Nvidia was gaining early Thursday amid signs of robust demand for artificial-intelligence chips from the wider market.Nvidia shares were up 1.7% at $148.77 in morning trading. The stock fell 1.4% on Wednesday.

"Even with a decelerating growth rate on huge numbers, Nvidia's CY2025 PEG ratio stands at about 0.8x on our estimates. This ratio is 33% less than Broadcom's and the lowest in the Mag 7 by a wide margin," Reitzes said. Nvidia stock is up 197% year-to-date and trading about 2% below its record high of $149.77 per share.

Nvidia reports its much-awaited third-quarter results next Wednesday after the market close. Shares are in a buy zone. Technically, that makes Nvidia stock a buy. But investors who follow the IBD Methodology and realize there's earnings risk are wondering,

At least five research firms raised their price targets on Nvidia stock on Thursday ahead of the AI chipmaker's fiscal Q3 earnings report.