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Is QUALCOMM (QCOM) 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. Has QUALCOMM (QCOM - 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.

QUALCOMM is one of 605 individual stocks in the Computer and Technology sector. Collectively, these companies sit at #4 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 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. QCOM is currently sporting a Zacks Rank of #2 (Buy).

Within the past quarter, the Zacks Consensus Estimate for QCOM's full-year earnings has moved 4.11% higher. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.

According to our latest data, QCOM has moved about 25.85% on a year-to-date basis. In comparison, Computer and Technology companies have returned an average of 22.23%. This means that QUALCOMM is outperforming the sector as a whole this year.

Looking more specifically, QCOM belongs to the Wireless Equipment industry, which includes 15 individual stocks and currently sits at #114 in the Zacks Industry Rank. On average, stocks in this group have gained 18.75% this year, meaning that QCOM is performing better in terms of year-to-date returns.

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


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