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.

It was another up-and-down day for stocks as market participants weighed encouraging inflation data against the latest tariff headlines.

Nasdaq Composite falls deeper into correction territory, raising concerns about it sinking into a bear market.