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Is NVIDIA (NVDA) Stock Outpacing Its Computer and Technology Peers This Year?

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Investors focused on the Computer and Technology space have likely heard of NVIDIA (NVDA - Free Report) , 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 a member of the Computer and Technology sector. This group includes 632 individual stocks and currently holds a Zacks Sector Rank of #7. The Zacks Sector Rank considers 16 different sector groups. The average Zacks Rank of the individual stocks within the groups is measured, and the sectors are listed from best to worst.

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 #1 (Strong Buy).

Over the past 90 days, the Zacks Consensus Estimate for NVDA's full-year earnings has moved 16.17% 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 26.90% so far this year. Meanwhile, stocks in the Computer and Technology group have gained about 5.01% on average. This means that NVIDIA is performing better than its sector in terms of year-to-date returns.

Breaking things down more, NVDA is a member of the Semiconductor - General industry, which includes 8 individual companies and currently sits at #7 in the Zacks Industry Rank. This group has gained an average of 17.31% so far this year, so NVDA is performing better in this area.

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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