1 Semiconductor Stock Under $5 That's Outperforming Nvidia

Semiconductor stocks have pulled back from their highs, which presents an excellent buying opportunity as the industry continues to experience a boom. With the artificial intelligence (AI) era driving massive demand for semiconductors across multiple sectors, the Semiconductor Industry Association (SIA) recently reported strong growth numbers for Q2 of 2024, featuring an 18.3% global surge in semiconductor sales year over year.

While Nvidia (NVDA) has emerged as the undisputed leader of the AI chip niche, many investors are now looking beyond the multi-trillion dollar behemoth for growth opportunities. Against this backdrop, penny stock POET Technologies (POET) has emerged as a tiny powerhouse in the semiconductor space. Trading under $5 per share, POET has powered its way to a gain of 195% so far in 2024 - outpacing even the impressive 150% returns of NVDA itself.