However, in addition to its prospects above, Nvidia stock is also surprisingly cheap after the recent pullback. It now trades at a forward price-to-earnings (P/E) ratio of just 24, which is comparable to the S&P 500 's forward P/E of 20.7.

Investors on the hunt for bargains in the current market selloff might want to consider chipmaker Nvidia (NVDA). Light Up your Portfolio with

The chip maker is currently trading at 23.3 times earnings expected over the next 12 months, which is below its five-year historic average of 40 times.

Artificial intelligence (AI) stocks scored massive wins for investors last year and led the Nasdaq to a double-digit gain. This momentum continued into the early days of 2025, but in recent weeks, these once top-performing stocks have struggled.