By Sarah Min
Publication Date: 2026-04-29 16:04:00
One value investor who envied the yearslong rise of artificial intelligence darlings Microsoft and Nvidia has finally found their prices compelling enough to snap up earlier this year. He also said he will be buying any dips. Chris Grisanti, chief market strategist at MAI Capital Management, oversees the MAI Focused Equity Strategy, which has $3 billion in assets under management. This strategy, which is for separately managed accounts, is concentrated in just 21 names that are typical of a value fund. He chooses stocks that are trading below market price-earnings multiples, usually 1+ standard deviation below its P/E ratio, with solid balance sheets and dividends. This means typical value names like Verizon , UPS and Kimberly-Clark that are resilient in a downturn, and generate big dividends, but generally don’t post huge earnings growth. But in the first quarter of 2026, Grisanti said that he bought into two notable beneficiaries of the AI trade, Microsoft and Nvidia, after their weak start to the year. Nvidia is higher by more than 13% year to date, but much of those gains come from its 20% rally in April. Microsoft is down more than 12% this year, and the stock remains in a bear market. NVDA YTD mountain Nvidia shares in 2026 “As a value investor, I would love to pay a market multiple for these companies, but I never get the chance,” Grisanti said. “So, all of the sudden, because they’re temporarily out of favor, and because folks are having AI doubts about whether…
