Keithen Drury, The Motley Fool Thu, November 12, 2026 at 11:23 AM EST 5 min read NVDA -5.16% Trade NVIDIA on Coinbase Trading disclosure Trading disclosure The above button links to Coinbase. Yahoo Finance is not a broker-dealer or investment adviser and does not offer securities or cryptocurrencies for sale or facilitate trading. Coinbase pays us for certain activity generated through this link. Prices displayed are informational.
Nvidia (NASDAQ:NVDA) may have been the most popular AI stock on the market, but that status is quickly fading. CEO Jensen Huang admitted to an affair with a woman U.S. officials suspect is a Chinese spy, and the Wall Street Journal reports Nvidia's board is preparing to remove him after a second reported affair, this time with an employee.. That's the status as of the morning of Nov. 12, and things are moving fast.
This is a problem because Huang is widely regarded as a visionary in the field and has built Nvidia into the giant it is today. While I think that the stock and company will be fine over the long term, not every investor shares that sentiment and is looking for alternative chip stocks to invest in.
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So, if you're looking for somewhere different to invest, the two best Nvidia alternatives I have are Micron (NASDAQ:MU) and Broadcom (NASDAQ:AVGO). Each plays a different role in the AI build-out, but both are well worth buying right now.
Micron and Broadcom are each doing quite well right now. Micron makes memory chips, which are utilized in several devices, including Broadcom and Nvidia computing units. These are indispensable pieces of equipment, and with demand for memory chips far exceeding supply, prices have soared, benefiting Micron significantly.
The market hasn't seen an end to the memory chip pricing spikes, and it likely won't for some time. Micron's management team told investors during the last quarterly earnings report that it expects demand to exceed supply by an even wider margin in 2027 and 2028 than in 2026, despite more production facilities coming online.
No downturn appears imminent in the memory chip sector, and Micron investors should take note.
Broadcom competes more directly with Nvidia. Instead of offering a broad-purpose computing unit like a GPU, it's partnering directly with AI hyperscalers to design a purpose-built AI chip for their workloads. This has become a wildly popular idea, and many AI firms are starting to work with Broadcom to bring their design into production.
This has led to significant growth, with Broadcom's AI semiconductor sales increasing by 221% in its fiscal third quarter. This isn't a short-term wave, either. Broadcom expects its AI semiconductor revenue to roughly double to about $115 billion in fiscal 2027 and sees a path to doubling again in fiscal 2028. That shows just how popular Broadcom's computing units are becoming.
Both of these offer similar, if not better, growth than Nvidia is putting up right now. Furthermore, they don't have the headline risks associated with Nvidia, so they may be pretty safe stocks to invest in to close out 2026.
To further bolster their investment thesis, each of these stocks is also relatively cheap.
To value the stocks, I'll utilize their fiscal year 2027 earnings projections. Both Broadcom and Micron are already in FY 2027, since their fiscal years aren't calendar-based.
From this perspective, both Micron and Broadcom are trading at very cheap price tags.
Micron is obviously eye-popping at 4 times forward earnings. This is mainly because the market views its success skeptically, as it has historically been a cyclical business. However, with AI demand expected to continue for many more years and Micron's management team telling investors conditions will stay tight over the next two years, I think it's in great shape.
Broadcom is still pretty cheap at 17 times forward earnings. For reference, the S&P 500 (SNPINDEX:^GSPC) trades at 19 times forward earnings, so it's cheaper than the broader market despite growing at a far faster pace.
Both stocks look like great options to invest in outside of Nvidia if you're a bit concerned about how the company will perform moving forward. Both Broadcom and Micron are great alternatives, and each should deliver strong returns going forward.
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Keithen Drury has positions in Broadcom, Micron Technology, and Nvidia. The Motley Fool has positions in and recommends Broadcom, Micron Technology, and Nvidia. The Motley Fool has a disclosure policy.
2 Chip Stocks to Buy Instead of Nvidia Right Now was originally published by The Motley Fool
