1 Incredibly Cheap Semiconductor Stock That Could Start Soaring After Nov. 4 (Hint: It's Not Nvidia)

Nvidia stock has been in stellar form on the market over the past couple of years thanks to the proliferation of artificial intelligence (AI), as the robust demand for the company's graphics cards that are deployed in data centers has led to outstanding growth in its revenue and earnings.Nvidia's dominant position in the AI chip market explains why its shares have shot up a whopping 1,000% in the past two years. The good part is that Nvidia seems to be in a solid position to sustain its AI-powered growth, driven by the arrival of a new generation of chips that are likely to help it extend its technological lead over rivals.But at the same time, investors should note that there are other AI chip stocks that are taking advantage of the growing adoption of AI in other areas. Cirrus Logic (NASDAQ: CRUS) is one such company. Known for supplying smartphone chips to Apple (NASDAQ: AAPL), Cirrus stock stitched impressive gains of 43% so far in 2024.Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool