The Best Performing S&P 500 Stocks Over the Past 30 Years—A Surprising Mix of Industries

When examining the best-performing stocks in the S&P 500 over the past three decades, you might expect to find a list dominated by tech giants. While companies like NVIDIA Corp. (NVDA) and Apple Inc. (AAPL) certainly make the cut, many top-performing stocks come from diverse sectors, including healthcare, consumer goods, and even pool equipment distribution. This variety underscores the benefits of diversification and highlights the unexpected opportunities for long-term growth beyond the usual tech suspects.

Key Takeaways

• Top-performing stocks over 30 years span multiple industries, revealing growth potential beyond the technology sector.
• Companies like Apple and NVIDIA have led in computing, consumer electronics, and AI, while healthcare and consumer goods companies have shown consistent returns.
• Many of these companies have thrived by expanding internationally and adapting to shifts in consumer behavior.
• Strong fundamentals and visionary management have been central to the success of these top performers.

Selection Criteria for Top Stocks

This analysis focuses on stocks in the S&P 500 index, representing some of the largest and most established U.S. companies. Each stock’s 30-year performance is assessed based on historical growth, resilience, and adaptability across economic cycles. By examining companies with this extended horizon, we gain insights into how they have navigated shifting market conditions and delivered outstanding returns over time.

Top Performing S&P 500 Stocks Over the Last 30 Years

Data as of September 30, 2024

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These companies have demonstrated remarkable growth and resilience, rising to industry leadership through strategic vision and adaptability. Let’s dive into the achievements of some standout companies in this diverse group.

NVIDIA Corporation (NVDA)

Sector: Technology | Industry: Semiconductors

Founded in 1993, NVIDIA is a powerhouse in semiconductor manufacturing, renowned for its pioneering graphics processing units (GPUs). Initially focused on the gaming industry, NVIDIA’s GPUs became essential for artificial intelligence (AI), deep learning, and data center applications. With GPUs driving machine learning and complex simulations, NVIDIA has grown in parallel with demand for AI solutions.

Key Milestones:

• 1999: Launched the GeForce 256, widely considered the first modern GPU.
• 2020: Acquired Mellanox Technologies, expanding its data center capabilities.
• 2024: Collaborated with AI giants like OpenAI, fueling demand for its AI-capable chips.

Amazon.com, Inc. (AMZN)

Sector: Consumer Discretionary | Industry: Internet Retail

Amazon started as an online bookstore in 1994 but rapidly expanded into the world’s most influential e-commerce and cloud computing powerhouse. The company’s cloud division, Amazon Web Services (AWS), is now a major revenue source, contributing significantly to Amazon’s profitability and growth.

Key Milestones:

• 2005: Launched Amazon Prime, reshaping customer loyalty.
• 2006: Introduced AWS, which became a leader in cloud computing.
• 2017: Acquired Whole Foods, establishing a foothold in the grocery industry.

Monster Beverage Corporation (MNST)

Sector: Consumer Staples | Industry: Beverages (Non-Alcoholic)

Monster grew from a niche natural beverage company into a global leader in the energy drink sector. Known for aggressive marketing and strategic partnerships, Monster captured a large market share by appealing to a younger demographic with a lifestyle-focused brand.

Key Milestones:

• 2002: Introduced the now-iconic Monster Energy drink.
• 2015: Formed a partnership with Coca-Cola, leveraging its global distribution network.
• 2022: Expanded into alcoholic beverages with the launch of Monster Beast Unleashed.

Apple Inc. (AAPL)

Sector: Technology | Industry: Telecommunications Equipment

Apple’s transformation from a personal computer maker into a tech juggernaut is among the most dramatic success stories of the last 30 years. The launch of the iPhone in 2007 set a new standard for smartphones, becoming the backbone of Apple’s product ecosystem.

Key Milestones:

• 2001: Released the iPod and iTunes, reshaping the music industry.
• 2007: Introduced the iPhone, revolutionizing mobile technology.
• 2020: Became the first publicly traded U.S. company to surpass $2 trillion in market cap.

Netflix, Inc. (NFLX)

Sector: Communication Services | Industry: Internet Software/Services

Netflix began as a DVD rental service but transformed into a global streaming leader. By producing original content, Netflix disrupted the traditional television and film industries and amassed over 270 million global subscribers.

Key Milestones:

• 2007: Launched streaming services, reshaping entertainment.
• 2013: Released House of Cards, marking its entry into original programming.
• 2024: Reached over 270 million subscribers worldwide.

Biogen Inc. (BIIB)

Sector: Healthcare | Industry: Pharmaceuticals (Major)

Since its founding in 1978, Biogen has focused on neurological diseases, notably multiple sclerosis (MS). Despite facing challenges due to patent expirations and controversies, Biogen remains a leader in biotechnology.

Key Milestones:

• 1996: Released Avonex, a breakthrough MS drug.
• 2013: Launched Tecfidera, a blockbuster MS therapy.
• 2023: Secured FDA approval for Leqembi, a promising Alzheimer’s drug.

ResMed Inc. (RMD)

Sector: Healthcare | Industry: Medical Specialties

ResMed has pioneered treatments for sleep disorders, specifically sleep apnea. Known for CPAP machines and connected health devices, ResMed has expanded into broader respiratory care and out-of-hospital software solutions.

Key Milestones:

• 1990s: Launched AutoSet technology for CPAP devices.
• 2014: Introduced AirView, a cloud platform for remote patient monitoring.
• 2016: Acquired Brightree, enhancing its SaaS offerings for healthcare providers.

Pool Corporation (POOL)

Sector: Consumer Discretionary | Industry: Wholesale Distributors

Pool Corporation is the world’s largest distributor of swimming pool supplies, equipment, and outdoor leisure products. Pool saw a surge in demand during the pandemic, benefiting from an increased focus on home improvement and outdoor living.

Key Milestones:

• 1995: Listed on the stock exchange, fueling expansion.
• 2020: Benefited from a pandemic-driven boom in home improvement spending.
• 2024: Operates over 440 sales centers worldwide.

Ross Stores, Inc. (ROST)

Sector: Consumer Discretionary | Industry: Apparel/Footwear Retail

Ross Stores has found success in the off-price retail model, offering discounted name-brand clothing and home goods. The company expanded nationwide, focusing on suburban markets and avoiding e-commerce competition.

Key Milestones:

• 2010-2019: Grew significantly, even as traditional retailers faced challenges.
• 2020: Expanded digital capabilities amid the pandemic.
• 2024: Operates over 2,100 stores in the U.S.

NVR, Inc. (NVR)

Sector: Consumer Discretionary | Industry: Homebuilding

NVR is a homebuilder known for its conservative, land-light strategy, which has helped it avoid the financial pitfalls that affected many of its competitors. NVR has a strong presence along the U.S. East Coast.

Key Milestones:

• 2000s: Benefited from the housing boom while managing risks during the 2008 crisis.
• 2020s: Maintained steady growth despite fluctuating real estate markets.
• 2024: One of the most financially stable and efficient homebuilders in the U.S.

The Importance of Diversification

The variety of top-performing stocks illustrates the potential of a diversified portfolio. While technology companies like NVIDIA and Apple have delivered impressive returns, non-tech companies in retail, healthcare, and consumer goods also provided significant growth opportunities.

Over the last 30 years, some of the best-performing S&P 500 stocks have come from surprising sectors. While technology stocks have been prominent, companies in retail, healthcare, and consumer goods have also achieved stellar performance. This highlights the importance of diversification and suggests that investors willing to look beyond the technology sector can still uncover substantial long-term growth.

Investing across a range of sectors is essential for capturing the broadest opportunities in the market. By doing so, investors can position themselves to benefit from a wide array of industries poised to thrive in a rapidly evolving economy.