Nvidia stock is poised in the low $180s heading into earnings on Wednesday. Wall Street expects $1.01 in adjusted earnings per share (EPS) on revenue of $46.12 billion. A major beat should place $200 in the cards for bulls, which is well below some of the analyst price targets.

Now, Wall Street is bracing for Nvidia earnings, which land Wednesday after the bell. Expectations for its results are sky-high, with the company's stock up almost 34% so far this year, even as restrictions on chip sales to China have possibly cost the company billions.