The second half of the year kicks off with a holiday-shortened week, though jobs data comes at the end of it. That’s as Tesla may have lit a firecracker for tech with some pretty bullish sales numbers out Sunday.
So naturally, another obvious question looking ahead is how to find outperformers like the so-called “Magnificent Seven” tech names that led the first half — Amazon AMZN , Microsoft MSFT , Alphabet GOOGL , Meta META , Tesla TSLA and Nvidia NVDA . Roughly 20 names meet this criteria and among them is one of those big tech outperformers — Tesla. Salesforce CRM has consistently made the cut, said Goldman. The top 10 names on this list are Enphase Energy ENPH , Tesla, SolarEdge SEDG , Palo Alto Networks PANW , ServiceNow NOW , Paycom Software PAYC , Fortinet FTNT , DexCom DXCM and Insulet PODD .
As an aside, Kostin and the team address the whole narrow market issue, saying that in any given year, returns have been concentrated on a group of outperformers. Observe the below chart:
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