Has Alphabet (GOOGL) Outpaced Other Computer and Technology Stocks This Year?
Investors interested in Computer and Technology stocks should always be looking to find the best-performing companies in the group. Has Alphabet (GOOGL) been one of those stocks this year? Let's take a closer look at the stock's year-to-date performance to find out.
Alphabet is a member of our Computer and Technology group, which includes 623 different companies and currently sits at #9 in the Zacks Sector Rank. 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 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. GOOGL is currently sporting a Zacks Rank of #2 (Buy).
Over the past 90 days, the Zacks Consensus Estimate for GOOGL's full-year earnings has moved 10.74% higher. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.
According to our latest data, GOOGL has moved about 28.07% on a year-to-date basis. Meanwhile, stocks in the Computer and Technology group have gained about 14.27% on average. This shows that Alphabet is outperforming its peers so far this year.
Looking more specifically, GOOGL belongs to the Internet - Services industry, which includes 49 individual stocks and currently sits at #150 in the Zacks Industry Rank. On average, stocks in this group have gained 21.89% this year, meaning that GOOGL is performing better in terms of year-to-date returns.
Investors in the Computer and Technology sector will want to keep a close eye on GOOGL as it attempts to continue its solid performance.
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