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Is NVIDIA (NVDA) Outperforming Other Computer and Technology Stocks This Year?

Zacks Equity Research
·2-min read

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? One simple way to answer this question is to take a look at the year-to-date performance of NVDA and the rest of the Computer and Technology group's stocks.

NVIDIA is one of 607 companies in the Computer and Technology group. The Computer and Technology group currently sits at #9 within the Zacks Sector Rank. 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 proven model that highlights a variety of stocks with the right characteristics to outperform the market over the next one to three months. The system emphasizes earnings estimate revisions and favors companies with improving earnings outlooks. NVDA is currently sporting a Zacks Rank of #2 (Buy).

Within the past quarter, the Zacks Consensus Estimate for NVDA's full-year earnings has moved 5.25% higher. This is a sign of improving analyst sentiment and a positive earnings outlook trend.

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Based on the most recent data, NVDA has returned 61.46% so far this year. Meanwhile, the Computer and Technology sector has returned an average of 11.04% on a year-to-date basis. This means that NVIDIA is outperforming the sector as a whole this year.

Breaking things down more, NVDA is a member of the Semiconductor - General industry, which includes 8 individual companies and currently sits at #21 in the Zacks Industry Rank. On average, stocks in this group have gained 17.32% this year, meaning that NVDA is performing better in terms of year-to-date returns.

Investors in the Computer and Technology sector will want to keep a close eye on NVDA as it attempts to continue its solid performance.


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