The positive future of the United States economy is evident in its recent strong growth, with a 2.5% expansion in 2023. Consumer spending, a major driving force, grew at a healthy 3% annual pace in the last quarter. Despite initial concerns about high-interest rates, the economy has exceeded a 2% growth rate for six consecutive quarters, and the International Monetary Fund predicts a further expansion of 2.1% in 2024, outperforming major advanced economies like Japan, Germany, the United Kingdom, France, and Italy. All of this points to now being a great time to grab these Nasdaq stocks to buy.

The Federal Reserve’s successful efforts to curb inflation, coupled with low unemployment and robust job creation, have instilled confidence in a positive trajectory, raising hopes for a rare “soft landing” without causing a recession, meaning that investing, is a smart decision–you can only profit!

Advanced Micro Devices, Inc (AMD)

Advanced Micro Devices, Inc. (NASDAQ:AMD) is a semiconductor and multinational corporation specializing in computer processors. It has amassed a valuation of $200.22, up 154.80% YoY.

AMD’s market cap has soared from 2023-2024, increasing from $238.14 billion to $323.23 billion, representing a change of 35.73%. Revenue growth reached 11.25%, 70.13% more than the sector median of 6.61%. The gross profit margin was up to 50.27%, which, compared to the sector median of 48.88%, is 2.85% more. P/E Non-GAAP was impressive, at 72.65 or 219.42% more than the sector median of 22.75. Overall, AMD’s financial metrics signal that it is sustainably growing while maintaining a profit. 

The global semiconductor market was valued at $591.8 billion in 2022, and is projected to reach $1,883.7 billion in 2032, representing a growth rate of 12.28%. Key factors in this immense growth include digitization, technological advances, and the new prospect of AI.

AMD recently announced the Ryzen 8040 chip coming shortly after the MI300X accelerator. Both of these chips are AI-focused, pitting it against Nvidia. Meta Platforms and Microsoft have already placed orders for AMD’s chips, signaling positive attitudes about the product. More orders are expected over time and if AMD executes, its profits could soar far beyond expectations. 

Overall, AMD’s new microchips mean greener pastures in the future, giving this entry on our list of Nasdaq stocks to buy a highly positive outlook. 

Sterling Infrastructure (STRL)

Sterling Infrastructure (NASDAQ:STRL) is a construction company that provides e-infrastructure, building, and transportation solutions in the United States. STRL is currently trading at $110.98, up an astonishing 178.15% YoY. 

Valued at 233.71 billion in 2023, the global digital infrastructure market is expected to reach $1 trillion by 2032, exhibiting a CAGR of 23.60%. In Q4 2023, Sterling reported record results, including revenues of $486.0 million and net income of $40.2 million, an increase of 8% and 99% YoY respectively. The company also boasts a levered FCF margin of 20.14%, an indicator of strong profitability. Management expects continued growth in 2024, forecasting a net income of $160 million. The company also ended 2023 with a combined backlog of $2.37 billion, which will provide momentum in 2024 and place Sterling in an excellent position to grow the business.

Furthermore, the company recently won major contracts for a $78 million dollar Nevada highway project and a $155 million aviation project at the Lihue Airport located in Kauai, Hawaii. These awards underscore Sterling Infrastructure’s ongoing involvement and expansion in infrastructure development. They highlight increasing demand for the company’s services and its investment in operations outside of its primary e-infrastructure category. This is easily one of the top Nasdaq stocks to buy

Global Foundries Inc (GFS)

Globalfoundries Inc (NASDAQ:GFS) manufactures semiconductors and operates foundries located throughout the world. Currently, Globalfoundries holds a 6% market share in the global semiconductor foundry market, and, by revenue, it is the world’s third-largest contract chipmaker. 

While Globalfoundries’ revenue, net income, and other financial metrics pulled back from their record highs set last year, certain business segments are still delivering extraordinary growth. In FY2023, the company’s automotive end-market revenue grew an impressive 180% compared to FY2022, showcasing Globalfoundries’ successful expansion into essential end-markets. 

This month, the U.S. government awarded a $1.5 billion grant to Globalfoundries, expected to triple the company’s production capacity in New York over the next 10 years. Globalfoundries plans to invest the money into its existing fab in New York by adding technologies that will aid in the manufacturing of automotive semiconductor chips. Investing in this fab will help the company meet growing demand and deliver semiconductors to automotive customers such as General Motors. 

To summarize, Global Foundries is a leader in semiconductor foundries. Its investments into new technology for its fab in New York and its expansion into the Automotive end market position the company to succeed. If you are looking for great Nasdaq stocks to buy, start here.

On the date of publication, Michael Que did not have (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.

The researchers contributing to this article did not hold (either directly or indirectly) any positions in the securities mentioned in this article