10 S&P 500 Stocks That Led a 2-Year Market

Over the past two years, traders have been optimistically investing in companies on S&P 500leading the index of 500 large US companies to new highs – even as the Federal Reserve issued aggressive rate hikes.

Jim Cramer reflected on top performing stocks, his favorite buys being Nvidia, Broadcom and Beautiful Isaac.

“The entire first year of this bull’s life was an anomaly — that’s because the Fed tightened furiously and the market went up anyway,” he said. “Every night I say there’s always a bull market somewhere, and the last two years, well, it’s been right in front of you.”

Cramer lists the top 10 S&P 500 stocks with the biggest gains since October 12, 2022:

1. Nvidia: The stock boasts a monstrous gain of about 1,072% over the past two years, and Cramer has long repeated his mantra: own Nvidia, don’t trade it. Cramer predicted that this AI powerhouse will continue to develop advanced technology and grow in the market as demand for its products continues.
2. Super Micro Computer: This company, which makes computers used for data storage, AI models and other technologies, is a beneficiary of the AI ​​technology boom. Super Micro Computer’s hardware “goes hand in hand with Nvidia,” Cramer said, but added that the company had a weak second quarter and that it prefers semiconductor maker Nvidia.
3. Vistra: Like Super Micro Computer and Nvidia, this electricity and energy company has taken advantage of the AI ​​hype, according to Cramer. Vistra is able to produce carbon-free energy, which enterprises need as their new data centers consume power, he said. If the stock pulls back, Cramer said he would be a buyer.
4. Palantir: This data company has the edge in two booming markets, defense and AI. Cramer said Palantir could be “the craziest stock of the year.” adding that it is likely to remain expensive because it is such a major government contractor.
5. Beautiful Isaac: Cramer said Fair Isaac is by far the best in credit scoring, saying its stock could be a buy even at its current price.
6. General Electric: General Electric was still a single company in 2022, but has since been split into three: GE Healthcare, GE Aerospace and GE Vernova. For Cramer, the trio is all going well. The latter two are particularly prosperous as demand for aircraft engines and data center power increases.
7. Meta: Cramer praised parent Facebook’s AI-enhanced advertising capabilities, particularly in Instagram and the app’s Reels feature.
8. Broadcom: Broadcom just hit an all-time high, and Cramer said he thinks the stock isn’t done going up. The company develops graphics chips and other infrastructure software and is doing well as demand for AI continues.
9. Royal Caribbean Cruises: Many consumers view this cruise line’s vacation deals as affordable, Cramer said, in contrast to airline and hotel prices that have risen with inflation. He suggested that investors can still buy the shares here.
10. Arista Networks: Cramer called Arista Networks “perhaps the most unknown of all these winners.” It is a major player when it comes to network infrastructure for the cloud, which refers to the proliferating data center market. The stock hit an all-time high on Thursday and he said it may have more room to run.

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Disclaimer CNBC Investing Club Charitable Trust owns shares of Nvidia, Meta, GE Healthcare and Broadcom.