You are assuming that Nvidia remains status quo moving forward which is quite unlikely. Nvidia would logically respond and adapt to any change in the compeition to remain competitive.
$Advanced Micro Devices(AMD)$ I've never really understood why when a company beats estimates, we say the company did a good job and vice versa. When a weather forecaster correctly predicts rain, we dont say good job to Earth for making it rain, we say good job to the forecaster for accurately forecasting the weather. On this note, why then are people bearish on a company if its revenue did not meet estimates? Shouldn't it be based on the company's current and future performance?