The Computer and Technology group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. 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 630 individual stocks in the Computer and Technology sector. Collectively, these companies sit at #12 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 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. AMAT is currently sporting a Zacks Rank of #2 (Buy).
The Zacks Consensus Estimate for AMAT’s full-year earnings has moved 5.10% higher within the past quarter. This means that analyst sentiment is stronger and the stock’s earnings outlook is improving.
Our latest available data shows that AMAT has returned about 47.39% since the start of the calendar year. In comparison, Computer and Technology companies have returned an average of 22.31%. 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 #119 in the Zacks Industry Rank. On average, this group has gained an average of 50.04% so far this year, meaning that AMAT is slightly underperforming its industry in terms of year-to-date returns.
Investors in the Computer and Technology sector will want to keep a close eye on AMAT as it attempts to continue its solid performance.