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's share price could be on the verge of a rebound, with technical indicators signaling a potential turnaround.

The chip maker’s stock plunged after reports about the Chinese artificial-intelligence model raised fears about spending on AI infrastructure.

Nvidia (NASDAQ: NVDA) stock has been a fantastic medium- and long-term winner and even a winner over the last year. But shares of the artificial intelligence (AI) chip and technology leader have been having a tough time recently.

What Happened? Shares of leading designer of graphics chips Nvidia (NASDAQ:NVDA) jumped 6.9% in the morning session as markets experienced a boost after data from the Bureau of Labor Statistics revealed that inflation for the month of February 2025 came in better than expected.