Wall Street expects Nvidia to deliver $4.02 in earnings per share during fiscal 2026, which places its stock at a forward P/E ratio of just 28.7. From that perspective, it actually looks quite cheap!

Nvidia (NASDAQ: NVDA) CEO and founder Jensen Huang has been consistently selling some of his shares for months now. Even though Nvidia achieved several highs in the past few months, he kept selling, which may lead some people to believe that because Nvidia's insiders are selling, they know the business is at the top.

It’s Fed decision day—and it'll be difficult for the chip maker's shares to make gains until investors have more clarity about the central bank's next move.

Nvidia has been a tough act to follow in recent years. The artificial intelligence (AI) chip giant has delivered triple-digit increases in earnings quarter after quarter, and the share price has followed.

Nvidia’s stock historically has made dramatic moves in the year after initial Fed interest-rate cuts, and it has outperformed the S&P 500 on average when looking at all rate cuts since the IPO.

A rally from the “magnificent seven” tech stocks perhaps predictably fueled the rally, but this surprise name was the S&P 500’s biggest gainer Thursday.