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Apple (AAPL) Ascends While Market Falls: Some Facts to Note
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The latest trading session saw Apple (AAPL - Free Report) ending at $170.73, denoting a +1.02% adjustment from its last day's close. The stock's change was more than the S&P 500's daily loss of 0.65%. Meanwhile, the Dow lost 0.18%, and the Nasdaq, a tech-heavy index, lost 1.16%.
Prior to today's trading, shares of the maker of iPhones, iPads and other products had lost 10.26% over the past month. This has lagged the Computer and Technology sector's gain of 3.18% and the S&P 500's gain of 3.4% in that time.
Analysts and investors alike will be keeping a close eye on the performance of Apple in its upcoming earnings disclosure. On that day, Apple is projected to report earnings of $1.50 per share, which would represent a year-over-year decline of 1.32%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $90.38 billion, down 4.7% from the year-ago period.
For the annual period, the Zacks Consensus Estimates anticipate earnings of $6.55 per share and a revenue of $385.52 billion, signifying shifts of +6.85% and +0.58%, respectively, from the last year.
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. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional 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. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed a 0.01% decrease. Apple is currently sporting a Zacks Rank of #3 (Hold).
With respect to valuation, Apple is currently being traded at a Forward P/E ratio of 25.82. Its industry sports an average Forward P/E of 20.34, so one might conclude that Apple is trading at a premium comparatively.
We can also see that AAPL currently has a PEG ratio of 2.04. The PEG ratio bears resemblance to the frequently used P/E ratio, but this parameter also includes the company's expected earnings growth trajectory. As of the close of trade yesterday, the Computer - Mini computers industry held an average PEG ratio of 2.56.
The Computer - Mini computers industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 183, which puts it in the bottom 28% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our 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.
Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.
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Apple (AAPL) Ascends While Market Falls: Some Facts to Note
The latest trading session saw Apple (AAPL - Free Report) ending at $170.73, denoting a +1.02% adjustment from its last day's close. The stock's change was more than the S&P 500's daily loss of 0.65%. Meanwhile, the Dow lost 0.18%, and the Nasdaq, a tech-heavy index, lost 1.16%.
Prior to today's trading, shares of the maker of iPhones, iPads and other products had lost 10.26% over the past month. This has lagged the Computer and Technology sector's gain of 3.18% and the S&P 500's gain of 3.4% in that time.
Analysts and investors alike will be keeping a close eye on the performance of Apple in its upcoming earnings disclosure. On that day, Apple is projected to report earnings of $1.50 per share, which would represent a year-over-year decline of 1.32%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $90.38 billion, down 4.7% from the year-ago period.
For the annual period, the Zacks Consensus Estimates anticipate earnings of $6.55 per share and a revenue of $385.52 billion, signifying shifts of +6.85% and +0.58%, respectively, from the last year.
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. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional 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. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed a 0.01% decrease. Apple is currently sporting a Zacks Rank of #3 (Hold).
With respect to valuation, Apple is currently being traded at a Forward P/E ratio of 25.82. Its industry sports an average Forward P/E of 20.34, so one might conclude that Apple is trading at a premium comparatively.
We can also see that AAPL currently has a PEG ratio of 2.04. The PEG ratio bears resemblance to the frequently used P/E ratio, but this parameter also includes the company's expected earnings growth trajectory. As of the close of trade yesterday, the Computer - Mini computers industry held an average PEG ratio of 2.56.
The Computer - Mini computers industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 183, which puts it in the bottom 28% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our 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.
Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.