Investors focused on the Computer and Technology space have likely heard of Applied Materials (AMAT), but is the stock performing well in comparison to the rest of its sector peers? 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 a member of the Computer and Technology sector. This group includes 613 individual stocks and currently holds a Zacks Sector Rank of #13. 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. AMAT is currently sporting a Zacks Rank of #2 (Buy).
The Zacks Consensus Estimate for AMAT’s full-year earnings has moved 6.66% higher within the past quarter. This shows that analyst sentiment has improved and the company’s earnings outlook is stronger.
Our latest available data shows that AMAT has returned about 3.69% since the start of the calendar year. At the same time, Computer and Technology stocks have gained an average of 27.57%. This means that Applied Materials is outperforming the sector as a whole this year.
To break things down more, AMAT belongs to the Semiconductor Equipment – Wafer Fabrication industry, a group that includes 4 individual companies and currently sits at #36 in the Zacks Industry Rank. On average, this group has gained an average of 24% so far this year, meaning that AMAT is slightly underperforming its industry in terms of year-to-date returns.
Going forward, investors interested in Computer and Technology stocks should continue to pay close attention to AMAT as it looks to continue its solid performance.