1. JPMorgan's Q3 earnings exceeded expectations with significant beats in key metrics like net revenue, net interest income, and EPS, leading to a 4.44% stock price increase. 2. Year-over-year, NII growth was modest at 3%, and net income decreased by -1%. However, non-interest revenue saw a strong 12% growth. 3. Despite the CEO's belief that the stock multiple is inflated, the author believes it is fairly valued and justifies a buy rating due to the bank's strong positioning.