The Computer and Technology group has plenty of great stocks, but investors should always be looking for companies 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 a member of our Computer and Technology group, which includes 618 different companies and currently sits at #2 in the Zacks Sector Rank. 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 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 #2 (Buy).
Over the past 90 days, the Zacks Consensus Estimate for NVDA's full-year earnings has moved 4.8% higher. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.
Our latest available data shows that NVDA has returned about 179.9% since the start of the calendar year. In comparison, Computer and Technology companies have returned an average of 30.7%. As we can see, Nvidia is performing better than its sector in the calendar year.
CACI International (CACI) 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 41.9%.
The consensus estimate for CACI International's current year EPS has increased 1.8% 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 #56 in the Zacks Industry Rank. This group has gained an average of 127.5% so far this year, so NVDA is performing better in this area.
In contrast, CACI International falls under the Computer - Services industry. Currently, this industry has 10 stocks and is ranked #61. Since the beginning of the year, the industry has moved +14.4%.
Investors interested in the Computer and Technology sector may want to keep a close eye on Nvidia and CACI International as they attempt to continue their solid performance.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
