Bullish market trends suggest the Nasdaq has additional upside over the coming year. These two stocks could help lead the rally higher.

The S&P 500 and the Nasdaq Composite rose on Monday to more than one-week highs, boosted by a rally in semiconductor stocks and a report that suggested the incoming Trump administration could adopt a less aggressive tariff stance than expected.

Yet history suggests the market likely has further to climb. Going back to 1972 — the first full year in which the Nasdaq traded — in each year following gains of 30% or more, the tech-centric index has climbed 19%,

In other words, history says the Nasdaq could advance 16% in 2025, but most Wall Street analysts see even more upside in Nvidia ( NVDA -3.00%) and Lam Research ( LRCX -3.10%), two companies that reset their soaring share prices by completing 10-for-1 stock splits in 2024.