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Apple (AAPL) Gains But Lags Market: What You Should Know
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In the latest trading session, Apple (AAPL - Free Report) closed at $167.40, marking a +1.41% move from the previous day. This change lagged the S&P 500's 1.61% gain on the day. At the same time, the Dow added 1.45%, and the tech-heavy Nasdaq gained 0.36%.
Heading into today, shares of the maker of iPhones, iPads and other products had lost 0.19% over the past month, outpacing the Computer and Technology sector's loss of 6.03% and the S&P 500's loss of 1.42% in that time.
Apple will be looking to display strength as it nears its next earnings release, which is expected to be April 28, 2022. On that day, Apple is projected to report earnings of $1.43 per share, which would represent year-over-year growth of 2.14%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $94.43 billion, up 5.41% from the year-ago period.
AAPL's full-year Zacks Consensus Estimates are calling for earnings of $6.16 per share and revenue of $397.57 billion. These results would represent year-over-year changes of +9.8% and +8.68%, respectively.
Investors should also note any recent changes to analyst estimates for Apple. These revisions typically reflect the latest short-term business trends, which can change frequently. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection remained stagnant. Apple is holding a Zacks Rank of #2 (Buy) right now.
Digging into valuation, Apple currently has a Forward P/E ratio of 26.79. This represents a premium compared to its industry's average Forward P/E of 17.9.
It is also worth noting that AAPL currently has a PEG ratio of 2.14. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. The Computer - Mini computers was holding an average PEG ratio of 2.2 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 100, which puts it in the top 40% 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.
You can find more information on all of these metrics, and much more, on Zacks.com.
View the Zacks #1 Rank List
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Apple (AAPL) Gains But Lags Market: What You Should Know
In the latest trading session, Apple (AAPL - Free Report) closed at $167.40, marking a +1.41% move from the previous day. This change lagged the S&P 500's 1.61% gain on the day. At the same time, the Dow added 1.45%, and the tech-heavy Nasdaq gained 0.36%.
Heading into today, shares of the maker of iPhones, iPads and other products had lost 0.19% over the past month, outpacing the Computer and Technology sector's loss of 6.03% and the S&P 500's loss of 1.42% in that time.
Apple will be looking to display strength as it nears its next earnings release, which is expected to be April 28, 2022. On that day, Apple is projected to report earnings of $1.43 per share, which would represent year-over-year growth of 2.14%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $94.43 billion, up 5.41% from the year-ago period.
AAPL's full-year Zacks Consensus Estimates are calling for earnings of $6.16 per share and revenue of $397.57 billion. These results would represent year-over-year changes of +9.8% and +8.68%, respectively.
Investors should also note any recent changes to analyst estimates for Apple. These revisions typically reflect the latest short-term business trends, which can change frequently. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection remained stagnant. Apple is holding a Zacks Rank of #2 (Buy) right now.
Digging into valuation, Apple currently has a Forward P/E ratio of 26.79. This represents a premium compared to its industry's average Forward P/E of 17.9.
It is also worth noting that AAPL currently has a PEG ratio of 2.14. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. The Computer - Mini computers was holding an average PEG ratio of 2.2 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 100, which puts it in the top 40% 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.
You can find more information on all of these metrics, and much more, on Zacks.com.