A collapsing U.S. dollar is reshaping the global investing landscape, and seven U.S. companies with strong international sales could be the biggest winners if the greenback keeps sliding into the second half of 2025.
The U.S. Dollar Index (DXY) — a widely followed gauge tracking the greenback’s performance against a basket of currencies — has plunged 10.5% year-to-date, logging its worst first-half performance since 1991 and marking five straight months of declines, a streak not seen since 2017.
The move is stirring investor attention toward U.S. multinationals that earn the bulk of their revenue abroad, as a weaker dollar makes their goods and services more affordable in foreign markets and boosts the value of overseas profits.
What Triggered The Dollar Collapse?
The dollar's decline defied early expectations of strength under President Donald Trump, whose tax cuts and protectionist trade agenda initially pointed to a stronger greenback — but ultimately had the opposite effect.
The turning point came in March, when Germany scrapped its fiscal restraint and launched a large-scale stimulus, while the EU unveiled its €800 billion "ReArm Europe" plan. Capital quickly shifted into the eurozone and triggered a sharp euro appreciation.
In April, Trump's sweeping "Liberation Day" tariffs sparked uncertainty and heightened market anxiety over U.S. assets.
The dollar took another hit when the U.S. economy contracted 0.5% in the first quarter, and Moody's downgraded U.S. sovereign debt, stripping the country of its last AAA rating amid mounting debt and rising interest costs.
The situation worsened as President Trump escalated attacks on the Federal Reserve's independence, repeatedly pressuring Chair Jerome Powell to cut interest rates. The political interference rattled markets, fueling speculation that Powell could be replaced in May 2026 by a more dovish and Trump-aligned successor, further eroding confidence in the dollar.
Read Also: Trump Presidency Ushers In Dollar’s Worst Six-Month Slide In 34 Years
7 U.S. Multinationals Rallying As The Dollar Sinks
A weaker dollar boosts U.S. companies that sell most of their goods or services abroad by increasing their global competitiveness and raising the value of foreign revenues when converted back to dollars.
Here are seven U.S. stocks that are not only globally exposed — but also outperformed the market in June as the greenback fell:
- Jabil Inc. (NYSE:JBL)
- Estée Lauder Companies (NYSE:EL)
- Broadcom Inc. (NASDAQ:AVGO)
- Texas Instruments Inc. (NASDAQ:TXN)
- Freeport-McMoRan Inc. (NYSE:FCX)
- Caterpillar Inc. (NYSE:CAT)
- Nike Inc. (NYSE:NKE)
| Company | Revenue Outside U.S. (Fiscal year 2024) | % International Sales | June 2025 Return | Key Markets Abroad |
|---|---|---|---|---|
| Jabil Inc. | $23.84B | 82.5% | +29.39% | Mexico, China, Singapore |
| Estée Lauder Companies | $11.68B | 75% | +19.30% | EMEA, China, Korea |
| Broadcom Inc. | $38.68B | 75% | +13.97% | China, Singapore, EMEA |
| Texas Instruments Inc. | $9.03B | 60% | +13.75% | China, Germany, Japan |
| Freeport-McMoRan Inc. | $17.4B | 69% | +12.93% | Japan, Switzerland, Chile |
| Caterpillar Inc. | $30.42B | 47% | +11.74% | EMEA, Asia-Pacific |
| Nike Inc. | $29.9B | 58% | +18.14% | China, EMEA, Latin America |
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