Nvidia briefly reached a market capitalization of $4 trillion on Wednesday, making it the first company in the world to reach the milestone and solidifying its position as one of Wall Street's most-favored stocks.

Even at record highs, Nvidia’s stock may not be as expensive as it is touted to be. Some valuation metrics suggest room for upside

NVIDIA marked a major milestone on the stock market on Wednesday. The Santa Clara-based chip maker is now the world's most valuable company. The company's stock topped $4 trillion in value. With shares rising as much as much as 2.