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.

For the first time since 2022, Nvidia stock is falling in the weeks leading up to the chip giant's earnings report. Since the end of last quarter, Nvidia stock has dropped 5.7%, including a 2.8% decline Tuesday.

The most anticipated report of the earnings season is just hours away, with Nvidia posting its fiscal fourth-quarter results after the market close on Wednesday. Here are the five things to focus on a