Forget Nvidia -- This Semiconductor Stock Is a Much Better Value

Now might be a great time to bite the bullet and buy this semiconductor stock on a dip.Nvidia is a great company and a great stock, but it currently trades on slightly more than 50 times Wall Street's 2024 earnings estimates. That's fine for many investors willing to pay a premium for a high-quality growth stock, but for investors who are willing to take some near-term risk on board, ON Semiconductor (ON 3.54%) might be a better option. Here's why.Cyclicality matters for semiconductor stocksSemiconductors a ...