The Nasdaq-100 experienced a significant downturn in July, marking its worst monthly performance since March 2025. Geopolitical events, energy market volatility, and concerns over Federal Reserve policy weighed heavily on the tech-heavy index.
Despite the broad market decline, CNBC Pro identified several Nasdaq-100 stocks that showed resilience. Autodesk, Intuit, and Broadcom stood out among those that advanced in July, boasting strong analyst buy ratings and significant upside potential, driven by strategic AI investments and solid financial results.
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The Nasdaq-100 experienced its most significant monthly drop in over a year, shedding more than 7% in July, a decline not seen since March 2025. Geopolitical tensions in the Persian Gulf, volatile energy prices, uncertainty surrounding Federal Reserve policy, and a sharp fall in semiconductor stocks all contributed to the downturn. Investors also grew cautious about high valuations in the tech sector and questioned the long-term returns on surging capital expenditures. Major players like Tesla and Alphabet saw substantial market value erosion following their recent earnings reports.
CNBC Pro identified resilient stocks within the Nasdaq-100, focusing on those that advanced in July, maintained strong analyst buy ratings (at least 60%), and presented a potential upside of 25% or more based on consensus price targets. Eight such stocks emerged from this rigorous screening:
- Autodesk led the pack with a nearly 21% surge in July. With approximately 75% of analysts rating it a buy and an average price target suggesting a 34% upside, the design software company demonstrated robust performance. Its strong first quarter included an 18% year-over-year revenue growth and the announcement of its intent to acquire MaintainX, a maintenance and operations software provider. Autodesk is also heavily investing in AI, dedicating $200 million to World Labs and integrating AI across its portfolio through 'Autodesk AI.' CEO Andrew Anagnost highlighted the acquisition's goal to enhance AI capabilities for converging digital and physical worlds.
- Intuit followed closely, climbing around 20% in July. Supported by a 60% buy rating from analysts and an implied 41% upside, the tax preparation software giant delivered solid fiscal third-quarter results. Driven by an AI-enhanced expert platform, revenue rose 10% year-over-year to $8.6 billion. The company, owner of TurboTax, Credit Karma, QuickBooks, and Mailchimp, raised its full-year revenue guidance in May, bolstered by a 22% growth in QuickBooks revenue. CEO Sasan Goodarzi emphasized the synergy of Intuit's data, AI, and human expertise in delivering trusted financial intelligence.
- Broadcom managed a 2% gain in July, bucking the trend in semiconductor stocks. With over 76% of analysts recommending a buy—the highest proportion in the screen—and an average price target indicating a 37% upside, Broadcom's AI business continues its rapid expansion. In the second quarter, revenue surged 48% to $22.2 billion, with AI semiconductor revenue more than doubling to $10.8 billion, fueled by demand for custom AI accelerators and networking products. CEO Hock Tan anticipates AI semiconductor revenue to exceed $16 billion, growing over 200% year-over-year in the third quarter. Broadcom also expanded its partnership with Meta Platforms to develop next-generation custom AI accelerator chips.
