Why investing is hard: NVDA PEG 0.50, WMT PEG 4.5. Same PE.

Both NVDA and WMT trade at around 47x trailing PE. NVDA forward growth is expected to be 60%, give or take. WMT, 5-8%. Which bet is less risky? High multiple for low, but high probability, growth OR high multiple for high, but uncertain, growth? There is no right answer. It is about the risk you as an investor prefer to take. Maybe you walk away from both. Let's assume the PE for both gets cut in half but the estimates are correct. NVDA would trades at 20x $7.50 EPS = $150, a 28% decline. WMT would trade at 20x $3 EPS = $60, a 55% decline. You might say the multiples are unlikely to contract like that if the earnings deliver. Is there really no scenario in which the PE contracts but the earnings deliver? Once again, there is no right answer but it is quite the stark difference in the perceived value of a $1 of earnings growth.