"If you look at AI stocks or Nvidia in particular … Nvidia's a phenomenal company, massive revenue growth, massive earnings growth, but there's a question — how wonderful are they?
Miller said Nvidia is inherently different from companies such as Microsoft and Apple, which he thinks are worth their $2 billion valuations.
Nvidia shares more than tripled in 2023 as investors flocked into the AI darling.
Metallurgical coal companies are trading very cheaply alongside their thermal coal peers since investors are "throwing the baby out with the bathwater," Miller said.
"There's going to be more metallurgical coal used over the next three to five years, but there's no new supply coming online."
Persons:
David Miller, Miller, haven't, there's, Morningstar
Organizations:
Nvidia, Catalyst Funds, CNBC, Microsoft, Apple, Alpha Metallurgical Resources, Metallurgical
Locations:
U.S