Nvidia ( NVDA 0.53%) is one of the hottest stocks on the market today. Over the past five years, Nvidia shares have soared in value by nearly 1,500%, including another 20% in the last 12 months. Think the run is over? Think again. Nvidia stock remains far cheaper than most investors realize due to one critical factor.

The stunning rise of Nvidia Corp to become the first publicly traded company valued at $4 trillion underscores the massive importance to the stock market of the AI chipmaker and the technology sector.

Nvidia stock is up more than 50% over the past three months, leading the broader market rebound after the tariff selloff.

The accomplishment is even more impressive considering it has been just two years since Nvidia passed $1 trillion in market cap. Apple and Amazon reached $1 trillion in 2018 and Microsoft followed suit in 2019.

Many investors may wonder if shares have gotten too expensive to buy. Don't be fooled: Nvidia stock is still reasonably priced. Get the story here.

The chip maker’s shares have been rallying since late April, putting its valuation on the brink of an all-time high.

Nvidia stock has regained its momentum in recent months and should be able to sustain it in the long run as well. Nvidia's market share and the potential data center revenue growth that it could clock should help double its market cap in the next three years.