When looking for strong Computer and Technology stocks, it’s important to find companies that are outperforming their peers. Applied Materials (AMAT) is a member of the Computer and Technology sector, which includes 618 individual stocks and currently holds a Zacks Sector Rank of #6. The Zacks Rank is a proven model that highlights stocks with the right characteristics to outperform the market. Applied Materials currently has a Zacks Rank of #2 (Buy).
The Zacks Consensus Estimate for AMAT’s full-year earnings has increased by 5.7% in the past quarter, signaling a positive outlook. The stock has moved about 21.9% year-to-date, outperforming the Computer and Technology sector, which has returned an average of 7.3% during the same period.
Another stock in the Computer and Technology sector that has outperformed is D-Wave Quantum Inc. (QBTS), with a year-to-date increase of 68.2%. The consensus EPS estimate for D-Wave Quantum Inc. for the current year has also increased by 35.7% in the past three months.
Applied Materials belongs to the Semiconductor Equipment – Wafer Fabrication industry, which has gained an average of 19.3% year-to-date. On the other hand, D-Wave Quantum Inc. belongs to the Internet – Software industry, which has moved +8.4% so far this year.
Both Applied Materials and D-Wave Quantum Inc. could continue their strong performance, making them worth watching for investors interested in Computer and Technology stocks.