1 Unstoppable Semiconductor Stock Is Up 131% in 2023, But It's Dirt-Cheap Compared to Nvidia
The semiconductor industry has been a focus point for investors this year as demand surges for advanced chips used in data centers to train artificial intelligence (AI) models. Shares of Nvidia have soared 217% for 2023 (so far) thanks to the company's dominant position in the space.
But the opportunities in the chip industry are broad, so investors might do well to look at stocks that are flying under their radar. Axcelis Technologies (NASDAQ: ACLS) is one of them; its stock has jumped 131% year to date, yet it's still in tune with the broader market, and significantly cheaper than widely held names like Nvidia.
The company just reported its financial results for the second quarter of 2023 (ended June 30). It beat its prior revenue and earnings forecasts, and lifted its full-year guidance yet again. Here's why investors should consider buying in right now.
Source Fool.com
