NVIDIA loses almost $1 trillion in under 2 months
NVIDIA's market value has taken a major hit, dropping by almost $1 trillion in less than two months.
The stock's valuation (forward P/E) is now at its cheapest since early 2019 and is trading cheaper than big indexes like the S&P 500 and Nasdaq-100.
This comes after a 16% fall since May, as investors have started paying more attention to other chipmakers, especially those focused on memory and storage.
Analysts expect strong NVIDIA revenue growth
Even with the recent dip, analysts still expect NVIDIA to post some of the fastest revenue growth in the S&P 500 this year.
Profit forecasts for upcoming quarters are actually up, thanks to NVIDIA's strong position in AI data centers.
Some investors are already betting on a comeback soon, so while things look rough now, the company isn't out of the game.