The stock market has started 2024 on a high note. With inflation cooling, the economy improving and companies ready to report their quarterly results, there is a lot to look forward to.

While some companies are recovering from the bloodbath of 2023 caused due to high inflation and low consumer spending, several stalwarts have been able to stand strong despite the storm. Investing in such companies can ensure steady growth over the years. No matter the market situation, these NASDAQ stocks will continue to thrive.

With that in mind, let’s take a look at the best Nasdaq stocks to buy this month. 

Netflix (NFLX)

The one thing I cannot live without is Netflix (NASDAQ:NFLX), and if you want to make the most of the streaming company’s growth story, now is the time to buy NFLX stock. The company is on its way to reporting a record profit margin and cash flow.

Having left the lows of $180 in May 2022, the stock is heading closer to $500 now. And the subscriber growth is a key factor that will take the stock higher. Netflix had an impressive third quarter and is strengthening finances while maintaining a positive momentum.

Having beat expectations in the third quarter, the management raised the earnings, profit, and cash flow guidance. I believe the fourth quarter results, which the company will announce on Jan 23 will be stellar. Despite high competition, Netflix is here, and it is thriving. Buy the stock before it reports results. 

Alphabet (GOOG / GOOGL)

It is hard to deny the role that Alphabet (NASDAQ:GOOG, NASDAQ:GOOGL) plays in our lives. The tech giant is growing powerful with each year and it has a massive market share with brands like Google Search and YouTube. These two platforms offer massive advertising opportunities to the company and this has led the earnings to grow in the past few years.

GOOG stock has soared over 150% in the past five years and is trading at $143 today. It has an impressive cash flow which allows the company to invest in research and development. The adoption of Artificial Intelligence will also work as a catalyst for the company.

It has launched an advanced AI model, Gemini to help create a unique search experience and offer efficient advertising. The company has the liquidity to keep investing in innovation which will help drive growth. You will never regret buying Alphabet stock and it could be an ideal addition to your portfolio. 

Meta Platforms (META)

Meta Platforms’ (NASDAQ:META) stock recently hit a 52-week high and it remains one of the best Nasdaq stocks to buy this month. The stock soared 170% in 2023 and there is no stopping its momentum this year. Meta is a clear winner when it comes to the umbrella of social media apps it owns including Facebook, WhatsApp, Instagram, Threads and Messenger.

The company reported a revenue of $34.15 billion in the third quarter with an operating margin as high as 40%. Its social media apps keep the revenue coming for the company, and I do not think there will be any slowdown here. With advertising returning to the platform, its ad revenue is also growing.

On the other hand, it has the Reality Labs which develops the Metaverse and this is where a lot of money has been going. Whether it becomes a success or not, only time can tell, but for now, Meta is in a very strong position. 

Advanced Micro Devices (AMD)

Nvidia‘s (NASDAQ:NVDA) biggest competitor, Advanced Micro Devices (NASDAQ:AMD) is set to rebound and could have an excellent year after the launch of its new graphics card. AMD is offering an ideal alternative to Nvidia’s chips and if consumers do not want to wait for weeks, this is their best option.

The company has seen massive success in the past, and I believe it still has a long way to go. As compared to Nvidia, AMD stock looks cheap at $148. It released the MI300X GPU and Instinct MI300A chip which is a faster chip than Nvidia’s H100. Tech giants including Microsoft and Meta have opted to use these chips and this has boosted investor sentiment.

It has also revealed a new graphics card recently which has a slightly higher price tag but has the same features as Nvidia’s graphic cards. AMD stock doubled in 2023, and this upward momentum is set to continue. 

Walt Disney (DIS)

Walt Disney (NYSE:DIS) suffered during the pandemic but it is doing much better now. I am impressed by the resilience that the business has shown over the last two years, which has paved the way for a rebound in the stock. The company has seen the theme park sales get back to normal, and with the holiday season, it could report a strong growth in the quarter.

Disney enjoys high loyalty and exceptional pricing power. Even if it raises ticket prices, people are going to flood into the theme parks. It also has new attractions opening this year. While its streaming segment isn’t generating profit yet, there is a high scope for improvement here. We have seen subscriber growth, and Disney could have a better 2024.

At the current value of $85, the stock looks highly undervalued to me and is worth scooping up. You will never regret owning DIS stock in the long term. 

Amazon (AMZN)

The global e-commerce giant, Amazon (NASDAQ:AMZN) has had an exceptional 2023 and this momentum is set to continue this year. I am eagerly awaiting the fourth quarter results from this company. I believe it will be driven by Black Friday sales and the holiday season. 

Amazon has everything working in its favor, the Amazon Web Services segment is growing, and its ad revenue is thriving. The company’s streaming services also rake in a significant part of the revenue. Amazon has cracked the code to e-commerce success. 

While the stock is trading very close to the 52-week high at $155, it has the potential to soar higher. It has expanded its offering and will also be selling vehicles from this year. Amazon has invested in artificial intelligence and is one of the top stocks to own today. Waiting for the stock to drop could be a mistake. AMZN is a millionaire stock you should not ignore. 

Microsoft (MSFT)

The tech dinosaur Microsoft (NASDAQ:MSFT) is set to make the most of the artificial intelligence. While the company has also invested in OpenAI, it has also integrated AI into its products and it expects to start making money from the same this year. Microsoft reported a revenue of $56.5 billion in the recent quarter and over 50% of it came from the cloud business.

It is steadily growing its market share and has an extensive lineup of products and services that are indispensable today. It recently surpassed Apple as the most valuable company in the world. The company also pays a quarterly dividend and has a yield of 0.78% making it an ideal addition to your retirement portfolio.

Microsoft is one company that will continue to thrive, no matter how the market moves from here. The stock is up 61% in the year and trading at $384, ready to skyrocket in 2024. 

On the date of publication, Vandita Jadeja did not hold (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.