The 4 Best Nasdaq 100 Stocks to Buy

The Nasdaq 100 surged after the Fed announced a 75 basis point rate hike for the second consecutive month and hinted that it would pause policy tightening depending on economic data. This, combined with better than expected corporate earnings, should help the index remain resilient in the near term. Therefore, it might make sense to invest in the Nasdaq 100 Adobe (ADBE), Autodesk (ADSK), Dollar Tree (DLTR) and Gilead Sciences (GILD). Read on….

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The Nasdaq 100 gained more than 4% after the Federal Reserve announced a 75 basis point interest rate hike in response to the decades high inflation for the second month in a row. This is the biggest Nasdaq rally since November 2020.

The stock market rallied yesterday despite US GDP contracting 0.9% for the second consecutive quarter. Better than expected corporate earnings could help the Nasdaq 100 remain resilient in the near term.

So we think it might be a good idea to invest in fundamentally sound Nasdaq 100 stocks of Adobe Inc. (ADBE), Autodesk, Inc. (ADSK), Dollar Tree, Inc. (DLTR), and Gilead Sciences, Inc. .( GOLD).

Adobe Inc. (ADBE)

ADBE operates as an internationally diversified software company. It operates through three segments: Digital Media, Digital Experience, and Publishing & Advertising.

Last month, ADBE announced innovations for its customer data platform (CDP), Adobe Real-Time CDP, to help brands transition from third-party cookies to first-party data. As businesses across industries adopt Adobe Real-Time CDP, ADBE introduces enriched customer profiles with commerce, AI-based targeting, new privacy and security tools, and segment matching across all channels .

In addition, last month ADBE expanded its partnership with The Home Depot to enhance the customer experience. As part of the company's interconnected retail strategy, a seamless experience extends to e-commerce, an award-winning mobile app and in-store services such as pick-up lockers and a product locator integrated into the app. With so many touchpoints, the ADBE partnership will provide comprehensive insights into the customer journey.

ADBE's total revenue increased 14.4% year-over-year to $4.39 billion for the second quarter ended June 3, 2022. Its non-GAAP operating income increased increased 12% from its prior year value of $1.97 billion, while GAAP net income was $1.59 billion, up 8.9% from the previous year. quarter of the previous year. The company's non-GAAP EPS increased 10.6% year-on-year to $3.35.

Analysts expect ADBE's revenue to grow 12.9% year-on-year to $4.44 billion for the third quarter ending August 2022. The consensus EPS estimate of $3.35 represents a 7.7% year-over-year improvement for the third quarter ending August 2022. . The stock has gained 10.2% over the past month.

ADBE's POWR ratings reflect this promising outlook. The company has an overall rating of B, which translates to Buy in our proprietary rating system. POWR ratings rate stocks on 118 different factors, each with its own weighting.

The stock also has an A rating for quality and a B for sentiment. Within the F-rated software and applications industry, ADBE is ranked #31 out of 154 stocks

Click here to view additional POWR ratings for ADBE Growth, Value, Stability and Momentum.

Autodesk, Inc. (ADSK)

ADSK provides 3D design, engineering and entertainment software and services worldwide. The company offers AutoCAD Civil 3D, surveying, design, analysis, and documentation solutions for civil engineering, including land, transportation, and environmental projects.

In April, ADSK announced the adoption of Autodesk Construction Cloud and the implementation of a powerful construction management platform into its standard operating procedures (SOPs). Evans teams will use Autodesk Construction Cloud to quickly integrate...