Is Corning (GLW) Stock Outpacing Its Computer and Technology Peers 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. Corning (GLW) 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.Corning is a member of our Computer and Technology group, which includes 596 different companies and currently sits at #2 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 proven system that emphasizes earnings estimates and estimate revisions, highlighting a variety of stocks that are displaying the right characteristics to beat the market over the next one to three months. Corning is currently sporting a Zacks Rank of #2 (Buy).Over the past 90 days, the Zacks Consensus Estimate for GLW's full-year earnings has moved 3.4% higher. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.Based on the most recent data, GLW has returned 80.8% so far this year. At the same time, Computer and Technology stocks have gained an average of 11%. This means that Corning is outperforming the sector as a whole this year.Another stock in the Computer and Technology sector, Arrow Electronics (ARW), has outperformed the sector so far this year. The stock's year-to-date return is 67.5%.The consensus estimate for Arrow Electronics' current year EPS has increased 14.2% over the past three months. The stock currently has a Zacks Rank #2 (Buy).Looking more specifically, Corning belongs to the Communication - Components industry, a group that includes 13 individual stocks and currently sits at #26 in the Zacks Industry Rank. On average, stocks in this group have gained 104.2% this year, meaning that GLW is slightly underperforming its industry in terms of year-to-date returns. In contrast, Arrow Electronics falls under the Electronics - Parts Distribution industry. Currently, this industry has 4 stocks and is ranked #17. Since the beginning of the year, the industry has moved +54.8%.Going forward, investors interested in Computer and Technology stocks should continue to pay close attention to Corning and Arrow Electronics 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 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 UpThis article originally published on Zacks Investment Research (zacks.com).Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks Weiter zum vollständigen Artikel bei Zacks