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Apple (AAPL) Registers a Bigger Fall Than the Market: Important Facts to Note
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In the latest market close, Apple (AAPL - Free Report) reached $169.71, with a -0.67% movement compared to the previous day. This move lagged the S&P 500's daily loss of 0.28%. On the other hand, the Dow registered a loss of 0.08%, and the technology-centric Nasdaq decreased by 0.42%.
The maker of iPhones, iPads and other products's shares have seen a decrease of 5.69% over the last month, not keeping up with the Computer and Technology sector's gain of 3.64% and the S&P 500's gain of 2.67%.
The upcoming earnings release of Apple will be of great interest to investors. The company is predicted to post an EPS of $1.50, indicating a 1.32% decline compared to the equivalent quarter last year. In the meantime, our current consensus estimate forecasts the revenue to be $90.38 billion, indicating a 4.7% decline compared to the corresponding quarter of the prior year.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of $6.55 per share and revenue of $385.52 billion, indicating changes of +6.85% and +0.58%, respectively, compared to the previous year.
Investors should also pay attention to any latest changes in analyst estimates for Apple. These recent revisions tend to reflect the evolving nature of short-term business trends. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical rating system.
The Zacks Rank system, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. Within the past 30 days, our consensus EPS projection has moved 0.01% higher. Apple is currently sporting a Zacks Rank of #3 (Hold).
Looking at its valuation, Apple is holding a Forward P/E ratio of 26.09. For comparison, its industry has an average Forward P/E of 14.02, which means Apple is trading at a premium to the group.
It is also worth noting that AAPL currently has a PEG ratio of 2.06. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. By the end of yesterday's trading, the Computer - Mini computers industry had an average PEG ratio of 2.51.
The Computer - Mini computers industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 217, putting it in the bottom 14% of all 250+ industries.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.
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Apple (AAPL) Registers a Bigger Fall Than the Market: Important Facts to Note
In the latest market close, Apple (AAPL - Free Report) reached $169.71, with a -0.67% movement compared to the previous day. This move lagged the S&P 500's daily loss of 0.28%. On the other hand, the Dow registered a loss of 0.08%, and the technology-centric Nasdaq decreased by 0.42%.
The maker of iPhones, iPads and other products's shares have seen a decrease of 5.69% over the last month, not keeping up with the Computer and Technology sector's gain of 3.64% and the S&P 500's gain of 2.67%.
The upcoming earnings release of Apple will be of great interest to investors. The company is predicted to post an EPS of $1.50, indicating a 1.32% decline compared to the equivalent quarter last year. In the meantime, our current consensus estimate forecasts the revenue to be $90.38 billion, indicating a 4.7% decline compared to the corresponding quarter of the prior year.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of $6.55 per share and revenue of $385.52 billion, indicating changes of +6.85% and +0.58%, respectively, compared to the previous year.
Investors should also pay attention to any latest changes in analyst estimates for Apple. These recent revisions tend to reflect the evolving nature of short-term business trends. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical rating system.
The Zacks Rank system, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. Within the past 30 days, our consensus EPS projection has moved 0.01% higher. Apple is currently sporting a Zacks Rank of #3 (Hold).
Looking at its valuation, Apple is holding a Forward P/E ratio of 26.09. For comparison, its industry has an average Forward P/E of 14.02, which means Apple is trading at a premium to the group.
It is also worth noting that AAPL currently has a PEG ratio of 2.06. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. By the end of yesterday's trading, the Computer - Mini computers industry had an average PEG ratio of 2.51.
The Computer - Mini computers industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 217, putting it in the bottom 14% of all 250+ industries.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.