The Computer and Technology group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. Is Applied Materials (AMAT) one of those stocks right now? By taking a look at the stock’s year-to-date performance in comparison to its Computer and Technology peers, we might be able to answer that question.
Applied Materials is one of 618 individual stocks in the Computer and Technology sector. Collectively, these companies sit at #13 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. AMAT is currently sporting a Zacks Rank of #2 (Buy).
Over the past three months, the Zacks Consensus Estimate for AMAT’s full-year earnings has moved 9.12% higher. This shows that analyst sentiment has improved and the company’s earnings outlook is stronger.
According to our latest data, AMAT has moved about 57.81% on a year-to-date basis. In comparison, Computer and Technology companies have returned an average of 17.92%. This shows that Applied Materials is outperforming its peers so far this year.
Looking more specifically, AMAT belongs to the Semiconductor Equipment – Wafer Fabrication industry, a group that includes 4 individual stocks and currently sits at #88 in the Zacks Industry Rank. Stocks in this group have gained about 43.20% so far this year, so AMAT 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 AMAT as it attempts to continue its solid performance.
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Applied Materials, Inc. (AMAT) : Free Stock Analysis Report
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