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Here's Why Apple (AAPL) Gained But Lagged the Market Today
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Apple (AAPL - Free Report) ended the recent trading session at $295.38, demonstrating a +1.3% change from the preceding day's closing price. This change lagged the S&P 500's 1.75% gain on the day. At the same time, the Dow added 1.86%, and the tech-heavy Nasdaq gained 2.54%.
The stock of maker of iPhones, iPads and other products has fallen by 2.44% in the past month, leading the Computer and Technology sector's loss of 3.11% and undershooting the S&P 500's loss of 1.63%.
The investment community will be closely monitoring the performance of Apple in its forthcoming earnings report. The company's upcoming EPS is projected at $1.86, signifying a 18.47% increase compared to the same quarter of the previous year. Our most recent consensus estimate is calling for quarterly revenue of $108.71 billion, up 15.6% from the year-ago period.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of $8.75 per share and revenue of $477.95 billion, indicating changes of +17.29% and +14.85%, respectively, compared to the previous year.
Investors might also notice recent changes to analyst estimates for Apple. Such recent modifications usually signify the changing landscape of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the business outlook.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. 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 last 30 days, the Zacks Consensus EPS estimate has witnessed a 0.03% increase. Apple is holding a Zacks Rank of #3 (Hold) right now.
From a valuation perspective, Apple is currently exchanging hands at a Forward P/E ratio of 33.34. This denotes a premium relative to the industry average Forward P/E of 21.14.
One should further note that AAPL currently holds a PEG ratio of 2.54. 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 2.3 as of yesterday's close.
The Computer - Micro Computers industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 25, putting it in the top 11% of all 250+ industries.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.
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Here's Why Apple (AAPL) Gained But Lagged the Market Today
Apple (AAPL - Free Report) ended the recent trading session at $295.38, demonstrating a +1.3% change from the preceding day's closing price. This change lagged the S&P 500's 1.75% gain on the day. At the same time, the Dow added 1.86%, and the tech-heavy Nasdaq gained 2.54%.
The stock of maker of iPhones, iPads and other products has fallen by 2.44% in the past month, leading the Computer and Technology sector's loss of 3.11% and undershooting the S&P 500's loss of 1.63%.
The investment community will be closely monitoring the performance of Apple in its forthcoming earnings report. The company's upcoming EPS is projected at $1.86, signifying a 18.47% increase compared to the same quarter of the previous year. Our most recent consensus estimate is calling for quarterly revenue of $108.71 billion, up 15.6% from the year-ago period.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of $8.75 per share and revenue of $477.95 billion, indicating changes of +17.29% and +14.85%, respectively, compared to the previous year.
Investors might also notice recent changes to analyst estimates for Apple. Such recent modifications usually signify the changing landscape of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the business outlook.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. 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 last 30 days, the Zacks Consensus EPS estimate has witnessed a 0.03% increase. Apple is holding a Zacks Rank of #3 (Hold) right now.
From a valuation perspective, Apple is currently exchanging hands at a Forward P/E ratio of 33.34. This denotes a premium relative to the industry average Forward P/E of 21.14.
One should further note that AAPL currently holds a PEG ratio of 2.54. 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 2.3 as of yesterday's close.
The Computer - Micro Computers industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 25, putting it in the top 11% of all 250+ industries.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.