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Nasdaq 100 Monthly Returns: Top gainers of tech-heavy index in July 2022

Nasdaq 100 index posted the biggest monthly advance since November 2020.

Nasdaq 100 Monthly Returns: Top gainers of tech-heavy index in July 2022
Top gainers for July 2022 included stocks of Tesla, Amazon, Apple, Microsoft, PepsiCo, Alphabet among others.

Nasdaq 100 had one of the strongest performances in July 2022 with the index jumping by over 11 per cent by the month end. No wonder the Nasdaq 100 index posted the biggest monthly advance since November 2020. Nasdaq 100 closed the Friday session at 12,947.97, up by 1.81 per cent and registering a gain of 11.76 per cent over a 1-month period. The tech-heavy index is still lower by 20.66 per cent year-to-date.

Top gainers for July 2022 included stocks of Tesla, Amazon, Apple, ASML Holdings, NVIDIA, Costco Wholesale, Broadcom, Microsoft, PepsiCo, Alphabet among others.

The Nasdaq 100 index is a large-cap growth index and includes 100 of the top domestic and international non-financial companies based on market capitalization.

The reason for the Nasdaq 100 index to post impressive performance in July can be attributed to the earnings reports announced by some of the biggest technology companies. Amazon.com Inc., Alphabet Inc. and Microsoft Corp. Were the major contributors for the index to move up sharply in July.

Here are the top 10 stocks with a market capitalization above $200 billion that led the rally in the tech-heavy Nasdaq 100 in July 2022.

Top 10 Nasdaq 100 stocks – July 2022

The Nasdaq 100 index reflects companies across major industry groups, including computer hardware and software, telecommunications, retail trade, and biotechnology. However, it does not include banking stocks and shares of financial companies, including investment companies.

Instead of buying individual stocks, you may consider buying the ETF that tracks the Nasdaq 100 index. Invesco QQQ is an ETF that tracks the Nasdaq 100 index and by buying Invesco QQQ ETF, you end up taking exposure in the entire 100 stocks of the index. Facebook (FB), Amazon (AMZN), Apple (AAPL), Netflix (NFLX), and Google collectively known as FAANG stocks are a part of the Nasdaq 100 index.

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