When Nvidia announced a record stock buyback on Monday, the chipmaker's share price was, by one key metric, at its cheapest level in a decade. CEO Jensen Huang saw it as a bargain. Nvidia's price-to-earnings ratio for fiscal 2028, which begins this coming February, sits at just 14.5, below all of its megacap peers other than Micron . Its average current P/E ratio over the past five years is 62.9, more than double where it is today. The constricted multiples for the world's most valuable company, now valued at over $5.5 trillion, reflect the sustained historic rate of profitability growth for the chipmaker powering the artificial intelligence boom.
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