Nvidia's (NASDAQ: NVDA) stock has been red hot for over a year now. Up an incredible 239% in 2023, it has continued to climb more than 45% so far in 2024 already. Investors aren't averse to paying a high premium for the stock given the potential that the company possesses.

For long-term investors, it's hard not to like Nvidia's growth prospects. Artificial intelligence (AI) is a huge opportunity for the business and its chips, which could prove to be essential for companies developing their own AI models and chatbots.

But there's a big concern that I see as the stock continues to rise, and one that could derail its progress: The expectations may be far too high.

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Source Fool.com