There’s no question that stocks in the Nasdaq composite index have seen massive gains over the last year and a half. Even after taking a back seat to cyclicals late last year, the index continues to hit new heights. That’s why investors should focus on Nasdaq stocks that offer the best long-term prospects. Qualcomm Inc . (NASDAQ:QCOM), Amgen Inc . (NASDAQ:AMGN), and Workday, Inc. (NASDAQ:WDAY) are three that are certainly worth a look.Since March 16th of last year, the Nasdaq composite has been on a roll, up almost 130%. Every time it seems like that run is over, the index keeps pushing through and continues to hit new record highs. Much of this growth started last year when pandemic-related restrictions led to work and learning from the home environment.
This fast-tracked the transition to the digital age and a lot of technology companies benefited. As I write this, the Nasdaq is only 180 or so points from 16,000. Even at the end of last year and into this year when cyclical stocks took leadership in the market, tech stocks have rallied back as corporate profit margins continue to show strong growth.
There's no turning back now as technology plays a role in almost every aspect of our life, and biotech holds the key to our future. The question is, which stocks should investors buy and hold for the long term. To answer that question, I turned to our proprietary POWR Ratings system for the answer. Qualcomm Inc. (QCOM), Amgen Inc. (AMGN), and Workday, Inc. (WDAY) are three companies that certainly fit the bill.