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Is Applied Materials (AMAT) Stock Outpacing Its Computer and Technology Peers This Year?
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Investors focused on the Computer and Technology space have likely heard of Applied Materials (AMAT - Free Report) , but is the stock performing well in comparison to the rest of its sector peers? A quick glance at the company's year-to-date performance in comparison to the rest of the Computer and Technology sector should help us answer this question.
Applied Materials is one of 629 companies in the Computer and Technology group. The Computer and Technology group currently sits at #7 within the Zacks Sector Rank. The Zacks Sector Rank includes 16 different groups and is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors.
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. AMAT is currently sporting a Zacks Rank of #2 (Buy).
The Zacks Consensus Estimate for AMAT's full-year earnings has moved 2.68% higher within the past quarter. This is a sign of improving analyst sentiment and a positive earnings outlook trend.
Based on the most recent data, AMAT has returned 37.14% so far this year. Meanwhile, stocks in the Computer and Technology group have gained about 10.63% on average. This shows that Applied Materials is outperforming its peers so far this year.
Breaking things down more, AMAT is a member of the Semiconductor Equipment - Wafer Fabrication industry, which includes 4 individual companies and currently sits at #17 in the Zacks Industry Rank. This group has gained an average of 24.12% so far this year, so AMAT is performing better in this area.
Going forward, investors interested in Computer and Technology stocks should continue to pay close attention to AMAT as it looks to continue its solid performance.
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Is Applied Materials (AMAT) Stock Outpacing Its Computer and Technology Peers This Year?
Investors focused on the Computer and Technology space have likely heard of Applied Materials (AMAT - Free Report) , but is the stock performing well in comparison to the rest of its sector peers? A quick glance at the company's year-to-date performance in comparison to the rest of the Computer and Technology sector should help us answer this question.
Applied Materials is one of 629 companies in the Computer and Technology group. The Computer and Technology group currently sits at #7 within the Zacks Sector Rank. The Zacks Sector Rank includes 16 different groups and is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors.
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. AMAT is currently sporting a Zacks Rank of #2 (Buy).
The Zacks Consensus Estimate for AMAT's full-year earnings has moved 2.68% higher within the past quarter. This is a sign of improving analyst sentiment and a positive earnings outlook trend.
Based on the most recent data, AMAT has returned 37.14% so far this year. Meanwhile, stocks in the Computer and Technology group have gained about 10.63% on average. This shows that Applied Materials is outperforming its peers so far this year.
Breaking things down more, AMAT is a member of the Semiconductor Equipment - Wafer Fabrication industry, which includes 4 individual companies and currently sits at #17 in the Zacks Industry Rank. This group has gained an average of 24.12% so far this year, so AMAT is performing better in this area.
Going forward, investors interested in Computer and Technology stocks should continue to pay close attention to AMAT as it looks to continue its solid performance.