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Palantir Technologies (NASDAQ: PLTR) currently holds the top year-to-date performance among the Nasdaq 100 stocks. However, investors are advised to consider alternatives like Spotify Technology (NYSE: SPOT) and Amazon (NASDAQ: AMZN).
Spotify Technology
Spotify has risen 64% year to date, driven by a strong paid subscriber base and successful cost management, leading to a gross margin of 31%. Over the last year, Spotify generated $1.3 billion in net income. The growth of streaming services continues to provide room for subscriber increases globally.
Amazon
Amazon has only advanced by 57% over the last five years, lagging behind the S&P 500’s 93%. However, Amazon Web Services (AWS) generates over $100 billion annually and accounts for more than half of Amazon’s profits. Additionally, advancements in robotics are expected to boost e-commerce margins significantly.
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5 Stocks Our Experts Predict Could Double In the Next Year
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