The chip maker is currently trading at 23.3 times earnings expected over the next 12 months, which is below its five-year historic average of 40 times.

However, in addition to its prospects above, Nvidia stock is also surprisingly cheap after the recent pullback. It now trades at a forward price-to-earnings (P/E) ratio of just 24, which is comparable to the S&P 500 's forward P/E of 20.7.

NVIDIA is a fundamental performer in AI technology and innovation. Investors should closely examine its stock trends due to its impactful technologies and strong market interest. Experts are optimistic about NVIDIA's innovative solutions and solid financial performance,

Nvidia Corp.’s market performance over the past six months is a good illustration of the difference between a good company and a good stock.

Nvidia (NASDAQ: NVDA) stock has been a fantastic medium- and long-term winner and even a winner over the last year. But shares of the artificial intelligence (AI) chip and technology leader have been having a tough time recently.

CompanyOverview|NASDAQ:NVDA] Headwinds aside, the outlook for NVIDIA's (NASDAQ: NVDA) growth and long-term profitability is undeniable. AI is driving results; the company is expanding into new verticals and is forecasted to grow at a double-digit pace for at least the next ten years.