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
The stock is one of the favorites of our community with 124 Buy predictions and 3 Sell predictions.
With a target price of 100 € there is a hugely positive potential of 56.74% for Netflix Inc. compared to the current price of 63.8 €.
