Yahoo Finance Is Micron Technology (MU) Outperforming Other Computer and Technology Stocks This Year?
Investors interested in Computer and Technology stocks should always be looking to find the best-performing companies in the group. Is Micron (MU) one of those stocks right now? 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 is a member of our Computer and Technology group, which includes 618 different companies and currently sits at #11 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 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. Micron is currently sporting a Zacks Rank of #2 (Buy).
Over the past 90 days, the Zacks Consensus Estimate for MU's full-year earnings has moved 129.2% 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 51.7% so far this year. Meanwhile, stocks in the Computer and Technology group have gained about 17.8% on average. This means that Micron is outperforming the sector as a whole this year.
Another stock in the Computer and Technology sector, Inseego (INSG), has outperformed the sector so far this year. The stock's year-to-date return is 241.2%.
In Inseego's case, the consensus EPS estimate for the current year increased 80.8% over the past three months. The stock currently has a Zacks Rank #2 (Buy).
Looking more specifically, Micron belongs to the Semiconductor Memory industry, which includes 1 individual stocks and currently sits at #2 in the Zacks Industry Rank. Stocks in this group have gained about 51.7% so far this year, so MU is performing on par this group in terms of year-to-date returns.
In contrast, Inseego falls under the Internet - Software industry. Currently, this industry has 138 stocks and is ranked #60. Since the beginning of the year, the industry has moved +12.9%.
Investors interested in the Computer and Technology sector may want to keep a close eye on Micron and Inseego as they attempt to continue their solid performance.
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Micron Technology, Inc. (MU) : Free Stock Analysis Report
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