There is a hype cycle and there is a stock price cycle.
But note that for the former it is mostly subjective, for the latter objective.
I like facts, price of a stock tells you more than any other single fact.
Especially since professional analysts are judged on a monthly or quarterly basis not a 4 or 5 year basis, that can give you an advantage.
Is the hype about AI true? That depends on which hype you believe and the unknown future. If AI is only 20% of present computing ,AI stocks are underpriced. It wouldn’t take a 10 bagger to make me happy, I would be delighted with a 3 or 4 bagger. Or even a one bagger from where NVDA is now.
Years ago who would have thunk Apple, a maker of supposedly commodity devices, would be a $880 billion company?
And is there a better AI candidate than NVDA ? Because I have been looking hard to find any to little avail.