Investors focused on the Computer and Technology space have likely heard of QUALCOMM (QCOM - 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.
QUALCOMM is one of 627 individual stocks in the Computer and Technology sector. Collectively, these companies sit at #3 in 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 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. QCOM is currently sporting a Zacks Rank of #2 (Buy).
The Zacks Consensus Estimate for QCOM's full-year earnings has moved 15.09% higher within the past quarter. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.
Our latest available data shows that QCOM has returned about 2.67% since the start of the calendar year. Meanwhile, the Computer and Technology sector has returned an average of 10.40% on a year-to-date basis. As we can see, QUALCOMM is performing better than its sector in the calendar year.
Breaking things down more, QCOM is a member of the Wireless Equipment industry, which includes 18 individual companies and currently sits at #25 in the Zacks Industry Rank. Stocks in this group have gained about 10.38% so far this year, so QCOM is slightly underperforming its industry this group in terms of year-to-date returns.
Investors in the Computer and Technology sector will want to keep a close eye on QCOM as it attempts to continue its solid performance.