Nvidia (NASDAQ: NVDA) stock has delivered blistering gains since early last year, but it's been a wild ride. After surging 828%, the artificial intelligence (AI) chipmaker shed 27% of its value, though it's now down about 20%.

Expectations were high going into Nvidia's second-quarter financial report. While the results were better than expected, they weren't enough to support the recent run-up. One Wall Street analyst believes the decline represents a compelling opportunity.

In the wake of Nvidia's financial report, Cantor Fitzgerald analyst C.J. Muse reiterated his buy rating and $175 price target on Nvidia stock, which represents potential gains for investors of 62%, compared to Tuesday's closing price. Despite the stock's recent weakness, the analyst called Nvidia's results "solid."

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Source Fool.com