Nvidia Stock Just Did Something for the First Time in a Decade. Is This the Buying Opportunity of a Lifetime?

By Bram Berkowitz – Mar 30, 2026 at 9:57AM ESTKey PointsNvidia's valuation recently fell in line with the broader benchmark S&P 500 Index.Despite the business performing well, investor concerns about the artificial intelligence ecosystem have hurt the stock.Nvidia's CEO Jensen Huang has arguably never been more bullish.The artificial intelligence chip giant Nvidia (NVDA +0.27%) has struggled this year, with the stock down over 11%. That's despite strong quarterly results and forward guidance above Wall Street consensus estimates. At a company conference earlier this year, Nvidia CEO Jensen Huang said he expects $1 trillion in sales of its current Blackwell platform and the soon-to-be-launched Vera Rubin platform between this year and 2027. Image source: Nvidia. Yet nothing has impressed the market. In fact, Nvidia's forward price-to-earnings (P/E) ratio has recently fallen to match that of the broader benchmark S&P 500 Index for the first time in over a decade. Nvidia recently traded at slightly above 20 times forward earnings. That's despite growing revenue at 73% year over year, while net income surged 79%, which is impressive for any company, let alone one of its size. Is this the buying opportunity of a lifetime? What has stopped Nvidia? In general, AI stocks have struggled, as investors have grown weary of the incredible investments by hyperscalers to fund the build-out of AI infrastructure. The "Magnificent Seven" are collectively on pace to spend close to $700 billion in capital expenditures this year, largely on AI infrastructure such as data centers. Now, Nvidia itself is not a big spender on capex, but it depends on this build-out because the company sells its chips and platforms to companies to put in their data centers, which help train large language models and run AI solutions. The bears are worried that the hyperscalers cannot generate good returns at this intense level of spending, which is eventually poised to dry up as well. Investors have also been concerned about circular financing at Nvidia because the company invests in some of its major customers, such as OpenAI and Coreweave. Still, Nvidia rarely misses earnings targets, so there's no real reason to doubt Huang's $1 trillion guidance. Huang also said it will soon restart chip sales to businesses in China, a part of the business that has been dead for several quarters, due to geopolitical issues, but historically was a material contributor to revenue. Trading at a $4 trillion market cap, I wouldn't call this the buying opportunity of a lifetime, but it's likely the best opportunity shareholders have had to buy Nvidia stock in several years.Read NextMar 30, 2026 •By Neil PatelMarket Timing Is Overrated: Here's WhyMar 30, 2026 •By Sean WilliamsDon't Look Now, but the Federal Reserve's March Inflation Forecast Just WorsenedMar 29, 2026 •By Adam SpataccoForget Tariffs: The Iran War Is the Biggest Threat to Your Portfolio Right NowMar 29, 2026 •By Adria CiminoWhy Buying the Market Dip Right Now Could Be the Best Financial Decision of 2026Mar 29, 2026 •By Sean WilliamsThe S&P 500 Has Completed This Rare Feat 4 Times in 76 Years, and History Couldn't Be Clearer About What Comes Next for StocksMar 29, 2026 •By Sean WilliamsPrediction: The Trump Bull Market Is Coming to an End, and This Historically Flawless Forecasting Tool Will Be Correct, Yet AgainAbout the AuthorBram Berkowitz is a contributing Motley Fool stock market analyst covering financials, technology, consumer goods, and macroeconomic trends.

Before The Motley Fool, Bram worked in equity research covering bank stocks and as a reporter for local publications. He holds FINRA Series 7 and 66 licenses, as well as a bachelor’s degree in business with a minor in economics from Syracuse University.TMFBramX@BramBerkoStocks MentionedS&P 500 IndexSNPINDEX: ^GSPC$6,402.06(+0.52%)+$33.21NvidiaNASDAQ: NVDA$167.64(+0.07%)+$0.12CoreWeaveNASDAQ: CRWV$70.12(-6.27%)-$4.69*Average returns of all recommendations since inception. Cost basis and return based on previous market day close.