Nvidia's trailing P/E ratio is 53 (stock hitting a new high today). Its forward P/E ratio is 38. A year ago both its trailing and forward P/E were higher. So

Nvidia's trailing P/E ratio is 53 (stock hitting a new high today). Its forward P/E ratio is 38. A year ago both its trailing and forward P/E were higher. So the stock is relatively a bargain compared to what it was a year ago. The price implies that revenues and profits are expected to continue to grow. > My intuition is that the absence of the rapid, generationally transformative, advances in tech and industry that were largely seen in the latter half of the 20th-century (quickly followed with smartphones and social networking), stock market investors seem content to force similar patterns onto any marginally plausible narrative that can provide the same aesthetics of growth I wouldn't disagree with this.