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Apple (AAPL) Outpaces Stock Market Gains: What You Should Know
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Apple (AAPL - Free Report) closed at $173.07 in the latest trading session, marking a +0.51% move from the prior day. The stock outpaced the S&P 500's daily gain of 0.08%. Elsewhere, the Dow lost 0.56%, while the tech-heavy Nasdaq lost 4.81%.
Coming into today, shares of the maker of iPhones, iPads and other products had gained 1.13% in the past month. In that same time, the Computer and Technology sector lost 2.99%, while the S&P 500 gained 0.64%.
Wall Street will be looking for positivity from Apple as it approaches its next earnings report date. This is expected to be January 27, 2022. On that day, Apple is projected to report earnings of $1.89 per share, which would represent year-over-year growth of 12.5%. Our most recent consensus estimate is calling for quarterly revenue of $118.13 billion, up 6.01% from the year-ago period.
AAPL's full-year Zacks Consensus Estimates are calling for earnings of $5.82 per share and revenue of $385.14 billion. These results would represent year-over-year changes of +3.74% and +5.28%, respectively.
Any recent changes to analyst estimates for Apple should also be noted by investors. These recent revisions tend to reflect the evolving nature of short-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 0.42% higher. Apple is currently a Zacks Rank #2 (Buy).
Investors should also note Apple's current valuation metrics, including its Forward P/E ratio of 29.75. Its industry sports an average Forward P/E of 19.5, so we one might conclude that Apple is trading at a premium comparatively.
It is also worth noting that AAPL currently has a PEG ratio of 2.38. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. The Computer - Mini computers industry currently had an average PEG ratio of 2.65 as of yesterday's close.
The Computer - Mini computers industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 54, which puts it in the top 22% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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Apple (AAPL) Outpaces Stock Market Gains: What You Should Know
Apple (AAPL - Free Report) closed at $173.07 in the latest trading session, marking a +0.51% move from the prior day. The stock outpaced the S&P 500's daily gain of 0.08%. Elsewhere, the Dow lost 0.56%, while the tech-heavy Nasdaq lost 4.81%.
Coming into today, shares of the maker of iPhones, iPads and other products had gained 1.13% in the past month. In that same time, the Computer and Technology sector lost 2.99%, while the S&P 500 gained 0.64%.
Wall Street will be looking for positivity from Apple as it approaches its next earnings report date. This is expected to be January 27, 2022. On that day, Apple is projected to report earnings of $1.89 per share, which would represent year-over-year growth of 12.5%. Our most recent consensus estimate is calling for quarterly revenue of $118.13 billion, up 6.01% from the year-ago period.
AAPL's full-year Zacks Consensus Estimates are calling for earnings of $5.82 per share and revenue of $385.14 billion. These results would represent year-over-year changes of +3.74% and +5.28%, respectively.
Any recent changes to analyst estimates for Apple should also be noted by investors. These recent revisions tend to reflect the evolving nature of short-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 0.42% higher. Apple is currently a Zacks Rank #2 (Buy).
Investors should also note Apple's current valuation metrics, including its Forward P/E ratio of 29.75. Its industry sports an average Forward P/E of 19.5, so we one might conclude that Apple is trading at a premium comparatively.
It is also worth noting that AAPL currently has a PEG ratio of 2.38. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. The Computer - Mini computers industry currently had an average PEG ratio of 2.65 as of yesterday's close.
The Computer - Mini computers industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 54, which puts it in the top 22% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.