However, in addition to its prospects above, Nvidia stock is also surprisingly cheap after the recent pullback. It now trades at a forward price-to-earnings (P/E) ratio of just 24, which is comparable to the S&P 500 's forward P/E of 20.7.

Nvidia (NASDAQ:NVDA) has delivered massive gains for most investors who have held this stock for any meaningful period of time. This is a stock that's up an incredible 1,819% over the past five years,