Since The Bank Crisis Began, These Stocks Have Outperformed The Market

The S&P 500 has been gaining ground in the weeks following Silicon Valley Bank's collapse despite the blow it dealt to investor sentiment. In fact, the tech trade is overwhelmingly leading this recovery despite the recent economic crisis.

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In recent weeks, investors have been searching for safe assets to hide in and wait out the volatility as yields have dropped from multi-year highs. It has been quite evident that investors have been rotating back into technology stocks as yields have fallen over the past year. They had been hiding hard by high yields and high-interest rates that had hurt valuations during the past year. A solid balance sheet, cash flow, and earnings outlook of mega-cap stocks have led to their outperformance in recent months.

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Against this backdrop, Trade Algo performed a screening of the S&P 500 index as a whole to determine which stocks had performed the best since the crisis began. Here is a list of some of the stocks that have outperformed:

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• Insulet Corp.

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• Arista Networks

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• Advanced Micro Devices

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• Alphabet 

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• Newmont Corp.

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• Intel Corp.

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• Meta Platforms

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• Tesla

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• Nvidia Corp.

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• Adobe Inc.

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• Microsoft Corp.

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• Teleflex Inc.

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• Amazon.com

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• MarketAxess Holdings Inc.

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• Moderna, Inc.

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With Advanced Micro Devices up 12.4%, the stock was ranked third on the list of the best performers since the crisis began, among the biggest winners.

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Among the standout chip stocks after the financial crisis was Nvidia, which was up about 8% as a result of the crisis. In recent weeks, investors have turned their attention to ChatGPT, as the demand for hardware necessary for artificial intelligence (AI) is ramping up as a consequence of ChatGPT's launch earlier this year.

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There's the bullish sentiment on Wall Street when it comes to Nvidia as the company is viewed as an AI leader, especially since the company unveiled a whole host of new partnerships and products at its GTC event on Tuesday. Arya said Nvidia’s dominance in generative AI and large language models could transform the existing tech industry in the long run due to its dominance in these areas.

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It is expected to see an additional 4% upside in the price for Nvidia after its stock price dropped 50% in 2022, and the consensus price target calls for a recovery of more than 79% from the start of the year.

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In addition to AI chatbots, other key players made this list. Alphabet, creator of the Bard chatbot, and Microsoft, a backer of OpenAI, are both up about 11% this month.

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Google said this week that Bard will be open to a limited number of public testers. In May, investors questioned whether Microsoft would beat Google in the AI war after its chatbot misbehaved in a promotional video for YouTube. The CEO of the company Sundar Pichai issued a memo Tuesday warning that "things will go wrong."

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In addition to Meta Platforms, Tesla, Adobe, and Amazon, these companies have also performed well since the financial crisis began.