A lot of hope is being placed in Intel's (NASDAQ: INTC) Foundry Services business and for good reason. It's not just a pillar of chipzilla's plan to recapture semiconductor industry dominance, it's also an important endeavor as countries around the globe try to localize chip manufacturing. Numerous other chip companies like Nvidia (NASDAQ: NVDA), Advanced Micro Devices (NASDAQ: AMD), and memory chipmaker Micron Technology (NASDAQ: MU) have stated that some end markets for semiconductors (consumer electronics like PCs and smartphones in particular) are in decline after a couple of years of record spending during the pandemic.
At the time of writing, Apple, Microsoft, Alphabet, and Amazon are the only four U.S. companies with a market capitalization of $1 trillion or greater. Tesla is not far behind, with a market cap of $907 million. It goes without saying that these companies all had much smaller market caps not too long ago.
The growth-heavy Nasdaq Composite index is still teetering on the edge of a bear market, but for investors willing to take on potential volatility, the good news is that some very promising businesses are still trading at huge valuation discounts. To help put investors on the trail of growth stocks capable of delivering explosive returns, a panel of Motley Fool contributors has profiled top picks trading at attractive valuation levels. Read on to see why they believe long-term investors can score big wins by investing in Advanced Micro Devices (NASDAQ: AMD), Cloudflare (NYSE: NET), and RingCentral (NYSE: RNG) at today's prices.