Are Computer and Technology Stocks Lagging Arlo Technologies (ARLO) This Year?

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. Arlo Technologies (ARLO) 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? 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.Arlo Technologies is a member of the Computer and Technology sector. This group includes 604 individual stocks and currently holds a Zacks Sector Rank of #3. 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 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. Arlo Technologies is currently sporting a Zacks Rank of #1 (Strong Buy).The Zacks Consensus Estimate for ARLO's full-year earnings has moved 228.6% higher within the past quarter. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.Based on the latest available data, ARLO has gained about 26.4% so far this year. At the same time, Computer and Technology stocks have gained an average of 23.6%. This means that Arlo Technologies is outperforming the sector as a whole this year.Another Computer and Technology stock, which has outperformed the sector so far this year, is Alphabet Inc. (GOOG). The stock has returned 45.4% year-to-date.For Alphabet Inc., the consensus EPS estimate for the current year has increased 5% over the past three months. The stock currently has a Zacks Rank #2 (Buy).Breaking things down more, Arlo Technologies is a member of the Internet - Software industry, which includes 168 individual companies and currently sits at #66 in the Zacks Industry Rank. On average, stocks in this group have gained 4.4% this year, meaning that ARLO is performing better in terms of year-to-date returns. In contrast, Alphabet Inc. falls under the Internet - Services industry. Currently, this industry has 35 stocks and is ranked #79. Since the beginning of the year, the industry has moved +43.1%.Investors interested in the Computer and Technology sector may want to keep a close eye on Arlo Technologies and Alphabet Inc. as they attempt to continue their solid performance.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 Arlo Technologies, Inc. (ARLO): Free Stock Analysis Report Alphabet Inc. (GOOG): 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