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Has Micron Technology (MU) Outpaced Other Computer and Technology Stocks This Year?

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Zacks Equity Research
·2 min read
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Investors focused on the Computer and Technology space have likely heard of Micron Technology (MU), but is the stock performing well in comparison to the rest of its sector peers? 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.

Micron Technology is one of 632 individual stocks in the Computer and Technology sector. Collectively, these companies sit at #9 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 is a proven model that highlights a variety of stocks with the right characteristics to outperform the market over the next one to three months. The system emphasizes earnings estimate revisions and favors companies with improving earnings outlooks. MU is currently sporting a Zacks Rank of #1 (Strong Buy).

Within the past quarter, the Zacks Consensus Estimate for MU's full-year earnings has moved 48.97% higher. This is a sign of improving analyst sentiment and a positive earnings outlook trend.

Based on the latest available data, MU has gained about 7.37% so far this year. Meanwhile, the Computer and Technology sector has returned an average of 0.38% on a year-to-date basis. As we can see, Micron Technology is performing better than its sector in the calendar year.

To break things down more, MU belongs to the Semiconductor Memory industry, a group that includes 1 individual companies and currently sits at #1 in the Zacks Industry Rank. Stocks in this group have gained about 7.37% so far this year, so MU is performing on par this group in terms of year-to-date returns.

Investors in the Computer and Technology sector will want to keep a close eye on MU as it attempts to continue its solid performance.


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Zacks Investment Research