How far into the future is the typical stock “priced in” based on earnings estimates?

For example, Nvidia is currently forecasted by dozens of analysts at consensus to have an EPS of over $5/share next year. At a current P/E ratio of average of near 40, that puts Nvidia stock price at $200/share+ based on next years earnings. Nvidia is currently trading at a P/E ratio of near 40, but its stock price is $108.
This means that next years earnings estimates aren't priced in yet. When will these estimates get priced in? How forward looking is the stock market in general? 3 months? 6 months? Because obviously it's not looking past a year.