As a result, Nvidia stock slid about 14% over the past month. And this has brought valuation down -- Nvidia now trades at only 24 times forward earnings estimates, it's cheapest level in more than a year.

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Depending on how you look at it, Nvidia Corp.’s stock can be seen as quite cheap, according to a Melius Research analyst. The semiconductor stock has a forward multiple of price to earnings that’s 41% below where it was the day that ChatGPT made its debut in late 2022,

Nvidia stock was sliding on Monday as investors’ recession fears overshadowed more signs that demand for the artificial-intelligence chip maker’s products remains sky-high. Shares slipped 1.9% to $110.

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