Nvidia stock was on track Friday to notch one of its best weeks of the year and recover most of its losses from previous weeks as investors heeded analysts' recommendations and bought the dip.

Nvidia shares have declined 2% since the company completed a 10-for-1 stock split in June. Historically, Nvidia shares have plunged 23% on average during the 12-month period following a stock split. Wall Street analysts forecast Nvidia's adjusted earnings will grow at 35% annually through fiscal 2027.

The chip maker's shares have rallied this week after Oracle's strong earnings and bullish comments from CEO Jensen Huang eased investors' worries about AI demand.