It is very hard to have a discussion about under vs. overvalued, because it is all predicated on guesses of future performance if you are not stripping a compan

It is very hard to have a discussion about under vs. overvalued, because it is all predicated on guesses of future performance if you are not stripping a company for its components in the short term. To try to play the anti-nvidia side, they are in a very good position now, but at 65 P/E where do they grow beyond the current frothy expectations so new investors can see stock price appreciation? Especially with companies seeing the profits desiring to compete. With AMD, you can see past performance with higher earnings and be optimistic that they can hit past earnings bringing the P/E ratio into alignment. That's the bear perspective.