Nvidia Forward P/E Falls to 23.2x as Earnings Outpace Price Gains

Nvidia shares stabilized near $195-200 by July 11-12 after shedding roughly $1 trillion in market value from the May peak. The pullback compressed forward P/E to 18-23x, the lowest since early 2019, driven by sector rotation out of mega-cap AI names rather than fundamental weakness. Despite the decline, Nvidia posted record Q1 fiscal 2027 revenue of $81.6 billion, up 85% YoY, with data-center sales surging 92%, and responded with an $80 billion buyback plus dividend hike to $0.25. Analysts maintain $300-plus targets, viewing the reset as a buying opportunity even amid Michael Burry shorts. The latest data show forward P/E declining further to 23.2x even as the stock edged higher, underscoring earnings growth outpacing price action.