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The year 2024 has been hot for the Nasdaq. The Nasdaq 100 Index has been setting new records almost every week, and companies in fields such as artificial intelligence (AI) and semiconductors are skyrocketing.
Despite concerns of a potential bubble, there are still some great buys within the Nasdaq. Here are three stocks that offer attractive entry points:
Bruker (BRKR)
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Bruker (NASDAQ:BRKR) is a standout life sciences company known for its niche lab equipment, especially nuclear magnetic resonance (NMR) spectroscopy machines. Despite a recent sales slowdown amidst the pandemic, Bruker announced excellent earnings results earlier this week.
Bruker’s “BEST” division, focused on energy and superconductor technologies, is rapidly growing. This, together with the increased adoption of its superconductors in applications such as renewable energy and electronics, makes BRKR stock a compelling choice as its shares surge.
Honeywell (HON)
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Honeywell (NASDAQ:HON), a leading industrial company, has a rich history of inventions, from the thermostat to technologies like barcodes and aviation autopilots. Today, Honeywell is at the forefront of industrial automation, supporting functions such as smart warehouses and logistics networks, and even venturing into quantum computing through its spinoff, Quantinuum.
Considering its innovative endeavors and solid valuation, HON stock presents a great opportunity for growth exposure across multiple promising fields.
Pepsico (PEP)
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Surprisingly situated on the Nasdaq, soft drinks and snack food giant Pepsico (NASDAQ:PEP) has been overlooked in the market’s recent exuberance. However, PEP stock is attractively valued at 21 times forward earnings, offering steady earnings growth and rising dividend payments.
Despite concerns about consumer staples companies in the face of higher interest rates and evolving market trends, Pepsico continues to be a solid, relatively undervalued Nasdaq stock.
On the date of publication, Ian Bezek held a long position in BRKR stock. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
Ian Bezek has written more than 1,000 articles for InvestorPlace.com and Seeking Alpha. He also worked as a Junior Analyst for Kerrisdale Capital, a $300 million New York City-based hedge fund. You can reach him on Twitter at @irbezek.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
