Wall Street is eyeing the highly anticipated release of Nvidia's (NVDA) fiscal third quarter earnings report after Wednesday's market close.

Crescent Grove Advisors co-chief investment officer Andrew Krei tells Brad Smith on Wealth! that this report will be a "lens into the health of the AI trend," adding, "And I think the bar has been set incredibly high."

Krei notes that the most important aspect of Nvidia's financial results will be for investors to see the trajectory for continued top-line growth and determine whether the semiconductor giant can support its valuation. "It's going to be critical, I think, to understand what that path forward looks like," he states.

"People get so enthusiastic about the trajectory of these new technologies," Krei tells Yahoo Finance. Though he cautions: "From our perspective, we think we've gone maybe a little bit too far, and we're at least at risk of seeing some sort of reset from a valuation perspective."

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This post was written by Angel Smith