The S&P 500’s Strangely Surprising Top Performers in September 2025

Ah, September. The month where expectations run high, and yet, if history serves, many of us are still nursing the last dregs of summer and wondering where the time went. But look, amidst the gentle humdrum of a world perpetually caught between economic optimism and doom, the S&P 500 decided to do what it does best: surprise us. It eked out a respectable 3.5% gain, extending its winning streak to five months. Now, I’m not suggesting that 3.5% will make your jaw drop in sheer amazement, but let’s put it this way: if that tiny bump kept up every month, we’d be talking about a 51% annual gain. Now, isn’t that a funny thing to consider?

And so, as is often the case when a broad market index moves steadily upwards, there are always a few bold performers that steal the show. In September, we saw the usual suspects-companies that, with a little nudge here and there, manage to turn the world upside down. Enter stage left: Warner Brothers Discovery (WBD), AppLovin (APP), and Western Digital (WDC). Let’s take a quick wander through this odd little parade.

First off, Warner Brothers Discovery. If you’re wondering why the company decided to raise eyebrows by soaring a delightful 68.1% in September, well, you’re not alone. In fact, I’d be willing to bet that even the folks at Warner Media themselves are a bit taken aback by the sudden burst. This is the same company that formed after a 2022 merger between WarnerMedia and Discovery Communications, and while you can make all sorts of reasonable arguments about the nature of mergers, one thing is certain: when you put HBO, CNN, and the Food Network all under one roof, something’s bound to happen. Add in the potential split and rumors of a buyout, and you’ve got yourself a recipe for intrigue. In other words, the stock just went *wild*. Don’t ask me how, because frankly, I have no clue, but it’s happening.

Next, there’s AppLovin. Now here’s where things get a bit… interesting. AppLovin is one of those companies that, if you squint a little, seems to be riding the wave of *something*-but it’s not quite clear what. The company rose 49.2% in September, and you could be forgiven for wondering whether it’s just another tech stock floating on the frothy surface of the app market. For those not familiar, AppLovin helps app developers make money from advertising (fascinating, I know). They’ve recently expanded into new areas beyond gaming apps, and at a market value of $243 billion, the world seems to be paying attention. Now, I know what you’re thinking: “Great, another ‘disruptor.'” But here’s the kicker: AppLovin has posted a mind-boggling annual gain of 233% over the past three years. A little more than a flash in the pan, it seems.

Finally, there’s Western Digital. For those of you who still have flashbacks to the golden days of desktop computers and external hard drives (yes, I remember them too), this company might sound a bit familiar. But in September, it jumped a neat 46.6%. What’s behind the surge? Well, it turns out data storage is still in hot demand, particularly in the growing fields of cloud computing and artificial intelligence (AI). I don’t pretend to understand the complexities of cloud storage or the ins and outs of AI, but this much is clear: demand is skyrocketing. And with several investment banks raising their price targets for the company in September, it seems like Western Digital is well on its way to maintaining its relevance in an ever-evolving market.

So, what’s the takeaway here? If you’re in the business of investing (or even just occasionally glancing at the stock market from a safe distance), these companies might be worth a second look. That said, as a contrarian investor, I must remind you that just because a stock has gone up doesn’t mean it will keep going up. Far from it. In fact, I’d suggest the opposite: sometimes, when everyone else is excited, it’s best to pause and question why you’re so eager to join the fray. But hey, that’s just me. 😅

2025-10-03 13:22

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