5 Must-Buy Large-Cap Stocks With Triple-Digit Returns This Year

Market Overview - The U.S. stock markets have experienced a significant bull run in 2023, with the Dow, S&P 500, and Nasdaq Composite increasing by 13.7%, 23.9%, and 43.4% respectively [1] - Year-to-date, the Dow, S&P 500, and Nasdaq Composite have advanced 11.5%, 20.2%, and 21.6% respectively [1] - The Federal Reserve has initiated its first interest rate cut since March 2020, reducing rates by 50 basis points, with the potential for another cut later this year [2] Stock Performance - Five large-cap stocks have provided triple-digit returns year-to-date: AppLovin Corp. (APP), Palantir Technologies Inc. (PLTR), Sprouts Farmers Market Inc. (SFM), Tenet Healthcare Corp. (THC), and Vistra Corp. (VST) [1][3] - These stocks have strong earnings and revenue growth potential for the remainder of 2024, supported by positive earnings estimate revisions in the last 60 days [1] Company Highlights AppLovin Corp. (APP) - AppLovin has a Zacks Rank of 1 and reported a 76% year-over-year revenue increase in 2023, with a 41% rise in adjusted EBITDA [4] - In Q2 2024, AppLovin experienced a 44% year-over-year revenue jump and a 286% increase in net income [4] - Expected revenue and earnings growth rates for AppLovin are 35.2% and over 100% respectively for the current year [5] Palantir Technologies Inc. (PLTR) - Palantir holds a Zacks Rank of 2 and has seen growth in its commercial business alongside government contracts, driven by its AI initiatives [8] - The expected revenue and earnings growth rates for Palantir are 24.2% and 44% respectively for the current year [9] Sprouts Farmers Market Inc. (SFM) - Sprouts Farmers Market has a Zacks Rank of 1 and is focusing on product innovation and competitive pricing to cater to consumer preferences [12] - The expected revenue and earnings growth rates for Sprouts are 9.6% and 18.7% respectively for the current year [13] Tenet Healthcare Corp. (THC) - Tenet Healthcare has a Zacks Rank of 1, with revenue growth driven by increased patient admissions and strategic acquisitions [14] - The expected revenue and earnings growth rates for Tenet are 1.4% and 53.6% respectively for the current year [15] Vistra Corp. (VST) - Vistra holds a Zacks Rank of 2 and is expanding its clean electricity generation assets through acquisitions [17] - The expected revenue and earnings growth rates for Vistra are 18% and 33.2% respectively for the current year [18]