The S&P 500 slipped 0.4% and is on track for a third straight modest loss after setting its all-time high last week. The Dow Jones Industrial Average was up 8 points, or less than 0.1%, as of 11:50 a.m. Eastern time, and the Nasdaq composite was down 1%.

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

Still, the long-term bullish case for Nvidia remains intact, according to analysts. Morgan Stanley 's analytical team raised its price target to $206, up from $200. Meanwhile, Piper Sandler also increased its price target to $225,