3 Cheap Tech Stocks to Buy Right Now
While the broader stock market has bounced back somewhat following its recent sell-off, many tech stocks are still well off their highs and trading at cheap valuations. Let's look at three cheap tech stocks you can buy right now.
Trading down almost 23% from its highs, Nvidia (NASDAQ: NVDA) is an attractively valued growth stock. The company has been able to more than double its revenue each of the past two years, while analysts expect the company's revenue to increase by more than 50% this year.
Despite that, Nvidia's stock only trades at a forward price-to-earnings ratio (P/E) of under 27 times this year's analyst estimates and a price/earnings-to-growth (PEG) under 0.5. Stocks with PEGs below 1 are usually considered undervalued, so a PEG of 0.5 certainly puts Nvidia in value territory.
Source Fool.com
