A weak dollar is boosting firms with high overseas sales. Goldman Sachs shares 13 stocks to take advantage of the trend.
Trump's tariffs have weakened the US dollar, boosting foreign currency earnings for firms.
Internationally-exposed companies outperform domestic-focused ones 11% to 4%, respectively.
As President Donald Trump ramps up his global trade war, one might think that American companies that do ost of their business in the US would be the top beneficiaries, but a recent Goldman Sachs report reveals it's just the opposite.
Thanks to the falling value of the US dollar relative to other major currencies due to Trump's tariffs, companies that do most of their sales outside of the US are getting a major boost. That's because when they sell their products in exchange for a foreign currency, that money is now worth more in dollar terms. Year-to-date, the US dollar index is down almost 9%.
The impact on stock prices has been noticeable, Goldman found. So far this year, its basket of stocks with high international sales is outperforming its group with high domestic sales 11% to 4%, respectively.
The basket of 50 internationally-exposed companies has a median share of overseas sales of 70%. The list has stocks from all 11 market sectors, though it's most heavily weighted toward information technology, which has 17 stocks.
Below, we've compiled the 13 firms on the list that have at least 80% of their sales coming from other countries. Their sectors, total sales, and share of overseas sales are also included.
Las Vegas Sands
Ticker: LVS
Sector: Consumer discretionary
Sales: $11.2 billion
Non-US sales: 100%
Booking Holdings
Ticker: BKNG
Sector: Consumer discretionary
Sales: $23.7 billion
Non-US sales: 90%
Philip Morris
Ticker: PM
Sector: Consumer staples
Sales: $37.8 billion
Non-US sales: 100%
Schlumberger
Ticker: SLB
Sector: Energy
Sales: $36 billion
Non-US sales: 85%
Monolithic Power Systems
Ticker: MPWR
Sector: Information technology
Sales: $2.2 billion
Non-US sales: 97%
Lam Research
Ticker: LRCX
Sector: Information technology
Sales: $14.9 billion
Non-US sales: 93%
NXP Semiconductors
Ticker: LRCX
Sector: Information technology
Sales: $14.9 billion
Non-US sales: 93%
KLA
Ticker: KLAC
Sector: Information technology
Sales: $9.8 billion
Non-US sales: 89%
Teradyne
Ticker: TER
Sector: Information technology
Sales: $2.8 billion
Non-US sales: 87%
Applied Materials
Ticker: AMAT
Sector: Information technology
Sales: $27.1 billion
Non-US sales: 86%
Jabil
Ticker: JBL
Sector: Information technology
Sales: $28.8 billion
Non-US sales: 83%
ON Semiconductor
Ticker: ON
Sector: Information technology
Sales: $7 billion
Non-US sales: 82%
Newmont
Ticker: NEM
Sector: Materials
Sales: $18.6 billion
Non-US sales: 100%
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