Prediction: This Incredibly Cheap but Fast-Growing Semiconductor Stock Could Outperform Nvidia

There is no denying that Nvidia (NASDAQ: NVDA) has been one of the top semiconductor stocks on the market in 2024, with stunning gains of 118% as of this writing. However, the recent stock price action indicates that investor confidence in this high-flying company is now wavering.The past two-and-a-half months have been quite volatile for Nvidia investors, with the stock pulling back significantly. Moreover, it was surprising to see that the chip specialist's latest quarterly report couldn't turn investors' sentiment in its favor despite better-than-expected numbers and healthy guidance for the current quarter.One reason that may be the case is that Nvidia's stunning surge since the beginning of 2023 has made it very expensive from a valuation perspective. The semiconductor stock has jumped a whopping 639% since the beginning of last year. Though it has justified this red-hot rally with outstanding growth quarter after quarter, it still trades at 27 times sales and 50 times trailing earnings.Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool