From Nasdaq: 2024-05-19 12:00:00

Over the past year, tech stocks rallied on the prospects of interest rate cuts. Nasdaq is near all-time highs, suggesting it might be time to take profits in some stocks. However, three blue-chip tech stocks, Nvidia (NASDAQ: NVDA), Meta Platforms (NASDAQ: META), and CrowdStrike (NASDAQ: CRWD), remain strong buys in May.

Nvidia’s revenue and adjusted EPS surged in fiscal 2024 as demand for AI chips grew. Analysts expect another 84% revenue and 93% EPS growth for fiscal 2025. Although competition looms, Nvidia remains a top player in the AI market.

Meta Platforms rebounded in 2023 with revenue and EPS growth. For 2024, analysts predict 18% revenue and 36% EPS growth. With a forward P/E of 24, Meta Platforms offers solid growth potential for investors.

CrowdStrike, a cloud-native cybersecurity company, saw revenue grow in fiscal 2023 but decelerate due to market headwinds. Accelerated growth in fiscal 2024, driven by new contracts and market share gains, sets up further growth in fiscal 2025. Though pricey, its unique services make it worth the investment.



Read more at Nasdaq: 3 Top Tech Stocks to Buy in May