Missed Out on Nvidia's Magnificent Rally? Buy This Incredibly Cheap Artificial Intelligence (AI) Stock Before It Goes Parabolic.
Shares of Nvidia (NASDAQ: NVDA) have delivered incredible returns of 193% to investors in the past year, and a big chunk of those gains can be attributed to the booming demand for the company's artificial intelligence (AI) chips.
After all, Nvidia's top and bottom lines started growing at an eye-popping pace thanks to the AI-fueled demand for its graphics processing units (GPUs). The chipmaker's revenue is expected to double in the current fiscal year to $54 billion, which would be a massive jump over the flat revenue growth it clocked in the previous fiscal year.
However, the big surge in Nvidia stock means that investors will now have to pay 97 times trailing earnings and 31 times sales if they wish to buy the shares. Those are extremely rich multiples, though it cannot be denied that the company can justify them by sustaining its terrific growth. But investors who aren't comfortable paying rich multiples for Nvidia stock have an option to capitalize on the proliferation of AI in the form of Opera (NASDAQ: OPRA).
Source Fool.com
