Has Apple (AAPL) Outpaced Other Computer and Technology Stocks This Year?
Investors focused on the Computer and Technology space have likely heard of Apple (AAPL), but is the stock performing well in comparison to the rest of its sector peers? Let's take a closer look at the stock's year-to-date performance to find out.
Apple is one of 627 individual stocks in the Computer and Technology sector. Collectively, these companies sit at #3 in 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 is a successful stock-picking model that emphasizes earnings estimates and estimate revisions. The system highlights a number of different stocks that could be poised to outperform the broader market over the next one to three months. AAPL is currently sporting a Zacks Rank of #1 (Strong Buy).
The Zacks Consensus Estimate for AAPL's full-year earnings has moved 0.61% higher within the past quarter. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.
According to our latest data, AAPL has moved about 13.13% on a year-to-date basis. In comparison, Computer and Technology companies have returned an average of 10.37%. This means that Apple is outperforming the sector as a whole this year.
To break things down more, AAPL belongs to the Computer - Mini computers industry, a group that includes 4 individual companies and currently sits at #8 in the Zacks Industry Rank. On average, this group has gained an average of 14.75% so far this year, meaning that AAPL is slightly underperforming its industry in terms of year-to-date returns.
Investors with an interest in Computer and Technology stocks should continue to track AAPL. The stock will be looking to continue its solid performance.
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