We use cookies to understand how you use our site and to improve your experience.
This includes personalizing content and advertising.
By pressing "Accept All" or closing out of this banner, you consent to the use of all cookies and similar technologies and the sharing of information they collect with third parties.
You can reject marketing cookies by pressing "Deny Optional," but we still use essential, performance, and functional cookies.
In addition, whether you "Accept All," Deny Optional," click the X or otherwise continue to use the site, you accept our Privacy Policy and Terms of Service, revised from time to time.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Apple (AAPL) Beats Stock Market Upswing: What Investors Need to Know
Read MoreHide Full Article
In the latest close session, Apple (AAPL - Free Report) was up +1.41% at $251.49. This change outpaced the S&P 500's 1.15% gain on the day. Meanwhile, the Dow experienced a rise of 1.38%, and the technology-dominated Nasdaq saw an increase of 1.38%.
The maker of iPhones, iPads and other products's shares have seen a decrease of 6.27% over the last month, not keeping up with the Computer and Technology sector's loss of 5.27% and the S&P 500's loss of 5.69%.
Market participants will be closely following the financial results of Apple in its upcoming release. The company is forecasted to report an EPS of $1.88, showcasing a 13.94% upward movement from the corresponding quarter of the prior year. Meanwhile, our latest consensus estimate is calling for revenue of $108.88 billion, up 14.18% from the prior-year quarter.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $8.41 per share and a revenue of $461.19 billion, indicating changes of +12.73% and +10.82%, respectively, from the former year.
It is also important to note the recent changes to analyst estimates for Apple. These latest adjustments often mirror the shifting dynamics of short-term business patterns. As a result, we can interpret positive estimate revisions as a good sign for the business outlook.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. 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 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 past month, the Zacks Consensus EPS estimate has moved 0.01% higher. Apple is holding a Zacks Rank of #3 (Hold) right now.
In the context of valuation, Apple is at present trading with a Forward P/E ratio of 29.49. For comparison, its industry has an average Forward P/E of 11.32, which means Apple is trading at a premium to the group.
Also, we should mention that AAPL has a PEG ratio of 2.21. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. Computer - Micro Computers stocks are, on average, holding a PEG ratio of 1.61 based on yesterday's closing prices.
The Computer - Micro Computers industry is part of the Computer and Technology sector. With its current Zacks Industry Rank of 91, this industry ranks in the top 38% of all industries, numbering over 250.
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.
Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions.
Zacks' 7 Best Strong Buy Stocks (New Research Report)
Valued at $99, click below to receive our just-released report
predicting the 7 stocks that will soar highest in the coming month.
View the Zacks #1 Rank List
Image: Bigstock
Apple (AAPL) Beats Stock Market Upswing: What Investors Need to Know
In the latest close session, Apple (AAPL - Free Report) was up +1.41% at $251.49. This change outpaced the S&P 500's 1.15% gain on the day. Meanwhile, the Dow experienced a rise of 1.38%, and the technology-dominated Nasdaq saw an increase of 1.38%.
The maker of iPhones, iPads and other products's shares have seen a decrease of 6.27% over the last month, not keeping up with the Computer and Technology sector's loss of 5.27% and the S&P 500's loss of 5.69%.
Market participants will be closely following the financial results of Apple in its upcoming release. The company is forecasted to report an EPS of $1.88, showcasing a 13.94% upward movement from the corresponding quarter of the prior year. Meanwhile, our latest consensus estimate is calling for revenue of $108.88 billion, up 14.18% from the prior-year quarter.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $8.41 per share and a revenue of $461.19 billion, indicating changes of +12.73% and +10.82%, respectively, from the former year.
It is also important to note the recent changes to analyst estimates for Apple. These latest adjustments often mirror the shifting dynamics of short-term business patterns. As a result, we can interpret positive estimate revisions as a good sign for the business outlook.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. 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 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 past month, the Zacks Consensus EPS estimate has moved 0.01% higher. Apple is holding a Zacks Rank of #3 (Hold) right now.
In the context of valuation, Apple is at present trading with a Forward P/E ratio of 29.49. For comparison, its industry has an average Forward P/E of 11.32, which means Apple is trading at a premium to the group.
Also, we should mention that AAPL has a PEG ratio of 2.21. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. Computer - Micro Computers stocks are, on average, holding a PEG ratio of 1.61 based on yesterday's closing prices.
The Computer - Micro Computers industry is part of the Computer and Technology sector. With its current Zacks Industry Rank of 91, this industry ranks in the top 38% of all industries, numbering over 250.
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.
Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions.