Some tech stocks are getting too cheap to ignore, but not all of them are good buys right now. Growth stocks took a beating over the past year or so, as rising interest rates and recession fears eliminated investor risk tolerance. These three stocks took a beating in recent months, but they still have great long-term prospects.

Nvidia (NASDAQ: NVDA) was one of the darlings of the pandemic bull market. The semiconductor stock rode a wave of strong results and investor momentum to become one of the largest companies in the world. Its price-to-sales ratio peaked close to 35, and its forward  price-to-earnings (P/E) ratio swelled to 75. Those sorts of valuations weren't sustainable when investors moved away from growth stocks about nine months ago.

Nvidia is much more reasonably priced now. Its forward P/E ratio is around 34, and its price-to-sales is down to 15. Last quarter, the company reported record sales after growing 45%. Nvidia semiconductors are state-of-the-art market leaders in several major growth categories, including data centers, gaming, automation, and robotics. Nvidia has set itself up to be one of the greatest beneficiaries of the emerging tech trends that should define the near future. It's also shrewdly investing in next-generation quantum computing so that it can stay afloat when its current product portfolio becomes obsolete.

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Source Fool.com