Are Computer and Technology Stocks Lagging NVIDIA (NVDA) This Year?
For those looking to find strong Computer and Technology stocks, it is prudent to search for companies in the group that are outperforming their peers. Is Nvidia (NVDA) one of those stocks right now? Let's take a closer look at the stock's year-to-date performance to find out.
Nvidia is one of 633 companies in the Computer and Technology group. The Computer and Technology group currently sits at #7 within 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 model that highlights a variety of stocks with the right characteristics to outperform the market over the next one to three months. The system emphasizes earnings estimate revisions and favors companies with improving earnings outlooks. Nvidia is currently sporting a Zacks Rank of #1 (Strong Buy).
The Zacks Consensus Estimate for NVDA's full-year earnings has moved 42.7% higher within the past quarter. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.
According to our latest data, NVDA has moved about 216.4% on a year-to-date basis. In comparison, Computer and Technology companies have returned an average of 38.9%. This means that Nvidia is outperforming the sector as a whole this year.
Another stock in the Computer and Technology sector, Camtek (CAMT), has outperformed the sector so far this year. The stock's year-to-date return is 158%.
Over the past three months, Camtek's consensus EPS estimate for the current year has increased 10.3%. 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 #81 in the Zacks Industry Rank. On average, this group has gained an average of 127.5% so far this year, meaning that NVDA is performing better in terms of year-to-date returns.
Camtek, however, belongs to the Electronics - Measuring Instruments industry. Currently, this 5-stock industry is ranked #43. The industry has moved -14.7% so far this year.
Going forward, investors interested in Computer and Technology stocks should continue to pay close attention to Nvidia and Camtek as they could maintain their solid performance.
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NVIDIA Corporation (NVDA) : Free Stock Analysis Report
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