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Are Computer and Technology Stocks Lagging Applied Materials (AMAT) 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 Applied Materials (AMAT - 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.
Applied Materials is a member of our Computer and Technology group, which includes 622 different companies and currently sits at #6 in the Zacks Sector Rank. The Zacks Sector Rank includes 16 different groups and is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors.
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. Applied Materials is currently sporting a Zacks Rank of #2 (Buy).
The Zacks Consensus Estimate for AMAT's full-year earnings has moved 5.9% higher within the past quarter. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.
Based on the most recent data, AMAT has returned 31.2% so far this year. In comparison, Computer and Technology companies have returned an average of 11.8%. As we can see, Applied Materials is performing better than its sector in the calendar year.
Another stock in the Computer and Technology sector, Canon (CAJPY - Free Report) , has outperformed the sector so far this year. The stock's year-to-date return is 17.6%.
The consensus estimate for Canon's current year EPS has increased 8.6% over the past three months. The stock currently has a Zacks Rank #2 (Buy).
Breaking things down more, Applied Materials is a member of the Semiconductor Equipment - Wafer Fabrication industry, which includes 4 individual companies and currently sits at #88 in the Zacks Industry Rank. This group has gained an average of 34.3% so far this year, so AMAT is slightly underperforming its industry in this area.
In contrast, Canon falls under the Office Automation and Equipment industry. Currently, this industry has 5 stocks and is ranked #212. Since the beginning of the year, the industry has moved -7.3%.
Investors with an interest in Computer and Technology stocks should continue to track Applied Materials and Canon. These stocks will be looking to continue their solid performance.
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Are Computer and Technology Stocks Lagging Applied Materials (AMAT) 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 Applied Materials (AMAT - 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.
Applied Materials is a member of our Computer and Technology group, which includes 622 different companies and currently sits at #6 in the Zacks Sector Rank. The Zacks Sector Rank includes 16 different groups and is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors.
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. Applied Materials is currently sporting a Zacks Rank of #2 (Buy).
The Zacks Consensus Estimate for AMAT's full-year earnings has moved 5.9% higher within the past quarter. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.
Based on the most recent data, AMAT has returned 31.2% so far this year. In comparison, Computer and Technology companies have returned an average of 11.8%. As we can see, Applied Materials is performing better than its sector in the calendar year.
Another stock in the Computer and Technology sector, Canon (CAJPY - Free Report) , has outperformed the sector so far this year. The stock's year-to-date return is 17.6%.
The consensus estimate for Canon's current year EPS has increased 8.6% over the past three months. The stock currently has a Zacks Rank #2 (Buy).
Breaking things down more, Applied Materials is a member of the Semiconductor Equipment - Wafer Fabrication industry, which includes 4 individual companies and currently sits at #88 in the Zacks Industry Rank. This group has gained an average of 34.3% so far this year, so AMAT is slightly underperforming its industry in this area.
In contrast, Canon falls under the Office Automation and Equipment industry. Currently, this industry has 5 stocks and is ranked #212. Since the beginning of the year, the industry has moved -7.3%.
Investors with an interest in Computer and Technology stocks should continue to track Applied Materials and Canon. These stocks will be looking to continue their solid performance.