Nvidia reports earnings Wednesday. One analyst says investors are hungry for a reason to jump back in, while another is feeling more cautious.

Nvidia has led the artificial intelligence boom to become one of the stock market’s biggest companies, as tech giants continue to spend heavily on the company’s chips and data centers needed to train

Nvidia had a rocky start to the year. That’s done little to dull its popularity among individual investors, many of whom are positioning for the shares to rally after Wednesday’s earnings report. The graphics-chip maker lost nearly $600 billion in market value in a single session in late January when news of a lower-cost artificial-intelligence model from Chinese company DeepSeek temporarily rattled investors’ confidence in the AI trade.

Nvidia (NVDA) is expected to release its fiscal fourth quarter earnings results at the end of the trading day on Wednesday.

Long a Wall Street favorite, Nvidia has not outperformed the broader market recently, falling 3% over the last six months, worse than the S&P 500’s 7% return.