The Nasdaq 100 Index jumped to a record high this week, helped by the ongoing demand for artificial intelligence solutions. It soared to a high of $22,320, up 32% from its lowest level in April, meaning it is in a deep bull market. This article highlights the best-performing Nasdaq 100 Index stocks of the year.
Top Nasdaq 100 Index stocks of the year
Most Nasdaq 100 Index stocks have jumped this year, with the top gainers being in the artificial intelligence sector.
For example, NVIDIA, the biggest semiconductor company by market cap, jumped to a record high of $155 on Wednesday, giving it a market capitalization of over $3.7 trillion, and making it the biggest firm globally.
Its surge marked a remarkable turnaround for a company whose stock plunged to $86 in April. Other top gainers in the Nasdaq 100 Index are the likes of Palantir (PLTR), ZScaler (ZS), Micron (MU), MercadoLibre (MELI), CrowdStrike (CRWD), and Netflix (NFLX).
Palantir (PLTR)
Palantir is the best-performing Nasdaq 100 Index stock this year as it jumped by over 87% and by nearly 500% in the last 12 months. This growth has pushed its market capitalization to over $337 billion, making it the 28th biggest company globally.
Palantir stock price has jumped because of its strong growth and demand for its artificial intelligence solutions. Investors have also cheered its growth in the commercial segment.
Its revenue rose by 39% in the last quarter to $884 million, with its commercial division jumping by 71%. Most of this revenue growth is happening as more companies embrace its solutions, with its customer accounts rising by 39%.
Palantir also boosted its forward guidance, with its annual revenue expected to be between $3.8 billion and $3.9 billion, while its adjusted cash flow is expected to jump to between $1.6 billion and $1.8 billion.
Read more: Here’s why Palantir stock price is cheap and could surge 35%
Zscaler (ZS)
The Zscler stock price has jumped by 50% this year, making it the second-best performing company in the Nasdaq 100 Index. Its jump also happened because of the robust earnings and demand for its solutions.
Its revenue jumped by 23% in the first quarter to $678 million, while its cash flow jumped to $211 million. Like Palantir, the company also boosted its forward guidance, with its second quarter revenue expected to be between $705 million and $707 million. Its annual revenue will be between $2.65 billion and $2.6 billion.
Mercadolibre (MELI)
Mercadolibre is another top gainer in the Nasdaq 100 Index this year, with its stock surging by 48%. This growth happened as the company’s presence in the Latin American industry boomed and its fintech solutions grew.
The most recent earnings showed that MELI’s gross merchandise volume jumped by 17% to $13.3 billion, while its revenue rose by 37% to $5.9 billion. Its net income rose to $494 million, and the management anticipates this growth will continue.
Read more: MercadoLibre stock price has dropped: time to buy the MELI dip?
CrowdStrike (CRWD)
CrowdStrike, as we wrote this week here, has become another top company in the Nasdaq 100 Index, a week after a bug knocked down most of its customers for a few hours.
CrowdStrike stock price has jumped to a record high as its revenue soared by 20% to $1.1 billion in the first quarter. Its annual recurring revenue rose by 22% to $4.4 billion.
The company is benefiting from two tailwinds: artificial intelligence and cybersecurity growth. This is notable since its business is at the intersection of the two businesses.
Other top gainers in the Nasdaq Index
Many other companies in the Nasdaq 100 Index have jumped this year. The most notable of them are Doordash, Constellation Energy, Take-Two Interactive, Axon Enterprise, Strategy, Arm Holdings, and Microchip Technology.
On the other hand, the top laggards in the index are firms like The Trade Desk, Lululemon Athletica, Marvell Technology, Regeneron, Apple, and Atlassian. All these stocks have plunged by over 20% this year.
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