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

Zacks Equity Research
Updated
Some investors are rotating out of earlier high flying technology stocks into cheap emerging markets.

Investors interested in Computer and Technology stocks should always be looking to find the best-performing companies in the group. Is Micron Technology (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 Technology is a member of the Computer and Technology sector. This group includes 627 individual stocks and currently holds a Zacks Sector Rank of #3. The Zacks Sector Rank considers 16 different groups, measuring the average Zacks Rank of the individual stocks within the sector to gauge the strength of each group.

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. MU is currently sporting a Zacks Rank of #1 (Strong Buy).

The Zacks Consensus Estimate for MU's full-year earnings has moved 6.64% higher within the past quarter. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.

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Based on the most recent data, MU has returned 38.52% so far this year. Meanwhile, stocks in the Computer and Technology group have gained about 10.37% on average. This shows that Micron Technology is outperforming its peers so far this year.

Looking more specifically, MU belongs to the Semiconductor Memory industry, which includes 1 individual stocks and currently sits at #1 in the Zacks Industry Rank. On average, stocks in this group have gained 38.52% 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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