These Nasdaq 100 stocks are positive in 2024. CNBC Pro screened for names analysts think have further upside ahead.
Technology stocks have fueled market strength in 2024, and analysts are watching a group of Nasdaq 100 stocks with further upside potential ahead. The tech-heavy index has advanced roughly 19% this year, outperforming the S & P 500 's 15% gain in 2024. Hype surrounding artificial intelligence has been lifting investor sentiment and has underpinned the broader market index's string of record highs in recent days.
mountain Amazon stock has added more than 20% in 2024. Analysts think Amazon can add to its gains over the next 12 months, with consensus price targets from LSEG implying more than 20% upside ahead. The company announced plans in May to overhaul its voice assistant Alexa to integrate AI features. The changes will also include a monthly subscription fee for the enhanced service, which will be separate from Amazon Prime membership. Chipmaker Marvell Technology also made the cut.
mountain Marvell Technology stock. Earlier this month, Goldman Sachs analyst Toshiya Hari stuck with his buy rating on Marvell, citing the company's long-term AI opportunity. "We continue to view the company as one of the key enablers of Gen AI ," he wrote. However, his team lowered its fiscal year 2025-27 earnings forecasts and trimmed its price target to $77 from $84. Online marketplace stock MercadoLibre also made the list.
mountain MercadoLibre's 2024 performance Other stocks in CNBC Pro's screen include PDD Holdings and Diamondback Energy .
Microsoft Corp Apple Inc Broadcom Inc NVIDIA Corp S&P 500 Index NASDAQ 100 Index Diamondback Energy Inc PDD Holdings Inc Marvell Technology Inc Doordash Inc Amazon.Com Inc Markets Investment Strategy Business News
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