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 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.