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Apple (AAPL) Outpaces Stock Market Gains: What You Should Know
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In the latest trading session, Apple (AAPL - Free Report) closed at $142.83, marking a +0.65% move from the previous day. This change outpaced the S&P 500's 0.16% gain on the day.
Heading into today, shares of the maker of iPhones, iPads and other products had lost 6.53% over the past month, lagging the Computer and Technology sector's loss of 4.96% and the S&P 500's loss of 3.32% in that time.
Investors will be hoping for strength from AAPL as it approaches its next earnings release. The company is expected to report EPS of $1.23, up 68.49% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $84.95 billion, up 31.3% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $5.59 per share and revenue of $367.23 billion, which would represent changes of +70.43% and +33.77%, respectively, from the prior year.
It is also important to note the recent changes to analyst estimates for AAPL. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
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. The Zacks Consensus EPS estimate has moved 0.03% lower within the past month. AAPL currently has a Zacks Rank of #3 (Hold).
Investors should also note AAPL's current valuation metrics, including its Forward P/E ratio of 25.4. This valuation marks a premium compared to its industry's average Forward P/E of 16.53.
It is also worth noting that AAPL currently has a PEG ratio of 2.03. 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 1.19 at yesterday's closing price.
The Computer - Mini computers industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 18, which puts it in the top 8% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual 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.
To follow AAPL in the coming trading sessions, be sure to utilize Zacks.com.
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Apple (AAPL) Outpaces Stock Market Gains: What You Should Know
In the latest trading session, Apple (AAPL - Free Report) closed at $142.83, marking a +0.65% move from the previous day. This change outpaced the S&P 500's 0.16% gain on the day.
Heading into today, shares of the maker of iPhones, iPads and other products had lost 6.53% over the past month, lagging the Computer and Technology sector's loss of 4.96% and the S&P 500's loss of 3.32% in that time.
Investors will be hoping for strength from AAPL as it approaches its next earnings release. The company is expected to report EPS of $1.23, up 68.49% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $84.95 billion, up 31.3% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $5.59 per share and revenue of $367.23 billion, which would represent changes of +70.43% and +33.77%, respectively, from the prior year.
It is also important to note the recent changes to analyst estimates for AAPL. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
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. The Zacks Consensus EPS estimate has moved 0.03% lower within the past month. AAPL currently has a Zacks Rank of #3 (Hold).
Investors should also note AAPL's current valuation metrics, including its Forward P/E ratio of 25.4. This valuation marks a premium compared to its industry's average Forward P/E of 16.53.
It is also worth noting that AAPL currently has a PEG ratio of 2.03. 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 1.19 at yesterday's closing price.
The Computer - Mini computers industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 18, which puts it in the top 8% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual 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.
To follow AAPL in the coming trading sessions, be sure to utilize Zacks.com.