5 Cheap Tech Stocks to Buy Right Now
Technology stocks have been leading the market higher the past few years, but that doesn't mean there still aren't good values out there. Let's look at five cheap tech stocks to buy right now.
While Nvidia's (NASDAQ: NVDA) stock isn't often associated with being cheap, it trades at a forward price-to-earnings ratio (P/E) of just 25 times next year's analyst estimates. For a company that just grew its revenue by 62% last quarter and continues to see insatiable demand for its graphics processing units (GPUs), that's a bargain.
Spending on artificial intelligence (AI) just continues to climb, and Nvidia remains in the best position to capture it. It has about a 90% market share in the GPU market, and its CUDA software platform, which is where most foundational AI code has been written, gives it a wide moat. And the company has shown it is ready to go on the offensive following a few recent acquisitions and partnerships.
Source Fool.com
