NVDA - Forget Nvidia: Here's Another Spectacular Semiconductor Stock to Buy Right Now According to Wall Street
2024-06-30 05:21:00 ET
I'm being facetious when I tell you to forget Nvidia (NASDAQ: NVDA) . After all, how can you ignore a stock that soared nearly tenfold in just 18 months and now has a $3.1 trillion market cap, which accounts for 6.7% of the entire S&P 500 index? Not to mention, the company's chips are the driving force behind artificial intelligence (AI).
However, the incredible run in Nvidia stock made it quite expensive , even relative to its expected earnings a couple of years from now. Nvidia isn't the only chipmaker reaping the rewards of AI, so investors might find better value in other stocks in this space.
Micron Technology (NASDAQ: MU) is one to consider. The overwhelming majority of the analysts tracked by The Wall Street Journal give it the highest possible buy rating, with none recommending selling. Here's why.
For further details see:
Forget Nvidia: Here's Another Spectacular Semiconductor Stock to Buy Right Now, According to Wall Street