Has NIO (NIO) Outpaced Other Auto-Tires-Trucks Stocks This Year?

For those looking to find strong Auto-Tires-Trucks stocks, it is prudent to search for companies in the group that are outperforming their peers. Has NIO Inc. (NIO) been one of those stocks this year? Let's take a closer look at the stock's year-to-date performance to find out.NIO Inc. is a member of our Auto-Tires-Trucks group, which includes 100 different companies and currently sits at #14 in the Zacks Sector Rank. The Zacks Sector Rank includes 16 different groups and is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors.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. NIO Inc. is currently sporting a Zacks Rank of #2 (Buy).Over the past 90 days, the Zacks Consensus Estimate for NIO's full-year earnings has moved 67.5% higher. This is a sign of improving analyst sentiment and a positive earnings outlook trend.Based on the latest available data, NIO has gained about 6.9% so far this year. Meanwhile, the Auto-Tires-Trucks sector has returned an average of -6.7% on a year-to-date basis. As we can see, NIO Inc. is performing better than its sector in the calendar year.Another stock in the Auto-Tires-Trucks sector, Yamaha Motor Co., Ltd. (YMHAY), has outperformed the sector so far this year. The stock's year-to-date return is 4.5%.For Yamaha Motor Co., Ltd., the consensus EPS estimate for the current year has increased 23.4% over the past three months. The stock currently has a Zacks Rank #2 (Buy).Breaking things down more, NIO Inc. is a member of the Automotive - Foreign industry, which includes 23 individual companies and currently sits at #187 in the Zacks Industry Rank. Stocks in this group have lost about 17% so far this year, so NIO is performing better this group in terms of year-to-date returns. Yamaha Motor Co., Ltd. is also part of the same industry.Going forward, investors interested in Auto-Tires-Trucks stocks should continue to pay close attention to NIO Inc. and Yamaha Motor Co., Ltd. as they could maintain 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 >>This article originally published on Zacks Investment Research (zacks.com).Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks Weiter zum vollständigen Artikel bei Zacks