These Are the 3 Worst-Performing Stocks on the Nasdaq-100 in 2026. Could They Be Underrated Buys Right Now?

If you're looking for top growth stocks to buy, the Nasdaq is home to plenty of them. And within the Nasdaq-100 index, you'll find a list of the 100 most valuable, non-financial stocks on the exchange. When stocks on that list go on sale, it can create some attractive buying opportunities in the process.

The three worst-performing stocks on the index as of Monday's close were Intuit (NASDAQ: INTU), AppLovin (NASDAQ: APP), and Strategy (NASDAQ: MSTR). Here's a look at whether these stocks are good buys right now, or if they could be heading even lower.

Image source: Getty Images.

Intuit

Down around 53% this year, software company Intuit has been the worst buy on the Nasdaq-100 thus far in 2026. And its decline has been going on even longer than that, with its losses over the past 12 months totaling 61%. The market has been bearish on software stocks in general, due to the risk artificial intelligence (AI) poses for many of them. Intuit is known for its financial software, including QuickBooks, Credit Karma, and TurboTax.

As someone who has done accounting work for more than a decade, I firmly believe the market is making a huge mistake with Intuit. QuickBooks was one of the first software titles I used as an accountant, and that's not something AI is going to easily replace. The one thing companies need in accounting and finance is trust. Trust in the numbers and the financial statements. Think of how disastrous it can be for a company to announce that it has to restate financials because it made a mistake. AI replacing financial software may sound good in theory, but in practice, it'll likely be a much different story.

Intuit's customers don't appear to be willing to take a chance with AI, as the company's sales rose by a solid 10% last quarter (which ended on April 30) and it even announced it would be raising its full-year guidance for the current fiscal year. At a forward price-to-earnings (P/E) multiple of just 11 times (based on analyst projections), the stock is a steal of a deal.

AppLovin

AppLovin's stock is down big, but not as massively as Intuit's. Its shares are down 38% this year. A big part of the reason it's not doing as badly is that its growth rate has remained impressive; AppLovin reported 59% revenue growth during the first three months of the year, with sales rising to $1.8 billion. Net income of $1.2 billion also doubled.

The company's business helps brands and businesses monetize their apps. While it's been doing exceptionally well of late, it's still not all that big, and the challenge may be in continuing to grow at a fast rate; many AI-powered tools could make it easier for other tech companies to compete in the space.

Currently, AppLovin's stock trades at a forward P/E of 26, which isn't all that cheap for a company that may be facing some headwinds in the future. However, this was a much more egregiously valued stock in the past. While AppLovin isn't doing poorly, I'd still hold off on buying the stock as its valuation doesn't offer much margin of safety.

Strategy

Doing only slightly better than AppLovin this year is Strategy, whose stock has declined by 36%. Its decline would likely have been even more significant if not for its crash last year, as shares of Strategy are down a whopping 76% in 12 months.

The company, whose business centers on buying Bitcoin, hasn't been nearly as popular with retail investors as it was in the past. Not only has the leading cryptocurrency been declining, but Strategy has also abandoned its stance of never selling Bitcoin, doing so multiple times in the past month.

Strategy is a stock that can easily fall for lower in value, given that this a company that doesn't offer much outside of a way to bet on Bitcoin. Its earnings are volatile and hinge largely on how the cryptocurrency does, thus, even if its valuation looks cheap, that can change quickly. This stock just isn't worth the risk.

David Jagielski, CPA has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Bitcoin and Intuit. The Motley Fool recommends Nasdaq. The Motley Fool has a disclosure policy.