Top Nasdaq Stocks to Buy Now

The Nasdaq-100 has been dominating the stock market rally this summer, leaving the Dow Jones Industrial Average in its wake. While the technology sector has been the main driver of this outperformance, there are other non-tech plays in the Nasdaq 100 that are also worth considering for investors.

One such stock is Costco (COST), a big-box retailer that has seen a solid 32% gain year-to-date. Despite trading at a relatively high P/E ratio, Costco has several avenues to increase profitability, including potential membership fee hikes and embracing automation to save on labor costs. With stability in the retail sector and a strong track record, Costco is considered one of the solid Nasdaq stocks to buy now.

Another top pick is Netflix (NFLX), which has outpaced the Nasdaq 100 with an impressive 45% gain YTD. The streaming giant has been focusing on live sports as a major growth pathway, with deals in the works to air NFL games and WWE matches. While the sports expansion may or may not generate increased growth, NFLX stock remains a top Nasdaq momentum play.

Lastly, Qualcomm (QCOM) has seen a 53% surge this year as investors flock to the edge artificial intelligence play. Despite recent reports of compatibility issues with new Qualcomm Snapdragon-powered AI PCs, QCOM stock still looks cheap at 28.8 times trailing P/E. If software compatibility issues lead to a further pullback, investors may have another opportunity to buy into this AI hardware refresh cycle.

Overall, these three Nasdaq stocks offer great growth opportunities for investors looking to capitalize on the summer stock market rally. Whether you’re a seasoned investor or just starting your portfolio, these stocks present compelling investment opportunities in a market that continues to show strength.