CNBC Pro screened the S&P 500 to identify stocks offering the highest prospective risk-adjusted returns by comparing expected excess return relative to the risk-free rate with 12-month implied volatility. Wynn Resorts tops the list with roughly 70% upside potential despite falling nearly 14% over the past month. T-Mobile shows about 54% potential upside despite dropping nearly 16% in one month, while Micron Technology and Western Digital offer 70% and 80% upside respectively according to analyst forecasts. Nvidia is an exception, gaining 5% over the past month with more than 40% upside potential, with over 90% of analysts maintaining positive ratings on the chipmaker.
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