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Apple (AAPL) Stock Sinks As Market Gains: What You Should Know
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In the latest trading session, Apple (AAPL - Free Report) closed at $154.45, marking a -0.97% move from the previous day. This change lagged the S&P 500's 0.66% gain on the day. Elsewhere, the Dow gained 0.61%, while the tech-heavy Nasdaq added 0.05%.
Prior to today's trading, shares of the maker of iPhones, iPads and other products had lost 7.85% over the past month. This has was narrower than the Computer and Technology sector's loss of 8.24% and lagged the S&P 500's loss of 3.79% in that time.
Wall Street will be looking for positivity from Apple as it approaches its next earnings report date. The company is expected to report EPS of $1.25, up 0.81% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $88.01 billion, up 5.58% from the year-ago period.
AAPL's full-year Zacks Consensus Estimates are calling for earnings of $6.10 per share and revenue of $392.19 billion. These results would represent year-over-year changes of +8.73% and +7.21%, respectively.
Investors might also notice recent changes to analyst estimates for Apple. 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.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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. The Zacks Consensus EPS estimate has moved 0.09% higher within the past month. Apple is currently sporting a Zacks Rank of #3 (Hold).
Digging into valuation, Apple currently has a Forward P/E ratio of 25.55. This valuation marks a premium compared to its industry's average Forward P/E of 6.69.
Investors should also note that AAPL has a PEG ratio of 2.02 right now. 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 was holding an average PEG ratio of 2.44 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 219, which puts it in the bottom 14% 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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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Apple (AAPL) Stock Sinks As Market Gains: What You Should Know
In the latest trading session, Apple (AAPL - Free Report) closed at $154.45, marking a -0.97% move from the previous day. This change lagged the S&P 500's 0.66% gain on the day. Elsewhere, the Dow gained 0.61%, while the tech-heavy Nasdaq added 0.05%.
Prior to today's trading, shares of the maker of iPhones, iPads and other products had lost 7.85% over the past month. This has was narrower than the Computer and Technology sector's loss of 8.24% and lagged the S&P 500's loss of 3.79% in that time.
Wall Street will be looking for positivity from Apple as it approaches its next earnings report date. The company is expected to report EPS of $1.25, up 0.81% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $88.01 billion, up 5.58% from the year-ago period.
AAPL's full-year Zacks Consensus Estimates are calling for earnings of $6.10 per share and revenue of $392.19 billion. These results would represent year-over-year changes of +8.73% and +7.21%, respectively.
Investors might also notice recent changes to analyst estimates for Apple. 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.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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. The Zacks Consensus EPS estimate has moved 0.09% higher within the past month. Apple is currently sporting a Zacks Rank of #3 (Hold).
Digging into valuation, Apple currently has a Forward P/E ratio of 25.55. This valuation marks a premium compared to its industry's average Forward P/E of 6.69.
Investors should also note that AAPL has a PEG ratio of 2.02 right now. 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 was holding an average PEG ratio of 2.44 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 219, which puts it in the bottom 14% 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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.