Is Garmin (GRMN) Stock Outpacing Its Computer and Technology Peers This Year?

Investors interested in Computer and Technology stocks should always be looking to find the best-performing companies in the group. Is Garmin (GRMN) one of those stocks right now? 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.Garmin is a member of our Computer and Technology group, which includes 606 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. Garmin is currently sporting a Zacks Rank of #2 (Buy).Within the past quarter, the Zacks Consensus Estimate for GRMN's full-year earnings has moved 3.1% higher. This is a sign of improving analyst sentiment and a positive earnings outlook trend.Based on the latest available data, GRMN has gained about 25% so far this year. At the same time, Computer and Technology stocks have gained an average of 23.6%. This means that Garmin is outperforming the sector as a whole this year.Another stock in the Computer and Technology sector, Advantest Corp. (ATEYY), has outperformed the sector so far this year. The stock's year-to-date return is 82.5%.For Advantest Corp., the consensus EPS estimate for the current year has increased 11.7% over the past three months. The stock currently has a Zacks Rank #1 (Strong Buy).To break things down more, Garmin belongs to the Electronics - Miscellaneous Products industry, a group that includes 38 individual companies and currently sits at #48 in the Zacks Industry Rank. On average, stocks in this group have gained 35.3% this year, meaning that GRMN is slightly underperforming its industry in terms of year-to-date returns. Advantest Corp., however, belongs to the Electronics - Measuring Instruments industry. Currently, this 5-stock industry is ranked #10. The industry has moved +14.6% so far this year.Garmin and Advantest Corp. could continue their solid performance, so investors interested in Computer and Technology stocks should continue to pay close attention to these stocks.Radical New Technology Could Hand Investors Huge GainsQuantum Computing is the next technological revolution, and it could be even more advanced than AI.While some believed the technology was years away, it is already present and moving fast. Large hyperscalers, such as Microsoft, Google, Amazon, Oracle, and even Meta and Tesla, are scrambling to integrate quantum computing into their infrastructure.Senior Stock Strategist Kevin Cook reveals 7 carefully selected stocks poised to dominate the quantum computing landscape in his report, Beyond AI: The Quantum Leap in Computing Power.Kevin was among the early experts who recognized NVIDIA's enormous potential back in 2016. Now, he has keyed in on what could be "the next big thing" in quantum computing supremacy. Today, you have a rare chance to position your portfolio at the forefront of this opportunity.See Top Quantum Stocks Now >>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 Garmin Ltd. (GRMN): Free Stock Analysis Report Advantest Corp. (ATEYY): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks Weiter zum vollständigen Artikel bei Zacks