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Is ASE Technology Hldg (ASX) Stock Outpacing Its Computer and Technology Peers This Year?

Zacks Equity Research
·2-min read

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. Has ASE Technology Hldg (ASX) 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.

ASE Technology Hldg is a member of our Computer and Technology group, which includes 646 different companies and currently sits at #8 in the Zacks Sector Rank. The Zacks Sector Rank gauges the strength of our 16 individual sector groups by measuring the average Zacks Rank of the individual stocks within the groups.

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. ASE Technology Hldg is currently sporting a Zacks Rank of #2 (Buy).

The Zacks Consensus Estimate for ASX's full-year earnings has moved 7% higher within the past quarter. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.

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Based on the most recent data, ASX has returned 33.9% so far this year. Meanwhile, the Computer and Technology sector has returned an average of 28.3% on a year-to-date basis. As we can see, ASE Technology Hldg 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 BlackBerry (BB). The stock has returned 41.8% year-to-date.

Over the past three months, BlackBerry's consensus EPS estimate for the current year has increased 25.9%. The stock currently has a Zacks Rank #2 (Buy).

Breaking things down more, ASE Technology Hldg is a member of the Electronics - Semiconductors industry, which includes 40 individual companies and currently sits at #47 in the Zacks Industry Rank. Stocks in this group have gained about 51.1% so far this year, so ASX is slightly underperforming its industry this group in terms of year-to-date returns.

On the other hand, BlackBerry belongs to the Computer - Software industry. This 39-stock industry is currently ranked #93. The industry has moved +42.1% year to date.

Going forward, investors interested in Computer and Technology stocks should continue to pay close attention to ASE Technology Hldg and BlackBerry as they could maintain their solid performance.


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