Large-Cap Stocks Reach New Highs Amid Market Uncertainty

A list of 14 Large Cap US and Canada-listed stocks with a market value above $40 billion made new 52-week highs. The largest company on the list is Johnson & Johnson (JNJ), with a market value of about $662.5 billion.

While some companies, like Phillips 66 (PSX), have seen significant gains, with a one-month increase of 25%, the S&P 500 has returned -0.8% over the same period. The question remains whether these businesses' fundamentals justify their current prices.

Trefis analyzed the top 10 largest companies on the list and found that some, like Pfizer (PFE), trade at high multiples despite declining revenue. In contrast, Johnson & Johnson trades at a lower multiple with growing revenue and an operating margin of 26.8%.