Investors focused on the Computer and Technology space have likely heard of Western Digital (WDC - Free Report) , but is the stock performing well in comparison to the rest of its sector peers? 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.
Western Digital is one of 632 companies in the Computer and Technology group. The Computer and Technology group currently sits at #7 within the Zacks Sector Rank. 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 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. WDC is currently sporting a Zacks Rank of #1 (Strong Buy).
The Zacks Consensus Estimate for WDC's full-year earnings has moved 6.09% higher within the past quarter. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.
According to our latest data, WDC has moved about 9.42% on a year-to-date basis. Meanwhile, the Computer and Technology sector has returned an average of 5.47% on a year-to-date basis. This shows that Western Digital is outperforming its peers so far this year.
To break things down more, WDC belongs to the Computer- Storage Devices industry, a group that includes 9 individual companies and currently sits at #7 in the Zacks Industry Rank. On average, this group has gained an average of 21.25% so far this year, meaning that WDC is slightly underperforming its industry in terms of year-to-date returns.
Investors in the Computer and Technology sector will want to keep a close eye on WDC as it attempts to continue its solid performance.