Looks like Nvidia's run as the top S&P 500 stock is taking a breather. Make room for a new champ.
Shares of security software firm Palantir Technologies are up 49.6% this year — making them easily the top stock this year so far in the S&P 500, says an Investor's Business Daily analysis of data from S&P Global Market Intelligence and MarketSurge. Palantir is leaving Nvidia in the dust, as shares of the AI superpower are down 0.7% this year.
That's a huge difference. Had you invested $10,000 at the start of the year on Palantir, you'd have $14,958 now or a gain of $4,958. That same $10,000 plunked down on Nvidia would be worth just $9,930 for a loss of $70.
"There are some transformational tech stocks that come along every decade and change the landscape," said Dan Ives of Wedbush. "Palantir is one of them in our view and proved it for all the tech world to see."
Sizing Up The S&P 500
Seeing such a massive run so far in Palantir is out of the ordinary for the market this year. The average S&P 500 stock is only up 2.9%.
Year to date, less than two-thirds of the stocks in the S&P 500 are higher at all. And of those, just 16 are up 20% or more. Palantir is the only S&P 500 stock to be up more than 40%.
Much of the enthusiasm for Palantir's stock happened on Feb. 3, when the company reported December-quarter results. The company wound up making 14 cents a share, topping estimates by more than 27%. Shares are racing higher, driving the RS Rating to a perfect 99.
But it's not just speculation. Analysts think the company's earnings will rise 30% in 2025 and another 25% in 2026. But don't rush into this one. Palantir stock is extended. It needs to form a base to be actionable, according to MarketSurge.
On Palantir's Heel
But don't think Palantir can claim the title for the best S&P 500 stock just yet. Nvidia isn't even close to catching up, but there's still some competition.
Baltimore-based utility Constellation Energy is runner-up so far, with its shares up 38.6% for the year. Shares are benefiting from increased demand for electricity to power AI models. The stock's 96 RS Rating is only slightly below Palantir's. And analysts think the company's profit will jump 10% in 2025 following an 89% rise in 2024.
And then there's Super Micro Computer. Shares are racing higher 29.6% this year after falling in 2024 on accounting worries. Super Micro carries an RS Rating of 75 and EPS Rating of a perfect 99. But it also late Tuesday cut its revenue forecast for the year.
So while Palantir is untouchable now, it still has competition for the top spot.
Top S&P 500 Stocks
In 2025 so far
| Company | Ticker | YTD % ch. | Sector |
|---|---|---|---|
| Palantir Technologies | PLTR | 49.6% | Information Technology |
| Constellation Energy | CEG | 38.6% | Utilities |
| Super Micro Computer | SMCI | 29.6% | Information Technology |
| Uber Technologies | UBER | 27.7% | Industrials |
| CrowdStrike Holdings | CRWD | 26.8% | Information Technology |
| General Electric | GE | 25.2% | Industrials |
| Tapestry | TPR | 24.1% | Consumer Discretionary |
| Meta Platforms | META | 23.5% | Communication Services |
| Texas Pacific Land | TPL | 23.4% | Energy |
| Newmont | NEM | 23.2% | Materials |
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Follow Matt Krantz on X (Twitter) @mattkrantz
