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Has Alphabet (GOOG) Outpaced Other Computer and Technology Stocks This Year?

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For those looking to find strong Computer and Technology stocks, it is prudent to search for companies in the group that are outperforming their peers. Alphabet (GOOG - Free Report) is a stock that can certainly grab the attention of many investors, but do its recent returns compare favorably to the sector as a whole? One simple way to answer this question is to take a look at the year-to-date performance of GOOG and the rest of the Computer and Technology group's stocks.

Alphabet is one of 620 companies in the Computer and Technology group. The Computer and Technology group currently sits at #10 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 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. GOOG is currently sporting a Zacks Rank of #1 (Strong Buy).

Within the past quarter, the Zacks Consensus Estimate for GOOG's full-year earnings has moved 31.45% higher. This is a sign of improving analyst sentiment and a positive earnings outlook trend.

Our latest available data shows that GOOG has returned about 38.70% since the start of the calendar year. In comparison, Computer and Technology companies have returned an average of 15.32%. This means that Alphabet is performing better than its sector in terms of year-to-date returns.

To break things down more, GOOG belongs to the Internet - Services industry, a group that includes 49 individual companies and currently sits at #163 in the Zacks Industry Rank. Stocks in this group have gained about 28.36% so far this year, so GOOG is performing better this group in terms of year-to-date returns.

Investors with an interest in Computer and Technology stocks should continue to track GOOG. The stock will be looking to continue its solid performance.


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