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The point is, it should not be taken for granted that NVDA is overvalued. Their P/E is low enough that if you’re going to state that they are overvalued you have to make the case. The article while well written, fails to make the case because it has a flaw: it assumes that addressing just one of Nvidia’s advantages is enough to make it crash and that’s just not true.

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If investing were as simple as looking at the P/E, all P/Es would already be at 15-20, wouldn't they?

Not saying it is as simple as looking at P/E

My point is that you have to make the case for anything being over/undervalued. The null hypothesis is that the market has correctly valued it, after all.

In the long run, probably yes, but a particular stock is less likely to be accurately value in the short run.

If medium to long term you believe the space will eventually get commoditized I the bear case is obvious. And based on history there's a pretty high likelihood for that to happen.

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