As of Thursday's market close, $Dow Jones(.DJI)$ gained 0.27%%, $S&P 500(.SPX)$ up 0.48%, and $NASDAQ(.IXIC)$ gained 0.94%, all three indexes hit record high, showed strong performance of the market. Data from TradingView shows that 43 companies with a market cap of over $10 billion have reached new highs.
Fed Rate Cut Impact: On September 18, the Fed cut rates by 25 basis points to 4.0%–4.25%. While Chair Powell framed it as “risk management,” markets saw it as the start of an easing cycle. The move is expected to lower corporate borrowing costs and support growth stocks and the broader market.
Economic Resilience: Initial jobless claims fell to 231,000—below expectations and the biggest drop in nearly four years—highlighting continued labor market strength and easing fears of rapid economic deterioration.
Political Pressure: President Trump is pushing to remove Fed Governor Lisa Cook, with a request pending before the Supreme Court. The effort raises concerns over Fed independence and potential politicization of monetary policy.
According to TradingView, on Thursday, there were 43 stocks with market value over $10B that saw prices hit all time high. Below are the TOP 10 stocks with analyst rating of buy and ranked by market value: $Alphabet(GOOG)$ $JPMorgan Chase(JPM)$ $AbbVie(ABBV)$ $GE Aerospace(GE)$ $Morgan Stanley(MS)$ $Goldman Sachs(GS)$ $American Express(AXP)$ $Caterpillar(CAT)$ $AppLovin Corporation(APP)$ $Micron Technology(MU)$
The rest of the 33 stocks are: $Lam Research(LRCX)$ $Amphenol(APH)$ $KLA-Tencor(KLAC)$ $Brookfield Corp(BN)$ $Robinhood(HOOD)$ $Bank of New York Mellon(BK)$ $Cummins(CMI)$ $Reddit(RDDT)$ $Astera Labs, Inc.(ALAB)$ $Raymond James(RJF)$ $SoFi Technologies Inc.(SOFI)$ $Hewlett Packard Enterprise(HPE)$ $Credo Technology Group Holding Ltd(CRDO)$ $Comfort Systems USA(FIX)$ $Carlyle Group LP(CG)$ $CyberArk(CYBR)$ $IONQ Inc.(IONQ)$ $Bloom Energy Corp(BE)$ $Pentair PLC(PNR)$ $AECOM(ACM)$ $C.H. Robinson(CHRW)$ $nVent Electric plc(NVT)$ $Oklo Inc.(OKLO)$ $Allegion PLC(ALLE)$ $Houlihan Lokey(HLI)$ $SanDisk Corp.(SNDK)$ $ITT Inc.(ITT)$ $Evercore Partners(EVR)$ $Fabrinet(FN)$ $Lumentum(LITE)$ $Globe Life Inc.(GL)$ $Sterling Construction(STRL)$
Looking at the specific data analysis:
19 companies with EPS dil growth rate over 30%: $Houlihan Lokey(HLI)$ $Alphabet(GOOG)$ $Lam Research(LRCX)$ $Morgan Stanley(MS)$ $Goldman Sachs(GS)$ $Amphenol(APH)$ $KLA-Tencor(KLAC)$ $Bank of New York Mellon(BK)$ $Evercore Partners(EVR)$ $Cummins(CMI)$ $C.H. Robinson(CHRW)$ $Comfort Systems USA(FIX)$ $GE Aerospace(GE)$ $Sterling Construction(STRL)$ $Oklo Inc.(OKLO)$ $AECOM(ACM)$ $AppLovin Corporation(APP)$ $Robinhood(HOOD)$ $MasTec(MTZ)$
7 companies with negative EPS growth: $Caterpillar(CAT)$ $IONQ Inc.(IONQ)$ $Brookfield Corp(BN)$ $AbbVie(ABBV)$ $Hewlett Packard Enterprise(HPE)$ $Pentair PLC(PNR)$ $CyberArk(CYBR)$
9 company without EPS dil growth rate provided: $Micron Technology(MU)$ $Reddit(RDDT)$ $Astera Labs, Inc.(ALAB)$ $SoFi Technologies Inc.(SOFI)$ $Credo Technology Group Holding Ltd(CRDO)$ $Carlyle Group LP(CG)$ $Bloom Energy Corp(BE)$ $SanDisk Corp.(SNDK)$ $Lumentum(LITE)$
The following is a compilation of key drivers behind the record-high stock prices of the top 10 companies, based on publicly available information. This is for discussion purposes only.
1. $Alphabet(GOOG)$
Core Business & Latest Business Developments: Alphabet is a multinational technology company with operations across the United States, Europe, the Middle East, Africa, the Asia-Pacific, Canada, and Latin America. It operates through Google Services, Google Cloud, and Other Bets segments.
Recent Financial Highlights: In Q2 2025, Alphabet reported revenue of $96.4 billion, a 14% increase year-over-year. Google Services revenues increased 12% to $82.5 billion, reflecting strong performance across Google Search & other, Google subscriptions, platforms, and devices, and YouTube ads. Google Cloud revenues increased 32% to $13.6 billion, led by growth in Google Cloud Platform (GCP) across core GCP products, AI Infrastructure, and Generative AI Solutions.
2. $JPMorgan Chase(JPM)$
Core Business & Latest Business Developments: JPMorgan Chase is a leading global investment bank offering investment banking, wealth management, and institutional securities services. Recent developments include the appointment of Jerry Lee as Global Chair of Investment Banking and other strategic leadership changes.
Recent Financial Highlights: In Q2 2025, JPMorgan Chase reported net income of $6.9 billion in its Commercial & Investment Bank segment, an increase of 5% year-over-year. Equities trading revenue jumped 48% year-over-year. The Consumer & Community Banking segment saw an 8% rise in active mobile customers, and Asset & Wealth Management reported a 23% increase in net income.
3. $AbbVie(ABBV)$
Core Business & Latest Business Developments: AbbVie is a global pharmaceutical company specializing in immunology, oncology, neuroscience, and aesthetics. It continues to transition beyond Humira reliance, focusing on Skyrizi and Rinvoq in immunology and expanding its oncology pipeline.
Recent Financial Highlights: In Q2 2025, AbbVie reported net revenues of $15.423 billion (up 6.6% YoY) and adjusted diluted EPS of $2.97 (up 12.1%).Key revenue drivers were Immunology ($7.631 billion, +9.5%), Neuroscience ($2.683 billion, +24.2%), and Oncology ($1.676 billion, +2.6%). The company raised its 2025 adjusted diluted EPS guidance to $11.88–$12.08.
4. $GE Aerospace(GE)$
Core Business & Latest Business Developments: GE Aerospace focuses on jet engines, components, and integrated systems for various aviation sectors. Recent developments include a $1 billion investment in U.S. manufacturing, plans to hire 5,000 U.S. workers, and advancements in additive manufacturing and ceramic matrix composites.
Recent Financial Highlights: In Q2 2025, total revenue was $11.02 billion, up 21% from the previous year. Net income attributable to GE Aerospace was $20.28 billion.
5. $Morgan Stanley(MS)$
Core Business & Latest Business Developments: Morgan Stanley offers investment banking, wealth management, and institutional securities services. Recent moves include promoting 173 employees to Managing Director and acquiring Prescott's while selling Sila Services to Goldman Sachs.
Recent Financial Highlights: In Q2 2025, net revenues were $16.8 billion and net income was $3.5 billion. The wealth management segment added $59 billion in net new assets.
6. $Goldman Sachs(GS)$
Core Business & Latest Business Developments: Goldman Sachs is a leading global investment bank providing investment banking, securities trading, asset management, and wealth management services. Recent highlights include the firm's ongoing investment in AI and digital transformation to enhance productivity and client experience.
Recent Financial Highlights: In Q2 2025, Goldman Sachs reported strong financial results with revenues of $14.58 billion, surpassing analyst estimates of $13.59 billion. The company's net income was $3.5 billion. The investment banking segment showed robust growth, driven by high-profile transactions in technology, healthcare, and energy sectors.
7. $American Express(AXP)$
Core Business & Latest Business Developments: American Express operates as an integrated payments company, offering credit card, charge card, banking, and other payment and financing products. It also provides network services, expense management products, and travel and lifestyle services.
Recent Financial Highlights: In Q2 2025, American Express reported record revenue of $17.9 billion, up 9% year-over-year. Earnings per share were $4.08, reflecting a 17% increase when excluding the prior year's Accertify sale gain. The company maintained its full-year 2025 guidance of 8-10% revenue growth and EPS of $15.00-$15.50.
8. $Caterpillar(CAT)$
Core Business & Latest Business Developments: Caterpillar manufactures construction and mining equipment, diesel and natural gas engines, and industrial gas turbines. The company continues to focus on AI-driven automation and workforce management solutions.
Most Recent Financial Highlights: n Q1 2025, Caterpillar reported net income of $1.39 billion and EPS of $2.48. The company has a robust $3.6 billion cash position and a record $5 billion backlog.
9. $AppLovin Corporation(APP)$
Core Business & Latest Business Developments: AppLovin provides AI-driven advertising solutions, focusing on its core advertising business and enhancing its AXON AI engine. Recent developments include the sale of its Apps business to Tripledot Studios and the launch of the AXON ads manager.
Most Recent Financial Highlights: In Q2 2025, AppLovin reported revenue of $1.26 billion, a 77% increase year-over-year. Adjusted EBITDA reached $1.02 billion, up 99% year-over-year. The company generated $768 million in free cash flow and repurchased 0.9 million shares for $341 million.
10. $Micron Technology(MU)$
Core Business & Latest Business Developments: Micron Technology is a leading provider of memory solutions, including DRAM and NAND products. The company has been focusing on advancing its technology leadership and expanding its market presence in AI-driven memory demand.
Recent Financial Highlights: In Q3 2025, Micron reported revenue of $9.30 billion, up from $8.05 billion in the prior quarter and $6.81 billion in the same period last year. GAAP net income was $1.89 billion, or $1.68 per diluted share. Non-GAAP net income was $2.18 billion, or $1.91 per diluted share. Operating cash flow reached $4.61 billion.
Conclusion
The record-high stock prices of these ten companies on September 19th, 2025, spanning technology, finance, pharmaceuticals, aerospace, and industrials—delivered strong Q2 2025 performance, driven by robust demand, strategic investments, and innovation. Alphabet and Micron benefited from AI-related growth, while JPMorgan, Morgan Stanley, and Goldman Sachs saw gains in trading and investment banking. AbbVie continued its transition beyond Humira, and GE Aerospace and Caterpillar advanced manufacturing and automation. AppLovin's ad tech surged with record growth, and American Express posted record revenues. Across the board, companies raised guidance or reported double-digit earnings growth, reflecting resilient fundamentals and strong market positioning.
Call to Action
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