Investors interested in Computer and Technology stocks should always be looking to find the best-performing companies in the group. Alphabet (GOOGL) 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? One simple way to answer this question is to take a look at the year-to-date performance of GOOGL and the rest of the Computer and Technology group’s stocks.
Alphabet is one of 632 individual stocks in the Computer and Technology sector. Collectively, these companies sit at #7 in the Zacks Sector Rank. 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 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. GOOGL is currently sporting a Zacks Rank of #2 (Buy).
Over the past three months, the Zacks Consensus Estimate for GOOGL’s full-year earnings has moved 15.91% higher. This signals that analyst sentiment is improving and the stock’s earnings outlook is more positive.
Based on the most recent data, GOOGL has returned 30.85% so far this year. Meanwhile, the Computer and Technology sector has returned an average of 0% on a year-to-date basis. This means that Alphabet is performing better than its sector in terms of year-to-date returns.
Looking more specifically, GOOGL belongs to the Internet – Services industry, which includes 50 individual stocks and currently sits at #127 in the Zacks Industry Rank.
GOOGL will likely be looking to continue its solid performance, so investors interested in Computer and Technology stocks should continue to pay close attention to the company.
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