The S&P/ASX 200 Index (ASX: XJO) may have fallen heavily in 2020, but not all shares on the index are in the red.
Three ASX 200 shares that have recorded strong gains this year despite the coronavirus pandemic are listed below.
Here's why they are smashing the market this year:
A2 Milk Company Ltd (ASX: A2M)
The A2 Milk Company share price has continued its positive form and is up a further 32.9% in 2020. Investors have been buying the infant formula and fresh milk company's shares following a strong first half result and the belief that the coronavirus outbreak has caused a spike in demand. The latter appears to have been supported by a third quarter update by smaller rival Bubs Australia Ltd (ASX: BUB). It posted a significant jump in sales thanks to strong demand in the China market.
Fisher & Paykel Healthcare Corp Ltd (ASX: FPH)
The Fisher & Paykel Healthcare share price is up 34% year to date. This has been driven by increasing demand for the medical device company's ventilator products because of the coronavirus pandemic. Demand has been so strong the company has upgraded its guidance for FY 2020 multiple times. Fisher & Paykel Healthcare is expected to post operating revenue of approximately NZ$1.24 billion and net profit after tax in the range of NZ$275 million to NZ$280 million. This compares to NZ$1.07 billion and NZ$209.2 million, respectively, a year earlier.
NEXTDC Ltd (ASX: NXT)
The NEXTDC share price has been a very strong performer in 2020 with a 34.2% gain. Investors have been fighting to get hold of the data centre operator's shares due to the growing demand for its services. Demand was already increasing very strongly, but was given another boost by growing cloud usage from the working at home initiative. NEXTDC has responded to this by successfully completing a fully underwritten institutional placement to raise $672 million. These funds will be used partly to develop a new Sydney data centre in order to capture increasing demand.
