Back to top

Image: Bigstock

Has Nokia (NOK) Outpaced Other Computer and Technology Stocks This Year?

Read MoreHide Full Article

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. Is Nokia (NOK - Free Report) one of those stocks right now? A quick glance at the company's year-to-date performance in comparison to the rest of the Computer and Technology sector should help us answer this question.

Nokia is one of 623 companies in the Computer and Technology group. The Computer and Technology group currently sits at #10 within the Zacks Sector Rank. 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. NOK is currently sporting a Zacks Rank of #2 (Buy).

Within the past quarter, the Zacks Consensus Estimate for NOK's full-year earnings has moved 3.57% higher. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.

According to our latest data, NOK has moved about 5.63% on a year-to-date basis. Meanwhile, the Computer and Technology sector has returned an average of 12.96% on a year-to-date basis. This shows that Nokia is outperforming its peers so far this year.

Breaking things down more, NOK is a member of the Wireless Equipment industry, which includes 16 individual companies and currently sits at #81 in the Zacks Industry Rank. On average, stocks in this group have lost 2.37% this year, meaning that NOK is performing better in terms of year-to-date returns.

Going forward, investors interested in Computer and Technology stocks should continue to pay close attention to NOK as it looks to continue its solid performance.


In-Depth Zacks Research for the Tickers Above


Normally $25 each - click below to receive one report FREE:


Nokia Corporation (NOK) - free report >>

Published in