Nvidia Stock Hasn’t Been This Cheap in 7 Years. Only 1 Explanation Makes Sense.
In early 2024, the man known as the “Dean of Valuation” viewed Nvidia (NASDAQ:NVDA) as ridiculously overpriced. New York University finance professor and author Aswath Damodaran posted on X (the social media platform formerly known as Twitter) that the stock “is a bridge too far for me.” He slashed his Nvidia position by half.
Since then, Nvidia has become the world’s largest company by market cap. Its share price has nearly tripled. You might think that the chipmaker’s valuation would be even more concerning now than it was in 2024. However, an interesting thing has happened with Nvidia along the way. Believe it or not, the stock hasn’t been this cheap in seven years — and only one explanation makes sense.
Image source: Nvidia. Image source: Nvidia.
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