Got $1,000? Buy These Cheap Growth Stocks Right Away
It is difficult to find high-growth companies trading at attractive valuations, especially in the technology sector, where stocks usually trade at rich valuations. The rich valuations happen because they tend to outperform the broader market on the back of disruptive products and services that may fuel rapid long-term growth.
Not surprisingly, the average price-to-earnings (P/E) ratio of the tech-heavy Nasdaq 100 Index stands at 38.4 as compared to the Dow Jones Industrial Average's average P/E ratio of 26.3 and the S&P 500's average multiple of 36.6.
However, there are a few tech companies that continue to trade at attractive valuations despite crushing the broader market. Qorvo (NASDAQ: QRVO) and Jabil (NYSE: JBL) are two stocks that have made investors significantly richer over the past five years.
Source Fool.com
