After a blockbuster first half for U.S. equities, investors are entering the back half of the year with a more complicated backdrop. With the Nasdaq 100 trading near record highs thanks to the AI-fueled rally, investors are weighing whether earnings can continue to justify elevated valuations, how quickly the Federal Reserve may hike interest rates and whether geopolitical risks could spark renewed volatility. That backdrop makes valuation an increasingly important consideration. CNBC Pro screened the Nasdaq 100 for stocks that combine strong fundamentals with attractive prices and came up with the following names: Each of these stocks is a member of the Invesco QQQ Trust (QQQ) , has a buy rating or equivalent from least 55% of the analysts covering the stock, offers at least 35% upside to the average analyst price target, and trades at a forward price-to-earnings ratio below the Nasdaq 100’s forward multiple of roughly 27. Chip giant Nvidia is the biggest stock on the list and also the most widely endorsed by analysts, with 83.3% of those covering it rating it a buy. Bitcoin corporate buyer Strategy is the smallest company represented, with a market value of $35.3 billion. At its current price, it has about 200% upside potential based on the analysts’ average price target. It’s also priced at just 8.2 times projected earnings. Behind Strategy, fintech giant Intuit offers the second-highest implied upside, with analysts’ average price target pointing to gains of about 74%. About 70% of the analysts that cover it give it a buy rating.
