The Computer and Technology group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. Apple (AAPL) 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? A quick glance at the company's year-to-date performance in comparison to the rest of the Computer and Technology sector should help us answer this question.
Apple is one of 605 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. 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 5.02% higher. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.
Our latest available data shows that AAPL has returned about 49.92% since the start of the calendar year. Meanwhile, stocks in the Computer and Technology group have gained about 21.31% on average. As we can see, Apple is performing better than its sector in the calendar year.
To break things down more, AAPL belongs to the Computer - Mini computers industry, a group that includes 4 individual companies and currently sits at #18 in the Zacks Industry Rank. On average, this group has gained an average of 49.86% so far this year, meaning that AAPL is performing better in terms of year-to-date returns.
Investors with an interest in Computer and Technology stocks should continue to track AAPL. The stock will be looking to continue its solid performance.
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