Is Broadcom (AVGO) Stock Outpacing Its Computer and Technology Peers 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. Has Broadcom Inc. (AVGO) been one of those stocks this year? 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.Broadcom Inc. is a member of our Computer and Technology group, which includes 606 different companies and currently sits at #7 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 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. Broadcom Inc. is currently sporting a Zacks Rank of #2 (Buy).The Zacks Consensus Estimate for AVGO's full-year earnings has moved 5.8% higher within the past quarter. This is a sign of improving analyst sentiment and a positive earnings outlook trend.Based on the most recent data, AVGO has returned 0.3% so far this year. Meanwhile, stocks in the Computer and Technology group have lost about 2.4% on average. As we can see, Broadcom Inc. is performing better than its sector in the calendar year.Another Computer and Technology stock, which has outperformed the sector so far this year, is Adyen N.V. Unsponsored ADR (ADYEY). The stock has returned 28.2% year-to-date.Over the past three months, Adyen N.V. Unsponsored ADR's consensus EPS estimate for the current year has increased 8.3%. The stock currently has a Zacks Rank #2 (Buy).Breaking things down more, Broadcom Inc. is a member of the Electronics - Semiconductors industry, which includes 45 individual companies and currently sits at #94 in the Zacks Industry Rank. On average, this group has lost an average of 1.6% so far this year, meaning that AVGO is performing better in terms of year-to-date returns.In contrast, Adyen N.V. Unsponsored ADR falls under the Internet - Software industry. Currently, this industry has 166 stocks and is ranked #86. Since the beginning of the year, the industry has moved +9.2%.Going forward, investors interested in Computer and Technology stocks should continue to pay close attention to Broadcom Inc. and Adyen N.V. Unsponsored ADR as they could maintain their solid performance.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 among the most innovative financial firms. With a fast-growing customer base (already 50+ million) and a diverse set of cutting edge solutions, this stock is poised for big gains. 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 Adyen N.V. Unsponsored ADR (ADYEY): 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