The stock is cheaper than it's been in over a year, but is that enough? However, a bigger computing trend is going on right now that's far more important than the consumer PC market: artificial intelligence (AI) computing.

Over the past year, a number of semiconductor stocks have witnessed meteoric gains thanks to ongoing euphoria surrounding artificial intelligence (AI). The share prices of Nvidia, Taiwan Semiconductor Manufacturing, and Broadcom have all risen approximately 80% over the last 12 months -- handily outperforming both the S&P 500 and Nasdaq Composite.

Artificial intelligence (AI) has probably been the hottest investment theme on the planet over the past year. You can go to Nvidia for GPUs and networking options, for example, or you can sign on for enterprise software to streamline the deployment of an entire AI platform.