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Is Alphabet (GOOGL) Stock Outpacing Its Computer and Technology Peers This Year?
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Investors interested in Computer and Technology stocks should always be looking to find the best-performing companies in the group. Is Alphabet (GOOGL - 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.
Alphabet is a member of the Computer and Technology sector. This group includes 645 individual stocks and currently holds a Zacks Sector Rank of #4. 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 model that highlights a variety of stocks with the right characteristics to outperform the market over the next one to three months. The system emphasizes earnings estimate revisions and favors companies with improving earnings outlooks. GOOGL is currently sporting a Zacks Rank of #2 (Buy).
Over the past 90 days, the Zacks Consensus Estimate for GOOGL's full-year earnings has moved 0.10% higher. This is a sign of improving analyst sentiment and a positive earnings outlook trend.
Based on the most recent data, GOOGL has returned 8.06% so far this year. Meanwhile, the Computer and Technology sector has returned an average of 11.66% on a year-to-date basis. This means that Alphabet is outperforming the sector as a whole this year.
To break things down more, GOOGL belongs to the Internet - Services industry, a group that includes 50 individual companies and currently sits at #81 in the Zacks Industry Rank. This group has gained an average of 12.07% so far this year, so GOOGL is slightly underperforming its industry in this area.
Going forward, investors interested in Computer and Technology stocks should continue to pay close attention to GOOGL as it looks to continue its solid performance.
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Is Alphabet (GOOGL) Stock Outpacing Its Computer and Technology Peers This Year?
Investors interested in Computer and Technology stocks should always be looking to find the best-performing companies in the group. Is Alphabet (GOOGL - 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.
Alphabet is a member of the Computer and Technology sector. This group includes 645 individual stocks and currently holds a Zacks Sector Rank of #4. 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 model that highlights a variety of stocks with the right characteristics to outperform the market over the next one to three months. The system emphasizes earnings estimate revisions and favors companies with improving earnings outlooks. GOOGL is currently sporting a Zacks Rank of #2 (Buy).
Over the past 90 days, the Zacks Consensus Estimate for GOOGL's full-year earnings has moved 0.10% higher. This is a sign of improving analyst sentiment and a positive earnings outlook trend.
Based on the most recent data, GOOGL has returned 8.06% so far this year. Meanwhile, the Computer and Technology sector has returned an average of 11.66% on a year-to-date basis. This means that Alphabet is outperforming the sector as a whole this year.
To break things down more, GOOGL belongs to the Internet - Services industry, a group that includes 50 individual companies and currently sits at #81 in the Zacks Industry Rank. This group has gained an average of 12.07% so far this year, so GOOGL is slightly underperforming its industry in this area.
Going forward, investors interested in Computer and Technology stocks should continue to pay close attention to GOOGL as it looks to continue its solid performance.