Nvidia's Valuation Just Hit Lows Not Seen Since 2019, Even as Its Profits Doubled

Nvidia reported record Q2 fiscal 2027 results with $96.2 billion in revenue (up 106% YoY) and adjusted EPS of $2.22 (up 120% YoY), exceeding analyst expectations. Despite doubling profits, the stock's valuation fell to levels unseen since early 2019 at less than 27x earnings. The company announced a major expansion of its partnership with Amazon Web Services, which plans to deploy over 3 million Nvidia GPUs. Management forecasts continued acceleration with Q3 revenue guidance of $108 billion (89% YoY growth).