September 25, 2020

GWSM-Tech

Digitally Yours

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

Investors interested in Computer and Technology stocks should always be looking to find the best-performing companies in the group. Has Applied Materials (AMAT) been one of those stocks this year? 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 604 individual stocks and currently holds a Zacks Sector Rank of #6. 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 successful stock-picking model that emphasizes earnings estimates and estimate revisions. The system highlights a number of different stocks that could be poised to outperform the broader market over the next one to three months. AMAT is currently sporting a Zacks Rank of #2 (Buy).

Over the past three months, the Zacks Consensus Estimate for AMAT’s full-year earnings has moved 6.66% higher. This shows that analyst sentiment has improved and the company’s earnings outlook is stronger.

According to our latest data, AMAT has moved about 6.62% on a year-to-date basis. Meanwhile, the Computer and Technology sector has returned an average of 24.43% on a year-to-date basis. This means that Applied Materials is performing better than its sector in terms of year-to-date returns.

Breaking things down more, AMAT is a member of the Semiconductor Equipment – Wafer Fabrication industry, which includes 4 individual companies and currently sits at #2 in the Zacks Industry Rank. This group has gained an average of 26.54% so far this year, so AMAT is slightly underperforming its industry in this area.

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.

Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
 
Applied Materials, Inc. (AMAT) : Free Stock Analysis Report
 
To read this article on Zacks.com click here.
 
Zacks Investment Research