Nvidia Is on a Historic Run, but Here Are 2 Tech Stocks I'd Buy Instead

Nvidia's dominance in gaming and data center chips has made it a must-own stock for many investors

Nvidia (NASDAQ: NVDA) has been on a tear in recent years, with its stock price more than doubling in the past year. The company's dominance in gaming and data center chips has made it a must-own stock for many investors. However, there are a few other tech stocks that I think are even better buys right now.

Here are two tech stocks that I'd buy instead of Nvidia

1. Advanced Micro Devices (AMD)

AMD has been a major beneficiary of the shift to cloud computing. The company's server chips are now widely used by major cloud providers such as Amazon Web Services (AWS) and Microsoft Azure. AMD is also making inroads into the gaming market, with its Radeon graphics cards now competitive with Nvidia's GeForce cards. I believe that AMD is well-positioned to continue to grow in the coming years, and I would recommend it over Nvidia for investors looking for a long-term investment.

2. Qualcomm (QCOM)

Qualcomm is a leading provider of chips for mobile devices. The company's Snapdragon chips are found in most of the world's smartphones. Qualcomm is also a major player in the automotive market, with its chips used in many of the world's cars. I believe that Qualcomm is a well-positioned company to benefit from the growth of the mobile and automotive markets. I would recommend it over Nvidia for investors looking for a more defensive investment.

Conclusion

Nvidia is a great company, but I believe that AMD and Qualcomm are better buys right now. These two companies are well-positioned to benefit from the growth of the cloud computing, gaming, and mobile markets. I would recommend them to investors looking for long-term growth.