Yahoo Finance Are Computer and Technology Stocks Lagging NVIDIA (NVDA) This Year?
Investors interested in Computer and Technology stocks should always be looking to find the best-performing companies in the group. Nvidia (NVDA) is a stock that can certainly grab the attention of many investors, but do its recent returns compare favorably to the sector as a whole? 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 619 individual stocks and currently holds a Zacks Sector Rank of #10. 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. Nvidia is currently sporting a Zacks Rank of #1 (Strong Buy).
Over the past three months, the Zacks Consensus Estimate for NVDA's full-year earnings has moved 14.4% higher. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.
Based on the most recent data, NVDA has returned 161.7% so far this year. In comparison, Computer and Technology companies have returned an average of 10.2%. This shows that Nvidia is outperforming its peers so far this year.
Onto Innovation (ONTO) is another Computer and Technology stock that has outperformed the sector so far this year. Since the beginning of the year, the stock has returned 46.2%.
The consensus estimate for Onto Innovation's current year EPS has increased 7.5% over the past three months. The stock currently has a Zacks Rank #2 (Buy).
Looking more specifically, Nvidia belongs to the Semiconductor - General industry, which includes 8 individual stocks and currently sits at #97 in the Zacks Industry Rank. On average, stocks in this group have lost 59.3% this year, meaning that NVDA is performing better in terms of year-to-date returns.
Onto Innovation, however, belongs to the Nanotechnology industry. Currently, this 2-stock industry is ranked #97. The industry has moved +43.7% so far this year.
Going forward, investors interested in Computer and Technology stocks should continue to pay close attention to Nvidia and Onto Innovation as they could maintain their solid performance.
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