Investors focused on the Computer and Technology space have likely heard of QUALCOMM (QCOM), but is the stock performing well in comparison to the rest of its sector peers? 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 a member of our Computer and Technology group, which includes 623 different companies and currently sits at #3 in the Zacks Sector Rank. The Zacks Sector Rank considers 16 different sector groups. The average Zacks Rank of the individual stocks within the groups is measured, and the sectors are listed from best to worst.
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).
Within the past quarter, the Zacks Consensus Estimate for QCOM’s full-year earnings has moved 15.05% higher. This shows that analyst sentiment has improved and the company’s earnings outlook is stronger.
According to our latest data, QCOM has moved about 13.62% on a year-to-date basis. Meanwhile, stocks in the Computer and Technology group have gained about 12.44% 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 18 individual stocks and currently sits at #54 in the Zacks Industry Rank. This group has gained an average of 20.70% so far this year, so QCOM is slightly underperforming its industry in this area.
QCOM will likely be looking to continue its solid performance, so investors interested Computer and Technology stocks should continue to pay close attention to the company.
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