LATESTAS OF MAY 29, 2026

NVDA Relative Forward P/E vs SOX

Cap-weighted harmonic SOX P/E with Rasgon/Bernstein historical anchors. Snapshot as of May 29, 2026, after US market close. By Ben Pouladian, BEP Research.

Hover (or tap) the line to read any point.

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Relative Ratio

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NVDA Fwd P/E ÷ SOX Fwd P/E

Discount to SOX

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Dec 2025 was 13% · Mar 2026 trough 23%

NVDA Fwd P/E

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Price ÷ NTM EPS

SOX Fwd P/E

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Cap-weighted harmonic

How to read this chart

The line is NVDA's forward P/E divided by the SOX forward P/E (cap-weighted harmonic of the 30 SOX constituents). A reading above 1.0 means NVDA trades at a premium to the index; below 1.0 means a discount. On Dec 19, 2025, Stacy Rasgon (Bernstein) flagged 0.87x as a 13% discount — only 13 days in ten years had been cheaper. The March 27, 2026 trough at 0.77x broke below all of them.

Data source: Yahoo Finance via yfinance, with manual overrides on top SOX weights when issuer data is more reliable. Historical anchors are reconstructed from the Rasgon/Bernstein Dec 2025 chart. This is research commentary, not investment advice.