The stock markets worldwide have suffered in the coronavirus pandemic with the global stock market crash on 20 February, followed by Black Monday (9 March) and Black Thursday (12 March), as economies have been heavily impacted by the closure of global supply chains and the global shutdown of production.
In the US, on 19 February the S&P 500 hit an all-time high in intraday trading of 3,393.52 and the Nasdaq Composite reached never-before-seen heights in intraday trading of 9,838.37. The Nasdaq-100 reached 9,683.94 and the Dow Jones Industrial Average rose to 25,409.36. At close of business on Wednesday, the S&P 500 finished at 2,969, the Nasdaq Composite at 9,375.78, which was its highest since 21 February, the Nasdaq-100 was 9,485.02 and the Dow Jones Industrial Average shut at 24,527.
A look at the Nasdaq-100 reveals that 55 companies have actually gained in value year-on-year. These eight businesses have risen by more than 60% year-on-year.
- Tesla. CEO Elon Musk, who is rarely out of the news, himself tweeted that the stock price of the electric vehicle and solar energy company, based in Palo Alto, California, was too high on 2 May.
Tesla is building a new manufacturing plant in Germany and opened a manufacturing and assembly plant in Shanghai, China, in October last year. The only US assembly plant is in Fremont, California. Tesla launches the Model Y his year, which is available to order in all of North America, China and parts of Europe.
The stock of Tesla, which has yet to generate an annual profit, has risen 285.55% year-on-year to 602.60 on the Nasdaq-100.
- NVIDIA, which is based in Santa Clara, California, designs graphics processing units for the gaming and professional markets, as well as system on a chip units for the mobile computing and automotive market. NVIDIA posted revenues of US$3.08 billion for the first quarter ended April 26, which is up 39% from a year earlier, as datacenter revenues from artificial intelligence and the cloud increased.
“NVIDIA had an excellent quarter. The acquisition of Mellanox expands our cloud and data centre opportunity. We raised the bar for AI computing with the launch and shipment of our Ampere GPU. And our digital GTC conference attracted a record number of developers, highlighting the accelerating adoption of NVIDIA GPU computing,” NVIDIA founder and CEO Jensen Huang said in a press release.
“Our Data Center business achieved a record and its first $1 billion quarter. NVIDIA is well positioned to advance the most powerful technology forces of our time – cloud computing and AI.”
The stock of NVIDIA has risen 123.61% year-on-year to 193.48 on the Nasdaq-100.
- AMD (Advanced Micro Devices) is a multinational semiconductor company based in Santa Clara County, California, that was founded by Jerry Sanders in 1969. AMD last month announced revenue for the first quarter of 2020 of US$1.79 billion, operating income of US$177 million and net income of US$162 million.
“We executed well in the first quarter, navigating the challenging environment to deliver 40% year-over-year revenue growth and significant gross margin expansion driven by our Ryzen and EPYC processors,” said Dr Lisa Su, AMD President and CEO. “While we expect some uncertainty in the near term demand environment, our financial foundation is solid and our strong product portfolio positions us well across a diverse set of resilient end markets. We remain focused on strong business execution while ensuring the safety of our employees and supporting our customers, partners and communities. Our strategy and long-term growth plans are unchanged.”
AMD’s stock has risen 98.51% year-on-year and stands at 27.09 on the Nasdaq-100 stock exchange.
- JD.com, which is also known as Jingdong and was formerly 360buy, is an e-commerce company with its headquarters in Beijing, China. Its JD Mall is the major competitor to the Alibaba-run Tmall. The founder and CEO, Liu Qiangdong, has invested in high tech and AI delivery through drones, autonomous technology and robots, and possesses the largest drone delivery system and infrastructure in the world. JD.com has recently started testing robotic delivery services and building drone delivery airports, together with driverless delivery by unveiling its first autonomous truck.
JD.com’s net revenues for the first quarter of 2020 were RMB146.2 billion (US$120.6 billion), an increase of 20.7% from the first quarter of 2019. Net revenues from the sales of general merchandise products for the first quarter of 2020 were RMB52.5 billion (US$7.4 billion), an increase of 38.2% from the first quarter of 2019. Net service revenues for the first quarter of 2020 were RMB16.1 billion (US$2.3 billion), an increase of 29.6% from the first quarter of 2019.
“We are proud that JD.com has been able to remain fully operational throughout the COVID-19 outbreak, and our employees are proud of the contributions JD continues to make towards building a more productive and sustainable society,” said Richard Liu, Chairman and Chief Executive Officer of JD.com. “Strong user growth during the first quarter reflects consumers’ increasing reliance on JD.com to support every aspect of their lives, and confidence in our commitment to providing a broad selection of quality products and best-in-class services.”
“JD’s resilient business model helped drive solid top and bottom-line results for the quarter that exceeded our expectations,” said Sidney Huang, Chief Financial Officer of JD.com. “We are also pleased to see an accelerating increase in user engagement, demonstrating our strengthened brand image and expanded consumer mindshare. Throughout the COVID-19 outbreak, JD has implemented disciplined financial control policies while providing undisrupted and timely services to consumers. We will continue to invest in technology and customer experience to support our future growth.”
The stock of JD.Com has risen 89.46% year-on-year to 26.22 on the Nasdaq-100.
- Regeneron Pharmaceuticals is a leading biotechnology company based in Tarrytown, New York, that invents medicines for people with serious diseases. Crucially it is at the forefront of developing a vaccine for the novel coronavirus that has become a pandemic. Regeneron is developing a novel multi-antibody cocktail REGN-COV2 that could be used before exposure to COVID-19 or as treatment for those already infected. It is also in the midst of a clinical program evaluating Kevzara (sarilumab, an IL-6 receptor antibody) to treat severe COVID-19 patients, with a report due next month.
Regeneron Pharmaceuticals’ first quarter 2020 revenues increased 33% to US$1.83 billion compared to the first quarter 2019. Regeneron has more than 20 product candidates in clinical development, including five marketed products for which it is investigating additional indications.
“Over 30 years, the Regeneron team has built a science and technology engine uniquely suited to address the COVID-19 pandemic and we are applying our signature passion, innovation, and drive to advance solutions. Our novel antibody cocktail, REGN-COV2, which is specifically-designed for both prevention and treatment, is expected to begin human studies in June and we are working in parallel to have large-scale quantities available by late summer,” said Leonard S. Schleifer, President and CEO of Regeneron at the first quarter 2020 results. “Beyond our COVID-19 efforts, we maintain our commitment to the many other patients with serious diseases who are counting on us. In the first quarter, we saw continued growth with EYLEA, Dupixent, and Libtayo in the US driven by underlying demand despite the impact of the pandemic. Moreover, we continue to advance our broad immuno-oncology platform, including the PD-1 inhibitor Libtayo, for which we plan regulatory submissions this year in both non-small cell lung cancer and basal cell carcinoma, based on recent promising late-stage results.”
The stock of Regeneron Pharmaceuticals has risen 83.73% year-on-year to 255.34 on the Nasdaq-100.
- Vertex Pharmaceuticals is an international biopharmaceutical company based in Boston, Massachusetts, that was founded in 1989. Vertex employs approximately 2,500 people in the US, Europe, Canada, Australia and Latin America with nearly two-thirds of staff dedicated to research and development. Vertex discovered and developed the first medicines to treat the underlying cause of the life-threatening genetic disease cystic fibrosis.
“The COVID-19 pandemic has presented unprecedented challenges to societies, communities and businesses around the world, and while these global challenges will continue for some time to come, I am very proud of how Vertex has responded to ensure that we continue to deliver on our mission for patients, keep our employees safe and achieve our business goals,” said Reshma Kewalramani, CEO and President of Vertex in a press release for the first quarter 2020 . “Importantly, our business continues to grow, and throughout the first quarter, thousands of patients initiated treatment with our medicines worldwide. The U.S. launch of TRIKAFTA has been remarkable, with the majority of eligible patients having now initiated treatment with this medicine. This strong interest reflects TRIKAFTA’s substantial benefits for patients and has resulted in significant increases in revenue to support continued investment in both our internal pipeline and business development efforts to support future growth. Looking ahead, we continue to be differentiated by our focus on serial innovation, investment in transformative medicines aimed at the underlying cause of disease, the breadth of our pipeline and capabilities and our financial strength.”
Vertex Pharmaceuticals’ stock has risen 68.39% year-on-year to 115.40 on the Nasdaq-100.
- Apple – Hathaway Berkshire President and CEO Warren Buffett revealed in February he was a user – has seen its stock rise higher this year to date than the other major technology companies Microsoft (44.38% increase), Amazon (29.82%), Google (18.75%) and Facebook (15.05%).
For the first quarter of 2020, Apple’s fiscal second quarter, sales totaled US$58.3 billion, an increase of 1% from the same quarter 12 months ago. In the previous quarter revenue reached US$91.8 billion, a record high.
“Despite COVID-19’s unprecedented global impact, we’re proud to report that Apple grew for the quarter, driven by an all-time record in Services and a quarterly record for Wearables,” said Tim Cook, Apple’s CEO. “In this difficult environment, our users are depending on Apple products in renewed ways to stay connected, informed, creative, and productive. We feel motivated and inspired to not only keep meeting these needs in innovative ways, but to continue giving back to support the global response, from the tens of millions of face masks and custom-built face shields we’ve sent to medical professionals around the world, to the millions we’ve donated to organisations like Global Citizen and America’s Food Fund.”
Apple’s stock has risen by 66.65% to be 125.96 a share on the Nasdaq-100.
- Skyworks Solutions, which has its headquarters in Irvine, California, manufactures semiconductors for use in radio frequency and mobile communications systems. Skyworks employs more than 9,000 people across Asia, Europe and North America. Its stock on the Nasdaq-100 has risen 60.05% year-on-year to 42.28.
“During this time of social distancing and decreased travel, the technology Skyworks provides have become a primary means of connecting people all over the world. The roll out and adoption of 5G and other advanced wireless technologies such as Wi-Fi 6 and enhanced GPS have become the pillars in support of the vast connected economy. Skyworks is proud to play an integral role in making these vital technologies and essential connections a reality,” said Liam K. Griffin, Skyworks Solutions President and CEO, at the second fiscal quarter conference call.
A total of 55 companies have seen their stocks rise on the Nasdaq-100 stock market index year-on-year.