Nvidia stock has rebounded from its lows earlier this year, and expectations are mighty high as earnings come into view. While competition is rising, Nvidia remains well positioned to capitalize on a number of emerging infrastructure opportunities.

Shares of leading designer of graphics chips Nvidia (NASDAQ:NVDA) fell 3.5% in the afternoon session after investors took some profits off the table as markets awaited signals on future monetary policy from the Federal Reserve's Jackson Hole symposium later in the week.