Home Business News The top two NASDAQ stocks to buy in 2024

The top two NASDAQ stocks to buy in 2024

by Thea Coates Finance Reporter
1st Apr 24 2:07 pm

The NASDAQ is home to some of the most successful tech stocks in trading today.

Tech took a big hit in 2022, with a 33% drop. However, these stocks have seen a huge rebound over the last few years and have shown incredible performances.

  • With tech leading the way, NASDAQ will take off in the coming years.
  • Amazon is a leader in all of the biggest tech industries.
  • CrowdStirke shows unmatchable growth within cybersecurity.

While the technology sector has benefited from recent advancements in cloud computing and AI, some stocks stand above the others. Joel Lim, a financial analyst at Trading.Biz, has identified the absolute best NASDAQ stocks to buy this year for huge returns.

Amazon and Crowdstrike Holdings offer some of the best software and solutions in the tech market right now, and investors should act before it’s too late.

Amazon (AMZN)

Amazon is one of the largest companies in the world, and its domination in the tech sector is undeniable. With the largest e-commerce platform on the planet and a growing foothold in cloud computing, Amazon is at the forefront of two of the biggest areas within tech.

Amazon’s cloud computing platform, Amazon Web Services (AWS), offers an incredible variety of services and is one of the largest cloud providers on the planet. Using AWS, Amazon is investing in the next driver of its online business: AI.

Amazon recently invested $4 billion in an AI startup, Anthropic, to further progress the potential of generative AI. Anthropic uses AWS as its primary cloud provider to provide cutting-edge, cost-effective applications to Amazon customers.

Joel Lim notes, “Amazon is investing in AI, cloud computing, and e-commerce to fund future growth for itself and the sector as a whole.”

The key to Amazon’s continued success is its growing market share in these areas with booming demand. The following chart shows how Amazon has started severely outperforming NASDAQ this year.

Amazon shows no signs of slowed growth, and investors will only benefit from owning It while it continues to dominate and expand its extensive reach in tech.

CrowdStrike Holdings (CRWD)

CrowdStrike is a leader in the massive cyber security market, which goes hand in hand with tech to the extent of its modern applications. CrowdStrike rises above the competition with its diverse services and the simplicity it brings for customers looking to implement security measures.

CrowdStrike has seen unparalleled growth over the last year thanks to its unmatched software. In Fiscal 2024, CrowdStirke saw a 36% jump in revenue and set a new record with a $225.2 million increase in net cash from the previous year.

Joel Lim mentions, “After partnering with major players like Nvidia and receiving more attention for its AI-native CrowdStrike Falcon platform, the soaring revenue estimates for 2025 are reasonable.”

CrowdStrike’s new AI platform provides an entirely automated security solution for businesses. The platform passed the IRAP and TISAX assessments, which are important government assessments that certify its capability and safety and further accelerate its adoption into mainstream cybersecurity.

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