$NVIDIA(NVDA)$ $Broadcom(AVGO)$ is now at a P/E of nearly 40 with debt on balance sheet at $60 billion. NVDA has nearly $30 billion in cash on the balance sheet with a lower forward P/E. NVIDIA and $Micron Technology(MU)$ are the stocks with most upside from AI. AVGO and $Marvell Technology(MRVL)$ are great companies but their stocks are fully valued.

Of course, NVIDIA's rate of growth is decelerating, compared to when its market cap was less than half a trillion$. Now it's 3.5 trillion market cap approximately, so it can't double from that every year. But NVIDIA EPS growth is still robust, along with demand for Blackwell chips. NVIDIA stock will probably sell off toward $150/share after their CES conference in mid-January. And that may be an opportune time to add NVIDIA shares.