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Has Qualcomm (QCOM) Outpaced Other Computer and Technology Stocks 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. Qualcomm (QCOM - 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? 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.
Qualcomm is one of 621 companies in the Computer and Technology group. The Computer and Technology group currently sits at #8 within 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. Qualcomm is currently sporting a Zacks Rank of #2 (Buy).
The Zacks Consensus Estimate for QCOM's full-year earnings has moved 6.6% higher within the past quarter. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.
Based on the latest available data, QCOM has gained about 9.5% so far this year. In comparison, Computer and Technology companies have returned an average of 9.1%. As we can see, Qualcomm is performing better than its sector in the calendar year.
Another stock in the Computer and Technology sector, AppFolio (APPF - Free Report) , has outperformed the sector so far this year. The stock's year-to-date return is 38.4%.
Over the past three months, AppFolio's consensus EPS estimate for the current year has increased 46.3%. The stock currently has a Zacks Rank #1 (Strong Buy).
Breaking things down more, Qualcomm is a member of the Wireless Equipment industry, which includes 14 individual companies and currently sits at #167 in the Zacks Industry Rank. On average, stocks in this group have gained 5.7% this year, meaning that QCOM is performing better in terms of year-to-date returns.
In contrast, AppFolio falls under the Internet - Software industry. Currently, this industry has 146 stocks and is ranked #69. Since the beginning of the year, the industry has moved +19.3%.
Investors interested in the Computer and Technology sector may want to keep a close eye on Qualcomm and AppFolio as they attempt to continue their solid performance.
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Has Qualcomm (QCOM) Outpaced Other Computer and Technology Stocks 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. Qualcomm (QCOM - 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? 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.
Qualcomm is one of 621 companies in the Computer and Technology group. The Computer and Technology group currently sits at #8 within 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. Qualcomm is currently sporting a Zacks Rank of #2 (Buy).
The Zacks Consensus Estimate for QCOM's full-year earnings has moved 6.6% higher within the past quarter. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.
Based on the latest available data, QCOM has gained about 9.5% so far this year. In comparison, Computer and Technology companies have returned an average of 9.1%. As we can see, Qualcomm is performing better than its sector in the calendar year.
Another stock in the Computer and Technology sector, AppFolio (APPF - Free Report) , has outperformed the sector so far this year. The stock's year-to-date return is 38.4%.
Over the past three months, AppFolio's consensus EPS estimate for the current year has increased 46.3%. The stock currently has a Zacks Rank #1 (Strong Buy).
Breaking things down more, Qualcomm is a member of the Wireless Equipment industry, which includes 14 individual companies and currently sits at #167 in the Zacks Industry Rank. On average, stocks in this group have gained 5.7% this year, meaning that QCOM is performing better in terms of year-to-date returns.
In contrast, AppFolio falls under the Internet - Software industry. Currently, this industry has 146 stocks and is ranked #69. Since the beginning of the year, the industry has moved +19.3%.
Investors interested in the Computer and Technology sector may want to keep a close eye on Qualcomm and AppFolio as they attempt to continue their solid performance.