When I value AI stocks, I focus more on multi-year AI capex trends, demand visibility, and free cash flow quality rather than just P/E ratios. I also separate “picks-and-shovels” like $Taiwan Semiconductor Manufacturing(TSM)$ and $Broadcom(AVGO)$ from more competitive compute names like AMD.
If I had to choose, I’d favor NVDA and TSMC for resilience, with AVGO as a steady compounder. I’d stay tactical on MU and cautious on INTC. Overall, AI still looks like a mid-cycle growth story, not a late-stage peak.
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