Nvidia (NVDA) Stock Price Lags Massive Earnings Growth—A Compelling Value Opportunity

Munro Partners, an investment management firm, issued its third-quarter 2026 commentary for the "Munro Global Growth Fund". The letter can be downloaded here. The Munro Global Growth Fund experienced a -12.6% net return for the quarter, trailing the MAET.ASX return of -13.8%. Key performance detractors were long holdings, while hedging and currency also marginally detracted from performance. The Fund faced challenges from a mixed global equity market characterized by a selloff in AI supply chain stocks and political sentiment ahead of the US mid-term elections. Despite a modest recovery in September, Asian indices suffered the most. Bond yields increased, yet US equity indices reacted mildly.