While many analysts still count Nvidia as a top tech pick, they're also cautious on overhangs related to China restrictions and tariffs.

Over the past couple of months, one particular element has guided stock market movement, and that's President Trump's import tariff plan. Trump set out a broad framework early last month, including double-digit tariffs on countries worldwide and a tariff on China that reached 145%,

Nvidia investors will look for definitive answers on how much U.S. chip curbs on China will cost the company when it reports results on Wednesday, even as a pullback in other regulations is expected to open up new markets.