The Nasdaq-100 endured its worst monthly performance since March 2025, falling over 7% in July due to geopolitical concerns, energy market volatility, and doubts about tech valuations. Despite the broad market decline, eight Nasdaq-100 stocks demonstrated resilience. Companies like Autodesk, Intuit, and Broadcom stood out due to strong fundamentals, AI integration, and positive analyst outlooks, suggesting potential for continued outperformance.
The Nasdaq-100 experienced its most significant monthly drop in over a year, plummeting more than 7% in July. This downturn, the steepest since March 2025, was fueled by a confluence of geopolitical tensions in the Persian Gulf, volatile energy prices, uncertainty surrounding Federal Reserve policy, and a sharp decline in semiconductor stocks. Investors also grew cautious about the elevated valuations of tech giants and questioned the long-term returns on massive capital spending.
Amidst this challenging market environment, CNBC Pro identified a select group of Nasdaq-100 companies that not only weathered the storm in July but are also poised for future outperformance. The selection process involved pinpointing stocks that advanced during the month, then narrowing the field to those with at least 60% of analysts rating them a 'buy' and an average consensus price target suggesting a minimum of 25% potential upside.
Top Performing Stocks in a Down Market
Eight companies made the stringent cut, demonstrating remarkable resilience:
1. Autodesk (ACAD)
Leading the pack, Autodesk surged nearly 21% in July. With approximately 75% of analysts recommending a 'buy' and an implied 34% upside potential, the design software provider showcased strength following a robust fiscal first quarter. The company reported an 18% year-over-year revenue increase and announced its strategic acquisition of MaintainX, a maintenance and operations software firm. Autodesk is also making significant investments in artificial intelligence, dedicating $200 million to World Labs for its AI foundation and extensively integrating AI across its software portfolio through its 'Autodesk AI' initiative. CEO Andrew Anagnost highlighted the goal of using MaintainX to enhance AI capabilities for converging digital and physical realms.
2. Intuit (INTU)
Close on Autodesk's heels, Intuit climbed approximately 20% in July. The tax preparation software company, owner of TurboTax, Credit Karma, QuickBooks, and Mailchimp, benefits from a strong 60% 'buy' rating from analysts and a projected 41% upside. Intuit delivered solid fiscal third-quarter results, with revenue rising 10% year-over-year to $8.6 billion, driven by its AI-powered expert platform. The company also raised its full-year revenue guidance after QuickBooks revenue saw a 22% increase. CEO Sasan Goodarzi emphasized the powerful synergy of Intuit's data, AI capabilities, and human expertise in setting standards for financial intelligence.
3. Broadcom (AVGO)
Despite a broader semiconductor sector sell-off, Broadcom posted a 2% gain in July. The chipmaker boasts the highest 'buy' rating proportion in the screen at over 76% and an average price target suggesting a 37% upside. Broadcom's AI business continues its rapid expansion, with second-quarter revenue soaring 48% to $22.2 billion. AI semiconductor revenue more than doubled, increasing by 143% to $10.8 billion, driven by demand for custom AI accelerators and networking products. CEO Hock Tan projected AI semiconductor revenue to exceed $16 billion in Q3, marking over 200% year-over-year growth. The company also expanded its multiyear partnership with Meta Platforms to develop next-generation AI accelerator chips.
While the Nasdaq-100 faced headwinds in July, these select companies highlight the potential for strong performance even in turbulent markets, driven by innovation, strategic acquisitions, and a focus on high-growth areas like artificial intelligence.
