Nvidia Is the Cheapest It's Been Since 2019. Why Investors Should Load Up Now.
Yahoo Finance ·
Nvidia ( NVDA +2.51% ) has shed an astounding $800 billion in market cap since it hit its all-time high in mid-May. The company, while still worth close to $5 trillion , is back down to valuation levels relative to trailing earnings that it hasn't seen since 2019. At one point during the decline, Nvidia was trading at about 18 times forward earnings, but the price has rebounded slightly since then. As of the close Thursday, its forward P/E was 22.6 -- unusually cheap for the chipmaker. Investors should take advantage of the dip. The sell-off more closely resembles a sector rotation than a red-flag warning about Nvidia's business, as other semiconductor companies also were hit hard recently.
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