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Apple (AAPL) Stock Moves -0.89%: What You Should Know
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Apple (AAPL - Free Report) closed at $173.93 in the latest trading session, marking a -0.89% move from the prior day. This change was narrower than the S&P 500's 1.64% loss on the day. Elsewhere, the Dow lost 1.08%, while the tech-heavy Nasdaq lost 1.82%.
Heading into today, shares of the maker of iPhones, iPads and other products had lost 3.11% over the past month, lagging the Computer and Technology sector's gain of 1.8% and the S&P 500's gain of 0.89% in that time.
Wall Street will be looking for positivity from Apple as it approaches its next earnings report date. On that day, Apple is projected to report earnings of $1.39 per share, which would represent year-over-year growth of 7.75%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $88.87 billion, down 1.42% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $6.05 per share and revenue of $382.66 billion, which would represent changes of -0.98% and -2.96%, respectively, from the prior year.
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. With this in mind, we can consider positive estimate revisions a sign of optimism about 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.
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. Within the past 30 days, our consensus EPS projection has moved 0.04% higher. Apple is currently sporting a Zacks Rank of #3 (Hold).
Investors should also note Apple's current valuation metrics, including its Forward P/E ratio of 29.03. This represents a premium compared to its industry's average Forward P/E of 11.44.
We can also see that AAPL currently has a PEG ratio of 2.56. 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 industry currently had an average PEG ratio of 2.56 as of yesterday's close.
The Computer - Mini computers industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 195, putting it in the bottom 23% 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.
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) Stock Moves -0.89%: What You Should Know
Apple (AAPL - Free Report) closed at $173.93 in the latest trading session, marking a -0.89% move from the prior day. This change was narrower than the S&P 500's 1.64% loss on the day. Elsewhere, the Dow lost 1.08%, while the tech-heavy Nasdaq lost 1.82%.
Heading into today, shares of the maker of iPhones, iPads and other products had lost 3.11% over the past month, lagging the Computer and Technology sector's gain of 1.8% and the S&P 500's gain of 0.89% in that time.
Wall Street will be looking for positivity from Apple as it approaches its next earnings report date. On that day, Apple is projected to report earnings of $1.39 per share, which would represent year-over-year growth of 7.75%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $88.87 billion, down 1.42% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $6.05 per share and revenue of $382.66 billion, which would represent changes of -0.98% and -2.96%, respectively, from the prior year.
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. With this in mind, we can consider positive estimate revisions a sign of optimism about 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.
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. Within the past 30 days, our consensus EPS projection has moved 0.04% higher. Apple is currently sporting a Zacks Rank of #3 (Hold).
Investors should also note Apple's current valuation metrics, including its Forward P/E ratio of 29.03. This represents a premium compared to its industry's average Forward P/E of 11.44.
We can also see that AAPL currently has a PEG ratio of 2.56. 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 industry currently had an average PEG ratio of 2.56 as of yesterday's close.
The Computer - Mini computers industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 195, putting it in the bottom 23% 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.
You can find more information on all of these metrics, and much more, on Zacks.com.