Nvidia shares edged lower in early Monday trading, but are still on pace to add more than $350 billion in value this month, as two top Wall Street analysts issued new price target updates ahead of the AI chipmaker's third quarter earnings report next week.

One analyst made Nvidia’s stock his new top large-cap chip pick, while another likened Nvidia’s position to Apple’s in the early days of the iPhone.

Nvidia (NASDAQ:NVDA) shares reached new all-time highs last week, overtaking AAPL to become the world’s largest company by market cap. With nearly