Nvidia is still under-owned by portfolio managers even after the chipmaker’s jaw-dropping advance, setting the stage for a continued rally powered by the “fear of missing out.” The dominant maker of processors used in artificial intelligence accounts for 3% of the benchmark S & P 500 , which weighs companies by their total market value, and yet the median large-cap asset manager only keeps 2.1% of their portfolio in Nvidia, according to UBS data. Therefore, if investors start buying more Nvidia shares to merely catch up to the benchmark level, Nvidia could see added demand. Nvidia recently surged again after it posted robust earnings and forward guidance last week, pushing its year-to-date gain to nearly 60% and its market capitalization to almost $2 trillion . Nvidia was the best-performing stock in the S & P 500 all of last year, boosted by enthusiasm surrounding AI. NVDA 1Y mountain Nvidia Portfolio managers overseeing large-cap equity funds have a tendency to underweight the biggest stocks, UBS strategists said. The only top 10 stock that they’re currently overweight is Google parent Alphabet , according to UBS. Nvidia’ s fourth-quarter revenue soared 265% year over year , and it topped analysts’ highest estimates on both the top and bottom lines. Many Wall Street analysts hiked their price targets in response to apparent nonstop demand for Nvidia’s chips.