Nvidia hit a record again after months.

The stock reached a new all-time high. It’s the first time it’s hit a peak like this in quite a while.

Analysts point to two things. Its valuation is still cheap for what the company does, and its role in artificial intelligence remains central.

That’s it. No strange twists.

What stands out is that the market hasn’t treated it as an expensive stock, even at record highs.

Are you surprised it’s still trading at low multiples?

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