Investors were not impressed by Nvidia's quarterly performance and outlook even though it handily beat Wall Street's expectations thanks to the booming demand for its artificial intelligence (AI) chips.

Nvidia (NASDAQ: NVDA) has become the second-largest company in the world, with a market capitalization of $3.3 trillion as of this writing. The semiconductor giant's impressive rise can be justified by the phenomenal increase in its revenue and earnings over the past couple of years,

Nvidia Corporation (NASDAQ:NVDA) has consistently defied skeptics, surpassing revenue expectations and expanding margins amid an AI-driven surge

Nvidia (NVDA) has solidified its position as a leader in the technology industry, especially within the semiconductor space. No other semiconductor company has experienced growth as explosive as Nvidia’s.

The cyclical nature of chip stocks could affect Nvidia stock in the near term. Unfortunately for investors who want to buy Nvidia shares, its success has made determining whether it is a buy now a more difficult problem.