Has QUALCOMM (QCOM) Outpaced Other Computer and Technology Stocks This Year?
Investors focused on the Computer and Technology space have likely heard of QUALCOMM (QCOM), 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 QCOM and the rest of the Computer and Technology group's stocks.
QUALCOMM is one of 601 companies in the Computer and Technology group. The Computer and Technology group currently sits at #9 within 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 system that emphasizes earnings estimates and estimate revisions, highlighting a variety of stocks that are displaying the right characteristics to beat the market over the next one to three months. QCOM is currently sporting a Zacks Rank of #2 (Buy).
Within the past quarter, the Zacks Consensus Estimate for QCOM's full-year earnings has moved 3.85% higher. This is a sign of improving analyst sentiment and a positive earnings outlook trend.
Based on the latest available data, QCOM has gained about 29% so far this year. At the same time, Computer and Technology stocks have gained an average of 21.48%. This means that QUALCOMM is performing better than its sector in terms of year-to-date returns.
To break things down more, QCOM belongs to the Wireless Equipment industry, a group that includes 15 individual companies and currently sits at #192 in the Zacks Industry Rank. This group has gained an average of 15.34% so far this year, so QCOM is performing better in this area.
Investors in the Computer and Technology sector will want to keep a close eye on QCOM as it attempts to continue its solid performance.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.