The Computer and Technology group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. Western Digital (WDC - Free Report) is a stock that can certainly grab the attention of many investors, but do its recent returns compare favorably to the sector as a whole? One simple way to answer this question is to take a look at the year-to-date performance of WDC and the rest of the Computer and Technology group's stocks.
Western Digital is a member of our Computer and Technology group, which includes 630 different companies and currently sits at #2 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 successful stock-picking model that emphasizes earnings estimates and estimate revisions. The system highlights a number of different stocks that could be poised to outperform the broader market over the next one to three months. WDC is currently sporting a Zacks Rank of #2 (Buy).
Over the past 90 days, the Zacks Consensus Estimate for WDC's full-year earnings has moved 5.78% higher. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.
Based on the latest available data, WDC has gained about 5.94% so far this year. At the same time, Computer and Technology stocks have gained an average of 4.39%. This means that Western Digital is performing better than its sector in terms of year-to-date returns.
Looking more specifically, WDC belongs to the Computer- Storage Devices industry, which includes 8 individual stocks and currently sits at #84 in the Zacks Industry Rank. On average, this group has lost an average of 1.37% so far this year, meaning that WDC is performing better in terms of year-to-date returns.
Investors with an interest in Computer and Technology stocks should continue to track WDC. The stock will be looking to continue its solid performance.