Investors interested in Computer and Technology stocks should always be looking to find the best-performing companies in the group. Has Super Micro Computer been one of those stocks this year? Let's take a closer look at the stock's year-to-date performance to find out.
Super Micro Computer is one of 630 individual stocks in the Computer and Technology sector. Collectively, these companies sit at #8 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. SMCI is currently sporting a Zacks Rank of #2 (Buy).
Over the past 90 days, the Zacks Consensus Estimate for SMCI's full-year earnings has moved 12.64% higher. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.
According to our latest data, SMCI has moved about 29.03% on a year-to-date basis. In comparison, Computer and Technology companies have returned an average of 9.47%. This means that Super Micro Computer is outperforming the sector as a whole this year.
Looking more specifically, SMCI belongs to the Computer- Storage Devices industry, a group that includes 9 individual stocks and currently sits at #20 in the Zacks Industry Rank. Stocks in this group have gained about 20.95% so far this year, so SMCI is performing better this group in terms of year-to-date returns.
Investors with an interest in Computer and Technology stocks should continue to track SMCI. The stock will be looking to continue its solid performance.