As of this writing, Nvidia (NVDA) stock is up 1.7% in intraday trading, bringing its market capitalization to $4 trillion. This makes it the most valuable company in the world, and the first company to cross the $4 trillion threshold.

A day after Nvidia set a new record by reaching a $4 trillion market cap, at least three Wall Street analysts issued new reports that rated the stock a buy, according to Bloomberg data. The bulls pointed to Nvidia’s role as the premier chipmaker and the fact that compared to its fundamentals, the stock is still trading at a fair price.

Nvidia became the first public company to reach a $4 trillion market capitalization on July 9, outpacing other well-known giants as the artificial intelligence boom fuels demand for its chips. Market capitalization,