Has Micron Technology (MU) Outpaced Other Computer and Technology Stocks This Year?
The Computer and Technology group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. Is Micron Technology (MU) one of those stocks right now? By taking a look at the stock's year-to-date performance in comparison to its Computer and Technology peers, we might be able to answer that question.
Micron Technology is a member of the Computer and Technology sector. This group includes 625 individual stocks and currently holds a Zacks Sector Rank of #10. 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. MU is currently sporting a Zacks Rank of #1 (Strong Buy).
The Zacks Consensus Estimate for MU's full-year earnings has moved 42.45% higher within the past quarter. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.
According to our latest data, MU has moved about 26.76% on a year-to-date basis. In comparison, Computer and Technology companies have returned an average of 10.33%. This means that Micron Technology is outperforming the sector as a whole this year.
Breaking things down more, MU is a member of the Semiconductor Memory industry, which includes 1 individual companies and currently sits at #1 in the Zacks Industry Rank. Stocks in this group have gained about 26.76% so far this year, so MU is performing on par this group in terms of year-to-date returns.
MU will likely be looking to continue its solid performance, so investors interested in Computer and Technology stocks should continue to pay close attention to the company.
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