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Is Broadcom (AVGO) Stock Outpacing Its Computer and Technology Peers 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. Broadcom Inc. (AVGO - Free Report) is a stock that can certainly grab the attention of many investors, but do its recent returns compare favorably to the sector as a whole? Let's take a closer look at the stock's year-to-date performance to find out.
Broadcom Inc. is a member of the Computer and Technology sector. This group includes 631 individual stocks and currently holds a Zacks Sector Rank of #8. The Zacks Sector Rank considers 16 different groups, measuring the average Zacks Rank of the individual stocks within the sector to gauge the strength of each group.
The Zacks Rank emphasizes earnings estimates and estimate revisions to find stocks with improving earnings outlooks. This system has a long record of success, and these stocks tend to be on track to beat the market over the next one to three months. Broadcom Inc. is currently sporting a Zacks Rank of #2 (Buy).
Over the past three months, the Zacks Consensus Estimate for AVGO's full-year earnings has moved 0.2% higher. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.
Based on the most recent data, AVGO has returned 59.6% so far this year. In comparison, Computer and Technology companies have returned an average of 40.9%. This means that Broadcom Inc. 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 BlackBerry (BB - Free Report) . The stock is up 69.3% year-to-date.
The consensus estimate for BlackBerry's current year EPS has increased 97.4% over the past three months. The stock currently has a Zacks Rank #1 (Strong Buy).
To break things down more, Broadcom Inc. belongs to the Electronics - Semiconductors industry, a group that includes 41 individual companies and currently sits at #162 in the Zacks Industry Rank. Stocks in this group have gained about 47.5% so far this year, so AVGO is performing better this group in terms of year-to-date returns.
BlackBerry, however, belongs to the Computer - Software industry. Currently, this 39-stock industry is ranked #98. The industry has moved +40.7% so far this year.
Broadcom Inc. and BlackBerry could continue their solid performance, so investors interested in Computer and Technology stocks should continue to pay close attention to these stocks.
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Is Broadcom (AVGO) Stock Outpacing Its Computer and Technology Peers This Year?
Investors interested in Computer and Technology stocks should always be looking to find the best-performing companies in the group. Broadcom Inc. (AVGO - Free Report) is a stock that can certainly grab the attention of many investors, but do its recent returns compare favorably to the sector as a whole? Let's take a closer look at the stock's year-to-date performance to find out.
Broadcom Inc. is a member of the Computer and Technology sector. This group includes 631 individual stocks and currently holds a Zacks Sector Rank of #8. The Zacks Sector Rank considers 16 different groups, measuring the average Zacks Rank of the individual stocks within the sector to gauge the strength of each group.
The Zacks Rank emphasizes earnings estimates and estimate revisions to find stocks with improving earnings outlooks. This system has a long record of success, and these stocks tend to be on track to beat the market over the next one to three months. Broadcom Inc. is currently sporting a Zacks Rank of #2 (Buy).
Over the past three months, the Zacks Consensus Estimate for AVGO's full-year earnings has moved 0.2% higher. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.
Based on the most recent data, AVGO has returned 59.6% so far this year. In comparison, Computer and Technology companies have returned an average of 40.9%. This means that Broadcom Inc. 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 BlackBerry (BB - Free Report) . The stock is up 69.3% year-to-date.
The consensus estimate for BlackBerry's current year EPS has increased 97.4% over the past three months. The stock currently has a Zacks Rank #1 (Strong Buy).
To break things down more, Broadcom Inc. belongs to the Electronics - Semiconductors industry, a group that includes 41 individual companies and currently sits at #162 in the Zacks Industry Rank. Stocks in this group have gained about 47.5% so far this year, so AVGO is performing better this group in terms of year-to-date returns.
BlackBerry, however, belongs to the Computer - Software industry. Currently, this 39-stock industry is ranked #98. The industry has moved +40.7% so far this year.
Broadcom Inc. and BlackBerry could continue their solid performance, so investors interested in Computer and Technology stocks should continue to pay close attention to these stocks.