It’s probably no surprise to find artificial intelligence leader Nvidia (NVDA) among the best stocks of 2024 so far. But egg producer Vital Farms (VITL) beat Nvidia stock in the IBD 50.

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Vital Farms gained an impressive 198.1% from Jan. 1 through June 28, topping Nvidia’s increase of 149.5%. Hims & Hers (HIMS) also is one of the year’s best stocks in the IBD 50, with a 126.9% jump. Arm Holdings (ARM) more than doubled, too, making a 117.7% pop.

Egg Producer Tops Best Stocks Of 2024

Vital Farms has rocketed to record highs along with the price of eggs, as avian flu and inflation sent egg prices to record levels.

The producer of pasture-raised eggs and butter, however, has enjoyed sustained sales momentum and margin improvement. Its network of 300 family farms tends to reduce disruptions to its egg supply, which helped it weather avian flu incidents in 2022 and 2023.

The stock gapped up 27% May 9 after the company reported a 169% jump in first-quarter earnings while sales popped 24%. Full-year 2024 earnings estimates call for profit of 96 cents a share, up from 59 cents a share in 2023, then rising to $1.13 EPS in 2025.

Shares are far extended from a yearlong cup base with an 18.18 buy point.

Nvidia Stock Runner-up

Nvidia stock has reached a 25% profit target from its most recent buy points at 92.22 and 97.40.

The stock went on a strong run spurred on by the company’s fiscal first-quarter earnings and sales beat on May 22. The report reiterated the company’s leading role in artificial intelligence technology.

Arm Holdings is another IBD 50 stock that rode an AI wave. Shares are in a 5% buy zone up to 172.20 from a deep base with a 164 buy point, according to IBD Market Surge pattern recognition.

Arm stock has climbed since the company topped fiscal fourth-quarter earnings and revenue estimates on May 8. Analysts expect fiscal 2025 profits to increase 24% then 32% in 2025.

Arm Holdings’ architecture offers energy-efficient applications and advanced chip designs used for generative AI found in smartphones, autos and other industries.

Telehealth Firm Among Best Stocks Of 2024

Hims & Hers made much of this year’s gains in just two days.

Its first-quarter earnings report sent shares soaring 31% on Feb. 27. And on May 20, the stock broke out to new highs with a 27.7% surge. That day, the company announced it was adding GLP-1 weight-loss injections to its offerings.

Today, the telehealth and online prescription provider is extended from a 17.16 buy point. Hims & Hers is expected to turn a profit of 17 cents a share in 2024 after five years of losses.

Celestica (CLS) climbed 95.8% in the first half 2024. The contract manufacturing company’s profit growth accelerated to 83% in the first quarter from gains of 25% and 36% in the prior two periods.

Follow Kimberley Koenig for more stock market news on X/Twitter @IBD_KKoenig.

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