Not achieving those results does not imply that results are going downhill from now, as you suggest.

Slowing growth and cooling margins are reasonable explanations for the stock being down even in light of continued growth.

If the market believed that demand had indeed peaked this quarter as you suggest, the stock would absolutely crater.

But nobody reasonable believes that. All the data from outside Nvidia (eg: Capex from hyperscalers) also points to continued growth.