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Is Micron Technology (MU) Outperforming Other Computer and Technology Stocks This Year?

Zacks Equity Research
Raytheon's (RTN) PATRIOT missile defense system is designed to counter threats from tactical ballistic missiles, cruise missiles and advanced fighter aircraft.

The Computer and Technology group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. Has Micron Technology (MU) 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.

Micron Technology is a member of our Computer and Technology group, which includes 632 different companies and currently sits at #7 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 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 #2 (Buy).

The Zacks Consensus Estimate for MU's full-year earnings has moved 7.91% higher within the past quarter. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.

Based on the latest available data, MU has gained about 33.03% so far this year. Meanwhile, the Computer and Technology sector has returned an average of 4.99% on a year-to-date basis. This means that Micron Technology is outperforming the sector as a whole this 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. On average, stocks in this group have gained 33.03% this year, meaning that MU is performing on par 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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