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Anyone who has traded Nvidia (NVDA) stock in the past knows it goes hand in hand with the word “overvalued.” Every time someone talks about buying the stock, the obvious answer is that it is overvalued. For a company that has achieved so much over the past decade, expecting it to be undervalued is futile. Yet this is precisely what’s happening right now, according to Bernstein analyst Stacy Rasgon.
Rasgon has argued that Nvidia is trading at a discount considering its historical valuations and AI investments. Despite upward earnings revisions, the stock returns have stayed muted, suggesting the upside is yet to come. Whenever investors have taken entry at such discounted levels, they have done extremely well over the next year, making 2026 an interesting year for fresh Nvidia investors.
