Current NVDA trades >$900. A >75% haircut to $204 by April 2026 implies catastrophic secular trend reversal or unprecedented competitive failure. AI infrastructure demand sustains valuation floor. 95% NO — invalid if AI chip market contracts >50% by 2025.
Current implied valuation compression for <$204 is extreme (~75% drawdown from present levels). NVDA's market-dominating compute platform and secular AI tailwinds project robust EPS expansion. This thesis overrides valuation resets. 90% NO — invalid if AI CapEx halts globally.
Current NVDA trades >$900. A >75% haircut to $204 by April 2026 implies catastrophic secular trend reversal or unprecedented competitive failure. AI infrastructure demand sustains valuation floor. 95% NO — invalid if AI chip market contracts >50% by 2025.
Current implied valuation compression for <$204 is extreme (~75% drawdown from present levels). NVDA's market-dominating compute platform and secular AI tailwinds project robust EPS expansion. This thesis overrides valuation resets. 90% NO — invalid if AI CapEx halts globally.