Or, since the stock market is an emotional game (hear me out): Apple hasn't announced anything in the past year which caused comparable excitement and resulted in (further) overvaluation of their company like it happened on Microsoft, nVidia, etc.

Now, after a few months (!), reality sets in and those hyped-up investors realize that it's not as much of a short-term game as they told themselves it would be...

Apple has a p/e of 38, Nvidia is 46, Microsoft is 34. S&P has historically averaged around 20, so on that metric Apple and Nvidia are more similar than different.