Some less prominent companies have long-term growth prospects, including Texas Instruments (TXN.O), Dell (DELL.N), and Maywell Technology (MRVL.O).

Nvidia (NVDA.O) shares soared after the release of its latest earnings report. However, the technology industry is not limited to this artificial intelligence chip giant, and its “Big Seven.”

Other tech stocks have also performed very well and still have long-term growth potential. Dell has also taken advantage of the wave of artificial intelligence, and its stock price is currently at an all-time high. Dell will announce its earnings report on May 30. Thanks to new enterprise servers powered by Nvidia Blackwell chips, Dell's business has been boosted. Dell is no longer “Hey dude, you bought a Dell!” The company in the ad, but its stock is still reasonably priced, with a price-earnings ratio of only 20 times.

Semiconductor company Maywell Technology, whose artificial intelligence chip business is growing, and Dow component company Salesforce (CRM.N), which launched Einstein's generative AI GPT for cloud software customers, will also release financial reports next week.

These stocks aren't as dazzling as Nvidia, but that's no problem. In fact, Artisan Partners' portfolio manager Daniel Kane said he found “boring but excellent tech” stocks more appealing.

For example, analog chip giant Texas Instruments. Kane believes that the company's semiconductor products often last more than 10 years and are key components in automotive and industrial equipment, as well as consumer electronics devices with high cycles. He pointed out that Texas Instruments has been busy moving production sites to plants in Utah and Texas. This kind of “offshoring” helps keep it away from the vortex of regulation and politics.

Kane holds shares of Texas Instruments in the Artisan Value Fund (code: ARTKX). The fund also holds shares in South Korean-listed memory chip and mobile device giant Samsung Electronics and Dutch chip design company NXP Semiconductors (NXPI.O).

A few software companies may also be a good choice for investors, especially if the market is once again in turmoil due to ongoing concerns about inflation and uncertainty about when the Federal Reserve will raise interest rates. Trivariate Research recently conducted a screening to find technology stocks that are less correlated with inflation trends and interest rates: software stocks such as Autodesk (ADSK.O), Atlassian (TEAM.O), Nutanix (NTNX.O), and Procore Technologies (PCOR.N) are on the list.

The good news for tech investors is that in addition to the S&P 500 giants, there are still opportunities for growth. Alex Atanasiu, portfolio manager at Glenmede Investment Management, said that if the “Big Seven” are excluded, the remaining technology stocks in the S&P 500 index are expected to still achieve profit growth of more than 10% over the next four quarters.

Atanasiu acknowledged that tech stocks are more expensive than larger markets, but indicated that his company is considering adding semiconductor stocks to its portfolio. He said that despite high valuations, the technology industry's return on equity is also significantly higher than the market average, so the overall technology sector is still attractive.