Should you be watching these Nasdaq 100 stocks?

Highlights

• Daily active users for Facebook reached 2 billion in the fourth quarter of 2022, up 4 per cent YoY.
• Align Technology grew its revenue by 1.3 per cent sequentially in the fourth quarter of 2022.
• Data center revenues for NVIDIA increased by 31 per cent in Q3’23 compared to Q3’22.

The 100 largest and most actively traded US companies listed on the Nasdaq stock exchange make up the Nasdaq 100 index. The Nasdaq 100 index includes companies from various industries, except for the financial sector.

Retail, biotechnology, industrial, technology, health care, etc., are a few sectors included in the Nasdaq 100 index.

The technology sector accounts for more than half of the index's weight. The second-largest industry is consumer services, which comprises companies like retail chains, restaurants, and travel agencies.

In light of this, let’s flick through the recent performances of these three Nasdaq 100 companies:

Meta Platforms Inc. (NASDAQ: META)

Meta Platforms Inc. poses itself as the world's largest online social network with platforms like Facebook, Instagram, Messenger, and WhatsApp under its hood. Meta has a wide network of customers worldwide, with over 90 per cent of revenue generated from its advertising activities.

The company has a total market capitalization of more than US$ 496.8 billion, with earnings per share (EPS) of US$ 8.59.

During the fourth quarter of 2022, the number of daily active people (DAP) for the entire Meta group was 2.96 billion on average, representing a five per cent increase year-over-year (YoY). The number of monthly active people (MAP) as of December 31, 2022, was 3.74 billion, a four per cent increase YoY.

On the other hand, Facebook's daily active users (DAUs) for Q4’22 was 2 billion, upfour per cent YoY. And the number of monthly active users (MAUs) as of December 31, 2022, grew by 2 per cent to 2.96 billion.

Meta’s fourth quarter 2022 financials are showcased in the chart below:

Image Source: © 2023 Krish Capital Pty. Ltd.

Align Technology Inc. (NASDAQ: ALGN)

Standing as a dominator in the clear aligner industry since 1998, Align Technology functions as a manufacturer and provider of clear aligners. The company has helped more than 14 million dental patients since its foundation.

Align Technology has generated earnings per share (EPS) of US$ 4.61 for its shareholders while holding a total market share of approximately US$ 27 billion.

According to Align Technology’s fourth quarter 2022 results, the company’s total revenues grew by 1.3 per cent sequentially, up from US$ 890.3 million in Q4’21 to US$ 901.5 million, but decreased 12.6 per cent YoY.

Net income (non-GAAP) for the fourth quarter of 2022 also increased from US$ 127.2 million in Q3’22 to US$ 134.2 million.

NVIDIA Corporation (NASDAQ: NVDA)

Known for its cutting-edge graphics processing units, NVIDIA Corporation is a technology company listed on the Nasdaq. The company’s technologically-advanced chips are being used in data centers, automotive infotainment systems, and high-end gaming PCs.

With a market capitalization of more than US$ 545.4 billion, NVIDIA has paid its stockholders a cash dividend of US$ 0.04 per share on a quarterly term alongside an annualized dividend yield of 0.072 per cent.

In the third quarter of 2023, NVIDIA’s data center segment generated 31 per cent higher revenue of US$ 3.83 billion from the same period last year. The automotive and embedded segment grew its revenue by 86 per cent to US$ 251 million from Q3’21.

However, the company’s total revenue decreased to US$ 5.93 billion, down 12 per cent from the prior quarter.

Bottom Line

In a volatile stock market, investors are advised to conduct extensive market research before investing to preserve their portfolios.