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STOCKS RISE, LED BY STELLAR ALPHABET, MICROSOFT EARNINGS

Results from 'Magnificent Seven' duo show cloud revenue boosted by strong AI demand

Is Garmin (GRMN) Outperforming Other Computer and Technology Stocks This Year?

Zacks Equity Research

The Computer and Technology group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. Is Garmin (GRMN) one of those stocks right now? By taking a look at the stock's year-to-date performance in comparison to its Computer and Technology peers, we might be able to answer that question.

Garmin is one of 629 individual stocks in the Computer and Technology sector. Collectively, these companies sit at #4 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. GRMN is currently sporting a Zacks Rank of #1 (Strong Buy).

Over the past 90 days, the Zacks Consensus Estimate for GRMN's full-year earnings has moved 6.71% higher. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.

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Based on the most recent data, GRMN has returned 51.06% so far this year. Meanwhile, the Computer and Technology sector has returned an average of 28.34% on a year-to-date basis. This means that Garmin is performing better than its sector in terms of year-to-date returns.

Breaking things down more, GRMN is a member of the Electronics - Miscellaneous Products industry, which includes 17 individual companies and currently sits at #78 in the Zacks Industry Rank.

Investors with an interest in Computer and Technology stocks should continue to track GRMN. The stock will be looking to continue its solid performance.


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Zacks Investment Research