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Is NVIDIA (NVDA) Outperforming Other Computer and Technology Stocks 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 627 individual stocks and currently holds a Zacks Sector Rank of #2. The Zacks Sector Rank gauges the strength of our 16 individual sector groups by measuring the average Zacks Rank of the individual stocks within the groups.

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 #2 (Buy).

Over the past three months, the Zacks Consensus Estimate for NVDA's full-year earnings has moved 6.88% higher. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.

Based on the most recent data, NVDA has returned 5.90% so far this year. In comparison, Computer and Technology companies have returned an average of -16.16%. This means that NVIDIA is outperforming the sector as a whole this year.

Looking more specifically, NVDA belongs to the Semiconductor - General industry, which includes 8 individual stocks and currently sits at #191 in the Zacks Industry Rank. Stocks in this group have lost about 8.98% so far this year, so NVDA is performing better this group 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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