1 Hot AI Stock That Could Join Nvidia in the $1 Trillion Club -- and Is a Screaming Buy Right Now
Artificial intelligence (AI) has helped Nvidia (NASDAQ: NVDA) become a $1 trillion company. It's become clear that the chipmaker is going to play a critical role in the growth of this technology with its powerful graphics cards, which are used to help train large AI models.
The surging demand for Nvidia's graphics cards explains why the company delivered terrific revenue guidance of $11 billion for the current quarter, which would translate into a 53% sequential jump. The year-over-year growth is going to be even more handsome at 64%. Such solid numbers sent shares of Nvidia up 190% in 2023, which explains why it is trading at a whopping 41 times sales and 220 times trailing earnings.
However, there is another chipmaker that's trading at an extremely attractive valuation and could join Nvidia in the $1 trillion club thanks to AI: Taiwan Semiconductor Manufacturing (NYSE: TSM), popularly known as TSMC. Let's see why that may be the case.
Source Fool.com
Taiwan Semiconductor Manufacturing Co. Ltd. ADR Stock
With 34 Buy predictions and not a single Sell prediction Taiwan Semiconductor Manufacturing Co. Ltd. ADR is an absolute favorite of our community.
As a result the target price of 180 € shows a slightly positive potential of 11.11% compared to the current price of 162.0 € for Taiwan Semiconductor Manufacturing Co. Ltd. ADR.
