May 27, 2024


Super Technology

Is Western Digital (WDC) Stock Outpacing Its Computer and Technology Peers This Year?

Investors interested in Computer and Technology stocks should always be looking to find the best-performing companies in the group. Western Digital (WDC) 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? One simple way to answer this question is to take a look at the year-to-date performance of WDC and the rest of the Computer and Technology group’s stocks.

Western Digital is one of 619 individual stocks in the Computer and Technology sector. Collectively, these companies sit at #11 in the Zacks Sector Rank. The Zacks Sector Rank includes 16 different groups and is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors.

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. WDC is currently sporting a Zacks Rank of #1 (Strong Buy).

Within the past quarter, the Zacks Consensus Estimate for WDC’s full-year earnings has moved 42.29% higher. This signals that analyst sentiment is improving and the stock’s earnings outlook is more positive.

According to our latest data, WDC has moved about 37.44% on a year-to-date basis. Meanwhile, stocks in the Computer and Technology group have gained about 13.69% on average. This means that Western Digital is performing better than its sector in terms of year-to-date returns.

Breaking things down more, WDC is a member of the Computer- Storage Devices industry, which includes 9 individual companies and currently sits at #181 in the Zacks Industry Rank. On average, stocks in this group have gained 25.71% this year, meaning that WDC is performing better in terms of year-to-date returns.

WDC will likely be looking to continue its solid performance, so investors interested in Computer and Technology stocks should continue to pay close attention to the company.

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