Has Broadcom (AVGO) Outpaced Other Computer and Technology Stocks This Year?

The Computer and Technology group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. Broadcom Inc. (AVGO) 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? By taking a look at the stock's year-to-date performance in comparison to its Computer and Technology peers, we might be able to answer that question.Broadcom Inc. is a member of our Computer and Technology group, which includes 619 different companies and currently sits at #2 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 emphasizes earnings estimates and estimate revisions to find stocks with improving earnings outlooks. This system has a long record of success, and these stocks tend to be on track to beat the market over the next one to three months. Broadcom Inc. is currently sporting a Zacks Rank of #2 (Buy).The Zacks Consensus Estimate for AVGO's full-year earnings has moved 5% higher within the past quarter. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.According to our latest data, AVGO has moved about 46.3% on a year-to-date basis. Meanwhile, the Computer and Technology sector has returned an average of 28.4% on a year-to-date basis. This shows that Broadcom Inc. is outperforming its peers so far this year.One other Computer and Technology stock that has outperformed the sector so far this year is American Superconductor (AMSC). The stock is up 179.7% year-to-date.The consensus estimate for American Superconductor's current year EPS has increased 117.7% over the past three months. The stock currently has a Zacks Rank #1 (Strong Buy).Breaking things down more, Broadcom Inc. is a member of the Electronics - Semiconductors industry, which includes 44 individual companies and currently sits at #146 in the Zacks Industry Rank. This group has gained an average of 42.8% so far this year, so AVGO is performing better in this area.In contrast, American Superconductor falls under the Electronics - Miscellaneous Components industry. Currently, this industry has 28 stocks and is ranked #52. Since the beginning of the year, the industry has moved +7.6%.Broadcom Inc. and American Superconductor could continue their solid performance, so investors interested in Computer and Technology stocks should continue to pay close attention to these stocks.Research Chief Names "Single Best Pick to Double"From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.This company targets millennial and Gen Z audiences, generating nearly $1 billion in revenue last quarter alone. A recent pullback makes now an ideal time to jump aboard. Of course, all our elite picks aren’t winners but this one could far surpass earlier Zacks’ Stocks Set to Double like Nano-X Imaging which shot up +129.6% in little more than 9 months.Free: See Our Top Stock And 4 Runners UpWant 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 Broadcom Inc. (AVGO): Free Stock Analysis Report American Superconductor Corporation (AMSC): Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks Weiter zum vollständigen Artikel bei Zacks