3 Top Bargain Tech Stocks Ready for the Next Bull Run

Following President Donald Trump's "Liberation Day" tariff announcement, stocks plummeted as fears escalated regarding a potential global trade war and how it could impact the global economy. While there certainly could be more pressure on stocks in the coming weeks depending on how this all plays out, it also has created some solid entry points for several top tech stocks where investors can start to at least dip their toes into the stocks.

Let's look at three bargain tech stocks investors can consider buying now.

1. Nvidia

Being one of the top growth stocks in the past few years has not stopped Nvidia (NVDA 3.13%) from getting thrown into the bargain bin with a lot of other stocks. The stock now trades at a forward price-to-earnings ratio (P/E) of only 23 times based on this year's analyst estimates and a price/earnings-to-growth (PEG) ratio near 0.4. Stocks with PEGs below 1 are considered undervalued, so Nvidia stock is clearly on the clearance rack.

However, the company still has a lot of potential growth in front of it. Its graphic processing units (GPUs) are helping drive the artificial intelligence (AI) revolution and there are no signs a trade war will stop that. Meanwhile, semiconductors are reportedly exempt from the tariffs that have been placed on Taiwan, which is where most are manufactured.

As such, this should not slow down the current pace of the AI infrastructure buildout. Nvidia has predicted that data center capital expenditures (capex) will reach $1 trillion by 2028. This is being led by the three big cloud computing companies, which are rich in cash. Combined, they plan to spend $250 billion in AI infrastructure-related capex this year. At the same time, other tech companies are rushing to build better AI models, while large enterprises are looking toward a hybrid cloud approach to AI.

Given its valuation and the opportunities still in front of it, Nvidia looks like a solid stock to buy on the dip.

Image source: Getty Images.

2. Amazon

Perhaps not surprisingly, as the world's largest e-commerce retailer, Amazon's (AMZN 0.77%) shares were punished by the new tariffs announced. It sells a lot of goods from third parties that are made in countries like China, and these goods are likely to suddenly get more expensive. This could lead to a slowdown in sales, especially if a global recession hits.

That said, most goods are made in foreign countries like China, so the playing field versus competitors has not changed. Long-term, the tailwinds in e-commerce remain, while Amazon has been doing a great job driving earnings growth through its higher-margin sponsored ad business and driving logistic and warehouse efficiencies through AI.

Perhaps even more importantly, the company is much more than an e-commerce retailer. Amazon's largest segment by profitability is its Amazon Web Services (AWS) cloud computing unit. The company is investing heavily in data center infrastructure to increase capacity to meet growing demand for its AI services. It also has developed its own custom AI chips, helping give it a cost advantage.

Trading at a forward P/E of only 28.5 times, the stock is at one of the cheapest levels it has been in a decade.

3. Meta Platforms

Another stock that got hit hard by the tariff announcements is Meta Platforms (META 0.37%). The company has been operating well of late, seeing 21% revenue growth last quarter. This is being led by its AI efforts, which help its advertisers create better campaigns and better target potential customers. It is also leading to users spending more time on its apps, which allows it to show more ads.

That said, Meta is an ad-based business, so the impact of higher prices and a potential global recession could very well hurt its business in the short to medium term. During periods of weak consumption, it is common for advertisers to pull back their spending. However, the company is one of the go-to digital advertising platforms out there with a proven track record of success for its advertisers. As such, it tends to be one of the last places they cut back their spending.

The company also has a nice longer-term opportunity with its latest social media platform, Threads. Meta is currently just building out the audience on the platform, so it is not contributing to revenue at the moment. However, when the time is right, it should have a strong monetization opportunity.

Following the dip in its stock price, Meta now trades at a forward P/E of just above 21. That's a bargain price for one of the leading digital advertising companies in the world that has shown a strong ability to innovate.