Nvidia’s valuation is being cited as evidence that the broader AI stock rally is not a speculative bubble. DBS Group Chief Investment Officer Hou Wey Fook says Nvidia’s current price-to-earnings multiple, when viewed alongside expected business performance, suggests the stock is still fairly valued.
Fook points to forward-looking financial projections, including a projected surge in earnings growth for the coming year and continued strong revenue momentum tied to AI-related demand. In this view, the market’s expectations are framed as being supported by company fundamentals rather than detached from them.
Across the coverage, the emphasis is consistent: the argument rests on Nvidia’s forward valuation metrics—particularly the forward earnings multiple—and forecasted earnings growth. The outlets differ mainly in how they describe the evidence, but they all attribute the same conclusion to DBS and anchor it in Nvidia’s projected results rather than in broader market sentiment.
