1 Cheaply Valued Artificial Intelligence (AI) Stock to Buy Hand Over Fist Before April 18
Buying an artificial intelligence (AI) stock that's trading at an attractive valuation and is growing at an impressive pace might seem difficult right now considering that companies in a position to take advantage of this technology have witnessed a rapid jump in their share prices in the past year or so.
Nvidia, for instance, is trading at 71 times trailing earnings, though the good part is that the chipmaker has been able to justify its premium valuation with outstanding growth. On the other hand, AI software play Palantir Technologies is trading at an expensive valuation, but its growth hasn't been enough to justify its rich multiples.
However, investors looking for a mix of growth and value in the AI niche are in luck as there is one company -- Taiwan Semiconductor Manufacturing (NYSE: TSM), popularly known as TSMC -- that's not only cheap right now but also seems set to deliver impressive growth. Let's look at why investors should consider buying this stock before it releases its first-quarter 2024 results on April 18.
Source Fool.com
Taiwan Semiconductor Manufacturing Co. Ltd. ADR Stock
Taiwan Semiconductor Manufacturing Co. Ltd. ADR is currently one of the favorites of our community with 17 Buy predictions and no Sell predictions.
With a target price of 150 € there is a slightly positive potential of 16.46% for Taiwan Semiconductor Manufacturing Co. Ltd. ADR compared to the current price of 128.8 €.
