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Has Infineon Technologies (IFNNY) Outpaced Other Computer and Technology Stocks This Year?

For those looking to find strong Computer and Technology stocks, it is prudent to search for companies in the group that are outperforming their peers. Has Infineon Technologies AG (IFNNY) 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.

Infineon Technologies AG is one of 646 companies in the Computer and Technology group. The Computer and Technology group currently sits at #7 within 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. Infineon Technologies AG is currently sporting a Zacks Rank of #2 (Buy).

The Zacks Consensus Estimate for IFNNY's full-year earnings has moved 8.2% 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, IFNNY has returned 24.4% so far this year. At the same time, Computer and Technology stocks have gained an average of 16.8%. As we can see, Infineon Technologies AG is performing better than its sector in the calendar year.

New Relic (NEWR) is another Computer and Technology stock that has outperformed the sector so far this year. Since the beginning of the year, the stock has returned 23.5%.

For New Relic, the consensus EPS estimate for the current year has increased 15.6% over the past three months. The stock currently has a Zacks Rank #2 (Buy).

Breaking things down more, Infineon Technologies AG is a member of the Electronics - Semiconductors industry, which includes 39 individual companies and currently sits at #98 in the Zacks Industry Rank. On average, stocks in this group have gained 23.9% this year, meaning that IFNNY is performing better in terms of year-to-date returns.

In contrast, New Relic falls under the Internet - Software industry. Currently, this industry has 146 stocks and is ranked #59. Since the beginning of the year, the industry has moved +24.2%.

Investors with an interest in Computer and Technology stocks should continue to track Infineon Technologies AG and New Relic. These stocks will be looking to continue their solid performance.

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Infineon Technologies AG (IFNNY) : Free Stock Analysis Report

New Relic, Inc. (NEWR) : Free Stock Analysis Report

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Zacks Investment Research