We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Has Western Digital (WDC) Outpaced Other Computer and Technology Stocks This Year?
Read MoreHide Full Article
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. Is Western Digital (WDC - Free Report) one of those stocks right now? By taking a look at the stock's year-to-date performance in comparison to its Computer and Technology peers, we might be able to answer that question.
Western Digital is one of 620 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 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. WDC is currently sporting a Zacks Rank of #2 (Buy).
Over the past 90 days, the Zacks Consensus Estimate for WDC's full-year earnings has moved 36.23% higher. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.
Our latest available data shows that WDC has returned about 31.70% since the start of the calendar year. Meanwhile, the Computer and Technology sector has returned an average of 10.12% on a year-to-date basis. This means that Western Digital is outperforming the sector as a whole this year.
To break things down more, WDC belongs to the Computer- Storage Devices industry, a group that includes 9 individual companies and currently sits at #99 in the Zacks Industry Rank. Stocks in this group have gained about 28.71% so far this year, so WDC 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 WDC. The stock will be looking to continue its solid performance.
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Image: Bigstock
Has Western Digital (WDC) Outpaced Other Computer and Technology Stocks This Year?
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. Is Western Digital (WDC - Free Report) one of those stocks right now? By taking a look at the stock's year-to-date performance in comparison to its Computer and Technology peers, we might be able to answer that question.
Western Digital is one of 620 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 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. WDC is currently sporting a Zacks Rank of #2 (Buy).
Over the past 90 days, the Zacks Consensus Estimate for WDC's full-year earnings has moved 36.23% higher. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.
Our latest available data shows that WDC has returned about 31.70% since the start of the calendar year. Meanwhile, the Computer and Technology sector has returned an average of 10.12% on a year-to-date basis. This means that Western Digital is outperforming the sector as a whole this year.
To break things down more, WDC belongs to the Computer- Storage Devices industry, a group that includes 9 individual companies and currently sits at #99 in the Zacks Industry Rank. Stocks in this group have gained about 28.71% so far this year, so WDC 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 WDC. The stock will be looking to continue its solid performance.