
The Nasdaq-100 Index ($IUXX) set new record highs as recently as June 14, peaking at 19,664 last Friday amid ongoing investor enthusiasm regarding artificial intelligence (AI) stocks. While Nvidia (NVDA) has become a standout growth story, and leads the index with a gain of 166.3% on a YTD basis, Big Tech names like Apple (AAPL) and Broadcom (AVGO) helped spark the latest leg higher in the Nasdaq-100's record-setting uptrend.
But while the index might be best known for its tech-heavy slant, there's much more to the Nasdaq-100 than just AI stocks. Technically, it's a collection of the 100 largest non-financial names on the Nasdaq. And when it comes to the two Nasdaq-100 stocks that analysts overwhelmingly agree on, AI doesn't really enter the picture.