The 50 S&P stocks with the greatest exposure to international sales (S&P Complete Index: SP500)

Because the 2024 U.S. presidential election heats up subsequent week with the primary debate, Goldman Sachs’ Portfolio Technique Analysis staff checked out U.S. firms with the best publicity to home and worldwide gross sales.

present Predictions name for a Republican victory, which can possible result in the return of former President Donald Trump. Goldman Sachs believes any legislative modifications might influence the U.S. greenback and, in flip, firm efficiency.

“The primary presidential debate of 2024 will probably be held subsequent Thursday (June 27). Markets predict a 42% likelihood of a Republican sweep. The coverage end result of the election might have an effect on the U.S. greenback and the relative energy of home versus overseas promoting shares. Efficiency Goldman Sachs analyst David Kostin stated in a analysis notice on Friday.

“We analyzed company-level geographic gross sales information… Semi-finished merchandise have a 22% weighting in our worldwide gross sales basket (GSTHINTL), which has resulted in a 5 proportion level higher year-to-date efficiency in our home gross sales basket (GSTHAINT).

Goldman Sachs stated the GSTHINTL and GSTHAINT baskets every consist of fifty S&P 500 index (SP500) shares with the best publicity to non-U.S. gross sales and U.S. gross sales income.

“GSTHAINT shares have a median income of 0%, whereas GSTHINTL shares have a median income of 70%,” Goldman’s Kostin stated. “Worldwide gross sales account for 28% of median income for S&P 500 firms.”

As of June 20, the composition of the Goldman Sachs Worldwide Gross sales Basket (GSTHINTL) is as follows:

Communication providers

• Meta Platform (META): Annual Gross sales – $135B; Gross sales exterior the US – 63%.
• Information Company (NWSA): Annual gross sales – $10B; gross sales exterior the US – 62%.
• Netflix (NFLX): Annual gross sales – $34B; gross sales exterior the U.S. – 59%.
• Digital Arts (EA): Annual gross sales – $7B; gross sales exterior the US – 58%.
• Match Group (MTCH): Annual gross sales – $3B; gross sales exterior the US – 54%.

shopper discretionary

• Las Vegas Sands (LVS): Annual gross sales – $10B; gross sales exterior the U.S. – 100%.
• Reserving Holdings (BKNG): Annual gross sales – $21B; gross sales exterior the U.S. – 89%.
• BorgWarner (BWA): Annual gross sales – $14B; gross sales exterior the U.S. – 84%.
• Aptiv (APTV): Annual gross sales – $20B; gross sales exterior the US – 65%.
• McDonald’s (MCD): Annual gross sales – $25B; gross sales exterior the U.S. – 59%.

shopper staples

• Philip Morris Worldwide (PM): Annual gross sales – $35B; gross sales exterior the U.S. – 100%.
• Estée Lauder (EL): Annual gross sales – $16B; gross sales exterior the US – 76%.
• Bunge World SA (BG): Annual gross sales – $60B; gross sales exterior the US – 73%.

vitality

• SLB (SLB): Annual gross sales – $33B; gross sales exterior US – 84%.
• Baker Hughes (BKR): Annual gross sales – $26B; gross sales exterior the U.S. – 74%.

finance

• Mastercard (MA): Annual Gross sales – $25B; Non-U.S. Gross sales – 70%.
• Aflac (AFL): Annual gross sales – $17B; gross sales exterior the US – 62%.
• MSCI (MSCI): Annual gross sales – $3B; gross sales exterior the U.S. – 59%.
• Visa (V): Annual gross sales – $33B; gross sales exterior US – 57%.
• Aon (AON): Annual gross sales – $13B; gross sales exterior the U.S. – 56%.
• Marsh McLennan (MMC): Annual gross sales – $23B; gross sales exterior the US – 52%.

well being care

• Moderna (mRNA): Annual gross sales – $7B; gross sales exterior US – 72%.
• Viatris (VTRS): Annual gross sales – $11B; gross sales exterior the US – 69%.
• Waters Company (WAT): Annual gross sales – $3B; gross sales exterior the US – 69%.
• Agilent Applied sciences (A): Annual gross sales – $7B; gross sales exterior the U.S. – 65%.
• Mettler-Toledo Worldwide (MTD): Annual gross sales – $4B; gross sales exterior the U.S. – 64%.
• Abbott Laboratories (ABT): Annual gross sales – $40B; gross sales exterior the U.S. – 61%.

business

• Otis World (OTIS): Annual gross sales – $14B; gross sales exterior the U.S. – 72%.
• Nordson (NDSN): Annual gross sales – $3B; gross sales exterior the US – 66%.
• Expeditors Worldwide of Washington (EXPD): Annual gross sales – $9B; gross sales exterior the U.S. – 64%.
• Emerson (EMR): Annual gross sales – $15B; gross sales exterior the US – 58%.

Info Know-how

• Qualcomm (QCOM): Annual gross sales – $36B; gross sales exterior the U.S. – 96%.
• Monolithic Energy Provide Methods (MPWR): Annual Gross sales – $2B; Non-U.S. Gross sales – 95%.
• Lam Analysis (LRCX): Annual Gross sales – $17B; Non-U.S. Gross sales – 90%.
• NXP Semiconductors NV (NXPI): Annual gross sales – $13B; gross sales exterior the U.S. – 89%.
• KLA (KLAC): Annual gross sales – $10B; gross sales exterior U.S. – 88%.
• Jabil (JBL): Annual gross sales – $35B; gross sales exterior the U.S. – 86%.
• Utilized Supplies (AMAT): Annual gross sales – $27B; Non-U.S. gross sales – 85%.
• Teradyne (TER): Annual gross sales – $3B; gross sales exterior US – 84%.
• onsemi (ON): Annual gross sales – $8B; gross sales exterior US – 81%.
• Broadcom (AVGO): Annual gross sales – $36B; gross sales exterior the US – 81%.
• Microchip Know-how (MCHP): Annual gross sales – $8B; Non-U.S. gross sales – 75%.
• TE Connectivity (TEL): Annual Gross sales – $16B; Non-U.S. Gross sales – 74%.
• Intel (INTC): Annual Gross sales – $54B; Non-U.S. Gross sales – 74%.
• Fortinet (FTNT): Annual Gross sales – $5B; Non-U.S. Gross sales – 70%.
• Western Digital (WDC): Annual gross sales – $12B; gross sales exterior the US – 69%.
• Corning (GLW): Annual gross sales – $14B; gross sales exterior the U.S. – 67%.

Materials

• Newmont (NEM): Annual gross sales – $12B; gross sales exterior the U.S. – 100%.

actual property

• Equinix (EQIX): Annual gross sales – $8B; gross sales exterior the US – 62%.

Utilities

• AES (AES): Annual gross sales – $13B; gross sales exterior U.S. – 65%.

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