Nvidia's earnings beat Wall Street's expectations last week, but that failed to translate into gains for its stock.
The chipmaking giant's forward price-to-earnings ratio has dropped to its lowest level since December 2022, according to data from Refinitiv.
Forward P/E ratios measure a company's stock price against its expected earnings over the next 12 months, helping investors to assess whether shares are over- or undervalued.
Fellow Big Tech companies Apple, Microsoft, and Google parent Alphabet also have forward P/E ratios of around 30, per Refinitiv.
But those stellar results didn't translate into significant gains for its share price – leading to its forward P/E ratio falling from 46-times expected earnings to 33-times expected earnings, according to Refinitiv.
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Wall, Silicon, Refinitiv