Top 10 S&P 500 Stocks of the Past Decade Share One Clear Theme

Nine of the 10 best-performing S&P 500 stocks over the past decade trace to one theme, the buildout of artificial intelligence infrastructure. There is also one clear winner out of the top 10: Nvidia.

Nvidia's 10-year total return is near 13,589%, more than double the next-closest, AMD, at close to 6,000%. The other eight names span chipmakers, network gear, and one HVAC contractor.

The AI Common Thread

The top 10 best performers from the last 10 years:

Nvidia (NVDA) - +13,817%

AMD (AMD) - +6,099%

Micron (MU) - +5,486%

Comfort Systems (FIX) - +5,157%

Arista Networks (ANET) - +3,762%

Lam Research (LRCX) - +3,099%

Tesla (TSLA) - +2,545%

Lumentum (LITE) - +2,440%

KLA Corp (KLAC) - +2,401%

Seagate (STX) - +2,346%

Nvidia, AMD, Micron (MU), Lam Research (LRCX), and KLA Corp (KLAC) all supply chips or the equipment to make them. That equipment builds the servers inside AI data centers.

Arista Networks (ANET) sells networking switches for those same facilities. Lumentum (LITE) makes optical parts that move data between server racks. Seagate (STX), meanwhile, supplies the storage drives used in AI training clusters.

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