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Apple (AAPL) Increases Yet Falls Behind Market: What Investors Need to Know
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The most recent trading session ended with Apple (AAPL - Free Report) standing at $165.67, reflecting a +0.41% shift from the previouse trading day's closing. The stock's change was less than the S&P 500's daily gain of 0.87%. Elsewhere, the Dow saw an upswing of 0.67%, while the tech-heavy Nasdaq appreciated by 1.11%.
The maker of iPhones, iPads and other products's shares have seen a decrease of 4.23% over the last month, surpassing the Computer and Technology sector's loss of 5.98% and falling behind the S&P 500's loss of 3.97%.
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 May 2, 2024. In that report, analysts expect Apple to post earnings of $1.50 per share. This would mark a year-over-year decline of 1.32%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $89.79 billion, down 5.32% from the year-ago period.
Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of $6.54 per share and revenue of $383.47 billion. These totals would mark changes of +6.69% and +0.05%, respectively, from last year.
Investors should also pay attention to any latest changes in analyst estimates for Apple. These revisions typically reflect the latest short-term business trends, which can change frequently. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. 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, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Over the past month, there's been a 0.07% fall in the Zacks Consensus EPS estimate. Apple is currently sporting a Zacks Rank of #3 (Hold).
Investors should also note Apple's current valuation metrics, including its Forward P/E ratio of 25.22. This indicates a premium in contrast to its industry's Forward P/E of 8.72.
Investors should also note that AAPL has a PEG ratio of 1.99 right now. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. As the market closed yesterday, the Computer - Mini computers industry was having an average PEG ratio of 1.99.
The Computer - Mini computers industry is part of the Computer and Technology sector. Currently, this industry holds a Zacks Industry Rank of 243, positioning it in the bottom 4% of all 250+ industries.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in 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) Increases Yet Falls Behind Market: What Investors Need to Know
The most recent trading session ended with Apple (AAPL - Free Report) standing at $165.67, reflecting a +0.41% shift from the previouse trading day's closing. The stock's change was less than the S&P 500's daily gain of 0.87%. Elsewhere, the Dow saw an upswing of 0.67%, while the tech-heavy Nasdaq appreciated by 1.11%.
The maker of iPhones, iPads and other products's shares have seen a decrease of 4.23% over the last month, surpassing the Computer and Technology sector's loss of 5.98% and falling behind the S&P 500's loss of 3.97%.
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 May 2, 2024. In that report, analysts expect Apple to post earnings of $1.50 per share. This would mark a year-over-year decline of 1.32%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $89.79 billion, down 5.32% from the year-ago period.
Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of $6.54 per share and revenue of $383.47 billion. These totals would mark changes of +6.69% and +0.05%, respectively, from last year.
Investors should also pay attention to any latest changes in analyst estimates for Apple. These revisions typically reflect the latest short-term business trends, which can change frequently. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. 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, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Over the past month, there's been a 0.07% fall in the Zacks Consensus EPS estimate. Apple is currently sporting a Zacks Rank of #3 (Hold).
Investors should also note Apple's current valuation metrics, including its Forward P/E ratio of 25.22. This indicates a premium in contrast to its industry's Forward P/E of 8.72.
Investors should also note that AAPL has a PEG ratio of 1.99 right now. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. As the market closed yesterday, the Computer - Mini computers industry was having an average PEG ratio of 1.99.
The Computer - Mini computers industry is part of the Computer and Technology sector. Currently, this industry holds a Zacks Industry Rank of 243, positioning it in the bottom 4% of all 250+ industries.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in 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.