We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Apple (AAPL) Declines More Than Market: Some Information for Investors
Read MoreHide Full Article
Apple (AAPL - Free Report) closed at $185.14 in the latest trading session, marking a -0.23% move from the prior day. The stock trailed the S&P 500, which registered a daily loss of 0.15%. Elsewhere, the Dow saw a downswing of 0.42%, while the tech-heavy Nasdaq appreciated by 0.09%.
Coming into today, shares of the maker of iPhones, iPads and other products had lost 3.94% in the past month. In that same time, the Computer and Technology sector gained 1.19%, while the S&P 500 gained 3.5%.
The investment community will be closely monitoring the performance of Apple in its forthcoming earnings report. The company is scheduled to release its earnings on February 1, 2024. The company is predicted to post an EPS of $2.08, indicating a 10.64% growth compared to the equivalent quarter last year. In the meantime, our current consensus estimate forecasts the revenue to be $117.31 billion, indicating a 0.13% growth compared to the corresponding quarter of the prior year.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $6.56 per share and a revenue of $393.42 billion, representing changes of +7.01% and +2.65%, respectively, from the prior year.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Apple. These latest adjustments often mirror the shifting dynamics of short-term business patterns. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Our research suggests that these changes in estimates have a direct relationship with upcoming 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 remained steady. Apple is currently sporting a Zacks Rank of #3 (Hold).
In terms of valuation, Apple is currently trading at a Forward P/E ratio of 28.27. This signifies a premium in comparison to the average Forward P/E of 20.42 for its industry.
It's also important to note that AAPL currently trades at a PEG ratio of 2.56. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. Computer - Mini computers stocks are, on average, holding a PEG ratio of 2.56 based on yesterday's closing prices.
The Computer - Mini computers industry is part of the Computer and Technology sector. Currently, this industry holds a Zacks Industry Rank of 191, positioning it in the bottom 25% of all 250+ industries.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Image: Bigstock
Apple (AAPL) Declines More Than Market: Some Information for Investors
Apple (AAPL - Free Report) closed at $185.14 in the latest trading session, marking a -0.23% move from the prior day. The stock trailed the S&P 500, which registered a daily loss of 0.15%. Elsewhere, the Dow saw a downswing of 0.42%, while the tech-heavy Nasdaq appreciated by 0.09%.
Coming into today, shares of the maker of iPhones, iPads and other products had lost 3.94% in the past month. In that same time, the Computer and Technology sector gained 1.19%, while the S&P 500 gained 3.5%.
The investment community will be closely monitoring the performance of Apple in its forthcoming earnings report. The company is scheduled to release its earnings on February 1, 2024. The company is predicted to post an EPS of $2.08, indicating a 10.64% growth compared to the equivalent quarter last year. In the meantime, our current consensus estimate forecasts the revenue to be $117.31 billion, indicating a 0.13% growth compared to the corresponding quarter of the prior year.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $6.56 per share and a revenue of $393.42 billion, representing changes of +7.01% and +2.65%, respectively, from the prior year.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Apple. These latest adjustments often mirror the shifting dynamics of short-term business patterns. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Our research suggests that these changes in estimates have a direct relationship with upcoming 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 remained steady. Apple is currently sporting a Zacks Rank of #3 (Hold).
In terms of valuation, Apple is currently trading at a Forward P/E ratio of 28.27. This signifies a premium in comparison to the average Forward P/E of 20.42 for its industry.
It's also important to note that AAPL currently trades at a PEG ratio of 2.56. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. Computer - Mini computers stocks are, on average, holding a PEG ratio of 2.56 based on yesterday's closing prices.
The Computer - Mini computers industry is part of the Computer and Technology sector. Currently, this industry holds a Zacks Industry Rank of 191, positioning it in the bottom 25% of all 250+ industries.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.