The post-election rally has been nothing short of explosive, with the S&P 500 blasting off over 2.5% in response to Donald Trump’s presidential victory. Meanwhile, the tech-heavy Nasdaq 100 was up 2.7%, as tech plays large and small powered higher on hopes for favorable policy changes, most notably lower corporate taxes and less regulation. Indeed, the AI boost began to wobble and wane for part of the summer. As the Trump trade takes hold, perhaps investors have more reasons to pursue tech stocks despite their bid-up multiples.

In this piece, we’ll look at three tech stocks that, in my view, are still enticing despite having the Trump 2.0 optimism already (partially) priced into the market and the tech sector.

Key Points About This Article

• Tech stocks are on the ascent after Trump’s presidential win.
• Nvidia, Qualcomm, and Apple stand out as intriguing after Wednesday’s post-election pop.
• If you’re looking for some stocks with huge potential, make sure to grab a free copy of our brand-new “The Next NVIDIA” report. It features a software stock we’re confident has 10X potential.

Nvidia

Nvidia (NASDAQ:NVDA) is now the world’s largest company, with a market cap of just shy of $3.6 trillion. After Trump’s presidential victory, NVDA stock popped another 4.1%, helping the name break out to new all-time highs. Indeed, whenever NVDA shares breakout, sidelined investors don’t have all too much time to jump in.

After more than tripling in a year, however, investors must ask themselves just how much the AI king has to go. After all, it’s already the largest company on Earth. And doubling up again would entail a market cap north of $7 trillion.

As Nvidia continues powering ahead with new innovations while potentially getting favorable advantages from the Trump administration, the sky seems like the limit for NVDA stock. Of course, only time will tell if NVDA can be the first to a $4 trillion market cap. Either way, I don’t think the firm’s sheer size will hold it back as it continues to make the most of the AI revolution at hand in a way few others can.

Qualcomm

Qualcomm (NASDAQ:QCOM) is another tech titan that found itself up big on Wednesday as investors grew euphoric over Trump’s return to the White House. The less-heated chipmaker rose 4.3% on the day, potentially marking a turn in the semi firm’s fortunes. At writing, QCOM stock is up more than 7% in the after-hours session following a strong quarterly earnings report. Indeed, the Trump victory and Q4 beat seem like the one-two punch that could fuel a rally back to all-time highs.

What was even more impressive than the quarterly numbers themselves was management’s strong guide. As the firm sails into 2025, I think more catalysts could help power further gains. Notably, Qualcomm’s punched its ticket to the AI PC race. And if Qualcomm PC chips can improve upon their shortcomings, the AI tailwinds could become that much stronger.

At 22.2 times trailing price-to-earnings (P/E), I still consider QCOM stock a value play in the AI scene.

Apple

Apple (NASDAQ:AAPL) stock was one of the few tech stocks that did not participate in Wednesday’s Trump rally. In fact, AAPL stock lost ground, falling 0.33% on the day as Bernstein rang alarm bells in investors’ ears over Trump tariff risks. I think such risks have been partially baked into the stock for quite some time now.

Additionally, investors are underestimating CEO Tim Cook and his ability to influence Trump to make moves that don’t drastically hurt Apple.

Indeed, Cook and Trump look to be on very good terms. Donald Trump reportedly praised Cook as a “very good businessman.” Though raising the bar on Trump tariffs may not be 100% unavoidable, I’d not be surprised if Trump made moves that minimize potential damages to the beloved American tech titan. If anything, Trump’s tenure may be a good thing for Apple when all is said and done.

In any case, AAPL stock looks like a fantastic deal (29.9 times forward P/E) after sitting Wednesday’s rally out.

Are there more uncertainties regarding Apple now that Trump’s in office? Sure, but as long as the company continues to innovate, I think it’ll be tough to keep the firm down, regardless of who’s in office.

At this juncture, all signs point to Apple continuing to put its foot on the innovation pedal. It’s in the AI game, the mixed-reality game, and, perhaps most importantly, its services business keeps pedaling higher.

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