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? One simple way to answer this question is to take a look at the year-to-date performance of QCOM and the rest of the Computer and Technology group's stocks.
QUALCOMM is a member of our Computer and Technology group, which includes 629 different companies and currently sits at #6 in 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. QCOM is currently sporting a Zacks Rank of #1 (Strong Buy).
Over the past three months, the Zacks Consensus Estimate for QCOM's full-year earnings has moved 5.72% higher. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.
Our latest available data shows that QCOM has returned about 49.01% since the start of the calendar year. At the same time, Computer and Technology stocks have gained an average of 30.38%. As we can see, QUALCOMM is performing better than its sector in the calendar year.
To break things down more, QCOM belongs to the Wireless Equipment industry, a group that includes 14 individual companies and currently sits at #42 in the Zacks Industry Rank. This group has gained an average of 23.88% so far this year, so QCOM is performing better in this area.
Going forward, investors interested in Computer and Technology stocks should continue to pay close attention to QCOM as it looks to continue its solid performance.