Many stocks on the Nasdaq exchange are trading at extremely high valuations. That can make picking stocks to buy there a challenge, as many of them may be due for significant corrections due to their inflated price tags. Below, however, I'm going to look at three of the cheapest stocks on the Nasdaq-100 index, which, based on their expected future profits, appear to be bargain buys, and I'll look at why they appear to be so cheap and why they may be trading at discounts.
Micron Technology (NASDAQ:MU), PDD Holdings(NASDAQ:PDD) , and Adobe (NASDAQ:ADBE) all appear to be trading at dirt cheap valuations. Are they incredible buys right now, or is there more to the story with their seeming low prices?
Missed Nvidia in 2009? This Rare Signal Is Flashing Again. In 2009, a "Double Down" signal flashed for a little-known chipmaker called Nvidia. For the first time in years, that same "Total Conviction" signal is flashing for a company 1/100th the size of Nvidia. Continue »
Image source: Getty Images.
What's intriguing about Micron Technology is that it has generated massive gains over the past year -- up around 660%. Normally, when that happens, a stock's valuation becomes rich, and it looks to run out of room to rise higher. But with Micron, that doesn't appear to be the case. Based on ******* yst projections, it's trading at a forward price-to-earnings (P/E) multiple of just 6.5. By comparison, the average stock on the S&P 500 trades at a forward earnings multiple of 21. Micron, it seems, may still be due to rise higher.
#appear
Micron Technology (NASDAQ:MU), PDD Holdings(NASDAQ:PDD) , and Adobe (NASDAQ:ADBE) all appear to be trading at dirt cheap valuations. Are they incredible buys right now, or is there more to the story with their seeming low prices?
Missed Nvidia in 2009? This Rare Signal Is Flashing Again. In 2009, a "Double Down" signal flashed for a little-known chipmaker called Nvidia. For the first time in years, that same "Total Conviction" signal is flashing for a company 1/100th the size of Nvidia. Continue »
Image source: Getty Images.
What's intriguing about Micron Technology is that it has generated massive gains over the past year -- up around 660%. Normally, when that happens, a stock's valuation becomes rich, and it looks to run out of room to rise higher. But with Micron, that doesn't appear to be the case. Based on ******* yst projections, it's trading at a forward price-to-earnings (P/E) multiple of just 6.5. By comparison, the average stock on the S&P 500 trades at a forward earnings multiple of 21. Micron, it seems, may still be due to rise higher.
#appear
2 months ago
