The Nasdaq jumped 1.8% Thursday as bulls pushed it right to its 50-day moving average following and up and down mid-week session. The Dow and the S&P 500 also jumped 0.51% and 1%, respectively after positive jobs data, following their second consecutive three-day downturn to start a week.

Data Thursday showed that 444,000 Americans applied for unemployment, marking the lowest level since the initial coronavirus lockdowns. Meanwhile, Fed minutes released Wednesday highlighted the central bank’s willingness to start thinking about slowly pulling back on its easy money policies as the U.S. economy roars back.  

April’s 4.2% CPI jump that marked the biggest 12-month climb since 2008. Higher consumer prices came amid the U.S. economic resurgence, driven by the vaccine reopening, pent-up demand, easy money policies, and government checks.

Texas and other states have joined a group of at least 21 states that plan to cut off access to boosted unemployment benefits early after economists and analysts noted that they could be contributing to last month’s huge jobs miss, alongside child-care complications due to school closures and lingering virus fears.

Despite the inflation worries and overheating concerns, the broader fundamentals remain strong, from rising earnings estimates to the broader economic reopening that could help the U.S. post its best GDP growth in roughly 35 years. And the recent 50% fall in bitcoin, along with the Nasdaq’s February correction, and recent pullbacks are healthy recalibrations.

Plus, the S&P 500 is up around 25% compared to its pre-pandemic highs, while the Nasdaq has jumped about 39%. Both of which are far less scary than some of the more eye-popping climbs off the virus lows.

Even if the Fed starts to slowly raise its interest rate above its near-zero levels, it hardly signals the end of TINA investing, as Wall Street will still be looking for far better returns. Therefore, investors with long-term horizons should consider adding strong, safe large-cap technology stocks at discounts since tech is set to dominate our lives and the market, despite the return of the cyclical trade that kicked into gear after the election…

The two stocks on today’s list are hardly outside the box. But finding a hidden gem can be hard, especially when many growth-tech names already went on massive runs off last year’s lows. And adding stable tech giants can help anchor any diversified portfolio.

Adobe (ADBE Quick QuoteADBE - Free Report)

We start with one of the preeminent creative and design software companies in the world. Adobe’s subscription-based software includes Photoshop, InDesign, Premiere, and others, as well as newer offerings made for the digital media age where visual presentation is vital.

The company’s subscription-based model helps create stable growth and its creative cloud suite is invaluable to countless businesses, schools, artists and designers, and more. And before it was a creative software titan, Adobe created the PDF and went public in the mid-1980s.

Today its business-focused roster has expanded into e-signature, marketing, and more. Back in December ADBE completed its purchase of Workfront, a leading work management platform for marketers. Overall, its diversified solutions provide a solid moat in a crowded SaaS space.

ADBE crushed our Q1 estimates in late March and raised its guidance. Zacks estimates call for its FY21 sales to surge 20.4% to $15.5 billion, with FY22 set to climb over 14% higher. These projections would extend a streak of roughly 15% or stronger sales growth to eight-straight years. Meanwhile, Adobe’s adjusted earnings are expected to climb by 18% and 15%, respectively. The company also boasts an impressive history of bottom-line beats.

Adobe’s positive EPS revisions help it capture a Zacks Rank #2 (Buy) next to its “B” grade for Growth in our Style Scores system. And Wall Street is very high on the stock overall, with 13 of the 15 brokerage recommendations Zacks has coming in at a “Strong Buy.” This positivity shows up in its performance, with its shares up 410% in the past five years to more than double its industry and top Amazon’s (AMZN Quick QuoteAMZN - Free Report) 365%.

ADBE is up about 30% from its pre-pandemic highs to match its industry, but it has moved practically sideways in 2021.The stock popped Thursday to around $492 a share to put it about 6% below its records and it recently broke above its 50-day moving average. The stock also trades right around neutral RSI levels of 50, while resting 10% below its own year-long median in terms of forward earnings.

Nvidia (NVDA Quick QuoteNVDA - Free Report)

Adobe was one of the first huge names to report its Q1 earnings. Nvidia will be one of the last, with its Q1 FY22 financial results due out on May 26. That means some investors might want to wait for the GPU giant’s report and guidance before jumping in. Yet long-term holders don’t need to worry as much about timing the stock that’s trading 9% below its mid-April records, alongside a near-neutral RSI.

Nvidia became a Wall Street favorite in the chip space for its ability to supply the growing gaming industry with great processors. But its expansion into and success within the booming world of data centers and cloud computing helped cement Nvidia as a titan and the largest U.S. chipmaker by market cap.

Nvidia broke out of a cyclical slump last year, with FY21 revenue up 53% for its best growth in nearly 20 years. The record revenue was driven by a 124% climb in its data-center space to account for about 40% of total sales. Meanwhile, its gaming revenue soared 41%. NVDA also posted 73% adjusted earnings growth last year and more growth is set to come.

Zacks estimates call for NVDA’s fiscal 2022 revenue to soar another 35% from $16.7 billion to $22.5 billion—it pulled in $11.7 billion in FY19—with it set to climb 12% higher in FY23. The firm’s adjusted earnings are projected to jump by 36% and 13%, respectively. NVDA’s positive bottom-line revisions help it grab a Zacks Rank #2 (Buy) and it has consistently topped quarterly estimates.  

Along with its strong Zacks Rank and “B” grade for Growth in our Style Scores system, 16 of the 21 broker recommendations Zacks has are “Strong Buys,” with none below a “Hold." It’s worth mentioning Nvidia’s plans to buy Arm Limited from Softbank for $40 billion, mostly in stock. But it faces a tough regulatory approval process ahead and many analysts think the deal won’t get done. And none of NVDA’s current estimates include the potential deal.

The company currently pays a dividend, but its yield is small considering the stock has skyrocketed 1,200% in the last five years. NVDA is up 65% in the past year to outpace its industry’s 44% and despite some ups and downs it has outpaced the S&P 500 in 2021. And as we touched out at the top, Nvidia is trading 9% below its highs and is right in line with its own two-year median in terms of forward earnings.

Breakout Biotech Stocks with Triple-Digit Profit Potential

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