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Apple (AAPL) Ascends But Remains Behind Market: Some Facts to Note
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Apple (AAPL - Free Report) ended the recent trading session at $253.79, demonstrating a +2.9% change from the preceding day's closing price. This move lagged the S&P 500's daily gain of 2.91%. Elsewhere, the Dow gained 2.49%, while the tech-heavy Nasdaq added 3.83%.
Shares of the maker of iPhones, iPads and other products witnessed a loss of 6.83% over the previous month, beating the performance of the Computer and Technology sector with its loss of 9.45%, and the S&P 500's loss of 7.64%.
Analysts and investors alike will be keeping a close eye on the performance of Apple in its upcoming earnings disclosure. It is anticipated that the company will report an EPS of $1.88, marking a 13.94% rise compared to the same quarter of the previous year. At the same time, our most recent consensus estimate is projecting a revenue of $108.9 billion, reflecting a 14.2% rise from the equivalent quarter last year.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of $8.4 per share and revenue of $461.01 billion, indicating changes of +12.6% and +10.78%, respectively, compared to the previous year.
Investors should also take note of any recent adjustments to 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 business operations and its ability to generate profits.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. Over the past month, there's been a 0.15% fall in the Zacks Consensus EPS estimate. Apple presently features a Zacks Rank of #3 (Hold).
In terms of valuation, Apple is presently being traded at a Forward P/E ratio of 29.37. This denotes a premium relative to the industry average Forward P/E of 11.66.
It's also important to note that AAPL currently trades at a PEG ratio of 2.34. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. AAPL's industry had an average PEG ratio of 1.68 as of yesterday's close.
The Computer - Micro Computers industry is part of the Computer and Technology sector. With its current Zacks Industry Rank of 64, this industry ranks in the top 27% of all industries, numbering over 250.
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) Ascends But Remains Behind Market: Some Facts to Note
Apple (AAPL - Free Report) ended the recent trading session at $253.79, demonstrating a +2.9% change from the preceding day's closing price. This move lagged the S&P 500's daily gain of 2.91%. Elsewhere, the Dow gained 2.49%, while the tech-heavy Nasdaq added 3.83%.
Shares of the maker of iPhones, iPads and other products witnessed a loss of 6.83% over the previous month, beating the performance of the Computer and Technology sector with its loss of 9.45%, and the S&P 500's loss of 7.64%.
Analysts and investors alike will be keeping a close eye on the performance of Apple in its upcoming earnings disclosure. It is anticipated that the company will report an EPS of $1.88, marking a 13.94% rise compared to the same quarter of the previous year. At the same time, our most recent consensus estimate is projecting a revenue of $108.9 billion, reflecting a 14.2% rise from the equivalent quarter last year.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of $8.4 per share and revenue of $461.01 billion, indicating changes of +12.6% and +10.78%, respectively, compared to the previous year.
Investors should also take note of any recent adjustments to 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 business operations and its ability to generate profits.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. Over the past month, there's been a 0.15% fall in the Zacks Consensus EPS estimate. Apple presently features a Zacks Rank of #3 (Hold).
In terms of valuation, Apple is presently being traded at a Forward P/E ratio of 29.37. This denotes a premium relative to the industry average Forward P/E of 11.66.
It's also important to note that AAPL currently trades at a PEG ratio of 2.34. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. AAPL's industry had an average PEG ratio of 1.68 as of yesterday's close.
The Computer - Micro Computers industry is part of the Computer and Technology sector. With its current Zacks Industry Rank of 64, this industry ranks in the top 27% of all industries, numbering over 250.
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.