For those looking to find strong Computer and Technology stocks, it is prudent to search for companies in the group that are outperforming their peers. Is Western Digital (WDC) 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.
Western Digital is a member of the Computer and Technology sector. This group includes 618 individual stocks and currently holds a Zacks Sector Rank of #12. 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 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 #1 (Strong Buy).
The Zacks Consensus Estimate for WDC’s full-year earnings has moved 35.02% higher within the past quarter. This signals that analyst sentiment is improving and the stock’s earnings outlook is more positive.
Our latest available data shows that WDC has returned about 25% since the start of the calendar year. In comparison, Computer and Technology companies have returned an average of 17.32%. This means that Western Digital is outperforming the sector as a whole this year.
Looking more specifically, WDC belongs to the Computer- Storage Devices industry, a group that includes 9 individual stocks and currently sits at #182 in the Zacks Industry Rank. Stocks in this group have gained about 20.32% so far this year, so WDC is performing better this group in terms of year-to-date returns.
Going forward, investors interested in Computer and Technology stocks should continue to pay close attention to WDC as it looks to continue its solid performance.