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Are Computer and Technology Stocks Lagging Meta Platforms (META) This Year?
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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 Meta Platforms (META - 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.
Meta Platforms is one of 646 individual stocks in the Computer and Technology sector. Collectively, these companies sit at #5 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. Meta Platforms is currently sporting a Zacks Rank of #1 (Strong Buy).
Over the past 90 days, the Zacks Consensus Estimate for META's full-year earnings has moved 26.7% higher. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.
Based on the most recent data, META has returned 66.8% so far this year. Meanwhile, stocks in the Computer and Technology group have gained about 16.1% on average. This means that Meta Platforms is outperforming the sector as a whole this year.
One other Computer and Technology stock that has outperformed the sector so far this year is AU Optronics (AUOTY - Free Report) . The stock is up 29.1% year-to-date.
Over the past three months, AU Optronics' consensus EPS estimate for the current year has increased 4.3%. The stock currently has a Zacks Rank #2 (Buy).
Looking more specifically, Meta Platforms belongs to the Internet - Software industry, which includes 146 individual stocks and currently sits at #53 in the Zacks Industry Rank. On average, stocks in this group have gained 22.5% this year, meaning that META is performing better in terms of year-to-date returns.
In contrast, AU Optronics falls under the Electronics - Miscellaneous Components industry. Currently, this industry has 28 stocks and is ranked #156. Since the beginning of the year, the industry has moved +8.4%.
Going forward, investors interested in Computer and Technology stocks should continue to pay close attention to Meta Platforms and AU Optronics as they could maintain their solid performance.
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Are Computer and Technology Stocks Lagging Meta Platforms (META) 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 Meta Platforms (META - 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.
Meta Platforms is one of 646 individual stocks in the Computer and Technology sector. Collectively, these companies sit at #5 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. Meta Platforms is currently sporting a Zacks Rank of #1 (Strong Buy).
Over the past 90 days, the Zacks Consensus Estimate for META's full-year earnings has moved 26.7% higher. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.
Based on the most recent data, META has returned 66.8% so far this year. Meanwhile, stocks in the Computer and Technology group have gained about 16.1% on average. This means that Meta Platforms is outperforming the sector as a whole this year.
One other Computer and Technology stock that has outperformed the sector so far this year is AU Optronics (AUOTY - Free Report) . The stock is up 29.1% year-to-date.
Over the past three months, AU Optronics' consensus EPS estimate for the current year has increased 4.3%. The stock currently has a Zacks Rank #2 (Buy).
Looking more specifically, Meta Platforms belongs to the Internet - Software industry, which includes 146 individual stocks and currently sits at #53 in the Zacks Industry Rank. On average, stocks in this group have gained 22.5% this year, meaning that META is performing better in terms of year-to-date returns.
In contrast, AU Optronics falls under the Electronics - Miscellaneous Components industry. Currently, this industry has 28 stocks and is ranked #156. Since the beginning of the year, the industry has moved +8.4%.
Going forward, investors interested in Computer and Technology stocks should continue to pay close attention to Meta Platforms and AU Optronics as they could maintain their solid performance.