Some investors are concerned Nvidia stock can't possibly go any higher. The evidence suggests those fears are unfounded.

Investors have found another major way to play the artificial-intelligence trend besides semiconductor stocks, and that’s led to a changing of the guard atop this year’s list of the best S&P 500 performers.

After days of exhibiting a possible turnaround an expert is warning that more losses could be in store for Nvidia stock.

Nvidia (NASDAQ: NVDA) is undoubtedly one of the hottest stocks in the market and has been for a few years now. Its position as a provider of key hardware for the artificial intelligence (AI) space has fueled quarter after quarter of triple-digit growth for its sales and earnings.

Consider this, just about nine months ago, at the end of December 2023, Nvidia stock was trading at around $50 levels.