That's incorrect. NVDA's stock price is based on its reported earnings and expected growth of said earnings. Furthermore, those who bought in during the initial AI hype were actually proven right fundamentally, and have seen their ttm net income per share jump from below 1% to over 10% of the price they paid in just 2 years. To say the fundamentals don't matter is a severe misunderstanding of the equities market.
You are talking about prices by themselves without understanding any other variable, without acknowledging anything I said, without reading the blog post. You are making it obvious that terms like "ttm net income per share" are magical spells to you. It's this unwillingness to educate yourself that causes the market to be a complete mystery and ponzi scheme to you. The problem with NVDA is that its reported earnings are not being returned to shareholders, not that its price is seperate from its fundamentals.
In November, a Conference Board survey found that 56.4% of U.S. consumers expect the stock market to rise over the next year, the highest reading on record. That may sound like good news, but Morgan Stanley sees it as a contrarian indicator signaling irrational optimism at a time when valuations are stretched.
why dont you try doing your own research. you would at least be able to say something knowledgable like the fact that the price of the snp500 is more than all the money that exists rather than insulting my intelligence with some propaganda from motley fool and morgan stanley about a public opinion survey as if thats some sort of basis for fundamental investment
It's the crypto phenomenon/mania.