Is Applied Materials (AMAT) Stock Outpacing Its Computer and Technology Peers This Year?
The Computer and Technology group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. Has Applied Materials (AMAT) been one of those stocks this year? Let's take a closer look at the stock's year-to-date performance to find out.
Applied Materials is one of 621 companies in the Computer and Technology group. The Computer and Technology group currently sits at #11 within 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. AMAT is currently sporting a Zacks Rank of #3 (Hold).
Within the past quarter, the Zacks Consensus Estimate for AMAT's full-year earnings has moved 19.39% higher. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.
Our latest available data shows that AMAT has returned about 53.94% since the start of the calendar year. At the same time, Computer and Technology stocks have gained an average of 12.63%. This means that Applied Materials is performing better than its sector in terms of year-to-date returns.
Breaking things down more, AMAT is a member of the Semiconductor Equipment - Wafer Fabrication industry, which includes 4 individual companies and currently sits at #6 in the Zacks Industry Rank. On average, this group has gained an average of 37.71% so far this year, meaning that AMAT is performing better in terms of year-to-date returns.
Investors with an interest in Computer and Technology stocks should continue to track AMAT. The stock will be looking to continue its solid performance.
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