There’s certainly plenty of reasons to believe Nvidia (NASDAQ:NVDA) stock is overextended right now. Traditional valuation metrics are just about as high as they’ve ever been for the chip giant. Its price-earnings ratio sits above 90 currently, worse than roughly 83% of industry peers. But guess what? It doesn’t matter long term because there’s many more reasons to believe it’ll rise. There may be a temporary cooling period, but company prospects are as bright as ever. There was very little bad that could possibly be said about Nvidia’s Q1 results.