Nvidia’s forward PE ratio tumbles to lowest in eight months

By Noel Randewich

(Reuters) – Increased analysts’ estimates since Nvidia’s strong quarterly report last week have left the world’s most valuable chipmaker trading at its lowest forward earnings multiple in eight months.

Nvidia’s stock added nearly 2% to $468 on Monday, leaving it down almost 1% since last Wednesday, when the Santa Clara, California company far exceeded expectations with its quarterly revenue forecast as an artificial-intelligence boom fueled demand for its chips.

At that price,…