Deep Dive: Here are Wall Street’s favorite big tech stocks as the Nasdaq closes in on another milestone

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All three of the major U.S. stock indexes hit records Friday, and the Nasdaq Composite Index might reach its next milestone — 15,000 — next week.

Below is a list of stocks whose gains have powered the Nasdaq Composite Index’s
COMP,
+1.04%

gains this year, along with another list of analysts’ favorite stocks among the Nasdaq-100 Index
NDX,
+1.15%
.

Here’s a summary of Friday’s action:

  • The S&P 500 Index
    SPX,
    +1.01%

    rose to another intraday record high and closed at 4,411.79, for gains of 1% on the day and 16.3% for 2021, following an advance of 16.3% in 2020.

  • The Dow Jones Industrial Average
    DJIA,
    +0.68%

    closed above 35,000 for the first time, up 0.7% for the session at 25,061.55. The index has gained 14.6% in 2021, following last year’s 7.2% increase.

  • The Nasdaq Composite Index also set an intraday record Friday and closed at 14,836.99 for a gain of 1%. The index is now up 15.1% for 2021, following a surge of 43.6% in 2020.

  • The Nasdaq-100 Index hit its own intraday record high and closed with an advance of 1.1%. It has risen 17.3% this year, following a gain of 47.6% in 2020.

(Note: All price changes in this article exclude dividends.)

Nasdaq-100 winners for 2021

The Nasdaq-100 Index is made up of the 100 largest non-financial companies by market capitalization in the full Nasdaq Composite Index. It is reconstituted each year in December. Both indexes are weighted by market cap, and the Nasdaq-100’s market cap of $17.21 trillion is about 73% of the full index. So most of the full Nasdaq’s performance is represented by the Nasdaq-100, which is tracked by the Invesco QQQ Trust
QQQ,
+1.17%
.

Here are the 10 stocks among the Nasdaq-100 that have risen the most during 2021 through July 23:

Company

Price change – 2021

Price change – July 23

52-week high

Date of 52-week high

Decline from 52-week high

Moderna Inc.
MRNA,
+7.84%
233.9%

7.8%

$349.45

07/23/2021

-0.2%

Applied Materials Inc.
AMAT,
+0.91%
60.4%

0.9%

$146.00

04/05/2021

-5.2%

Alphabet Inc. Class C
GOOG,
+3.37%
57.3%

3.4%

$2,776.17

07/23/2021

-0.7%

ASML Holding NV ADR
ASML,
+2.50%
53.4%

2.5%

$756.78

07/23/2021

-1.1%

Alphabet Inc. Class A
GOOGL,
+3.58%
51.8%

3.6%

$2,667.98

07/23/2021

-0.3%

Nvidia Corp.

49.8%

-0.2%

$208.75

07/07/2021

-6.3%

EBay Inc.
EBAY,
+2.05%
46.3%

2.1%

$73.77

07/23/2021

-0.3%

Intuit Inc.
INTU,
+1.37%
39.1%

1.4%

$532.33

07/23/2021

-0.7%

Idexx Laboratories Inc.
IDXX,
+1.57%
38.8%

1.6%

$696.35

07/23/2021

-0.4%

DocuSign Inc.
DOCU,
+0.16%
38.8%

0.2%

$310.51

07/22/2021

-0.6%

CDW Corp.
CDW,
+1.97%
37.3%

2.0%

$184.58

04/16/2021

-2.0%

Source: FactSet

Actually, there are 11 stocks on the list because the index includes Alphabet Inc.’s Class C
GOOG,
+3.37%

and Class A
GOOGL,
+3.58%

shares.

Seven of those stocks hit 52-week highs July 23.

Wall Street’s favorite stocks in the Nasdaq-100

Here are the 10 stocks in the Nasdaq-100 with “buy” or equivalent ratings among at least 75% of analysts polled by FactSet, with the most 12-month upside potential implied by consensus price targets:

Company

Share “buy” ratings

Closing price – July 23

Consensus price target

Implied 12-month upside potential

Price change – July 23

Price change – 2021

Baidu Inc. ADR Class A
BIDU,
-3.27%
86%

$172.66

$311.92

81%

-3.3%

-20.2%

Micron Technology Inc.
MU,
+0.54%
88%

$75.94

$121.25

60%

0.5%

1.0%

JD.com Inc. ADR Class A
JD,
-4.77%
91%

$72.29

$98.15

36%

-4.8%

-17.8%

NetEase Inc. ADR

86%

$103.53

$134.54

30%

-8.0%

8.1%

Vertex Pharmaceuticals Inc.
VRTX,
+2.29%
78%

$200.50

$259.71

30%

2.3%

-15.2%

Microchip Technology Inc.
MCHP,
+0.61%
76%

$139.22

$177.14

27%

0.6%

0.8%

Activision Blizzard Inc.
ATVI,
+1.14%
88%

$91.50

$116.09

27%

1.1%

-1.5%

Fiserv Inc.
FISV,
+1.58%
85%

$111.79

$141.27

26%

1.6%

-1.8%

MercadoLibre Inc.
MELI,
+1.42%
78%

$1,613.81

$2,021.37

25%

1.4%

-3.7%

Netflix Inc.
NFLX,
+0.71%
78%

$515.41

$619.67

20%

0.7%

-4.7%

Source: FactSet

Chinese stocks listed in the U.S. took a beating Friday, and you can see from the three on this list (Baidu Inc.
BIDU,
-3.27%
,
JD.com Inc.
JD,
-4.77%

and NetEase Inc.
NTES,
-8.01%

) that this hasn’t been a good year for the group. Therese Poletti explained why.

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