InvestorPlace – Stock Market News, Stock Advice & trading Tips
The Nasdaq 100, a collection of 100 top-tier non-financial companies traded on the Nasdaq Composite, is a bastion of technological prowess. With a stellar 53% surge over the last year and a 10% bump since the dawn of 2024, this index outshines its broader sibling, the Nasdaq Composite, which rose by 45% in the same timeframe. For savvy investors, the Nasdaq 100 offers a veritable treasure trove of robust equities. Now, let’s delve into seven Nasdaq 100 stocks poised to turbocharge your gains this March.
Apple (AAPL)
Apple’s (NASDAQ:AAPL) stock performance may not have set the market ablaze lately, with a 7% dip since the year’s start, contrasting with the Nasdaq 100’s 10% ascent. Lingering concerns over dwindling iPhone sales, particularly in China where a 24% decline was reported, have weighed on AAPL stock.
However, the Cupertino tech titan’s diversification into services like streaming, banking, and the cutting-edge “Vision Pro” augmented reality headset signals a compelling narrative. Amidst murmurs of a forthcoming major AI proclamation, Apple’s current setback could well be a strategic buying window for investors.
Applied Materials (AMAT)
Applied Materials (NASDAQ:AMAT) revels in a triumphant year, boasting a 32% surge in 2024 and an impressive 75% spike over the last 12 months. The stalwart’s manufacturing of essential microchip components positions it as the linchpin of the chip industry, with its earliest innovations now enshrined at the Smithsonian.
Fueled by burgeoning AI demands and the imperative of mass-producing microchips, AMAT stock soared post its fourth quarter 2023 earnings announcement, exceeding Wall Street projections by 13%. The company’s robust guidance, buoyed by AI fervor, underscores its techno-prowess.
CrowdStrike Holdings (CRWD)
CrowdStrike Holdings (NASDAQ:CRWD) shines as a premier cybersecurity luminary, wowing markets with its stellar Q4 2023 earnings that triggered a 20% stock surge in a single session. Reporting an EPS of 95 cents against a consensus forecast of 82 cents, coupled with revenue exceeding estimates at $845 million, the company witnessed a whopping 36% revenue uptick in full-year 2023, reaching $3 billion.
Augmented by strategic acquisitions like Flow Security, CRWD stock thrives, flaunting a 34% YTD rise and a staggering 171% surge over the last year.
Costco Wholesale (COST)
In a Nasdaq 100 roster teeming with tech titans, Costco Wholesale (NASDAQ:COST) stands as a non-tech luminary. Despite initial market jitters post earnings release, COST stock surged 3% on the day, amassing a 13% YTD spike. With a robust 56% increase over the last 12 months, Costco’s sales growth story remains unwavering, bolstered by an 18% annualized rise in e-commerce sales.
Under new stewardship post-executive retirements, Costco’s saga unfolds with a seamless leadership transition, spelling continued success for this retail juggernaut.
Broadcom (AVGO)
Broadcom (NASDAQ:AVGO) emerges as another chip champ in the Nasdaq 100 fold, radiating alongside the microchip sector’s euphoria and escalating AI appetite. Reporting earnings exceeding estimates at $10.99 per share and revenue topping predictions at $11.96 billion, AVGO stock’s stellar performance, with a 107% YOY surge and a 17% YTD rise, underscores its technological ascendancy.
Touted for conservative yet solid guidance, Broadcom’s footprint extends beyond AI to diverse sectors including networking, broadband, server storage, wireless, and industrial domains.
Diamondback Energy (FANG)
Diamondback Energy (NASDAQ:FANG), the lone oil and gas torchbearer within the Nasdaq 100 cohort, exemplifies resilience amidst turbulent oil market tides. With an 18% uptick in 2024, a 40% 12-month surge, and an 80% five-year climb, FANG stock’s trajectory remains undaunted.
In a strategic mastery move, Diamondback’s acquisition spree, notably the $26 billion deal with Endeavor Energy Partners, fortifies its grip on the Permian Basin’s oil riches, charting a robust growth course.
Netflix (NFLX)
Netflix (NASDAQ:NFLX) reigns supreme in the global streaming cosmos, outshining rivals with profitable sagas amid stiffer competition. With a staggering 13.1 million net subscriber additions in Q4 2023 against Wall Street projections, NFLX stock’s meteoric 31% YTD rise and a 109% 12-month surge attests to its streaming dominance.
Amid forays into ads, password policing, and live sports spice-ups, Netflix’s foray into live boxing spectacles, featuring the Mike Tyson-Jake Paul tussle, signals its unyielding quest for diversified entertainment realms.
On this note, Joel Baglole hits the mark with a decisive long stance in AAPL and AMAT holdings. The views herein represent the writer’s opinions, adhering to the InvestorPlace.com Publishing Guidelines.
More From InvestorPlace
The post Spring Forward With Tech: 7 Nasdaq 100 Stocks to Fuel Your March Gains appeared first on InvestorPlace.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
