Think Nvidia Is Overvalued? Buy This "Magnificent Seven" Stock Instead
Those who invested in Nvidia (NASDAQ: NVDA) a few years ago are sitting pretty right now. The tech giant has seen its shares skyrocket, even more so than its otherwise high-performing "Magnificent Seven" peers, partly thanks to its artificial intelligence (AI) system sales.
However, as is often the case with stocks that crush the market, some investors are now worried about valuation. With a forward price-to-earnings ratio of about 35 -- where the average for the S 500 is 20 -- Nvidia's shares don't exactly look cheap.
The premium might be justified if the chipmaker continues delivering the kinds of results it has lately, but for investors who want a cheaper Magnificent Seven stock that can also allow them to profit from the AI boom, let's consider why (NASDAQ: GOOG) (NASDAQ: GOOGL) is a solid option.
Source Fool.com
Alphabet Inc. C Stock
The stock is an absolute favorite of our community with 26 Buy predictions and no Sell predictions.
With a target price of 165 € there is a positive potential of 20.21% for Alphabet Inc. C compared to the current price of 137.26 €.
