Is Advanced Micro Devices (AMD) Stock Outpacing Its Computer and Technology Peers This Year?
Investors focused on the Computer and Technology space have likely heard of Advanced Micro Devices (AMD), but is the stock performing well in comparison to the rest of its sector peers? 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.
Advanced Micro Devices is a member of the Computer and Technology sector. This group includes 630 individual stocks and currently holds a Zacks Sector Rank of #8. 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. AMD is currently sporting a Zacks Rank of #2 (Buy).
Over the past 90 days, the Zacks Consensus Estimate for AMD's full-year earnings has moved 21.53% higher. This is a sign of improving analyst sentiment and a positive earnings outlook trend.
Based on the latest available data, AMD has gained about 48.93% so far this year. Meanwhile, stocks in the Computer and Technology group have gained about 5.44% on average. This means that Advanced Micro Devices is performing better than its sector in terms of year-to-date returns.
To break things down more, AMD belongs to the Electronics - Semiconductors industry, a group that includes 35 individual companies and currently sits at #154 in the Zacks Industry Rank. Stocks in this group have lost about 0.95% so far this year, so AMD is performing better this group in terms of year-to-date returns.
Investors with an interest in Computer and Technology stocks should continue to track AMD. The stock will be looking to continue its solid performance.
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