Nvidia (NASDAQ: NVDA) stock is heading lower in Tuesday's trading. The company's share price was down 1% as of 1 p.m. ET against the backdrop of a 0.5% decline for the S&P 500 index and a 1.1% decline for the Nasdaq Composite index.

Nvidia has grown into the 2nd largest company on Wall Street, so the stock’s movement carries more weight on the S&P 500 than every company except Apple.

Nvidia Corp.’s stock still looks good to many Wall Street analysts ahead of the artificial-intelligence chip maker’s earnings Wednesday, even though the company isn’t expected to report the same level of revenue beat as it has done in the past few quarters.