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MARKETS LIVE BLOG:

STOCKS END MIXED AS YIELDS TICK HIGHER

C$ gives up earlier gains as wider yield spreads weigh

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

Zacks Equity Research

For those looking to find strong Computer and Technology stocks, it is prudent to search for companies in the group that are outperforming their peers. NVIDIA (NVDA) is a stock that can certainly grab the attention of many investors, but do its recent returns compare favorably to the sector as a whole? A quick glance at the company's year-to-date performance in comparison to the rest of the Computer and Technology sector should help us answer this question.

NVIDIA is one of 630 companies in the Computer and Technology group. The Computer and Technology group currently sits at #3 within the Zacks Sector Rank. The Zacks Sector Rank considers 16 different groups, measuring the average Zacks Rank of the individual stocks within the sector to gauge the strength of each group.

The Zacks Rank emphasizes earnings estimates and estimate revisions to find stocks with improving earnings outlooks. This system has a long record of success, and these stocks tend to be on track to beat the market over the next one to three months. NVDA is currently sporting a Zacks Rank of #2 (Buy).

The Zacks Consensus Estimate for NVDA's full-year earnings has moved 6.99% higher within the past quarter. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.

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According to our latest data, NVDA has moved about 33.74% on a year-to-date basis. Meanwhile, stocks in the Computer and Technology group have gained about 10.27% on average. 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 #34 in the Zacks Industry Rank. On average, this group has gained an average of 16.63% so far this year, meaning that NVDA is performing better in terms of year-to-date returns.

Going forward, investors interested in Computer and Technology stocks should continue to pay close attention to NVDA as it looks to continue its solid performance.


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Zacks Investment Research