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,

BofA analyst Vivek Arya said in a note to clients that he is focusing on Nvidia’s gross profit margins and their recovery as a key to a meaningful rebound in the stock. “Nvidia’s stock peaked last year (June) right around the time gross margins peaked around 79% in the Hopper product cycle,