Nvidia Valuation Dips to Pre-AI Boom Levels Amid Solid Growth Outlook
Nvidia stock trades around 18x forward earnings, a multiple not seen since before the AI boom, with Bloomberg data showing the valuation sits below the S&P 500 and Nasdaq 100 forwards and below many peers despite expected revenue growth; the shares have fallen roughly 15% from the May peak, wiping about $1 trillion off market value, even as analysts foresee strong growth this year. The stock has gained about 5.6% in 2026 after a massive run from 2022–2025, while the Philadelphia Semiconductor Index has surged about 74% this year led by Micron and other peers.
