Wall Street’s Favorite Nasdaq Stocks? 7 Names That Could Make You Filthy Rich.

Stocks to buy

If you dream of becoming filthy rich without having to work hard for it, you are not alone. Many of us dream of making big money and this can be achieved through the right investments. The stock market has made many people billions and if you pick the right stocks and hold on to them, there is a chance it could make you filthy rich as well. Here are a few favorite Nasdaq stocks that have the potential to make significant gains but it will not happen overnight. 

You must stay invested for the long-term and hold on to the stocks in the market’s ups and downs. While these stocks aren’t cheap, they have already proved their worth in the industry. These are some of the best and biggest players in the industry with a strong global presence, solid balance sheet and the potential to keep moving higher. Let’s take a look at them in detail. 

Amazon (AMZN)

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Trading at a 52-week high, Amazon (NASDAQ:AMZN) stock has the potential to make you filthy rich in the coming years. The stock has gone from $149 in January to $180 today and there is no stopping its momentum. As one of the biggest e-commerce companies in the world, Amazon has a global presence and it is expanding its market share

Besides being an e-commerce giant, the company also offers services of cloud and advertising which are its main revenue sources. The fourth-quarter results showed that Amazon has a strong balance sheet and its advertising segment is thriving. 

As the economy improves, we will see more marketers looking for a spot on Amazon and this could help boost the financials. Amazon is in an excellent place today with the potential to keep soaring higher. 

The company’s investments in artificial intelligence are paying off and it recently completed the acquisition of Anthropic to accelerate generative AI. Amazon has already been using AI on its platform and is steadily investing in the latest technology to ensure an improved consumer experience. 

Microsoft (MSFT)

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Tech giant Microsoft (NASDAQ:MSFT) is one of the top tech stocks to own today. It is a part of several funds and is one stock that doesn’t disappoint. The company’s timely investment in OpenAI is paying off. 

It has also integrated AI in its products and services which has helped improve the revenue. Currently, Microsoft’s cloud service is one of the biggest revenue generators and will be launching AI for cybersecurity professionals from April 1.

Fundamentally, Microsoft is a solid business with high liquidity. The company believes in rewarding shareholders and has a dividend yield of 0.71%. Trading at $420, MSFT stock is up 13% year-to-date and over 49% in the year. 

It is hard for us to imagine a world without Microsoft. While we may have become used to its operating system, Microsoft has a diverse range of products and services that meet the changing needs of businesses and individuals. It is expected that the personal computers market will pick up this year and this will help Microsoft keep soaring.

Nvidia (NVDA)

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If you were an early-stage investor in Nvidia (NASDAQ:NVDA), it might have already made you filthy rich but if you missed the bus, there is still time to jump in. While many think that Nvidia’s rally is about to end, I tend to disagree. As long as there is a growing demand for AI chips and there is an imbalance in the market, Nvidia will continue growing.

It has recently launched a new chip which is also the “world’s most powerful AI chip” and I believe it will help the revenues hit record high. Trading at $903, the stock is up 87% YTD and 234% in the year. 

Nvidia has the potential to keep growing beyond the AI chips. It had already set a gold standard in its graphics processing units (GPUs) and it has a strong presence in the gaming industry.

The company’s leadership, innovation and advancement in the AI sector have given it an edge over its competitors and it might not be possible for any other company to come close to Nvidia’s feat.

Alphabet (GOOG, GOOGL)

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Already at an all-time high, Alphabet (NASDAQ:GOOG, NASDAQ:GOOGL) is one of the “Magnificent Seven” stocks that should be on your radar. The company’s history, global presence and revenue-generating segments make it a top stock to own. Alphabet makes a significant amount of money from YouTube and Google Search and there is no other company that has been able to come close to Google Search. 

The company has a stronghold in the AI market and its Cloud segment is thriving. It did see a drop in the ad revenue due to inflationary pressures but I think this dip is temporary. Alphabet has a Google Gemini platform and Apple (NASDAQ:AAPL) might license Gemini for its next iPhone. If this deal is finalized, it can give a boost to GOOG stock. 

Exchanging hands for $155 today, the stock looks cheap to me and it is up 9% YTD. With Alphabet, you can never go wrong and you get what you pay for. This company has survived several ups and downs in the market and yet remains as strong as ever.

No matter what you are looking for, Google search is one of the first things you will go to and it will become tough for any other company to beat Alphabet’s dominance here. 

Apple (APPL)

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Maker of the world-renowned iPhones, Apple had a tough time in 2023 when its sales dipped and the stock dropped. However, the company is back on track and is speculated to be working on an AI phone right now. Trading at $171, AAPL stock has dropped 7% YTD and this dip is a good chance to own the stock.

The stock slipped after the company was fined by the European Commission and it has seen phone sales dropping in China. However, I believe that one strong reason to bet on the stock is its brand name and loyalty. People do not easily switch from Apple phones to another operating system and it is this loyalty that keeps the revenue steady. This makes it one of those favorite Nasdaq stocks to buy.

The company also has enough cash to overcome short-term setbacks and invest in innovation. While the drop in China sales is a cause of concern, this could be temporary and it could be offset by a sales increase in another region.

Its services segment is also thriving and showed a 11% growth in the first-quarter results. Apple is a long-term play and could make you rich over the next few years. 

Meta Platforms (META)

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The reason Meta Platforms (NASDAQ:META) is up 40% YTD, is the advertising revenue which has bounced back from the slump. As one of the top revenue generators for the company, Meta saw its advertising revenue soar 24% in the fourth quarter and hit $38.7 billion. The company is also investing heavily in AI and has made significant progress in the same.

Meta has seen a steady increase in users and this is what keeps the marketers glued to the platform. It saw an 8% year-over-year increase in daily active users while a 6% YOY rise in monthly active users in the fourth quarter. 

These numbers prove the company’s potential to ensure high engagement and thus, improve the ad business. With an improvement in the economy, we could see Meta report stronger than expected ad revenue. 

It aims to achieve a revenue of $34.5 billion in the first quarter, which will be a double-digit rise from 2023’s revenue. The company is also expecting to achieve growth in AI and metaverse over the coming years. Meta is one of the favorite Nasdaq stocks of the Wall Street.

Visa (V)

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One of the best fintech stocks and favorite Nasdaq stocks to own today, Visa Inc (NYSE:V) has a global presence and caters to over 100 million merchants. The company has nailed a business model where it steadily earns revenue while keeping the operating costs at a minimum.

It charges a fee whenever a Visa card is used and considering that there are over 4 billion Visa cards worldwide, the company is a safe investment. Visa was thriving even in periods of high inflation and with an improvement in consumer spending, we could see it hit new highs.

Trading at $279, V stock is up 7% YTD and moving closer to the 52-week high of $290. With Visa, there is low risk and high reward potential. It is a safe business that will continue to thrive in the coming years.

It is taking significant steps to expand its footprint in Africa and has recently made investments through the Africa Fintech Accelerator program to invest in early-stage startups through local firms. 

The stock also enjoys a dividend yield of 0.75% and could generate passive income for you while you enjoy the strong upside. It’s one of my favorite Nasdaq stocks to buy.

On the date of publication, Vandita Jadeja did not hold (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.

Vandita Jadeja is a CPA and a freelance financial copywriter who loves to read and write about stocks. She believes in buying and holding for long term gains. Her knowledge of words and numbers helps her write clear stock analysis.

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