Mega-cap stocks have always found takers in the stock markets, irrespective of their valuation or soaring prices. Typically, “mega-cap” companies have a market cap of more than $200 billion, and generally demonstrate an established track record of consistent profitability, robust fundamentals, strong brand value, and leading market position.
Unsurprisingly, shares of chipmaker Nvidia (NVDA), the defining company of the generative AI revolution, have delivered the most upside of any mega-caps this year. Despite broader market turbulence to start Q2, the Jensen Huang-led company's jaw-dropping run shows no signs of stopping. NVDA's Q1 return of 82.46% absolutely dwarfs the second runner-up - which happens to be its “Magnificent Seven” peer, Meta Platforms (META), up 37.33% through the first three months of the year.
