The Computer and Technology group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. Has Western Digital (WDC - Free Report) been one of those stocks this year? Let's take a closer look at the stock's year-to-date performance to find out.
Western Digital is a member of the Computer and Technology sector. This group includes 623 individual stocks and currently holds a Zacks Sector Rank of #12. 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. WDC is currently sporting a Zacks Rank of #1 (Strong Buy).
The Zacks Consensus Estimate for WDC's full-year earnings has moved 24.30% higher within the past quarter. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.
Based on the most recent data, WDC has returned 23.33% so far this year. Meanwhile, stocks in the Computer and Technology group have gained about 12.30% on average. This means that Western Digital is outperforming the sector as a whole this year.
Breaking things down more, WDC is a member of the Computer- Storage Devices industry, which includes 9 individual companies and currently sits at #74 in the Zacks Industry Rank. Stocks in this group have gained about 20.53% so far this year, so WDC 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 WDC as it attempts to continue its solid performance.
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
The Computer and Technology group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. Has Western Digital (WDC - Free Report) been one of those stocks this year? Let's take a closer look at the stock's year-to-date performance to find out.
Western Digital is a member of the Computer and Technology sector. This group includes 623 individual stocks and currently holds a Zacks Sector Rank of #12. 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. WDC is currently sporting a Zacks Rank of #1 (Strong Buy).
The Zacks Consensus Estimate for WDC's full-year earnings has moved 24.30% higher within the past quarter. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.
Based on the most recent data, WDC has returned 23.33% so far this year. Meanwhile, stocks in the Computer and Technology group have gained about 12.30% on average. This means that Western Digital is outperforming the sector as a whole this year.
Breaking things down more, WDC is a member of the Computer- Storage Devices industry, which includes 9 individual companies and currently sits at #74 in the Zacks Industry Rank. Stocks in this group have gained about 20.53% so far this year, so WDC 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 WDC as it attempts to continue its solid performance.
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
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