These 3 Stocks Have Been the Nasdaq-100's Top Performers of 2025. Are They Still Good Buys for 2026?

By David Jagielski, CPA – Dec 18, 2025 at 10:40AM ESTKey PointsMicron Technology, Palantir Technologies, and Warner Bros. Discovery have been top performers on the Nasdaq-100.Palantir stock has been on a tear for several years due to its strong growth.Micron and Warner Bros. Discovery, however, seemingly came out of nowhere in 2025, as they didn't even generate positive returns in 2024.These 10 Stocks Could Mint the Next Wave of Millionaires ›NASDAQ: PLTRPalantir TechnologiesMarket Cap$423BToday's Changeangle-down(5.53%) $9.81Current Price$187.10Price as of December 18, 2025 at 11:47 AM ETMicron, Palantir, and Warner Bros. Discovery are all up more than 140% this year.This has been a good year for many Nasdaq-100 stocks. Investors remain bullish about growth stocks, even though there were some worries that the U.S. economy is slowing down, with layoffs on the rise. Stocks involved in tech have particularly done well due to the ongoing optimism about opportunities related to artificial intelligence (AI). As of Dec. 15, the top-performing stocks on the Nasdaq-100 index for the year were Micron Technology (MU +11.98%), Warner Bros. Discovery (WBD 0.92%), and Palantir Technologies (PLTR +5.53%). Let's consider what has been behind their impressive performances and see whether they may be poised for even greater gains in 2026. Image source: Getty Images. 1.

Micron Technology Micron Technology stock has returned a total of 177% thus far in 2025 (including its dividend). It's in the business of selling memory and storage solutions, and demand for those is soaring as tech companies continue to invest in the infrastructure to expand their AI capabilities. Demand has been so robust for Micron's data center products this year that the company says it is exiting its consumer-focused Crucial brand so that it can focus on larger and more strategic customers. It's a great problem to have, to be able to focus on faster-growing segments where margins and growth opportunities can be far more lucrative. ExpandNASDAQ: MUMicron TechnologyToday's Change(11.98%) $27.01Current Price$252.53Key Data PointsMarket Cap$254BDay's Range$246.21 - $263.6352wk Range$61.54 - $264.75Volume1.5MAvg Vol26MGross Margin40.17%Dividend Yield0.20% In its fiscal 2025, which ended on Aug. 28, the company's sales rose by 49% to $37.4 billion, with net income skyrocketing from less than $800 million to $8.5 billion. Micron's growth has been incredible, and with the stock trading at an estimated 14 times its future earnings (based on analysts' expectations), it can still be a great buy heading into next year. Advertisement 2. Warner Bros. Discovery The second-best Nasdaq-100 performer so far this year is Warner Bros. Discovery: Its total return is up 173% right now. The stock has been surging, not because of strong growth or improved profitability, but because there is a bidding war for the company going on involving Netflix and Paramount Skydance. Warner Bros. Discovery was planning to split up, but now Netflix is trying to buy the larger Warner Bros. segment (which will include its streaming operation, its catalog, and its studios), while Paramount is bidding for the whole company. The competing offers have lifted the shares, but the entertainment company itself hasn't been doing that well. It has incurred net losses in three of the past four quarters. It has also found it challenging to grow revenues. ExpandNASDAQ: WBDWarner Bros. DiscoveryToday's Change(-0.92%) $-0.26Current Price$27.95Key Data PointsMarket Cap$70BDay's Range$27.90 - $28.3952wk Range$7.52 - $30.00Volume609KAvg Vol47MGross Margin28.15% This also means that there's plenty of risk with holding on to the stock heading into 2026. If the bidding war intensifies, shares of Warner Bros. Discovery could go higher. If, however, antitrust regulators get in the way of a deal and neither one goes through, the stock could quickly fall in value. Investing in a stock based on the hopes that a bidder will offer a higher acquisition price is a risky tactic, which is why I wouldn't buy Warner Bros. Discovery stock now. 3.

Palantir Technologies The third-hottest Nasdaq-100 stock is Palantir Technologies. Its total return is 148% this year, and what's impressive is that it's building off an incredibly strong performance in 2024 when it soared by 341%. Both Micron and Warner Bros. Discovery lost value last year. Palantir has been a big name in AI, as its data analytics platform has been winning over both government and commercial customers. In the third quarter, its revenue grew 63% to just under $1.2 billion. CEO Alex Karp has been excited about the company's performance, citing its impressive Rule of 40 score of 114% as an illustration of its incredible success, and why it's a great business to invest in. ExpandNASDAQ: PLTRPalantir TechnologiesToday's Change(5.53%) $9.81Current Price$187.10Key Data PointsMarket Cap$423BDay's Range$181.52 - $187.2452wk Range$63.40 - $207.52Volume1MAvg Vol51MGross Margin80.81% While Palantir has performed exceptionally well, I don't think it's prudent for investors to ignore valuations. Sooner or later, a market correction may be inevitable, given how hot tech stocks have been over the past few years. And Palantir, trading now at a price-to-earnings multiple of more than 420, may be among the stocks most vulnerable to a slide in a wider downturn. Palantir stock has come down by about 14% from its peak of over $207, as investors may finally be losing their willingness to overlook its lofty valuation, and that's why I wouldn't buy it either. It's priced for perfection, and that leaves investors exposed to a lot of downside risk.About the AuthorDavid Jagielski, CPA, has been a contributing Motley Fool stock market analyst covering healthcare, consumer staples, consumer discretionary, and technology stocks since 2017. David has more than 10 years of experience in finance roles across businesses of different sizes and sectors. He holds a Certified Public Accountant designation in Canada.TMFdjagielskiRead NextDec 18, 2025 •By Rick OrfordIs It Too Late to Buy Palantir After Its 2025 Run?Dec 18, 2025 •By Keithen DruryIs Palantir the Next Tesla?Dec 17, 2025 •By Keith NoonanShould You Buy Palantir Before a Potential Stock Split?Dec 17, 2025 •By Lawrence Nga2025 Was a Defining Year for Palantir. Here Are 3 Takeaways Investors Must Know Before Entering 2026.Dec 17, 2025 •By John Ballard1 Reason I'm Never Selling Palantir StockDec 17, 2025 •By Keithen Drury2 High-Flying AI Stocks I'd Sell Before 2026 Arrives