Disclaimer: Please be advised that the information provided in this article is relevant as of the time of its composition. However, it is important to recognize that due to the periodic release of new financial reports on a quarterly basis, the status of the mentioned stocks may undergo changes. Therefore, readers are encouraged to exercise diligence and consult updated financial information before making any investment decisions.
Many Muslim investors do not know the Shariah-compliant status of the stocks listed on the Nasdaq 100. This article will reveal the Shariah-compliant status of stocks listed on the Nasdaq 100.
What is the Nasdaq 100 Index?
The Nasdaq 100 (NDX) is a stock market index comprising the 100 largest, non-financial, and most actively traded U.S companies listed on the Nasdaq stock exchange. This index includes companies from various sectors like technology, healthcare, retail, industrial, and others. However, it does not include any financial companies. Nasdaq 100 includes several companies incorporated outside the United States as well.
Nasdaq 100 has had solid returns for the past two decades, including various sectors and companies. The technology sector makes up the index’s most significant percentage, accounting for 56% of the index’s weight. The second largest sector is the consumer services sector, with companies like restaurant chains, retailers, and travel services.
Are Nasdaq 100 Stocks Halal?
Many Muslim investors are wondering whether the stocks listed on Nasdaq 100 are Halal or not. Yes, 50 of the listed companies in the Nasdaq 100 are doing HALAL business and have been categorized as Halal, according to Musaffa stock screener. You will be surprised to know that about 60% of total listed stocks in Nasdaq 100 comply with Shariah Principles, as you can see in the table below:
List of Nasdaq 100 companies and their compliance status
| Company Name | Ticker | Market Cap | Status | Rating |
| Apple Inc. | AAPL | 3.32T | Halal | 1 |
| Tesla, Inc. | TSLA | 585.07B | Halal | 4 |
| NVIDIA Corporation | NVDA | 3.18T | Halal | 3 |
| Broadcom Inc. | AVGO | 787.78B | Halal | 2 |
| AstraZeneca PLC | AZN | – | Halal | 1 |
| Cisco Systems, Inc. | CSCO | 182.81B | Halal | 2 |
| Walgreens Boots Alliance, Inc. | WBA | 13.25B | Halal | 1 |
| Splunk Inc. | SPLK | 26.44B | Halal | 2 |
| ASML Holding N.V. | ASML | 387.76B | Halal | 5 |
| Adobe Inc. | ADBE | 203.37B | Halal | 4 |
| Gilead Sciences, Inc. | GILD | 79.60B | Halal | 1 |
| Palo Alto Networks, Inc. | PANW | 103.42B | Halal | 1 |
| Texas Instruments Incorporated | TXN | 178.89B | Halal | 2 |
| QUALCOMM Incorporated | QCOM | 239.17B | Halal | 2 |
| Starbucks Corporation | SBUX | 90.81B | Halal | 2 |
| Regeneron Pharmaceuticals, Inc. | REGN | 113.43B | Halal | 1 |
| Intuitive Surgical, Inc. | ISRG | 150.77B | Halal | 1 |
| Analog Devices, Inc. | ADI | 116.65B | Halal | 4 |
| Applied Materials, Inc. | AMAT | 195.72B | Halal | 1 |
| Micron Technology, Inc. | MU | 159.50B | Halal | 2 |
| Atlassian Corporation | TEAM | – | Halal | 5 |
| O’Reilly Automotive, Inc. | ORLY | 58.84B | Halal | 5 |
| Lam Research Corporation | LRCX | 135.19B | Halal | 3 |
| Synopsys, Inc. | SNPS | 90.79B | Halal | 1 |
| Autodesk, Inc. | ADSK | 48.07B | Halal | 4 |
| Cintas Corporation | CTAS | 69.73B | Halal | 5 |
| Fortinet, Inc. | FTNT | 46.30B | Halal | 4 |
| CSX Corporation | CSX | 63.54B | Halal | 1 |
| Biogen Inc. | BIIB | 33.95B | Halal | 3 |
| DexCom, Inc. | DXCM | 45.51B | Halal | 2 |
| Microchip Technology Incorporated | MCHP | 49.94B | Halal | 4 |
| KLA Corporation | KLAC | 111.25B | Halal | 2 |
| Lululemon Athletica inc. | LULU | 39.82B | Halal | 4 |
| NXP Semiconductors N.V. | NXPI | 70.37B | Halal | 3 |
| CrowdStrike Holdings, Inc. | CRWD | 92.84B | Halal | 1 |
| Illumina, Inc. | ILMN | 17.37B | Halal | 3 |
| Marvell Technology, Inc. | MRVL | 63.99B | Halal | 5 |
| Old Dominion Freight Line, Inc. | ODFL | 37.33B | Halal | 5 |
| Ross Stores, Inc. | ROST | 48.76B | Halal | 3 |
| IDEXX Laboratories, Inc. | IDXX | 41.24B | Halal | 5 |
| Copart, Inc. | CPRT | 51.42B | Halal | 3 |
| Fastenal Company | FAST | 36.51B | Halal | 5 |
| Seagen Inc. | SGEN | 41.81B | Halal | 4 |
| VeriSign, Inc. | VRSN | 17.89B | Halal | 2 |
| ANSYS, Inc. | ANSS | 28.44B | Halal | 4 |
| Align Technology, Inc. | ALGN | 20.11B | Halal | 5 |
| Skyworks Solutions, Inc. | SWKS | 16.79B | Halal | 4 |
| DocuSign, Inc. | DOCU | 10.53B | Halal | 4 |
| Okta, Inc. | OKTA | 14.79B | Halal | 1 |
| Alphabet Inc. | GOOGL | 2.18T | Doubtful | |
| Amazon.com, Inc. | AMZN | 1.92T | Doubtful | |
| Meta Platforms, Inc. | META | 1.28T | Doubtful | |
| Pepsico, Inc. | PEP | 223.10B | Doubtful | |
| Advanced Micro Devices, Inc. | AMD | 258.08B | Doubtful | |
| Dollar Tree, Inc. | DLTR | 23.05B | Doubtful | |
| JD.com, Inc. | JD | – | Doubtful | |
| Mondelez International, Inc. | MDLZ | 88.64B | Doubtful | |
| Marriott International | MAR | 67.53B | Doubtful | |
| Cadence Design Systems, Inc. | CDNS | 83.98B | Doubtful | |
| Costco Wholesale Corporation | COST | 374.50B | Not Halal | |
| Netflix, Inc. | NFLX | 281.74B | Not Halal | |
| Intuit Inc. | INTU | 166.16B | Not Halal | |
| Booking Holdings Inc. | BKNG | 130.25B | Not Halal | |
| Activision Blizzard, Inc | ATVI | 72.44B | Not Halal | |
| NetEase, Inc. | NTES | 58.42B | Not Halal | |
| Paychex, Inc. | PAYX | 43.88B | Not Halal | |
| Electronic Arts Inc. | EA | 36.26B | Not Halal | |
| eBay Inc. | EBAY | 26.86B | Not Halal | |
| Match Group, Inc. | MTCH | 8.40B | Not Halal | |
| T-Mobile US, Inc. | TMUS | 204.58B | Not Halal | |
| Comcast Corporation | CMCSA | 148.35B | Not Halal | |
| Honeywell International Inc. | HON | 135.11B | Not Halal | |
| PayPal Holdings, Inc. | PYPL | 64.88B | Not Halal | |
| Automatic Data Processing, Inc. | ADP | 99.60B | Not Halal | |
| Fiserv, Inc. | FISV | 86.06B | Not Halal | |
| Moderna, Inc. | MRNA | 56.08B | Not Halal | |
| American Electric Power Company, Inc. | AEP | 46.16B | Not Halal | |
| The Kraft Heinz Company | KHC | 39.51B | Not Halal | |
| MercadoLibre, Inc. | MELI | 80.62B | Not Halal | |
| Exelon Corporation | EXC | 34.84B | Not Halal | |
| Xcel Energy Inc. | XEL | 30.13B | Not Halal | |
| PACCAR Inc. | PCAR | 55.67B | Not Halal | |
| Constellation Energy Corporation | CEG | 67.84B | Not Halal | |
| Verisk Analytics, Inc. | VRSK | 37.52B | Not Halal | |
| Sirius XM Holdings Inc. | SIRI | 9.60B | Not Halal | |
| Lucid Group, Inc. | LCID | 6.14B | Not Halal | |
| Amgen Inc. | AMGN | 159.43B | Not Halal | |
| Intel Corporation | INTC | 129.80B | Not Halal | |
| Charter Communications, Inc. | CHTR | 44.03B | Not Halal | |
| Vertex Pharmaceuticals Incorporated | VRTX | 124.18B | Not Halal | |
| Airbnb, Inc. | ABNB | 93.00B | Not Halal | |
| Keurig Dr Pepper Inc. | KDP | 45.74B | Not Halal | |
| Monster Beverage Corporation | MNST | 50.88B | Not Halal | |
| Workday, Inc. | WDAY | 55.29B | Not Halal | |
| Baidu, Inc. | BIDU | 33.94B | Not Halal | |
| Cognizant Technology Solutions Corporation | CTSH | 32.40B | Not Halal | |
| Datadog, Inc. | DDOG | 40.17B | Not Halal | |
| Zscaler, Inc. | ZS | 27.57B | Not Halal | |
| Zoom Video Communications, Inc. | ZM | 18.21B | Not Halal | |
| Microsoft Corporation | MSFT | 3.29T | Not Halal | |
| Pinduoduo Inc. | PDD |
You can check the latest updates of stock statuses using the Musaffa stock screener.
To read more about Halal stocks or Islamic finance-related topics, please click here and visit our academy.
Feel free to sign up for our stock screening services at Musaffa.com