The chip company is waiting to sell its H20 chips in China again, which a Mizuho analyst said will help the case for its earnings per share to reach $7 next fiscal year.

On Aug. 27, Nvidia is set to report its fiscal second-quarter earnings. Only time will tell what those earnings reveal, but it's natural for investors to wonder if they should buy Nvidia's stock before the earnings to potentially take advantage of a post-earnings stock price boost.

Nvidia stock is set to be driven by investment in artificial-intelligence infrastructure from Microsoft and Meta but it also needs to fend off rivals.