Investors focused on the Computer and Technology space have likely heard of QUALCOMM (QCOM), but is the stock performing well in comparison to the rest of its sector peers? One simple way to answer this question is to take a look at the year-to-date performance of QCOM and the rest of the Computer and Technology group's stocks.
QUALCOMM is a member of our Computer and Technology group, which includes 629 different companies and currently sits at #6 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 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. QCOM is currently sporting a Zacks Rank of #1 (Strong Buy).
Over the past three months, the Zacks Consensus Estimate for QCOM's full-year earnings has moved 4.69% higher. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.
Based on the latest available data, QCOM has gained about 61.38% so far this year. At the same time, Computer and Technology stocks have gained an average of 27.70%. This shows that QUALCOMM is outperforming its peers so far this year.
Looking more specifically, QCOM belongs to the Wireless Equipment industry, a group that includes 14 individual stocks and currently sits at #103 in the Zacks Industry Rank. Stocks in this group have gained about 28.11% so far this year, so QCOM is performing better this group in terms of year-to-date returns.
Investors in the Computer and Technology sector will want to keep a close eye on QCOM as it attempts to continue its solid performance.
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