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Is Infineon Technologies (IFNNY) Outperforming Other Computer and Technology Stocks This Year?

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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. Infineon Technologies AG (IFNNY - Free Report) 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.

Infineon Technologies AG is a member of our Computer and Technology group, which includes 641 different companies and currently sits at #9 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 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 #1 (Strong Buy).

Over the past 90 days, the Zacks Consensus Estimate for IFNNY's full-year earnings has moved 17.2% higher. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.

Our latest available data shows that IFNNY has returned about 28.3% since the start of the calendar year. At the same time, Computer and Technology stocks have gained an average of 27.3%. This means that Infineon Technologies AG is outperforming the sector as a whole this year.

Another Computer and Technology stock, which has outperformed the sector so far this year, is ServiceNow (NOW - Free Report) . The stock has returned 31.4% year-to-date.

Over the past three months, ServiceNow's consensus EPS estimate for the current year has increased 18.3%. The stock currently has a Zacks Rank #1 (Strong Buy).

Looking more specifically, Infineon Technologies AG belongs to the Electronics - Semiconductors industry, which includes 40 individual stocks and currently sits at #187 in the Zacks Industry Rank. On average, this group has gained an average of 29.3% so far this year, meaning that IFNNY is slightly underperforming its industry in terms of year-to-date returns.

In contrast, ServiceNow falls under the Computers - IT Services industry. Currently, this industry has 40 stocks and is ranked #104. Since the beginning of the year, the industry has moved +5.4%.

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

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