Is NVIDIA Stock Outperforming the Nasdaq?

Headquartered in Santa Clara, California, NVIDIA Corporation (NVDA) designs advanced chips, networking systems, and software that power data centers, cloud platforms, and increasingly, the next generation of AI applications. It is a pioneer in gaming GPUs and now leads AI and accelerated computing with a $5.1 trillion market cap. 

Companies valued over $200 billion are generally described as “mega-cap” stocks, and NVIDIA fits right into that category. It has become the defining company of the AI revolution and a central force behind the massive global buildout of AI infrastructure. 

NVDA’s shares had reached a 52-week high of $236.54 on May 14, but are down 3.6% from that level. Over the past three months, the stock has gained 7.2%, lagging behind the Nasdaq Composite’s ($NASX) marginal fall during the same period.

Over a more extended period, this outperformance persists. Over the past 52 weeks, NVDA’s stock has increased by 25.5%, while it has been up 22.2% year-to-date. Contrarily, the NASX has gained 22.9% over the past 52 weeks and has rallied 14.2% in 2026. 

The stock has been trading above its 200-day moving average since early April, and is over its 50-day moving average since early August. 

On Aug. 27, NVIDIA sparked a broad chip-stock rally after issuing an unusual long-term revenue forecast that helped ease investor concerns that the AI boom was losing momentum. The stock jumped 6.8%, putting the company on track to add nearly $296 billion in market value, as its projection of roughly 70% revenue growth in the next fiscal year reinforced confidence that demand for AI infrastructure remains strong despite lingering concerns over Big Tech’s data-center spending and rising competition. 

We compare NVDA’s performance with that of another mega-cap semiconductor stock, Advanced Micro Devices, Inc. (AMD), which has gained 185.2% over the past 52 weeks and 122.6% in 2026, outpacing NVDA.

Wall Street analysts are strongly bullish on NVDA’s stock. The stock has a consensus rating of “Strong Buy” from the 48 analysts covering it. The mean price target of $307.38 implies a 34.8% upside from the current price level.