Nvidia stock hits this bizarre valuation level

When you see the stock of the company at the epicenter of the AI boom trading at super-low valuations, it's cause to sit up in your seat. That's where I am on Nvidia (NVDA) ahead of its much-anticipated earnings report on Wednesday. Call it a state of pre-earnings shock. At less than 24 times estimated forward earnings, Nvidia is trading not far from its lowest price-to-earnings (P/E) multiple in five years. It's also well below its five-year average of roughly 38 times. And as they say in showbiz: But ...