The financial markets tend to move in cycles, with longer-term sequences having a profound impact on asset classes. Disregarding this year, domestic equities have served as a top-performing asset class since the Great Recession. The historic bull market that began in early 2009 saw many U.S.-based companies experience stellar returns in the years that followed. These companies really flourished and handily outperformed their Asian counterparts. In fact, as we can see below, large-cap U.S. stocks dominated emerging market equities over the last decade.Image Source: StockChartsThe iShares MSCI Emerging Markets ETF (EEM) seeks to track the investment results of an index composed of large- and mid-capitalization emerging market equities. While EEM has underperformed for many years, we are beginning to see signs of emerging market equities turning the page. EEM and its constituents have dropped to attractive valuation levels. In particular, many Chinese companies (and their stocks) were hit hard due to extensive COVID-19 related measures, along with regulatory and technology crackdowns in recent years. This has created great value propositions, with many foreign stocks becoming appealing once again.One such company is Pinduoduo (PDD), an e-commerce platform based in Shanghai. The company’s mobile platform offers a range of products such as apparel, shoes, bags, childcare products, food and beverages, furniture and household goods, and sports and fitness items.PDD, a Zacks Rank #1 (Strong Buy) stock, has built an impressive track record in terms of earnings surprises. The company has exceeded estimates in each of the past four quarters with an astounding 557.86% average beat over this timeframe. Pinduoduo most recently delivered second-quarter EPS results back in August of $1.13/SHARE, a 197.37% surprise over the $0.38 consensus estimate. The stock bottomed out well before the major U.S. indexes in March and his risen over 135% since then.Image Source: Zacks Investment ResearchAnalysts covering PDD have increased earnings estimates across the board. For the full year, estimates have risen 86.29% in the past 30 days. The Zacks Consensus Estimate now stands at $3.26/SHARE, reflecting growth of 117.33% relative to last year. At a time when many companies are seeing earnings estimates fall, this company is standing out above the rest. 5 Stocks Set to Double Each was handpicked by a Zacks expert as the #1 favorite stock to gain +100% or more in 2021. Previous recommendations have soared +143.0%, +175.9%, +498.3% and +673.0%. Most of the stocks in this report are flying under Wall Street radar, which provides a great opportunity to get in on the ground floor.Today, See These 5 Potential Home Runs >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report iShares MSCI Emerging Markets ETF (EEM): ETF Research Reports Pinduoduo Inc. Sponsored ADR (PDD): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research