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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? 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 our Computer and Technology group, which includes 623 different companies and currently sits at #9 in 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 17.52% higher within the past quarter. 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 16.50% so far this year. In comparison, Computer and Technology companies have returned an average of 14.27%. As we can see, NVIDIA is performing better than its sector in the calendar year.

To break things down more, NVDA belongs to the Semiconductor - General industry, a group that includes 8 individual companies and currently sits at #46 in the Zacks Industry Rank. On average, stocks in this group have gained 22.07% this year, meaning that NVDA is slightly underperforming its industry in terms of year-to-date returns.

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