These 2 Industrial Giants Have Crushed Tesla's Returns Over the Last 12 Months. Will The Party Continue?

The article compares Tesla’s roughly 17% gain over the past 12 months with the far stronger performance of Caterpillar and GE Vernova, which rose about 150% and 100%, respectively. The author argues both industrial companies benefit from robust demand tied to AI, data centers, utilities, and rising electricity needs, supported by very large backlogs: Caterpillar’s $63 billion backlog (up 79% YoY) and GE Vernova’s $163 billion backlog. However, the piece cautions that both stocks now trade at elevated valuations, especially Caterpillar, whose price-to-sales and price-to-earnings multiples are well above historical averages. The market takeaway is that fundamentals remain strong, but much of the good news may already be priced in, leaving the shares vulnerable if sentiment turns. The author is more constructive on GE Vernova than Caterpillar, but still recommends caution and gradual buying rather than aggressive entry.