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Apple (AAPL) Advances While Market Declines: Some Information for Investors
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Apple (AAPL - Free Report) closed at $173 in the latest trading session, marking a +1.09% move from the prior day. This change outpaced the S&P 500's 0.29% loss on the day. Meanwhile, the Dow lost 0.35%, and the Nasdaq, a tech-heavy index, lost 0.3%.
The maker of iPhones, iPads and other products's shares have seen a decrease of 7.07% over the last month, not keeping up with the Computer and Technology sector's gain of 3.61% and the S&P 500's gain of 4.42%.
The upcoming earnings release of Apple will be of great interest to investors. The company is expected to report EPS of $1.50, down 1.32% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue 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.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Apple. These revisions help to show the ever-changing nature of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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 last 30 days, the Zacks Consensus EPS estimate has remained unchanged. Apple currently has a Zacks Rank of #3 (Hold).
Investors should also note Apple's current valuation metrics, including its Forward P/E ratio of 26.14. This expresses a premium compared to the average Forward P/E of 15.21 of its industry.
Investors should also note that AAPL has a PEG ratio of 2.06 right now. The PEG ratio bears resemblance to the frequently used P/E ratio, but this parameter also includes the company's expected earnings growth trajectory. The Computer - Mini computers industry had an average PEG ratio of 2.58 as trading concluded yesterday.
The Computer - Mini computers industry is part of the Computer and Technology sector. This industry, currently bearing a Zacks Industry Rank of 217, finds itself in the bottom 14% echelons of all 250+ industries.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions.
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Apple (AAPL) Advances While Market Declines: Some Information for Investors
Apple (AAPL - Free Report) closed at $173 in the latest trading session, marking a +1.09% move from the prior day. This change outpaced the S&P 500's 0.29% loss on the day. Meanwhile, the Dow lost 0.35%, and the Nasdaq, a tech-heavy index, lost 0.3%.
The maker of iPhones, iPads and other products's shares have seen a decrease of 7.07% over the last month, not keeping up with the Computer and Technology sector's gain of 3.61% and the S&P 500's gain of 4.42%.
The upcoming earnings release of Apple will be of great interest to investors. The company is expected to report EPS of $1.50, down 1.32% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue 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.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Apple. These revisions help to show the ever-changing nature of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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 last 30 days, the Zacks Consensus EPS estimate has remained unchanged. Apple currently has a Zacks Rank of #3 (Hold).
Investors should also note Apple's current valuation metrics, including its Forward P/E ratio of 26.14. This expresses a premium compared to the average Forward P/E of 15.21 of its industry.
Investors should also note that AAPL has a PEG ratio of 2.06 right now. The PEG ratio bears resemblance to the frequently used P/E ratio, but this parameter also includes the company's expected earnings growth trajectory. The Computer - Mini computers industry had an average PEG ratio of 2.58 as trading concluded yesterday.
The Computer - Mini computers industry is part of the Computer and Technology sector. This industry, currently bearing a Zacks Industry Rank of 217, finds itself in the bottom 14% echelons of all 250+ industries.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions.