With under two weeks left to go in the quarter, Q2 2018 is shaping up to be a good one for US equities. S&P 500 stocks have posted an average gain of 5.7% so far this quarter with over three-quarters of the index in the black. So much for the weak breadth argument! In terms of top performers, the 34 stocks listed below are all up 20% or more QTD. Leading the way higher is Advanced Micro (AMD), which is up an unbelievable 113%. Trailing way behind in AMD’s dust, the next best-performing stock on the list is Flowserve (FLS), which is still up a respectable 38% followed by Arconic (ARNC), QUALCOMM (QCOM), HCA Healthcare (HCA), and PerkinElmer (PKI), which are all up over 30%.
In terms of the FANG stocks, you have to go down to position number – wait. There are no FANG stocks on the list of top performers! 😱😱😱😱😱 In fact, in order to include even one FANG stock on this list, we would have to extend it to the top 100 stocks (AMZN – 95th). For the list to include two FANG stocks we would have to extend it to the top 300 names (GOOGL – 287th), and finally to include all the FANG stocks, we would simply have to show all the stocks in the S&P 500, as Facebook (FB) is all the way down at position number 490 in terms of its QTD rank. That’s right, only ten other stocks in the S&P 500 have done worse this quarter than Facebook.