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Is Apple (AAPL) Stock Outpacing Its Computer and Technology Peers This Year?
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 Apple (AAPL - Free Report) one of those stocks right now? Let's take a closer look at the stock's year-to-date performance to find out.
Apple is a member of our Computer and Technology group, which includes 665 different companies and currently sits at #8 in 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 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. Apple is currently sporting a Zacks Rank of #2 (Buy).
Over the past three months, the Zacks Consensus Estimate for AAPL's full-year earnings has moved 2% higher. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.
Based on the latest available data, AAPL has gained about 33.8% so far this year. At the same time, Computer and Technology stocks have an average of 0%. As we can see, Apple is performing better than its sector in the calendar year.
Airbnb, Inc. (ABNB - Free Report) is another Computer and Technology stock that has outperformed the sector so far this year. Since the beginning of the year, the stock has returned 13.4%.
For Airbnb, Inc. the consensus EPS estimate for the current year has increased 246.4% over the past three months. The stock currently has a Zacks Rank #2 (Buy).
Breaking things down more, Apple is a member of the Computer - Mini computers industry, which includes 4 individual companies and currently sits at #27 in the Zacks Industry Rank.
Airbnb, Inc. however, belongs to the Internet - Content industry. Currently, this 19-stock industry is ranked #183. The industry has moved 0% so far this year.
Investors interested in the Computer and Technology sector may want to keep a close eye on Apple and Airbnb, Inc. as they attempt to continue their solid performance.