Nvidia stock has been on a bad run but was looking to start the second quarter on a brighter note, as Wall Street analysts sounded positive about the ramp up of its Blackwell artificial-intelligence chips.

Nvidia stock was up just 0.3% at $108.70 in morning trading on Tuesday, while S&P 500 rose 0.2% and Nasdaq index advanced 0.5%. Nvidia shares slipped 1.2% on Monday, which brought its losing streak to five days.

Over the first quarter it dropped almost 20%, and it finished the day 27% lower than the all-time high it reached on Jan. 6. It was a fifth straight day of losses, the longest since January. 

There are a few things weighing on the company, none of which are closely related to actual business operations—sales are still growing rapidly. It’s more a victim of souring sentiment among big U.S. technology stocks known as the Magnificent Seven that drove the stock market higher over the past few years.

Markets are also suffering more broadly on concerns that President Donald Trump’s tariffs will hurt growth and fan inflation. There’s also a worry that the hype around AI may be a bit overblown. Nvidia isn’t the only chip stock taking a hit— Taiwan Semiconductor Manufacturing is down 16% this year, AMD is down 15%, and Arm has retreated 13%. 

The silver lining for Nvidia on Monday was that it staged a comeback in the afternoon along with the wider market—it was down 5.5% at one point.

Oppenheimer analyst Rick Schafer wrote in a research note on Tuesday that checks on Nvidia’s supply chains in Asia suggest production of its Blackwell AI chips are in “full swing” and the company is likely to ship between 30,000 and 50,000 of its NV72 liquid-cooled rack systems, with dozens of graphics-processing units networked together, this year.

“Contrary to some recent reports, those we met with see Blackwell production “kinks” in the rearview,” Schafer wrote.