The fastest on the US stock market: whose business is really growing?
An exciting spring is underway in the US stock markets, where several companies have found a new gear. In this overview, based on the first quarter of 2026, we look at the Nasdaq and S&P 500 companies whose business operations have gained momentum the fastest. We are leaving the software company Workday and the car manufacturer Ford out of the list. Although a large jump was visible in their profit numbers, it mainly stemmed from one-off events – in Workday's case, the disappearance of last year's costs, and for Ford, a refund of customs duties. Our focus is on companies whose growth is driven by strengthening core operations.
Micron's operating profit grew by 810 percent in the first quarter compared to the previous year. At the same time, the company's sales revenue increased by nearly 200 percent, showing that revenues are growing significantly faster than costs.
Behind this extraordinary growth is the artificial intelligence boom, which has created a huge demand for memory chips and raised their prices. Although the market is concerned about the cooling sales of standard computers and mobile phones, analysts believe that the need arising from artificial intelligence will keep the company's profits strong going forward.
SanDisk's operating profit grew by 318 percent year-over-year, turning the previous quarter's decline into a strong positive. The company's revenue increased by 251 percent at the same time, while operating expenses actually fell.
Similar to Micron, the engine of SanDisk's success is artificial intelligence. Data centers need new flash memories in large volumes to run artificial intelligence models, which has created a shortage in the market and raised product prices. In addition, the company has signed long-term contracts that provide confidence for the future.
The chemical industry company Albemarle turned the previous quarter's loss into a strong profit, growing its operating profit by nearly 620 percent year-over-year. The company's revenue grew by nearly 33 percent at the same time.
The main reason for this turnaround is the recovery of the lithium price and the growth of sales volumes. Since lithium is a critical material in battery production, the price increase directly supports the company's profitability. In addition, Albemarle has successfully saved costs, making the business even more efficient.
The energy producer EQT's operating profit grew by 307 percent in the first quarter, reaching over two billion dollars. The company's sales revenue almost doubled, while costs grew by just over 8 percent.
Behind EQT's success are larger-than-expected natural gas sales volumes and favorable sales prices. The company has managed to make its production more efficient and keep infrastructure costs low. This shows that EQT is able to make the most of the current market situation.
The utility company Vistra turned an earlier decline into a 284 percent operating profit growth. The company's revenue grew by 43 percent, clearly outpacing cost growth.
The main driver of growth is higher energy prices and the addition of new power plants to the company's portfolio. As data centers and electric vehicles increase overall electricity demand in the US, Vistra is well-positioned with its new assets to capitalize on this trend.
The security technology manufacturer Axon Enterprise turned last year's loss into an operating profit of 29 million dollars. The company's sales revenue grew by nearly 34 percent, exceeding cost growth.
The company's success is driven by very strong demand for new TASER weapons and police body cameras. In addition to equipment sales, Axon is increasingly earning revenue from software and services as clients adopt new additional features. Recent partnerships further expand the use cases of their technology.
The insurance company Allstate's operating profit grew by 630 percent year-over-year and reached 2.6 billion dollars. Although revenue growth was more modest, the company's operating expenses fell by 12 percent.
Behind the acceleration in profit is the rise in home insurance prices and smaller damage claims. The company has managed to make its core business highly profitable again by charging clients higher premiums, while payouts caused by natural disasters have decreased.
The accommodation platform Airbnb's operating profit grew by 411 percent in the first quarter, turning the previous quarter's decline into strong growth. The company's revenue increased by 16 percent, while costs grew by less than 10 percent.
The engine of growth is people's continued strong desire to travel and higher accommodation prices. Airbnb has managed to make its daily work more efficient with the help of artificial intelligence, keeping costs under control. In addition, the company plans to expand into new areas, such as car rentals and group travel, to find new revenue streams.
The luxury goods manufacturer Tapestry, which owns the Coach brand for example, grew its operating profit by 55 percent. The company's revenue increased by nearly 21 percent, which is a significant improvement compared to the previous quarter.
Behind the success is the high interest of younger consumers in Coach handbags, especially the Tabby models in North America and Europe. The company has managed to keep costs well under control, which means that increased sales reach the profit line directly.
The pharmaceutical manufacturer Pfizer's operating profit grew by 20 percent in the first quarter, reaching nearly 3.4 billion dollars. The company's revenue also turned to growth, increasing by just over 5 percent.
Pfizer is successfully navigating a transition period. Although the sales of COVID-era products have fallen, this is now offset by the strong sales of new cancer drugs and other new products. This shows investors that the company's strategy to focus on new drugs and partnerships is bearing fruit.
Conclusion
These ten companies show that the growth drivers in the US stock market are very diverse. Artificial intelligence has clearly breathed new life into the technology sector, but we see equally impressive turnarounds in more traditional fields such as energy, insurance, and retail. For investors, it is important to understand that sustained growth is always backed by strong core operations and a clear competitive advantage, not one-off cash injections.
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