10 Large-Cap Stocks That Are On Fire Right Now

In this article, we will take a look at the 10 Large-Cap Stocks That Are On Fire Right Now. 

The S&P 500 has surged by over 4% since the start of 2026. That move stands out, as even with the Iran conflict keeping tensions elevated and energy prices high, stocks have held up better than many expected.

There’s also some support coming from earnings. A report from JPMorgan Chase shows that earnings expectations for the S&P 500 have moved higher this year, rising to about 17.6% from 14.9% at the end of last year. Geopolitical risks are still there, and they could also slow things a bit. Even so, profits are still on track to grow at a double-digit pace.

For Q1, earnings are expected to increase 12.6%. That would be the sixth straight quarter of solid growth. Companies are also giving more positive guidance than usual, which is worth noting. Technology, materials, and financials are leading the way. Tech is doing most of the heavy lifting, with earnings projected to jump around 45%, largely driven by semiconductors. Financials should post gains as well, though growth may ease in the next couple of quarters.

Energy looks flat in Q1, but expectations point to a stronger second half of the year. Small- and mid-cap companies are also participating, with growth in the mid-to-high teens. Even with some uncertainty in the background, the earnings picture remains steady and continues to support the market.

Given this, we will take a look at some of the best large-cap stocks that are on fire this year.

Our Methodology:

For this article, we screened for large-cap mega companies with market caps above $100 billion and identified stocks with the highest YTD returns, as of April 27. From there, we picked companies that have recently reported noteworthy developments likely to impact investor sentiment. These companies are also popular among elite funds and analysts.

Why are we interested in the stocks that hedge funds pile into? The reason is simple: our research has shown that we can outperform the market by imitating the top stock picks of the best hedge funds. Our quarterly newsletter’s strategy selects 14 small-cap and large-cap stocks every quarter and has returned 498.7% since May 2014, beating its benchmark by 303 percentage points (see more details here).

10. Caterpillar Inc. (NYSE:CAT)

YTD Return as of April 27: 38.5%

On April 24, Bank of America analyst Michael Feniger raised the firm’s price recommendation on Caterpillar Inc. (NYSE:CAT) to $930 from $825. It reiterated a Buy rating on the shares. The firm expects Caterpillar to raise its tariff costs, which could weigh on some of the 2026 upside. At the same time, it lifted its 2027 estimates, pointing to stronger Power & Energy demand. It also said a higher multiple is “warranted” as the recovery in equipment demand starts to broaden.

On April 20, Truist Financial raised its price goal on CAT to $920 from $786 and kept a Buy rating. The update came as part of a broader note previewing Q1 results across Machinery, Infrastructure Services, and Multi-Industry names. After three years of contraction, March US Manufacturing PMI came in at 52.7, following positive readings in January and February. The firm sees a more supportive setup for Q1 results across its Industrials coverage. That backdrop matters, especially with concerns that the Iran war could temper expectations for a stronger industrial recovery. Truist noted that channel destocking has largely run its course. It pointed to “improving” conditions across industrial and cyclical markets, including construction and mining equipment, commercial vehicles, and semiconductors.

Caterpillar Inc. (NYSE:CAT) manufactures construction and mining equipment, off-highway diesel and natural gas engines, industrial gas turbines, and diesel-electric locomotives. The company operates through three segments: Construction Industries, Resource Industries, and Power & Energy.

9. Advanced Micro Devices, Inc. (NASDAQ:AMD)

YTD Return as of April 27: 49.6%

On April 27, Northland Securities downgraded Advanced Micro Devices, Inc. (NASDAQ:AMD) to Market Perform from Outperform and set a $260 price target. The firm pointed to rising competition. Intel is catching up, while TSMC is working with Nvidia in AI infrastructure and PCs. In that environment, the analyst expects pressure on AMD’s gross margin expansion. R&D spending is also likely to stay elevated. The firm called AMD “a phenomenal company,” but said the calendar year 2027 consensus is “likely too high.”

On April 24, DA Davidson upgraded AMD to Buy from Neutral and raised its price target to $375 from $220. The firm pointed to a “structural increase” in central processing unit demand and “much improved” visibility into AMD’s role in the data center buildout. It also referenced Intel’s Q1 results, which came in stronger than expected. Based on that, the analyst sees “meaningful upside” to AMD’s estimates ahead of its May 5 report. DA Davidson said CPUs are “reinserting itself as an indispensable foundation of the AI era.” It described Intel’s results as a “precursor for a huge step-up” for AMD’s CPU franchise.

Advanced Micro Devices, Inc. (NASDAQ:AMD) is a global semiconductor company focused on high-performance computing and artificial intelligence. The company operates through three segments: Data Center, Client and Gaming, and Embedded.

8. Applied Materials, Inc. (NASDAQ:AMAT)

YTD Return as of April 27: 50.5%

On April 27, Erste Group upgraded Applied Materials, Inc. (NASDAQ:AMAT) to Buy from Hold. The analyst pointed to the ongoing buildout in AI. Investment is flowing into advanced semiconductors, next-generation DRAM, and newer technologies. Applied “supplies the production machinery for this and benefits from it.”

During the Q1 2026 earnings call, Brice Hill, Senior VP and CFO, shared expectations for the next quarter. The company expects Q2 revenue of about $7.65 billion, with a possible swing of $500 million. That implies roughly 9% sequential growth. Non-GAAP EPS is projected at $2.64, with a margin of $0.20 on either side. By segment, Semiconductor Systems revenue is expected to come in at $5.8 billion. Applied Global Services is projected at around $1.6 billion. Other revenue is estimated at approximately $250 million. Hill also said non-GAAP gross margin should improve to about 49.3%.

Separately, Gary Dickerson, President and CEO, pointed to continued momentum beyond the near term. He suggested the company sees its growth trajectory extending into 2027.

Applied Materials, Inc. (NASDAQ:AMAT) provides materials engineering solutions, including equipment, services, and software for the semiconductor, display, and related industries. The company operates through two segments: Semiconductor Systems and Applied Global Services (AGS).

7. GE Vernova Inc. (NYSE:GEV)

YTD Return as of April 27: 64.85%

On April 27, Argus analyst John Eade raised the firm’s price recommendation on GE Vernova Inc. (NYSE:GEV) to $1,300 from $800. It reiterated a Buy rating on the shares. He pointed out that the company’s installed base generates about 30% of the world’s electricity. The firm views GE Vernova as a well-run, financially strong company. It also sees the business positioned to benefit from long-term shifts like energy transition, global electrification, and decarbonization. The analyst noted that profit performance has been uneven in recent periods. Still, he believes a turnaround is in progress, with near-term growth starting to look more promising.

On April 24, Goldman Sachs raised its price goal on GE Vernova to $1,328 from $1,000. It maintained a Buy rating. The firm said GE Vernova delivered a strong quarter. Segment EBITDA came in above expectations, supported by strength in Power and Electrification. That strength more than offset the continued weakness in Offshore Wind. Orders remained solid across the business. Growth was particularly strong in gas power and electrification. This led to a very high book-to-bill ratio and a backlog that is expanding quickly, according to the analyst.

GE Vernova Inc. (NYSE:GEV) operates as a global energy company built around Power, Wind, and Electrification, supported by its accelerator businesses. It designs, manufactures, delivers, and services technologies aimed at building a more sustainable electric power system, while supporting electrification and decarbonization.

6. Micron Technology, Inc. (NASDAQ:MU)

YTD Return as of April 27: 66.3%

On April 28, TD Cowen analyst Krish Sankar raised the firm’s price target on Micron Technology, Inc. (NASDAQ:MU) to $660 from $550 and kept a Buy rating on the shares. The firm said the “next leg for the stock is more about durability than earnings upside.” TD does not see much upside to its 2027 earnings per share estimate of $110 for Micron. The analyst said the company’s story is shifting, moving away from earnings upside and toward durability. He added that the stock can continue to perform as long as there are signs of demand that support that durability view.

On April 27, Melius Research analyst Ben Reitzes initiated coverage of Micron Technology with a Buy rating and a $700 price target. The firm sees memory companies as central to its AI coverage. It said memory names align closely with AI semiconductors, AI hardware, and hyperscalers. Melius believes the AI memory cycle could extend through the end of the decade. The firm said the market may eventually assign higher value to the “unusual durability of the margin and demand profiles” that AI is creating across high bandwidth memory, DRAM, and NAND. It also initiated coverage on SanDisk with a Buy rating.

Micron Technology, Inc. (NASDAQ:MU) provides memory and storage solutions. The company offers a range of high-performance DRAM, NAND, and NOR memory products through its Micron and Crucial brands.

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