Investors focused on the Computer and Technology space have likely heard of QUALCOMM (QCOM - Free Report) , but is the stock performing well in comparison to the rest of its sector peers? 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.
QUALCOMM is a member of the Computer and Technology sector. This group includes 604 individual stocks and currently holds a Zacks Sector Rank of #7. 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 system that emphasizes earnings estimates and estimate revisions, highlighting a variety of stocks that are displaying the right characteristics to beat the 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 3.85% 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 31.44% on a year-to-date basis. Meanwhile, stocks in the Computer and Technology group have gained about 15.95% on average. This means that QUALCOMM is performing better than its sector in terms of year-to-date returns.
Looking more specifically, QCOM belongs to the Wireless Equipment industry, which includes 15 individual stocks and currently sits at #112 in the Zacks Industry Rank. This group has gained an average of 18.64% so far this year, so QCOM is performing better in this area.
Going forward, investors interested in Computer and Technology stocks should continue to pay close attention to QCOM as it looks to continue its solid performance.