Since Nvidia's last earnings report, the stock is up nearly 19%, capping off a stunning run that has seen the share price rise eightfold since ChatGPT was released in late 2022. Alongside the stock's rise has been a fierce increase in sales and margin, and its forward price to earnings ratio has expanded to just under 50, according to FactSet.
Growth is slowing, but that is partially because Nvidia's top line is so much larger than before. Nvidia reported 122% growth in sales in the most-recent quarter. That was lower than the 262% year-over-year growth it reported in the April quarter and the 265% growth in the January quarter.