AI Boom: Is Nvidia the Only Winner? Uncover Hidden Tech Stock Gems

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**The AI Gold Rush: Get Your Slice of the Pie with These Nvidia Alternatives**

Artificial Intelligence (AI) has become the new tech darling, and Nvidia, a pioneer in AI chips, has seen its shares soar to record highs. But if you’re feeling left out of the AI boom, fear not! We’ve got the scoop on some promising stock alternatives to Nvidia that are still within reach for savvy investors.

**Meta: The Social Media Giant with AI Ambitions**

Despite its recent controversies, Meta (formerly Facebook) remains a solid investment, according to Adam Coons, portfolio manager at Winthrop Capital Management.

“Meta’s revenue growth is projected to increase by 17% this year, with 35% earnings per share growth,” Coons says. “In 2025, that revenue growth is set for a 12% increase and earnings growth for 15%.”

Meta also trades at a lower multiple (26 times 2024’s earnings and 23 times 2025’s earnings) than its peers, including Amazon, Microsoft, and Netflix. This makes it a relatively undervalued stock in the tech sector.

**Alphabet: The AI Innovator with Diversified Revenue Streams**

Alphabet, the parent company of Google, is another compelling Nvidia alternative, according to Coons. “Google has a clear path to monetize AI,” he says. “The company can improve advertiser results which increases Google’s ad revenue and it can monetize AI through subscriptions of its Gemini product.”

  • Gemini, Google’s suite of generative AI tools, has the potential to replace Google Assistant on its Android phones.
  • Alphabet’s shares are still trading at a reasonable 22 times forward earnings, despite its strong sales growth.
  • The company remains diversified with businesses unrelated to its marketing unit, such as Google Cloud, which is nearing billion in operating profit.

**Qualcomm: The AI Powerhouse with Growing Market Opportunities**

Qualcomm qualifies as one of the cheapest alternatives to Nvidia, according to Angelo Zino, vice president and senior equity analyst at CFRA Research. “Qualcomm is well-positioned to benefit from growing demand for AI-powered devices across industries,” says Zino.

  1. Qualcomm’s total market opportunity includes AI PCs, smartphone content, autonomous cars, and Internet of Things products.
  2. The company is benefiting from improving China demand and the rising popularity of premium Android devices.
  3. Qualcomm’s focus on higher-margin products like DRAM servers and high-bandwidth memory gives it upside potential.

**Micron: The Memory Chip Player Poised for a Recovery**

Micron, another cheap alternative to Nvidia, is well-positioned to recover in the memory chip industry, according to Zino.

  • Micron is tightly aligned with Nvidia’s H200, a graphics processing unit that enhances AI workload performance.
  • The company’s emphasis on higher-priced DRAM servers and high-bandwidth memory will drive future growth.
  • Zino believes Micron’s multiple could expand, offering investors potential upside.

**Conclusion**

While Nvidia may seem like an elusive investment, there are plenty of compelling alternatives out there that can help you capitalize on the AI boom. Meta, Alphabet, Qualcomm, and Micron offer solid growth prospects, attractive valuations, and unique AI capabilities. Whether you’re a seasoned investor or a newbie, these Nvidia alternatives provide an excellent opportunity to get your slice of the AI pie.