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. Apple (AAPL) 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 AAPL and the rest of the Computer and Technology group's stocks.
Apple is one of 601 individual stocks in the Computer and Technology sector. Collectively, these companies sit at #8 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 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. AAPL is currently sporting a Zacks Rank of #2 (Buy).
Over the past three months, the Zacks Consensus Estimate for AAPL's full-year earnings has moved 5.14% higher. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.
Our latest available data shows that AAPL has returned about 47.41% since the start of the calendar year. In comparison, Computer and Technology companies have returned an average of 18.48%. 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 #37 in the Zacks Industry Rank. This group has gained an average of 47.28% so far this year, so AAPL is performing better in this area.
AAPL 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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