Nvidia (NASDAQ: NVDA) shares fell 3.5% on Tuesday, closing at $175.64, as tech stocks broadly pulled back following a recent rally. The chipmaker traded 183 million shares, just above its three-month average of 181 million, signaling a cooling of momentum after reaching record highs earlier this month.

When Nvidia, the chip producer, reports earnings next week, investors expect the S&P 500 to have a bigger reaction than when the Fed chair delivers a big speech on Friday.

Insatiable” AI demand and revenue opportunities from China are leading analysts to raise their price targets as Nvidia prepares to report earnings.