Instead, the title for highest stock market return in 2024 belongs to Palantir, the Peter Thiel-founded software firm that specializes in data analytics, which returned 340.5% on the year. Nvidia's 171.2% lands it in third.
Magnificent Seven Stocks: Nvidia Slides, Tesla Reverses Higher; Apple Continues To Sell Off. Dubbed the Magnificent Seven stocks, Apple, Microsoft, Google parent Alphabet, Amazon.com, Nvidia, Meta Platforms and Tesla lived up to their name in 2024 with solid gains.
At this stage, we recommend small cap stocks with a favorable Zacks Rank that have strong growth potential for 2025. Five such stocks are: Travelzoo TZOO, EverQuote Inc. EVER, Lindblad Expeditions Holdings Inc. LIND, Rigel Pharmaceuticals Inc.
But since mid-2023, and certainly in 2024, there is a clear distinction among these seven megacaps. By both time frames, the Fab Five of Nvidia, Meta Platforms, Google, Microsoft and Amazon stock are up.
(NASDAQ:AMZN) is arguably one of the best blue chip stocks to buy, as it is a market leader in e-commerce and cloud computing. While the stock was up by about 47% in 2024, there is room for additional gains owing to the investments the company is making to strengthen its growth metrics and long-term prospects.
In particular, consider the remarkable gains in the S&P 500 Index, which was on track to close up more than 25% for 2024, well ahead of Wall Street analysts' forecasts, in one of its strongest annual performances of the last quarter-century.
Key Takeaways. The Rule of 72 is a simple way to estimate how long it will take your investments to double by dividing 72 by your expected annual return rate. Higher-risk investments like stocks have historically doubled money faster (around seven years) compared with lower-risk options like bonds (around 12 years).
Even so, the gains posted by Ambrx Biopharma (AMAM) in Friday's session are unusual and particularly eye-catching. The stock soared to the tune of a hardly believable 1007% after the company announced pleasing results from the mid-stage testing of its breast cancer drug ARX788.