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.

Artificial intelligence-linked shares fell on Tuesday, in lead-up to AI bellwether Nvidia's quarterly earnings, which could offer clarity on demand and justify the sector's lofty valuations.

U.S. stocks have lagged their European peers this year, amid fading megacap tech gains, tariff uncertainty and renewed inflation risks, but many on Wall Street see a comeback for American markets over the coming months.