Has NVIDIA (NVDA) Outpaced Other Computer and Technology Stocks This Year?

The Computer and Technology group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. 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 603 individual stocks and currently holds a Zacks Sector Rank of #1. The Zacks Sector Rank considers 16 different sector groups. The average Zacks Rank of the individual stocks within the groups is measured, and the sectors are listed from best to worst.The Zacks Rank emphasizes earnings estimates and estimate revisions to find stocks with improving earnings outlooks. This system has a long record of success, and these stocks tend to be on track 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 4.4% higher. This is a sign of improving analyst sentiment and a positive earnings outlook trend.Based on the most recent data, NVDA has returned 38.2% so far this year. In comparison, Computer and Technology companies have returned an average of 29%. This means that Nvidia is performing better than its sector in terms of year-to-date returns.One other Computer and Technology stock that has outperformed the sector so far this year is Appian (APPN). The stock is up 30.5% year-to-date.Over the past three months, Appian's consensus EPS estimate for the current year has increased 99%. The stock currently has a Zacks Rank #1 (Strong Buy).To break things down more, Nvidia belongs to the Semiconductor - General industry, a group that includes 7 individual companies and currently sits at #34 in the Zacks Industry Rank. On average, this group has gained an average of 35.9% so far this year, meaning that NVDA is performing better in terms of year-to-date returns. Appian, however, belongs to the Internet - Software industry. Currently, this 168-stock industry is ranked #61. The industry has moved +9.9% so far this year.Investors with an interest in Computer and Technology stocks should continue to track Nvidia and Appian. These stocks will be looking to continue their solid performance.Radical New Technology Could Hand Investors Huge GainsQuantum Computing is the next technological revolution, and it could be even more advanced than AI.While some believed the technology was years away, it is already present and moving fast. Large hyperscalers, such as Microsoft, Google, Amazon, Oracle, and even Meta and Tesla, are scrambling to integrate quantum computing into their infrastructure.Senior Stock Strategist Kevin Cook reveals 7 carefully selected stocks poised to dominate the quantum computing landscape in his report, Beyond AI: The Quantum Leap in Computing Power.Kevin was among the early experts who recognized NVIDIA's enormous potential back in 2016. Now, he has keyed in on what could be "the next big thing" in quantum computing supremacy. Today, you have a rare chance to position your portfolio at the forefront of this opportunity.See Top Quantum Stocks Now >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report NVIDIA Corporation (NVDA): Free Stock Analysis Report Appian Corporation (APPN): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks Weiter zum vollständigen Artikel bei Zacks