SpaceX Has Officially Joined the Nasdaq-100. Here Are 3 Better Nasdaq-100 Stocks to Buy in July.

On July 7, Space Exploration Technologies (NASDAQ: SPCX) became one of the newest members of the Nasdaq-100, added just 15 trading days after its record-setting public debut under a new fast-entry rule. Roughly $800 billion sits in funds that track that index, so every one of them had to buy the stock, and that mechanical demand has grabbed a lot of headlines.

Here's the thing worth remembering: A stock may meet the criteria to be added to a prominent index, but that doesn't necessarily make it a good buy. Forced buying by passively managed funds can inflate the price of a freshly public, richly valued stock in the short term, but history is full of hyped-up index additions that later proved to be disappointing investments. Rather than chase the rocket, I'd point patient investors toward three quieter Nasdaq-100 members in the consumer world that are doing genuinely interesting things right now.

1. Keurig Dr Pepper: A beverage giant reinventing itself

Keurig Dr Pepper (NASDAQ: KDP) is in the middle of the boldest reinvention of its short life. It closed its roughly $18 billion acquisition of Dutch coffee company JDE Peet's this spring, and it plans to split itself into two focused, separately traded businesses by the end of 2026: a global coffee company and a North American refreshment-beverage company. The logic is that investors often value a focused business more highly than a sprawling one, so separating the two somewhat disparate units could bring value to the surface that's currently buried.

I'd weigh that against the debt the company took on to buy JDE Peet's, which meaningfully increased the combined company's leverage. That's the trade-off here: real transformation potential paired with a balance sheet that now has less room for error.

2. O'Reilly Automotive: The compounder hiding in plain sight

O'Reilly Automotive (NASDAQ: ORLY) sells auto parts, which sounds about as exciting as a Tuesday. But the company is the kind of steady grower that quietly builds wealth. When people keep older cars on the road longer, they need to buy more parts to fix them, which makes O'Reilly's business relatively resilient when household budgets tighten.

Image source: Getty Images.

The company performed a 15-for-1 stock split in 2025, lowering its per-share price so smaller investors can more easily buy whole shares or trade its options, and it keeps expanding, including a growing footprint in Mexico that now tops 120 stores.

3. DoorDash: No longer just about dinner

Most people still think of DoorDash (NASDAQ: DASH) as the app that brings burritos or burgers to their door. What I find more compelling is how far beyond restaurants it has pushed its operation. Its late-2025 acquisition of Deliveroo extended its reach across Europe, and it now claims some of the fastest growth among third-party players in U.S. grocery and retail. It's also building a genuine advertising business and testing autonomous delivery to lower costs over time.

The honest counterweight: DoorDash is spending heavily in 2026 to consolidate its technology and fund these bets, which will likely put more pressure on its near-term profits even after a record 2025. The stock isn't cheap relative to today's earnings, but those who pick it up now are buying for the long game.

The takeaway for investors

SpaceX's arrival in the Nasdaq-100 may be a milestone, but membership in the index only tells you a company is big, not that its stock is attractively priced. Keurig Dr Pepper, O'Reilly Automotive, and DoorDash each offer a few things that SpaceX doesn't right now: established businesses, track records you can actually examine, and clearer lines of sight on how they make money. None is a risk-free investment -- one carries debt, one carries a premium price, and one carries heavy spending -- but for July, I think these three warrant a closer look far more than the stock that everyone is talking about.

As for SpaceX itself, I'd wait. Let the initial hype fade and give the company a few quarters as a public business to prove out its numbers first.

Micah Zimmerman has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends DoorDash. The Motley Fool has a disclosure policy.