Despite tech being one of the biggest winning sectors in 2023, there are still some solid buys to be found. The tech-heavy Nasdaq Composite has climbed nearly 4% in December alone, and it’s up 41% in 2023. The rise of artificial intelligence has pushed stocks like Nvidia as well as Microsoft and Alphabet to the forefront of the sector. However, investors may be surprised to learn that even AI darling Nvidia is among stocks on Wall Street that are considered cheap based on their next forward price-to-earnings ratios, according to two new stock screens by CNBC Pro. A search for discounted tech names First, we used FactSet data to screen for stocks within the S & P 500 and Russell 1,000. These are tech-specific names with a P/E ratio based on earnings estimates for the next 12 months of less than 25 times. These stocks also have estimated 2023 earnings growth of more than 5% and a consensus price target reflecting upside greater than 5%. Nvidia shares have more than tripled from the start of the year, but there is still value to be had. The chipmaker’s forward P/E ratio is 24.9, and analysts polled by FactSet forecast nearly 36% upside, based on their consensus price targets. Nvidia is beloved by analysts going into the new year. Bank of America’s Vivek Arya named it his top semiconductor pick for 2024, and Bernstein’s Stacy Rasgon declared that “NVDA is still the best way to play AI.” Google-parent and AI beneficiary Alphabet also made the cheap stock list, despite shares climbing nearly 60% in 2023. The company unveiled its AI model Gemini earlier this month . JPMorgan’s Doug Anmuth recently named Alphabet a top pick in his 2024 outlook. “While still early, we believe Gemini Ultra represents significant innovation & should start to close the Gen AI gap as it rolls out in early ’24,” he said. GOOGL YTD mountain Alphabet stock. Alphabet is trading at 20.5 times the next 12 months’ earnings, while average analyst price targets imply about 12% upside from here. Cheap relative to the tech sector In the second screen, we used FactSet data to look for tech specific names within the S & P 500 that are cheap based on their relative valuation. Here, we evaluated the stocks’ forward P/E ratio compared to the tech sector, and looked at their upside to price target, as well as their performance over the past month. Renewable energy company First Solar made the relative value list. Shares have gained nearly 10% in 2023. First Solar is trading at a forward P/E ratio of about 13, and analysts still see nearly 40% upside for shares. Earlier this week, Oppenheimer named First Solar as a top pick for 2024, citing tailwinds from renewable energy tax credits. “Considering a modest multiple on that underlying earnings power and the value of the tax credits we see FSLR with a clear path to move 35-40%+ higher from current levels,” wrote analyst Colin Rusch. FSLR YTD mountain First Solar stock. Stocks that made the cut include AI beneficiary Nvidia, iPhone manufacturer Apple and chipmakers Broadcom and Qualcomm . – CNBC’s Chris Hayes and Michael Bloom contributed reporting.