3 Cheap Tech Stocks to Buy Right Now
Is there such a thing as cheap tech stocks right now? The market continues to pop higher and tech stocks are leading the way, up 25% so far this year. The Nasdaq Composite's forward price-to-earnings ratio, based on projected earnings for the next 12 months, has been rising steadily since March -- at the time it was 23.3, and now it's at 27.5.
You won't find a lot of tech companies with a P/E less than that, but you can find some interesting names that have a forward P/E far below their 10-year mean prices. In fact, several megacap stocks are trading 40% to 70% below their 10-year mean valuations.
Amazon (NASDAQ: AMZN), Nvidia (NASDAQ: NVDA), and (NASDAQ: NFLX) each show how rising earnings power can outpace a company's stock price -- making these three popular stocks suddenly cheap and affordable compared to their historical values.
Source Fool.com
Netflix Inc. Stock
With 139 Buy predictions and 1 Sell predictions Netflix Inc. is one of the favorites of our community.
As a result the target price of 109 € shows a positive potential of 27.77% compared to the current price of 85.31 € for Netflix Inc..
