Is NVIDIA (NVDA) Stock Outpacing Its Computer and Technology Peers This Year?
Is (NVDA) Outperforming Other Computer and Technology Stocks This Year?
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? Let's take a closer look at the stock's year-to-date performance to find out.
NVIDIA is one of 627 individual stocks in the Computer and Technology sector. Collectively, these companies sit at #13 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 is a proven system that emphasizes earnings estimates and estimate revisions, highlighting a variety of stocks that are displaying the right characteristics to beat the market over the next one to three months. NVDA is currently sporting a Zacks Rank of #2 (Buy).
Over the past three months, the Zacks Consensus Estimate for NVDA's full-year earnings has moved 8.96% higher. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.
Based on the latest available data, NVDA has gained about 71.11% so far this year. Meanwhile, the Computer and Technology sector has returned an average of 26.63% 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 #57 in the Zacks Industry Rank. On average, stocks in this group have gained 39.98% this year, meaning that NVDA is performing better 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.
Breakout Biotech Stocks with Triple-Digit Profit Potential
The biotech sector is projected to surge beyond $2.4 trillion by 2028 as scientists develop treatments for thousands of diseases. They’re also finding ways to edit the human genome to literally erase our vulnerability to these diseases.
Zacks has just released Century of Biology: 7 Biotech Stocks to Buy Right Now to help investors profit from 7 stocks poised for outperformance. Recommendations from previous editions of this report have produced gains of +205%, +258% and +477%. The stocks in this report could perform even better.See these 7 breakthrough stocks now>>
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
NVIDIA Corporation (NVDA): Free Stock Analysis Report
To read this article on Zacks.com click here.
Zacks Investment Research