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Apple (AAPL) Advances But Underperforms Market: Key Facts
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Apple (AAPL - Free Report) closed the most recent trading day at $198.11, moving +0.08% from the previous trading session. The stock fell short of the S&P 500, which registered a gain of 0.27% for the day. Meanwhile, the Dow gained 0.43%, and the Nasdaq, a tech-heavy index, added 0.19%.
Heading into today, shares of the maker of iPhones, iPads and other products had gained 5.29% over the past month, lagging the Computer and Technology sector's gain of 5.93% and the S&P 500's gain of 6.94% in that time.
The upcoming earnings release of Apple will be of great interest to investors. The company is forecasted to report an EPS of $2.08, showcasing a 10.64% upward movement from the corresponding quarter of the prior year. Our most recent consensus estimate is calling for quarterly revenue of $117.31 billion, up 0.13% from the year-ago period.
For the annual period, the Zacks Consensus Estimates anticipate earnings of $6.56 per share and a revenue of $393.42 billion, signifying shifts of +7.01% and +2.65%, respectively, from the last year.
Investors should also take note of any recent adjustments to analyst estimates for Apple. These revisions help to show the ever-changing nature of near-term business trends. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable rating system.
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. Over the past month, the Zacks Consensus EPS estimate has moved 0.12% higher. Apple presently features a Zacks Rank of #3 (Hold).
In terms of valuation, Apple is currently trading at a Forward P/E ratio of 30.16. This denotes a premium relative to the industry's average Forward P/E of 12.24.
We can additionally observe that AAPL currently boasts a PEG ratio of 2.73. 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. Computer - Mini computers stocks are, on average, holding a PEG ratio of 2.73 based on yesterday's closing prices.
The Computer - Mini computers industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 92, putting it in the top 37% 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) Advances But Underperforms Market: Key Facts
Apple (AAPL - Free Report) closed the most recent trading day at $198.11, moving +0.08% from the previous trading session. The stock fell short of the S&P 500, which registered a gain of 0.27% for the day. Meanwhile, the Dow gained 0.43%, and the Nasdaq, a tech-heavy index, added 0.19%.
Heading into today, shares of the maker of iPhones, iPads and other products had gained 5.29% over the past month, lagging the Computer and Technology sector's gain of 5.93% and the S&P 500's gain of 6.94% in that time.
The upcoming earnings release of Apple will be of great interest to investors. The company is forecasted to report an EPS of $2.08, showcasing a 10.64% upward movement from the corresponding quarter of the prior year. Our most recent consensus estimate is calling for quarterly revenue of $117.31 billion, up 0.13% from the year-ago period.
For the annual period, the Zacks Consensus Estimates anticipate earnings of $6.56 per share and a revenue of $393.42 billion, signifying shifts of +7.01% and +2.65%, respectively, from the last year.
Investors should also take note of any recent adjustments to analyst estimates for Apple. These revisions help to show the ever-changing nature of near-term business trends. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable rating system.
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. Over the past month, the Zacks Consensus EPS estimate has moved 0.12% higher. Apple presently features a Zacks Rank of #3 (Hold).
In terms of valuation, Apple is currently trading at a Forward P/E ratio of 30.16. This denotes a premium relative to the industry's average Forward P/E of 12.24.
We can additionally observe that AAPL currently boasts a PEG ratio of 2.73. 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. Computer - Mini computers stocks are, on average, holding a PEG ratio of 2.73 based on yesterday's closing prices.
The Computer - Mini computers industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 92, putting it in the top 37% 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.