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Has Universal Display (OLED) Outpaced Other Computer and Technology Stocks This Year?


Investors focused on the Computer and Technology space have likely heard of Universal Display (OLED), but is the stock performing well in comparison to the rest of its sector peers? Let’s take a closer look at the stock’s year-to-date performance to find out.

Universal Display is a member of our Computer and Technology group, which includes 638 different companies and currently sits at #6 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. OLED is currently sporting a Zacks Rank of #1 (Strong Buy).

Within the past quarter, the Zacks Consensus Estimate for OLED’s full-year earnings has moved 23.51% higher. This means that analyst sentiment is stronger and the stock’s earnings outlook is improving.

Based on the latest available data, OLED has gained about 78.41% so far this year. Meanwhile, the Computer and Technology sector has returned an average of 18.20% on a year-to-date basis. This means that Universal Display is performing better than its sector in terms of year-to-date returns.

Looking more specifically, OLED belongs to the Electronics – Miscellaneous Components industry, which includes 32 individual stocks and currently sits at #157 in the Zacks Industry Rank. Stocks in this group have gained about 23.37% so far this year, so OLED is performing better this group in terms of year-to-date returns.

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

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Zacks Investment Research
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