Nvidia (NASDAQ: NVDA) has owned the stock market spotlight in 2024, which isn't surprising given its 145% year-to-date gain. For a brief moment in June, it even became the most valuable company in the world when its market cap eclipsed $3.4 trillion.

It's unlikely Nvidia stock will deliver a comparable gain in the second half of this year, purely because of its sheer size and its valuation relative to its earnings. For that reason, investors might be better off looking at other stocks to drive their portfolios forward.

Axcelis Technologies (NASDAQ: ACLS) is a critical service provider to the semiconductor industry. Its stock has soared 800% over the last five years, yet it's still incredibly cheap compared to its peers. Management is forecasting a strong second half of 2024, so here's why it could be the ideal stock to buy right now.

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Source Fool.com