Are Computer and Technology Stocks Lagging InterDigital (IDCC) 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. InterDigital (IDCC) 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.InterDigital is a member of the Computer and Technology sector. This group includes 604 individual stocks and currently holds a Zacks Sector Rank of #2. 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. InterDigital is currently sporting a Zacks Rank of #2 (Buy).The Zacks Consensus Estimate for IDCC's full-year earnings has moved 1.9% higher within the past quarter. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.Based on the latest available data, IDCC has gained about 78.6% so far this year. Meanwhile, the Computer and Technology sector has returned an average of 23.3% on a year-to-date basis. This shows that InterDigital is outperforming its peers so far this year.Another stock in the Computer and Technology sector, Corning (GLW), has outperformed the sector so far this year. The stock's year-to-date return is 73.3%.In Corning's case, the consensus EPS estimate for the current year increased 2.1% over the past three months. The stock currently has a Zacks Rank #2 (Buy).Looking more specifically, InterDigital belongs to the Wireless Equipment industry, a group that includes 11 individual stocks and currently sits at #35 in the Zacks Industry Rank. On average, stocks in this group have gained 26.1% this year, meaning that IDCC is performing better in terms of year-to-date returns. In contrast, Corning falls under the Communication - Components industry. Currently, this industry has 11 stocks and is ranked #36. Since the beginning of the year, the industry has moved +114.5%.InterDigital and Corning could continue their solid performance, so investors interested in Computer and Technology stocks should continue to pay close attention to these stocks.Zacks' Research Chief Names "Stock Most Likely to Double"Our team of experts has just released the 5 stocks with the greatest probability of gaining +100% or more in the coming months. Of those 5, Director of Research Sheraz Mian highlights the one stock set to climb highest.This top pick is a little-known satellite-based communications firm. Space is projected to become a trillion dollar industry, and this company's customer base is growing fast. Analysts have forecasted a major revenue breakout in 2025. Of course, all our elite picks aren't winners but this one could far surpass earlier Zacks' Stocks Set to Double like Hims & Hers Health, which shot up +209%.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 InterDigital, Inc. (IDCC): Free Stock Analysis Report Corning Incorporated (GLW): 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