The widely followed Nasdaq-100 Index ($IUXX) (QQQ) has staged a spectacular comeback from its lackluster performance in 2022, rising more than 38% year-to-date. But a deeper dive into the index's components reveals that this rally has somewhat uneven, with outsized gains for artificial intelligence (AI) stocks like Nvidia (NVDA), Microsoft (MSFT), and Meta Platforms (META) helping to skew the overall returns higher.
The upside is that investors can still find a variety of Nasdaq-100 stocks trading at relatively affordable valuations, which means there are still potential bargains to be found in the back half of the year. While the average price-to-sales (p/s) ratio for Nasdaq-100 members is 4.35x, here's a look at three noteworthy stocks currently trading at lower multiples.
