Investors interested in Computer and Technology stocks should always be looking to find the best-performing companies in the group. Is Applied Materials (AMAT) one of those stocks right now? By taking a look at the stock’s year-to-date performance in comparison to its Computer and Technology peers, we might be able to answer that question.
Applied Materials is one of 605 companies in the Computer and Technology group. The Computer and Technology group currently sits at #4 within 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 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. AMAT is currently sporting a Zacks Rank of #2 (Buy).
Within the past quarter, the Zacks Consensus Estimate for AMAT’s full-year earnings has moved 4.40% higher. This signals that analyst sentiment is improving and the stock’s earnings outlook is more positive.
Based on the latest available data, AMAT has gained about 9.67% so far this year. At the same time, Computer and Technology stocks have gained an average of 21.86%. This means that Applied Materials is performing better than its sector in terms of year-to-date returns.
Looking more specifically, AMAT belongs to the Semiconductor Equipment – Wafer Fabrication industry, a group that includes 4 individual stocks and currently sits at #2 in the Zacks Industry Rank. On average, stocks in this group have gained 24.46% this year, meaning that AMAT is slightly underperforming its industry in terms of year-to-date returns.
AMAT will likely be looking to continue its solid performance, so investors interested in Computer and Technology stocks should continue to pay close attention to the company.
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