2023-11-10 05:16:00 ET
Artificial intelligence (AI) is one of the hottest stock market themes of 2023, as the growing prominence of this technology is driving tangible gains for many companies.
Nvidia (NASDAQ: NVDA) , Advanced Micro Devices , and Palantir Technologies are some of the key beneficiaries of AI adoption , which is reflected in the impressive surge these stocks have enjoyed this year. As a result, all three stocks trade at expensive multiples. While Nvidia sports a price-to-sales ratio of 35, AMD and Palantir are trading at 8 and 20 times sales, respectively.
At the same time, there are a few AI stocks that can be bought at attractive valuations right now. Assuming you have $1,000 in investible cash right now (which means that you don't have any high-interest debt, have enough savings for a rainy day, and have paid off your monthly bills), buying shares of Super Micro Computer (NASDAQ: SMCI) and Micron Technology (NASDAQ: MU) could turn out to be a smart move right now.
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Got $1,000? These 2 Artificial Intelligence (AI) Stocks Are Screaming Buys Right Now