Has Apple (AAPL) Outpaced Other Computer and Technology Stocks This Year?

Investors focused on the Computer and Technology space have likely heard of Apple (NASDAQ:AAPL), but is the stock performing well in comparison to the rest of its sector peers? Let’s take a closer look at the stock’s year-to-date performance to find out.

Has Apple (AAPL) Outpaced Other Computer and Technology Stocks This Year?
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Apple is one of 627 companies in the Computer and Technology group. The Computer and Technology group currently sits at #3 within the Zacks Sector Rank. 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 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. AAPL is currently sporting a Zacks Rank of #2 (Buy).

Within the past quarter, the Zacks Consensus Estimate for AAPL’s full-year earnings has moved 2.45% higher. This signals that analyst sentiment is improving and the stock’s earnings outlook is more positive.

According to our latest data, AAPL has moved about 22.90% on a year-to-date basis. At the same time, Computer and Technology stocks have gained an average of 10.11%. As we can see, Apple is performing better than its sector in the calendar year.

Looking more specifically, AAPL belongs to the Computer – Mini computers industry, which includes 4 individual stocks and currently sits at #63 in the Zacks Industry Rank. On average, this group has gained an average of 24.14% so far this year, meaning that AAPL is slightly underperforming its industry in terms of year-to-date returns.

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

Article printed from InvestorPlace Media, https://investorplace.com/2018/08/apple-aapl-outpaced-other-computer-technology-stocks-ggsyn/.

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