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) Stock Moves -1.10%: What You Should Know
Read MoreHide Full Article
In the latest close session, Apple (AAPL - Free Report) was down 1.1% at $295.95. This change was narrower than the S&P 500's daily loss of 1.22%. On the other hand, the Dow registered a loss of 0.98%, and the technology-centric Nasdaq decreased by 1.35%.
The maker of iPhones, iPads and other products's stock has climbed by 0.09% in the past month, falling short of the Computer and Technology sector's gain of 1.19% and the S&P 500's gain of 1.56%.
The investment community will be closely monitoring the performance of Apple in its forthcoming earnings report. The company is forecasted to report an EPS of $1.88, showcasing a 19.75% upward movement from the corresponding quarter of the prior year. Simultaneously, our latest consensus estimate expects the revenue to be $108.71 billion, showing a 15.6% escalation compared to the year-ago quarter.
AAPL's full-year Zacks Consensus Estimates are calling for earnings of $8.75 per share and revenue of $478.1 billion. These results would represent year-over-year changes of +17.29% and +14.88%, respectively.
It's also important for investors to be aware of any recent modifications 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.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional rating system.
The Zacks Rank system, which varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. Over the past month, there's been a 0.03% rise in the Zacks Consensus EPS estimate. Apple presently features a Zacks Rank of #2 (Buy).
In terms of valuation, Apple is currently trading at a Forward P/E ratio of 34.22. This valuation marks a premium compared to its industry average Forward P/E of 23.58.
Also, we should mention that AAPL has a PEG ratio of 2.61. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. The average PEG ratio for the Computer - Micro Computers industry stood at 2.46 at the close of the market yesterday.
The Computer - Micro Computers industry is part of the Computer and Technology sector. At present, this industry carries a Zacks Industry Rank of 19, placing it within the top 8% of over 250 industries.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow AAPL in the coming trading sessions, be sure to utilize Zacks.com.
View the Zacks #1 Rank List
Image: Bigstock
Apple (AAPL) Stock Moves -1.10%: What You Should Know
In the latest close session, Apple (AAPL - Free Report) was down 1.1% at $295.95. This change was narrower than the S&P 500's daily loss of 1.22%. On the other hand, the Dow registered a loss of 0.98%, and the technology-centric Nasdaq decreased by 1.35%.
The maker of iPhones, iPads and other products's stock has climbed by 0.09% in the past month, falling short of the Computer and Technology sector's gain of 1.19% and the S&P 500's gain of 1.56%.
The investment community will be closely monitoring the performance of Apple in its forthcoming earnings report. The company is forecasted to report an EPS of $1.88, showcasing a 19.75% upward movement from the corresponding quarter of the prior year. Simultaneously, our latest consensus estimate expects the revenue to be $108.71 billion, showing a 15.6% escalation compared to the year-ago quarter.
AAPL's full-year Zacks Consensus Estimates are calling for earnings of $8.75 per share and revenue of $478.1 billion. These results would represent year-over-year changes of +17.29% and +14.88%, respectively.
It's also important for investors to be aware of any recent modifications 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.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional rating system.
The Zacks Rank system, which varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. Over the past month, there's been a 0.03% rise in the Zacks Consensus EPS estimate. Apple presently features a Zacks Rank of #2 (Buy).
In terms of valuation, Apple is currently trading at a Forward P/E ratio of 34.22. This valuation marks a premium compared to its industry average Forward P/E of 23.58.
Also, we should mention that AAPL has a PEG ratio of 2.61. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. The average PEG ratio for the Computer - Micro Computers industry stood at 2.46 at the close of the market yesterday.
The Computer - Micro Computers industry is part of the Computer and Technology sector. At present, this industry carries a Zacks Industry Rank of 19, placing it within the top 8% of over 250 industries.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow AAPL in the coming trading sessions, be sure to utilize Zacks.com.