Investors interested in Computer and Technology stocks should always be looking to find the best-performing companies in the group. Micron (MU) is a stock that can certainly grab the attention of many investors, but do its recent returns compare favorably to the sector as a whole? Let's take a closer look at the stock's year-to-date performance to find out.
Micron is a member of our Computer and Technology group, which includes 617 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 emphasizes earnings estimates and estimate revisions to find stocks with improving earnings outlooks. This system has a long record of success, and these stocks tend to be on track to beat the market over the next one to three months. Micron 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 141% higher. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.
According to our latest data, MU has moved about 25.9% on a year-to-date basis. Meanwhile, the Computer and Technology sector has returned an average of 18.2% on a year-to-date basis. This means that Micron is performing better than its sector in terms of year-to-date returns.
One other Computer and Technology stock that has outperformed the sector so far this year is Infosys (INFY). The stock is up 19.8% year-to-date.
For Infosys, the consensus EPS estimate for the current year has increased 1% over the past three months. The stock currently has a Zacks Rank #2 (Buy).
Breaking things down more, Micron is a member of the Semiconductor Memory industry, which includes 1 individual companies and currently sits at #1 in the Zacks Industry Rank. On average, this group has gained an average of 25.9% so far this year, meaning that MU is performing on par in terms of year-to-date returns.
Infosys, however, belongs to the Computers - IT Services industry. Currently, this 39-stock industry is ranked #93. The industry has moved +3.8% so far this year.
Investors with an interest in Computer and Technology stocks should continue to track Micron and Infosys. These stocks will be looking to continue their solid performance.
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