Investors focused on the Computer and Technology space have likely heard of Apple (AAPL – Free Report) , 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.
Apple is one of 632 individual stocks in the Computer and Technology sector. Collectively, these companies sit at #6 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 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. AAPL is currently sporting a Zacks Rank of #2 (Buy).
Over the past 90 days, the Zacks Consensus Estimate for AAPL’s full-year earnings has moved 0.87% higher. This means that analyst sentiment is stronger and the stock’s earnings outlook is improving.
Based on the most recent data, AAPL has returned 7.71% so far this year. At the same time, Computer and Technology stocks have gained an average of 5.91%. This means that Apple is performing better than its sector in terms of year-to-date returns.
To break things down more, AAPL belongs to the Computer – Mini computers industry, a group that includes 4 individual companies and currently sits at #19 in the Zacks Industry Rank. This group has gained an average of 7.92% so far this year, so AAPL is slightly underperforming its industry in this area.
Investors in the Computer and Technology sector will want to keep a close eye on AAPL as it attempts to continue its solid performance.