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 (GOOGL - 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? Let's take a closer look at the stock's year-to-date performance to find out.
Alphabet is one of 643 individual stocks in the Computer and Technology sector. Collectively, these companies sit at #10 in 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. Alphabet is currently sporting a Zacks Rank of #2 (Buy).
The Zacks Consensus Estimate for GOOGL's full-year earnings has moved 6.7% higher within the past quarter. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.
According to our latest data, GOOGL has moved about 21.5% on a year-to-date basis. Meanwhile, the Computer and Technology sector has returned an average of 20.5% on a year-to-date basis. This means that Alphabet is outperforming the sector as a whole this year.
Another stock in the Computer and Technology sector, Infineon Technologies AG (IFNNY - Free Report) , has outperformed the sector so far this year. The stock's year-to-date return is 21.8%.
In Infineon Technologies AG's case, the consensus EPS estimate for the current year increased 22.3% over the past three months. The stock currently has a Zacks Rank #1 (Strong Buy).
Breaking things down more, Alphabet is a member of the Internet - Services industry, which includes 43 individual companies and currently sits at #112 in the Zacks Industry Rank. This group has gained an average of 20.5% so far this year, so GOOGL is performing better in this area.
Infineon Technologies AG, however, belongs to the Electronics - Semiconductors industry. Currently, this 40-stock industry is ranked #158. The industry has moved +18.2% so far this year.
Alphabet and Infineon Technologies AG could continue their solid performance, so investors interested in Computer and Technology stocks should continue to pay close attention to these stocks.
Zacks Reveals ChatGPT "Sleeper" Stock
One little-known company is at the heart of an especially brilliant Artificial Intelligence sector. By 2030, the AI industry is predicted to have an internet and iPhone-scale economic impact of $15.7 Trillion.
As a service to readers, Zacks is providing a bonus report that names and explains this explosive growth stock and 4 other "must buys." Plus more.
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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 (GOOGL - 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? Let's take a closer look at the stock's year-to-date performance to find out.
Alphabet is one of 643 individual stocks in the Computer and Technology sector. Collectively, these companies sit at #10 in 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. Alphabet is currently sporting a Zacks Rank of #2 (Buy).
The Zacks Consensus Estimate for GOOGL's full-year earnings has moved 6.7% higher within the past quarter. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.
According to our latest data, GOOGL has moved about 21.5% on a year-to-date basis. Meanwhile, the Computer and Technology sector has returned an average of 20.5% on a year-to-date basis. This means that Alphabet is outperforming the sector as a whole this year.
Another stock in the Computer and Technology sector, Infineon Technologies AG (IFNNY - Free Report) , has outperformed the sector so far this year. The stock's year-to-date return is 21.8%.
In Infineon Technologies AG's case, the consensus EPS estimate for the current year increased 22.3% over the past three months. The stock currently has a Zacks Rank #1 (Strong Buy).
Breaking things down more, Alphabet is a member of the Internet - Services industry, which includes 43 individual companies and currently sits at #112 in the Zacks Industry Rank. This group has gained an average of 20.5% so far this year, so GOOGL is performing better in this area.
Infineon Technologies AG, however, belongs to the Electronics - Semiconductors industry. Currently, this 40-stock industry is ranked #158. The industry has moved +18.2% so far this year.
Alphabet and Infineon Technologies AG could continue their solid performance, so investors interested in Computer and Technology stocks should continue to pay close attention to these stocks.
Zacks Reveals ChatGPT "Sleeper" Stock
One little-known company is at the heart of an especially brilliant Artificial Intelligence sector. By 2030, the AI industry is predicted to have an internet and iPhone-scale economic impact of $15.7 Trillion.
As a service to readers, Zacks is providing a bonus report that names and explains this explosive growth stock and 4 other "must buys." Plus more.
Download Free ChatGPT Stock Report Right Now >>
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