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Apple (AAPL) Gains But Lags Market: What You Should Know
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Apple (AAPL - Free Report) closed the most recent trading day at $191.08, moving +0.59% from the previous trading session. This change lagged the S&P 500's 1.16% gain on the day. Meanwhile, the Dow gained 1.27%, and the Nasdaq, a tech-heavy index, added 1.29%.
Heading into today, shares of the maker of iPhones, iPads and other products had gained 9.7% over the past month, outpacing the Computer and Technology sector's gain of 3.18% and the S&P 500's gain of 1.92% in that time.
Wall Street will be looking for positivity from AAPL as it approaches its next earnings report date. On that day, AAPL is projected to report earnings of $2.37 per share, which would represent a year-over-year decline of 13.19%. Meanwhile, our latest consensus estimate is calling for revenue of $57.60 billion, down 5.79% from the prior-year quarter.
For the full year, our Zacks Consensus Estimates are projecting earnings of $11.41 per share and revenue of $254.70 billion, which would represent changes of -4.2% and -4.1%, respectively, from the prior year.
Investors might also notice recent changes to analyst estimates for AAPL. Recent revisions tend to reflect the latest near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 0.17% higher. AAPL is holding a Zacks Rank of #3 (Hold) right now.
Looking at its valuation, AAPL is holding a Forward P/E ratio of 16.65. For comparison, its industry has an average Forward P/E of 17.5, which means AAPL is trading at a discount to the group.
Investors should also note that AAPL has a PEG ratio of 1.94 right now. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. The Computer - Mini computers was holding an average PEG ratio of 2.7 at yesterday's closing price.
The Computer - Mini computers industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 47, putting it in the top 19% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
You can find more information on all of these metrics, and much more, on Zacks.com.
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Apple (AAPL) Gains But Lags Market: What You Should Know
Apple (AAPL - Free Report) closed the most recent trading day at $191.08, moving +0.59% from the previous trading session. This change lagged the S&P 500's 1.16% gain on the day. Meanwhile, the Dow gained 1.27%, and the Nasdaq, a tech-heavy index, added 1.29%.
Heading into today, shares of the maker of iPhones, iPads and other products had gained 9.7% over the past month, outpacing the Computer and Technology sector's gain of 3.18% and the S&P 500's gain of 1.92% in that time.
Wall Street will be looking for positivity from AAPL as it approaches its next earnings report date. On that day, AAPL is projected to report earnings of $2.37 per share, which would represent a year-over-year decline of 13.19%. Meanwhile, our latest consensus estimate is calling for revenue of $57.60 billion, down 5.79% from the prior-year quarter.
For the full year, our Zacks Consensus Estimates are projecting earnings of $11.41 per share and revenue of $254.70 billion, which would represent changes of -4.2% and -4.1%, respectively, from the prior year.
Investors might also notice recent changes to analyst estimates for AAPL. Recent revisions tend to reflect the latest near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 0.17% higher. AAPL is holding a Zacks Rank of #3 (Hold) right now.
Looking at its valuation, AAPL is holding a Forward P/E ratio of 16.65. For comparison, its industry has an average Forward P/E of 17.5, which means AAPL is trading at a discount to the group.
Investors should also note that AAPL has a PEG ratio of 1.94 right now. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. The Computer - Mini computers was holding an average PEG ratio of 2.7 at yesterday's closing price.
The Computer - Mini computers industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 47, putting it in the top 19% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
You can find more information on all of these metrics, and much more, on Zacks.com.