For those looking to find strong Computer and Technology stocks, it is prudent to search for companies in the group that are outperforming their peers. Is Advanced Energy Industries (AEIS) 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.
Advanced Energy Industries is one of 594 individual stocks in the Computer and Technology sector. Collectively, these companies sit at #2 in the Zacks Sector Rank. The Zacks Sector Rank includes 16 different groups and is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors.
The Zacks Rank is a proven system that emphasizes earnings estimates and estimate revisions, highlighting a variety of stocks that are displaying the right characteristics to beat the market over the next one to three months. Advanced Energy Industries is currently sporting a Zacks Rank of #1 (Strong Buy).
Over the past three months, the Zacks Consensus Estimate for AEIS' full-year earnings has moved 7.3% higher. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.
Based on the most recent data, AEIS has returned 54.5% so far this year. Meanwhile, stocks in the Computer and Technology group have gained about 16.9% on average. This means that Advanced Energy Industries is performing better than its sector in terms of year-to-date returns.
ASML (ASML) is another Computer and Technology stock that has outperformed the sector so far this year. Since the beginning of the year, the stock has returned 40.4%.
The consensus estimate for ASML's current year EPS has increased 10.3% over the past three months. The stock currently has a Zacks Rank #2 (Buy).
To break things down more, Advanced Energy Industries belongs to the Semiconductor Equipment - Wafer Fabrication industry, a group that includes 2 individual companies and currently sits at #5 in the Zacks Industry Rank. On average, stocks in this group have gained 40.6% this year, meaning that AEIS is performing better in terms of year-to-date returns. ASML is also part of the same industry.
Advanced Energy Industries and ASML could continue their solid performance, so investors interested in Computer and Technology stocks should continue to pay close attention to these stocks.
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Advanced Energy Industries, Inc. (AEIS): Free Stock Analysis Report
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This article originally published on Zacks Investment Research (zacks.com).