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Is Avnet (AVT) Outperforming Other Computer and Technology Stocks This Year?

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Investors interested in Computer and Technology stocks should always be looking to find the best-performing companies in the group. Has Avnet (AVT - Free Report) been one of those stocks this year? 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.

Avnet is a member of the Computer and Technology sector. This group includes 665 individual stocks and currently holds a Zacks Sector Rank of #8. 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 successful stock-picking model that emphasizes earnings estimates and estimate revisions. The system highlights a number of different stocks that could be poised to outperform the broader market over the next one to three months. Avnet is currently sporting a Zacks Rank of #1 (Strong Buy).

Within the past quarter, the Zacks Consensus Estimate for AVT's full-year earnings has moved 25.2% higher. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.

Based on the latest available data, AVT has gained about 5.9% so far this year. In comparison, Computer and Technology companies have returned an average of -23.1%. This means that Avnet is performing better than its sector in terms of year-to-date returns.

Another stock in the Computer and Technology sector, Celestica (CLS - Free Report) , has outperformed the sector so far this year. The stock's year-to-date return is 0.9%.

In Celestica's case, the consensus EPS estimate for the current year increased 9.2% over the past three months. The stock currently has a Zacks Rank #2 (Buy).

Looking more specifically, Avnet belongs to the Electronics - Parts Distribution industry, a group that includes 4 individual stocks and currently sits at #47 in the Zacks Industry Rank. This group has lost an average of 7% so far this year, so AVT is performing better in this area.

On the other hand, Celestica belongs to the Electronics - Manufacturing Services industry. This 5-stock industry is currently ranked #21. The industry has moved -13.4% year to date.

Investors interested in the Computer and Technology sector may want to keep a close eye on Avnet and Celestica as they attempt to continue their solid performance.


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