Welcome to another week of trading. Today, we’re going to take a look at the NASDAQ-100 and pick out some of the stocks that might make it soar in 2021! Might… don’t make us call compliance!
What is the NASDAQ-100?
Since its formation in 1985, the NASDAQ-100, sometimes called the US Tech 100, has been one of the most followed stock indexes on the planet. It had a market cap of $9.8 trillion in 2019, which makes it larger than the Dow Jones Industrial Average ($8.33 trillion), and considerably bigger than the FTSE 100, DAX30 and EURO STOXX 50.
The enormity of that market cap is because it comprises 100 of the largest tech companies around, which means it gives a pretty nifty snapshot of both US and international economic health whenever you might be looking for it.
Top NASDAQ stocks to watch, 2021
Let’s take a peek at some of the stocks that might rock the NASDAQ-100 in 2021 and help push that market cap up even higher.
Micron Technology, Inc. (MU)
Micron produces computer memory and data storage hardware, including dynamic random-access memory (DRAM) chips — you know, the thing that makes your computer or smartphone do things reeeally fast.
You might think this kind of stock is an easy buy, but the last couple of years have been a little bit sticky for computer hardware manufacturers. Global consumption of smartphones, personal computers, servers and all that jazz had been a little slower since 2018. Things rebounded nicely in late 2020, though, and Micron are pushing to continue the catch-up in 2021.
Price 28.02.2020: 52.56 USD
Price 26.03.2021: 91.53 USD
1Y Performance: +74.14%
MU, 12 months
Adobe Inc. (ADBE)
This one needs less of an introduction. Adobe’s products have been world renowned since the company was formed way back in 1982.
The software supremo has coped pretty well throughout the pandemic, particularly with products like Adobe Sign, a cloud-based e-signature service, which has helped many home-office workers continue to do business in these testing times.
Beyond COVID, Adobe’s Software-as-a-Service (SaaS) platform should be on the shopping list of a large bulk of freelancers and sole traders that make up the burgeoning gig economy. That makes the future look particularly promising.
Price 28.02.2020: 345.12 USD
Price 26.03.2021: 459.67 USD
1Y Performance: +33.19%
ADBE, 12 months
Intuit, Inc. (INTU)
Intuit is a company that specialises in writing financial software. We’re going to level with you, because of the nature of its product offering, the California-based techie is, quite possibly, one of the dullest stocks on the NASDAQ-100. However…
Tax software — no one likes it, but most people need it! And in a demand driven market, that’s exactly the kind of stock you should be looking for.
That gig economy we mentioned before, those freelancers are going to be filling out a whole lotta tax forms, and many of them will stump for Intuit’s flagship product, Quickbooks.
Pretty boring, yes it may be. But INTU makes our little list because it also has very good potential!
Price 28.02.2020: 265.85 USD
Price 26.03.2021: 390.14 USD
1Y Performance: +46.75%
INTU, 12 months
What’s going on this week?
There’s a good smattering of things going on this week, and some very important events toward the end of it. We highly recommend keeping an eye on the following events.
Monday 1st March
● USD — Markit Manufacturing PMI Final (FEB) + ISM Manufacturing PMI (FEB)
Tuesday 2nd March
● AUD — RBA Interest Rate Decision
● EUR — Core Inflation Rate YoY Flash (FEB)
● CAD — GDP Growth Rate Annualised (Q4) + GDP Growth Rate QoQ (Q4)
Wednesday 3rd March
● AUD — GDP Growth Rate YoY (Q4)
Thursday 4th March
● No major events are planned.
Friday 5th March
● CAD — Balance of Trade (JAN)
● USD — Non Farm Payrolls (FEB) + Unemployment Rate (FEB)
Here at Contentworks we closely follow market movements and prep content that we think your traders would love to read. Let’s get you started right here.
The Contentworks team