I Have Been Waiting Patiently For This Q3 Selloff

Nvidia shares have fallen to the lowest forward multiple level since 2019 even as the company continues to show robust earnings growth and maintains dominant AI positioning. The article argues AI sector fears are overstated because compute demand remains significantly underfunded, suggesting the growth cycle is not yet ending. Overall, the setup reflects valuation-driven caution rather than fundamental deterioration.

Analysis

Nvidia shares have fallen to the lowest forward multiple level since 2019 even as the company continues to show robust earnings growth and maintains dominant AI positioning. The article argues AI sector fears are overstated because compute demand remains significantly underfunded, suggesting the growth cycle is not yet ending. Overall, the setup reflects valuation-driven caution rather than fundamental deterioration.