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Has GlobalFoundries Inc. (GFS) Outpaced Other Computer and Technology Stocks This Year?

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The Computer and Technology group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. Is GlobalFoundries Inc. (GFS - 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.

GlobalFoundries Inc. is a member of our Computer and Technology group, which includes 665 different companies and currently sits at #10 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. GlobalFoundries Inc. is currently sporting a Zacks Rank of #2 (Buy).

The Zacks Consensus Estimate for GFS' full-year earnings has moved 9.8% higher within the past quarter. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.

According to our latest data, GFS has moved about 1.3% on a year-to-date basis. Meanwhile, stocks in the Computer and Technology group have lost about 18.3% on average. This means that GlobalFoundries Inc. is performing better than its sector in terms of year-to-date returns.

Another Computer and Technology stock, which has outperformed the sector so far this year, is Sierra Wireless . The stock has returned 0.1% year-to-date.

Over the past three months, Sierra Wireless' consensus EPS estimate for the current year has increased 37.2%. The stock currently has a Zacks Rank #2 (Buy).

Looking more specifically, GlobalFoundries Inc. belongs to the Electronics - Semiconductors industry, a group that includes 43 individual stocks and currently sits at #54 in the Zacks Industry Rank. This group has lost an average of 16.7% so far this year, so GFS is performing better in this area.

In contrast, Sierra Wireless falls under the Wireless Equipment industry. Currently, this industry has 16 stocks and is ranked #106. Since the beginning of the year, the industry has moved -18.8%.

Going forward, investors interested in Computer and Technology stocks should continue to pay close attention to GlobalFoundries Inc. and Sierra Wireless as they could maintain their solid performance.


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