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Is Applied Materials (AMAT) Stock Outpacing Its Computer and Technology Peers This Year?
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Investors focused on the Computer and Technology space have likely heard of Applied Materials (AMAT - 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.
Applied Materials is one of 646 individual stocks in the Computer and Technology sector. Collectively, these companies sit at #8 in the Zacks Sector Rank. The Zacks Sector Rank gauges the strength of our 16 individual sector groups by measuring the average Zacks Rank of the individual stocks within the groups.
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. AMAT is currently sporting a Zacks Rank of #2 (Buy).
The Zacks Consensus Estimate for AMAT's full-year earnings has moved 4.48% higher within the past quarter. This is a sign of improving analyst sentiment and a positive earnings outlook trend.
Based on the latest available data, AMAT has gained about 52.96% so far this year. At the same time, Computer and Technology stocks have gained an average of 23.08%. This means that Applied Materials is performing better than its sector in terms of year-to-date returns.
Breaking things down more, AMAT is a member of the Semiconductor Equipment - Wafer Fabrication industry, which includes 4 individual companies and currently sits at #58 in the Zacks Industry Rank. On average, this group has gained an average of 50.51% so far this year, meaning that AMAT 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 AMAT as it looks to continue its solid performance.
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Is Applied Materials (AMAT) Stock Outpacing Its Computer and Technology Peers This Year?
Investors focused on the Computer and Technology space have likely heard of Applied Materials (AMAT - 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.
Applied Materials is one of 646 individual stocks in the Computer and Technology sector. Collectively, these companies sit at #8 in the Zacks Sector Rank. The Zacks Sector Rank gauges the strength of our 16 individual sector groups by measuring the average Zacks Rank of the individual stocks within the groups.
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. AMAT is currently sporting a Zacks Rank of #2 (Buy).
The Zacks Consensus Estimate for AMAT's full-year earnings has moved 4.48% higher within the past quarter. This is a sign of improving analyst sentiment and a positive earnings outlook trend.
Based on the latest available data, AMAT has gained about 52.96% so far this year. At the same time, Computer and Technology stocks have gained an average of 23.08%. This means that Applied Materials is performing better than its sector in terms of year-to-date returns.
Breaking things down more, AMAT is a member of the Semiconductor Equipment - Wafer Fabrication industry, which includes 4 individual companies and currently sits at #58 in the Zacks Industry Rank. On average, this group has gained an average of 50.51% so far this year, meaning that AMAT 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 AMAT as it looks to continue its solid performance.