Investors focused on the Computer and Technology space have likely heard of Apple (AAPL - Free Report) , but is the stock performing well in comparison to the rest of its sector peers? Let's take a closer look at the stock's year-to-date performance to find out.
Apple is a member of the Computer and Technology sector. This group includes 596 individual stocks and currently holds a Zacks Sector Rank of #5. 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. AAPL is currently sporting a Zacks Rank of #2 (Buy).
Within the past quarter, the Zacks Consensus Estimate for AAPL's full-year earnings has moved 5.86% higher. This is a sign of improving analyst sentiment and a positive earnings outlook trend.
Based on the most recent data, AAPL has returned 26.72% so far this year. In comparison, Computer and Technology companies have returned an average of 2.57%. As we can see, Apple is performing better than its sector in the calendar year.
Breaking things down more, AAPL is a member of the Computer - Mini computers industry, which includes 3 individual companies and currently sits at #3 in the Zacks Industry Rank. Stocks in this group have gained about 27.82% so far this year, so AAPL is slightly underperforming its industry this group in terms of year-to-date returns.
Investors with an interest in Computer and Technology stocks should continue to track AAPL. The stock will be looking to continue its solid performance.