From Nasdaq: 2024-11-02 11:05:00

Nvidia (NASDAQ: NVDA) has experienced significant growth this year, with shares up around 180%. The company’s sales and earnings have been expanding rapidly, leading to a price-to-earnings multiple of 66. Despite concerns about valuation, Nvidia’s PEG ratio of 0.36 suggests it may still be undervalued.

With a 205% increase in revenue and 285% rise in earnings per share year over year, Nvidia’s growth justifies its valuation. The launch of its Blackwell processors later this year could provide another boost. While growth will eventually slow, Nvidia’s leadership and momentum indicate further potential.

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Read more at Nasdaq: Think Nvidia Stock Is Expensive? This Chart Might Change Your Mind