Technology giant Apple (AAPL - Free Report) is set to release fourth-quarter fiscal 2019 results on Oct 30 after market close. Since Apple accounts for more than 19% of total market capitalization of the entire technology sector in the S&P 500 Index, it is worth taking a look at its fundamentals ahead of its quarterly results.
Apple has returned about 19% over the past three months, slightly outperforming the industry’s gain of 17%. The momentum may continue if the company beats estimates in the soon-to-be reported quarter (read: Can Q3 Earnings Bring Back the Allure for FAANG ETFs?).
Inside Our Methodology
Apple has a Zacks Rank #3 (Hold) and an Earnings ESP of +0.04%. According to our methodology, the combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the chances of an earnings beat. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Apple saw positive earnings estimate revision of a penny over the past seven days for the fiscal fourth quarter. Analysts raising estimates right before earnings — with the most up-to-date information possible — is a pretty good indicator for the stock. Additionally, the company has a strong track record of positive earnings surprise. It delivered an average positive earnings surprise of 3.04% in the trailing four quarters.
However, the Zacks Consensus Estimate indicates a modest year-over-year decline of 2.41% for earnings and 0.34% for revenues.
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
Technology giant Apple (AAPL - Free Report) is set to release fourth-quarter fiscal 2019 results on Oct 30 after market close. Since Apple accounts for more than 19% of total market capitalization of the entire technology sector in the S&P 500 Index, it is worth taking a look at its fundamentals ahead of its quarterly results.
Apple has returned about 19% over the past three months, slightly outperforming the industry’s gain of 17%. The momentum may continue if the company beats estimates in the soon-to-be reported quarter (read: Can Q3 Earnings Bring Back the Allure for FAANG ETFs?).
Inside Our Methodology
Apple has a Zacks Rank #3 (Hold) and an Earnings ESP of +0.04%. According to our methodology, the combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the chances of an earnings beat. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Apple saw positive earnings estimate revision of a penny over the past seven days for the fiscal fourth quarter. Analysts raising estimates right before earnings — with the most up-to-date information possible — is a pretty good indicator for the stock. Additionally, the company has a strong track record of positive earnings surprise. It delivered an average positive earnings surprise of 3.04% in the trailing four quarters.
However, the Zacks Consensus Estimate indicates a modest year-over-year decline of 2.41% for earnings and 0.34% for revenues.
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
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