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Is Applied Materials (AMAT) Outperforming Other Computer and Technology Stocks This Year?

Zacks Equity Research
·2-min read

The Computer and Technology group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. Is Applied Materials (AMAT) one of those stocks right now? A quick glance at the company's year-to-date performance in comparison to the rest of the Computer and Technology sector should help us answer this question.

Applied Materials is one of 647 individual stocks in the Computer and Technology sector. Collectively, these companies sit at #8 in the Zacks Sector Rank. The Zacks Sector Rank gauges the strength of our 16 individual sector groups by measuring the average Zacks Rank of the individual stocks within the groups.

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. AMAT is currently sporting a Zacks Rank of #2 (Buy).

Within the past quarter, the Zacks Consensus Estimate for AMAT's full-year earnings has moved 4.46% higher. This is a sign of improving analyst sentiment and a positive earnings outlook trend.

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Our latest available data shows that AMAT has returned about 46.26% since the start of the calendar year. In comparison, Computer and Technology companies have returned an average of 19.29%. As we can see, Applied Materials is performing better than its sector in the calendar year.

Breaking things down more, AMAT is a member of the Semiconductor Equipment - Wafer Fabrication industry, which includes 4 individual companies and currently sits at #201 in the Zacks Industry Rank. This group has gained an average of 41.95% so far this year, so AMAT is performing better in this area.

Investors with an interest in Computer and Technology stocks should continue to track AMAT. The stock will be looking to continue its solid performance.


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Applied Materials, Inc. (AMAT) : Free Stock Analysis Report
 
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Zacks Investment Research