If Nvidia significantly exceeds conservative growth targets with help from Blackwell, the stock could rise despite slowing revenue growth, and the absence of a killer app for generative AI.

Nvidia, the semiconductor maker that vies with Apple and Microsoft for the title of world’s most valuable company, advanced early Tuesday after two consecutive days of declines.The shares closed lower Monday before President-elect Donald Trump said he would raise tariffs on China,

Nvidia ( NVDA 0.66%) earnings have become quite the event for investors. Given the company's growth over the past two years, observers are curious about what each quarterly result will bring. Nvidia's rise has been a significant driving force behind the growth of the broader stock market, so continued success is key for every investor.

“The mix” of Nvidia’s strong earnings beat was “more heavily skewed” toward the third quarter and therefore the company’s outlook “was only ‘in-line’ with investor expectations, which is “a deviation from prior quarters,” explained Deutsche Bank analyst Ross Seymore in a note to clients.

Nvidia reported fiscal third-quarter earnings after Wednesday's closing bell. MarketWatch will be breaking down the results.

When Nvidia lifted the hood on its first-quarter operating results in May, it reported a scorching-hot gross margin of 78.4%. The dramatic increase the company has enjoyed in its gross margin is a function of AI-GPU scarcity and its aforementioned exceptional pricing power.