After skyrocketing more than 7x since the end of the third quarter of 2022, Nvidia is now close to correction territory. The high-flying stock may fall even more.
Investors could be champing at the bit to buy Nvidia on a pullback. That could prove to be a smart move over the long term. However, there are other artificial intelligence (AI) stocks to consider. I predict the following three AI stocks will outgain Nvidia over the next five years.
1. Alphabet
Google parent Alphabet (NASDAQ: GOOG) (NASDAQ: GOOGL) has been a big winner from the AI boom, with its shares jumping more than 40% during the last 12 months. Although this performance doesn’t hold a candle to Nvidia’s, Alphabet could pick up steam while Nvidia loses some momentum.
Valuation is a top consideration. Nvidia trades at nearly 35x sales, while Alphabet’s price-to-sales multiple is below 6.5. Sure, I fully expect Nvidia will…
