The Nasdaq 100 (^NDX) is known for housing some of the most innovative and fastest-growing companies in the market. But not every stock in the index is a winner - some are struggling with slowing growth, increasing competition, or unsustainable valuations.
Even among high-growth companies, some are struggling, which is why we built StockStory - to help you separate winners from losers. That said, here are two Nasdaq 100 stocks that could lead the market and one that may face some trouble.
One Stock to Sell:
Workday (WDAY)
Market Cap: $32.63 billion
Born from the vision of PeopleSoft founders after Oracle's hostile takeover of their previous company, Workday (NASDAQ:WDAY) provides cloud-based software for financial management, human resources, planning, and analytics to help organizations manage their business operations.
Why Are We Wary of WDAY?
- Underwhelming ARR growth of 12.5% over the last year suggests the company faced challenges in acquiring and retaining long-term customers
- Estimated sales growth of 11.5% for the next 12 months implies demand will slow from its two-year trend
- Operating margin improvement of 2.6 percentage points over the last year demonstrates its ability to scale efficiently
Workday’s stock price of $126.31 implies a valuation ratio of 3x forward price-to-sales. Check out our free in-depth research report to learn more about why WDAY doesn’t pass our bar.
Two Stocks to Watch:
Marvell Technology (MRVL)
Market Cap: $144.2 billion
Moving away from a low margin storage device management chips in one of the biggest semiconductor business model pivots of the past decade, Marvell Technology (NASDAQ: MRVL) is a fabless designer of special purpose data processing and networking chips used by data centers, communications carriers, enterprises, and autos.
Why Are We Positive On MRVL?
- Market share has increased this cycle as its 22.5% annual revenue growth over the last five years was exceptional
- Operating margin expanded by 23.9 percentage points over the last five years as it scaled and became more efficient
- Incremental sales over the last five years have been more profitable as its earnings per share increased by 25.1% annually, topping its revenue gains
At $164.65 per share, Marvell Technology trades at 43.2x forward P/E. Is now a good time to buy? Find out in our full research report, it’s free.
Amgen (AMGN)
Market Cap: $178 billion
Founded in 1980 during the early days of the biotechnology revolution, Amgen (NASDAQ:AMGN) is a biotechnology company that discovers, develops, and manufactures innovative medicines to treat serious illnesses like cancer, osteoporosis, and autoimmune diseases.
Why Are We Fans of AMGN?
- Solid 12.3% annual revenue growth over the last two years indicates its offering’s solve complex business issues
- Economies of scale give it more fixed cost leverage than its smaller competitors
- AMGN is a free cash flow machine with the flexibility to invest in growth initiatives or return capital to shareholders
Amgen is trading at $329.39 per share, or 5x forward price-to-sales. Is now the time to initiate a position? See for yourself in our full research report, it’s free.
Stocks We Like Even More
WHILE YOU’RE HERE: Top 9 Market-Beating Stocks. The best stocks don't just beat the market once. They do it again. And again. Robust revenue growth, rising free cash flow, returns on capital that leave their competition in the dust. The market has already rewarded these businesses.
But our AI platform says the party isn't over. Find out which 9 stocks made the cut this week - FREE. Get Our Top 9 Market-Beating Stocks for Free HERE.
Stocks that made our list in 2020 include now familiar names such as Nvidia (+1,326% between June 2020 and June 2025) as well as under-the-radar businesses like the once-small-cap company Exlservice (+354% five-year return). Find your next big winner with StockStory today.