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Nvidia Plunges $1 Trillion in Market Cap Since May, Now Trades Cheaper Than S&P 500

GateNews
US500-0.93%
According to Bloomberg data, Nvidia's market value has declined approximately $1 trillion over the past two months, with stock price falling 16% from its May 14 all-time high. The chip giant's forward price-to-earnings ratio now stands at 18x, the lowest level since early 2019—below the S&P 500's 20x+ and Nasdaq-100's 23x valuations. Despite the correction, 78 of 82 analysts tracking the stock maintain buy ratings with an average target price of $302, implying over 50% upside over the next 12 months. Analysts note that Nvidia retains 97% market share in AI server GPUs, and recent earnings forecasts for fiscal 2027 have been raised 13%, suggesting market confidence in the company's fundamentals remains intact.
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