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Apple (AAPL) Dips More Than Broader Market: What You Should Know
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Apple (AAPL - Free Report) closed the most recent trading day at $250.12, moving -2.21% from the previous trading session. This change lagged the S&P 500's daily loss of 0.61%. At the same time, the Dow lost 0.26%, and the tech-heavy Nasdaq lost 0.93%.
Coming into today, shares of the maker of iPhones, iPads and other products had lost 2.28% in the past month. In that same time, the Computer and Technology sector lost 1.56%, while the S&P 500 lost 2.25%.
The investment community will be paying close attention to the earnings performance of Apple in its upcoming release. The company's earnings per share (EPS) are projected to be $1.88, reflecting a 13.94% increase from the same quarter last year. In the meantime, our current consensus estimate forecasts the revenue to be $108.88 billion, indicating a 14.18% growth compared to the corresponding quarter of the prior year.
For the full year, the Zacks Consensus Estimates project earnings of $8.41 per share and a revenue of $461.19 billion, demonstrating changes of +12.73% and +10.82%, respectively, from the preceding year.
Investors should also note any recent changes to analyst estimates for Apple. Recent revisions tend to reflect the latest near-term business trends. Hence, positive alterations in estimates signify analyst optimism regarding the business and profitability.
Our research demonstrates that these adjustments in estimates directly associate with imminent 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, 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, the Zacks Consensus EPS estimate has moved 0.01% higher. Apple currently has a Zacks Rank of #3 (Hold).
With respect to valuation, Apple is currently being traded at a Forward P/E ratio of 30.41. This signifies a premium in comparison to the average Forward P/E of 11.32 for its industry.
We can also see that AAPL currently has a PEG ratio of 2.28. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. The Computer - Micro Computers was holding an average PEG ratio of 1.67 at yesterday's closing price.
The Computer - Micro Computers industry is part of the Computer and Technology sector. At present, this industry carries a Zacks Industry Rank of 92, placing it within the top 38% of over 250 industries.
The Zacks Industry Rank gauges the strength of our individual 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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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Apple (AAPL) Dips More Than Broader Market: What You Should Know
Apple (AAPL - Free Report) closed the most recent trading day at $250.12, moving -2.21% from the previous trading session. This change lagged the S&P 500's daily loss of 0.61%. At the same time, the Dow lost 0.26%, and the tech-heavy Nasdaq lost 0.93%.
Coming into today, shares of the maker of iPhones, iPads and other products had lost 2.28% in the past month. In that same time, the Computer and Technology sector lost 1.56%, while the S&P 500 lost 2.25%.
The investment community will be paying close attention to the earnings performance of Apple in its upcoming release. The company's earnings per share (EPS) are projected to be $1.88, reflecting a 13.94% increase from the same quarter last year. In the meantime, our current consensus estimate forecasts the revenue to be $108.88 billion, indicating a 14.18% growth compared to the corresponding quarter of the prior year.
For the full year, the Zacks Consensus Estimates project earnings of $8.41 per share and a revenue of $461.19 billion, demonstrating changes of +12.73% and +10.82%, respectively, from the preceding year.
Investors should also note any recent changes to analyst estimates for Apple. Recent revisions tend to reflect the latest near-term business trends. Hence, positive alterations in estimates signify analyst optimism regarding the business and profitability.
Our research demonstrates that these adjustments in estimates directly associate with imminent 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, 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, the Zacks Consensus EPS estimate has moved 0.01% higher. Apple currently has a Zacks Rank of #3 (Hold).
With respect to valuation, Apple is currently being traded at a Forward P/E ratio of 30.41. This signifies a premium in comparison to the average Forward P/E of 11.32 for its industry.
We can also see that AAPL currently has a PEG ratio of 2.28. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. The Computer - Micro Computers was holding an average PEG ratio of 1.67 at yesterday's closing price.
The Computer - Micro Computers industry is part of the Computer and Technology sector. At present, this industry carries a Zacks Industry Rank of 92, placing it within the top 38% of over 250 industries.
The Zacks Industry Rank gauges the strength of our individual 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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.