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Has KLA (KLAC) Outpaced Other Computer and Technology Stocks This Year?
The Computer and Technology group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. Has KLA (KLAC - Free Report) been one of those stocks this year? Let's take a closer look at the stock's year-to-date performance to find out.
KLA is one of 630 individual stocks in the Computer and Technology sector. Collectively, these companies sit at #6 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 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. KLAC is currently sporting a Zacks Rank of #2 (Buy).
The Zacks Consensus Estimate for KLAC's full-year earnings has moved 3.84% higher within the past quarter. This is a sign of improving analyst sentiment and a positive earnings outlook trend.
According to our latest data, KLAC has moved about 86.75% on a year-to-date basis. Meanwhile, stocks in the Computer and Technology group have gained about 30.21% on average. This shows that KLA is outperforming its peers so far this year.
To break things down more, KLAC belongs to the Electronics - Miscellaneous Products industry, a group that includes 17 individual companies and currently sits at #74 in the Zacks Industry Rank. On average, stocks in this group have gained 49% this year, meaning that KLAC is performing better in terms of year-to-date returns.
Investors with an interest in Computer and Technology stocks should continue to track KLAC. The stock will be looking to continue its solid performance.