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? One simple way to answer this question is to take a look at the year-to-date performance of AAPL and the rest of the Computer and Technology group's stocks.
Apple is one of 630 individual stocks in the Computer and Technology sector. Collectively, these companies sit at #3 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. AAPL is currently sporting a Zacks Rank of #1 (Strong Buy).
Over the past three months, the Zacks Consensus Estimate for AAPL's full-year earnings has moved 1.20% higher. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.
Based on the most recent data, AAPL has returned 6.02% so far this year. Meanwhile, stocks in the Computer and Technology group have gained about 4.37% on average. This means that Apple is performing better than its sector in terms of year-to-date returns.
Looking more specifically, AAPL belongs to the Computer - Mini computers industry, which includes 4 individual stocks and currently sits at #61 in the Zacks Industry Rank. Stocks in this group have gained about 6.01% so far this year, so AAPL is performing better this group in terms of year-to-date returns.
Investors in the Computer and Technology sector will want to keep a close eye on AAPL as it attempts to continue its solid performance.