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Has NVIDIA (NVDA) Outpaced Other Computer and Technology Stocks This Year?

Zacks Equity Research

Investors focused on the Computer and Technology space have likely heard of NVIDIA (NVDA), but is the stock performing well in comparison to the rest of its sector peers? By taking a look at the stock's year-to-date performance in comparison to its Computer and Technology peers, we might be able to answer that question.

NVIDIA is a member of the Computer and Technology sector. This group includes 630 individual stocks and currently holds a Zacks Sector Rank of #6. The Zacks Sector Rank includes 16 different groups and is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors.

The Zacks Rank is a successful stock-picking model that emphasizes earnings estimates and estimate revisions. The system highlights a number of different stocks that could be poised to outperform the broader market over the next one to three months. NVDA is currently sporting a Zacks Rank of #2 (Buy).

Over the past 90 days, the Zacks Consensus Estimate for NVDA's full-year earnings has moved 5.62% higher. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.

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Based on the most recent data, NVDA has returned 56.36% so far this year. Meanwhile, the Computer and Technology sector has returned an average of 28.67% on a year-to-date basis. This shows that NVIDIA is outperforming its peers so far this year.

Breaking things down more, NVDA is a member of the Semiconductor - General industry, which includes 8 individual companies and currently sits at #19 in the Zacks Industry Rank. This group has gained an average of 33.61% so far this year, so NVDA is performing better in this area.

NVDA will likely be looking to continue its solid performance, so investors interested in Computer and Technology stocks should continue to pay close attention to the company.


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Zacks Investment Research