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Apple (AAPL) Stock Moves -1.18%: What You Should Know
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Apple (AAPL - Free Report) closed the most recent trading day at $307.56, moving -1.18% from the previous trading session. The stock's change was more than the S&P 500's daily loss of 2.65%. On the other hand, the Dow registered a loss of 1.35%, and the technology-centric Nasdaq decreased by 4.18%.
Shares of the maker of iPhones, iPads and other products have appreciated by 8.28% over the course of the past month, underperforming the Computer and Technology sector's gain of 10.37%, and outperforming the S&P 500's gain of 5.47%.
The investment community will be paying close attention to the earnings performance of Apple in its upcoming release. The company is forecasted to report an EPS of $1.86, showcasing a 18.47% upward movement from the corresponding quarter of the prior year. At the same time, our most recent consensus estimate is projecting a revenue of $108.7 billion, reflecting a 15.59% rise from the equivalent quarter last year.
Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of $8.74 per share and revenue of $477.94 billion. These totals would mark changes of +17.16% and +14.84%, respectively, from last year.
Investors should also note any recent changes to analyst estimates for Apple. These revisions typically reflect the latest short-term business trends, which can change frequently. With this in mind, we can consider positive estimate revisions a sign of optimism about the business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable 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. Over the past month, there's been no change in the Zacks Consensus EPS estimate. At present, Apple boasts a Zacks Rank of #3 (Hold).
Valuation is also important, so investors should note that Apple has a Forward P/E ratio of 35.6 right now. This indicates a premium in contrast to its industry's Forward P/E of 29.02.
We can additionally observe that AAPL currently boasts a PEG ratio of 2.71. 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 2.47 at yesterday's closing price.
The Computer - Micro Computers industry is part of the Computer and Technology sector. This industry, currently bearing a Zacks Industry Rank of 27, finds itself in the top 12% echelons of all 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.
Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.
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Apple (AAPL) Stock Moves -1.18%: What You Should Know
Apple (AAPL - Free Report) closed the most recent trading day at $307.56, moving -1.18% from the previous trading session. The stock's change was more than the S&P 500's daily loss of 2.65%. On the other hand, the Dow registered a loss of 1.35%, and the technology-centric Nasdaq decreased by 4.18%.
Shares of the maker of iPhones, iPads and other products have appreciated by 8.28% over the course of the past month, underperforming the Computer and Technology sector's gain of 10.37%, and outperforming the S&P 500's gain of 5.47%.
The investment community will be paying close attention to the earnings performance of Apple in its upcoming release. The company is forecasted to report an EPS of $1.86, showcasing a 18.47% upward movement from the corresponding quarter of the prior year. At the same time, our most recent consensus estimate is projecting a revenue of $108.7 billion, reflecting a 15.59% rise from the equivalent quarter last year.
Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of $8.74 per share and revenue of $477.94 billion. These totals would mark changes of +17.16% and +14.84%, respectively, from last year.
Investors should also note any recent changes to analyst estimates for Apple. These revisions typically reflect the latest short-term business trends, which can change frequently. With this in mind, we can consider positive estimate revisions a sign of optimism about the business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable 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. Over the past month, there's been no change in the Zacks Consensus EPS estimate. At present, Apple boasts a Zacks Rank of #3 (Hold).
Valuation is also important, so investors should note that Apple has a Forward P/E ratio of 35.6 right now. This indicates a premium in contrast to its industry's Forward P/E of 29.02.
We can additionally observe that AAPL currently boasts a PEG ratio of 2.71. 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 2.47 at yesterday's closing price.
The Computer - Micro Computers industry is part of the Computer and Technology sector. This industry, currently bearing a Zacks Industry Rank of 27, finds itself in the top 12% echelons of all 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.
Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.