Missed Out on Nvidia's Skyrocketing Trillion-Dollar AI Run? Here's My Best AI Chip Stock to Buy Now and Hold Forever.
The tech sector is going wild in 2023. A sectorwide frenzy for artificial intelligence (AI) stocks is driving many stocks through the ceiling. In particular, chip designer Nvidia (NASDAQ: NVDA) has joined the exclusive club of trillion-dollar market caps by more than tripling its stock price in the last 52 weeks.
This doesn't look like the best time to put new money into Nvidia, though. I'm tempted to cash in some of the gains in my own Nvidia position, because this rally may be overdue to a painful price correction. There's no shame in taking some Nvidia profits off the table. Even CEO Jensen Huang is doing it.
However, there's no shortage of AI chip stocks that haven't soared like Nvidia this year. If you missed the skyrocketing Nvidia jump -- or maybe you're planning to move a part of your Nvidia gains into a less overheated chip stock -- you should consider Dutch-Texan semiconductor giant NXP Semiconductors (NASDAQ: NXPI).
Source Fool.com
NXP Semiconductors NV Stock
The stock is one of the favorites of our community with 38 Buy predictions and 1 Sell predictions.
With a target price of 268 € there is a slightly positive potential of 13.08% for NXP Semiconductors NV compared to the current price of 237.0 €.
