Investors interested in Computer and Technology stocks should always be looking to find the best-performing companies in the group. QUALCOMM (QCOM) is a stock that can certainly grab the attention of many investors, but do its recent returns compare favorably to the sector as a whole? 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.
QUALCOMM is one of 630 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 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. QCOM is currently sporting a Zacks Rank of #2 (Buy).
Over the past 90 days, the Zacks Consensus Estimate for QCOM's full-year earnings has moved 5.75% higher. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.
According to our latest data, QCOM has moved about 2.64% on a year-to-date basis. Meanwhile, stocks in the Computer and Technology group have gained about 10.27% on average. This means that QUALCOMM is performing better than its sector in terms of year-to-date returns.
Looking more specifically, QCOM belongs to the Wireless Equipment industry, which includes 15 individual stocks and currently sits at #77 in the Zacks Industry Rank. On average, this group has gained an average of 3.15% so far this year, meaning that QCOM is slightly underperforming its industry in terms of year-to-date returns.
Investors in the Computer and Technology sector will want to keep a close eye on QCOM as it attempts to continue its solid performance.