Forget Nvidia: This Could Be the Most Underrated AI Stock to Buy Right Now
If you're thinking about buying shares of Nvidia now, one issue you might be finding it hard to get around is its valuation. While the chipmaker's growth prospects are undoubtedly amazing, is the stock really worth paying more than 70 times earnings for? For many investors, the answer has been a resounding yes -- the chipmaker's market cap is up by around 150% this year to $3 trillion.
But if you're worried that Nvidia's high valuation could limit its returns in the future, then you might want to consider other stocks involved with artificial intelligence (AI) that could have more upside. One worth considering is Alibaba Group (NYSE: BABA).
Alibaba is a tech giant in China, but it has promising growth opportunities in other markets as well. And it's taking a page out of the handbooks of some of its e-commerce peers with its efforts to use AI to make it easier for sellers on its platform to reach customers in other countries.
Source Fool.com
Alibaba Group Holding Ltd ADR Stock
The stock is one of the favorites of our community with 42 Buy predictions and 2 Sell predictions.
With a target price of 108 € there is a hugely positive potential of 53.19% for Alibaba Group Holding Ltd ADR compared to the current price of 70.5 €.
