Has Apple (AAPL) Outpaced Other Computer and Technology Stocks This Year?
Investors focused on the Computer and Technology space have likely heard of Apple (AAPL), 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 603 companies in the Computer and Technology group. The Computer and Technology group currently sits at #7 within 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 #2 (Buy).
Within the past quarter, the Zacks Consensus Estimate for AAPL’s full-year earnings has moved 5.10% higher. This means that analyst sentiment is stronger and the stock’s earnings outlook is improving.
According to our latest data, AAPL has moved about 53.68% on a year-to-date basis. In comparison, Computer and Technology companies have returned an average of 20.21%. This means that Apple is outperforming the sector as a whole this year.
Breaking things down more, AAPL is a member of the Computer – Mini computers industry, which includes 4 individual companies and currently sits at #36 in the Zacks Industry Rank. This group has gained an average of 53.19% so far this year, so AAPL is performing better in this area.
Going forward, investors interested in Computer and Technology stocks should continue to pay close attention to AAPL as it looks to continue its solid performance.
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