Investors focused on the Computer and Technology space have likely heard of Applied Materials (AMAT), 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.
Applied Materials is a member of the Computer and Technology sector. This group includes 629 individual stocks and currently holds a Zacks Sector Rank of #13. 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. AMAT is currently sporting a Zacks Rank of #2 (Buy).
The Zacks Consensus Estimate for AMAT’s full-year earnings has moved 9.51% higher within the past quarter. This is a sign of improving analyst sentiment and a positive earnings outlook trend.
Based on the most recent data, AMAT has returned 62.14% so far this year. At the same time, Computer and Technology stocks have gained an average of 22.13%. As we can see, Applied Materials is performing better than its sector in the calendar year.
Looking more specifically, AMAT belongs to the Semiconductor Equipment – Wafer Fabrication industry, which includes 4 individual stocks and currently sits at #70 in the Zacks Industry Rank. On average, this group has gained an average of 53.88% so far this year, meaning that AMAT is performing better in terms of year-to-date returns.
Going forward, investors interested in Computer and Technology stocks should continue to pay close attention to AMAT as it looks to continue its solid performance.
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Applied Materials, Inc. (AMAT) : Free Stock Analysis Report
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