The Magnificent Seven got whacked in the tariff-triggered selloff—but they’re still not great values. There are cheaper tech stocks out there right now for the buy-and-hold ‘em crowd.

Big Tech’s darlings—Apple, Microsoft, Alphabet, Amazon, Nvidia, Meta Platforms, and Tesla—trade at a steep premium to the S&P 500’s multiple of 20.

That, along with another gauge, has analysts at Trivariate Research not all that pumped about the Mag Seven.

Trivariate’s team thinks the stocks won’t perform as well as the Nasdaq based on free cash flow yield, which measures free cash flow by its market valuation.

Their valuations based on price-to-earnings ratios have dropped, but the analysts don’t expect free cash flow yield to improve that much—at least not anytime soon—because the companies expect to invest huge sums in artificial intelligence.

“The challenge is that…the Mag 7 isn’t particularly attractive,” the team wrote.

Still, the Trivariate team said there are stocks out there—even in the tech sector—that are buys because of higher free cash flow yields relative to their histories. Shopify, PayPal, Datadog, HubSpot, Reddit, Pinterest, and Okta made the list.

The analysts said they like financials and healthcare stocks, too. The median free cash flow yield for healthcare stocks, for example, is twice that of the Mag Seven’s median.

The healthcare and financial names are IQVIA, a clinical research services firm; medical device maker Insulet; and KKR and Ares Management, both investment firms.

Others also think investors should be still looking for stocks in more value-oriented sectors instead of the Mag Seven.

One is Will McGough, deputy chief investment officer with Prime Capital Financial. He told Barron’s that he expects the big techs to remain volatile for the foreseeable future.

McGough prefers less risky stocks like Procter & Gamble and Walmart and thinks that the rally in European stocks that has taken hold this year may only just be beginning.

The Vanguard FTSE Europe ETF, which has big holdings in Novo Nordisk, Nestlé, and Roche Holding could make sense. The ETF also has big stakes in SAP and ASML Holding.

So it looks like European techs, which trade at discounts to many of their Mag Seven counterparts, could be a better bet as well.

Don’t think, though, that everyone is down on the Mag Seven.

The stocks still have a lot of fans, including Christopher Lange of brokerage firm Cache.

Lange, who is Cache’s head of investments, likes that the stocks are now a bit cheaper. The Roundhill Magnificent Seven exchange-traded fund trades at 26 times earnings estimates for this year, a discount to its 5-year average forward P/E of about 33.

And if the stocks pull back more, they’ll be even more attractive.

Lange is bullish on the overall group—even though he wouldn’t be surprised if the stocks have wild swings for a while

“It may be a fool’s errand to try and predict what can happen in the short-term. But all seven have world-class brands,” Lange told Barron’s. “The group will be volatile, but all will be resilient.”