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Is Applied Materials (AMAT) Stock Outpacing Its Computer and Technology Peers This Year?

Zacks Equity Research
·2-min read

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? 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.

Applied Materials is a member of the Computer and Technology sector. This group includes 619 individual stocks and currently holds a Zacks Sector Rank of #11. The Zacks Sector Rank considers 16 different groups, measuring the average Zacks Rank of the individual stocks within the sector to gauge the strength of each group.

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 9.23% higher within the past quarter. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.

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According to our latest data, AMAT has moved about 56.03% on a year-to-date basis. Meanwhile, the Computer and Technology sector has returned an average of 13.67% on a year-to-date basis. This means that Applied Materials is performing better than its sector in terms of year-to-date returns.

Looking more specifically, AMAT belongs to the Semiconductor Equipment - Wafer Fabrication industry, which includes 4 individual stocks and currently sits at #9 in the Zacks Industry Rank. On average, this group has gained an average of 42.36% so far this year, meaning that AMAT is performing better in terms of year-to-date returns.

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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Zacks Investment Research