The article argues that tech stocks have slid on concerns over the Iran war and possible rate hikes, and highlights three AI-related names as potential buys on the dip. ASML, down 18% from its 52-week high, is expected to generate around 45 billion euros in revenue this year, up about 38%, and trades at a forward P/E of 29. Taiwan Semiconductor Manufacturing, with about a 70% foundry market share, reported 51% revenue growth and 69% earnings growth, is down 12% from its high, and trades at a forward P/E of 21. Broadcom, down 32% from its 52-week high, reported 86% growth in the period ended Aug. 2 and 221% growth in AI semiconductor revenue, with a forward P/E of 19 but more than 40 times trailing earnings.
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