Tech Sell-Off: 2 Stocks to Buy Right Now

After a strong run, tech stocks have suddenly pulled back, with investors rotating into other sectors. The move shouldn't be a total surprise -- tech stocks had greatly outperformed the market over the past couple of months, and the sector really needed a breather.

The good news for investors is that this tech dip has created some good openings for some top stocks. Let's look at two to buy right now.

Nvidia

Despite shifts in the artificial intelligence (AI) market, Nvidia (NASDAQ: NVDA) remains the king of AI infrastructure, and the stock is trading at an attractive valuation with a forward price-to-earnings ratio (P/E) below the 16.5 analyst estimates for fiscal 2028 (ending January 2028).

The company remains the dominant player in AI model training with its graphics processing units (GPUs). And its CUDA software platform, where most foundational AI code was written, gives it a powerful moat. It continues to be a growth machine, with revenue soaring 85% last quarter and expected to accelerate in the fiscal second quarter.

Despite its dominance, the company hasn't been sitting still, positioning itself for the next stage of AI. It recently struck a licensing deal with Groq, incorporating its language processing units (LPUs) built for inference into its CUDA system.

At the same time, it has also made a big push into high-performance central processing units (CPUS) for data centers, which are seen as a potential $200 billion market with the rise of agentic AI. The company is now incorporating these chips along with its networking portfolio to deliver end-to-end systems designed specifically for various AI tasks, including training, inference, and agentic AI.

Nvidia still has a lot left in the tank, and the recent tech sell-off opens up an opportunity.

Image source: Getty Images.

Amazon

Even after a big spring rally, Amazon (NASDAQ: AMZN) finds its stock up only about 5% on the year following the recent tech pullback. At a forward P/E of 28 times based on the 2026 consensus, the stock continues to trade at a historically low multiple. This is for a company with two world-class businesses that are hitting on all cylinders.

Amazon's largest segment by profitability and fastest growth is its cloud computing unit Amazon Web Services (AWS). The company created the entire infrastructure-as-a-service concept, and it remains the largest player today.

AWS growth has started to accelerate, with revenue climbing 28% last quarter to $37.6 billion. With partnerships and large commitments from Anthropic and OpenAI, AWS should continue to increase growth throughout the year.

The company also looks well positioned for agentic AI, teaming up with OpenAI to release Amazon Bedrock Managed Agents, powered by OpenAI. This will provide developers with a secure place that lets "AI agents keep context, remember prior work, work across software tools and data sources, and access compute," according to management. It also has its own ARM-based custom CPUs, which are becoming increasingly important with agentic AI.

The company's chip business presents a big advantage that should not be overlooked. It is currently has a $20 billion run rate, and including internal use, it's closer to $50 billion. This helps Amazon get more out of its AI infrastructure spending and reduces inference costs.

Amazon is also the world's leading e-commerce company. It's a solid revenue-growing business, but what's going on behind the scenes is what makes it special. The company is the world's leading maker and operator of robots, with over 1 million robots used in its fulfillment centers coordinated by its DeepFleet AI model. With robots and AI, management is driving a lot of efficiencies, creating a lot of operating leverage in its e-commerce and helping profits soar.

Given its cloud and e-commerce leadership, this is a stock you want to buy and hold for the long term.

Geoffrey Seiler has positions in Amazon. The Motley Fool has positions in and recommends Amazon and Nvidia. The Motley Fool has a disclosure policy.