Nvidia Stock-Price Correction Has Shares Cheaper Than Pre-ChatGPT Launch
- Nvidia’s price-to-earnings ratio is now lower than when ChatGPT launched in 2022.
- The decline comes amid a broad decline in semiconductor stocks. Nvidia shares are down 30% from their 52-week high.
- Melius Research remains optimistic on Nvidia ahead of its conference next week.
A closely watched valuation indicator for Nvidia has fallen to levels not seen since before the launch of ChatGPT.
Nvidia’s trailing 12-month price-to-earnings ratio dropped to 36.4 times on Monday, according to data from YCharts. The decline has been driven by a sharp price decline in Nvidia’s stock, which finished Monday down 30% from its intraday record high reached in early January.
The valuation multiple decline…
