The Nasdaq Composite (NASDAQINDEX: ^IXIC) has had a monster two-year run. After gaining 43% in 2023, the index put up around 30% gains in 2024, marking one of the best-performing periods in its history.

Wedbush analyst Dan Ives remains bullish and expects Tesla's market cap to hit $2 trillion in 2025, saying the coming four years will be a "total game changer" for Tesla. He expects the Trump administration to fast-track full self-driving (FSD), paving the way for the company's robotaxi agenda.

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.

A healthy jump in this company's earnings could send its stock higher, which is why it looks worth buying considering its cheap valuation. Following a solid couple of years in 2023 and 2024, it wouldn't be surprising to see the Nasdaq Composite index fly higher in the new year.

This semiconductor and data center player has grown like wildfire over the past couple of years and shows no signs of slowing.