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Apple (AAPL) Rises As Market Takes a Dip: Key Facts
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In the latest trading session, Apple (AAPL - Free Report) closed at $294.38, marking a +1.73% move from the previous day. The stock outpaced the S&P 500's daily loss of 0.22%. On the other hand, the Dow registered a loss of 0.03%, and the technology-centric Nasdaq decreased by 0.66%.
Prior to today's trading, shares of the maker of iPhones, iPads and other products had lost 8.2% lagged the Computer and Technology sector's loss of 2.58% and the S&P 500's loss of 1.21%.
The investment community will be closely monitoring the performance of Apple in its forthcoming earnings report. It is anticipated that the company will report an EPS of $1.88, marking a 19.75% rise 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.
For the annual period, the Zacks Consensus Estimates anticipate earnings of $8.74 per share and a revenue of $478.03 billion, signifying shifts of +17.16% and +14.87%, respectively, from the last year.
It is also important to note the recent changes to analyst estimates for Apple. These revisions typically reflect the latest short-term business trends, which can change frequently. Consequently, upward revisions in estimates express analysts' positivity towards the business operations and its ability to generate profits.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. 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, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has remained steady. As of now, Apple holds a Zacks Rank of #3 (Hold).
Looking at its valuation, Apple is holding a Forward P/E ratio of 33.1. For comparison, its industry has an average Forward P/E of 22.98, which means Apple is trading at a premium to the group.
Investors should also note that AAPL has a PEG ratio of 2.52 right now. 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. As of the close of trade yesterday, the Computer - Micro Computers industry held an average PEG ratio of 2.52.
The Computer - Micro Computers industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 21, putting it in the top 9% 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
View the Zacks #1 Rank List
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Apple (AAPL) Rises As Market Takes a Dip: Key Facts
In the latest trading session, Apple (AAPL - Free Report) closed at $294.38, marking a +1.73% move from the previous day. The stock outpaced the S&P 500's daily loss of 0.22%. On the other hand, the Dow registered a loss of 0.03%, and the technology-centric Nasdaq decreased by 0.66%.
Prior to today's trading, shares of the maker of iPhones, iPads and other products had lost 8.2% lagged the Computer and Technology sector's loss of 2.58% and the S&P 500's loss of 1.21%.
The investment community will be closely monitoring the performance of Apple in its forthcoming earnings report. It is anticipated that the company will report an EPS of $1.88, marking a 19.75% rise 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.
For the annual period, the Zacks Consensus Estimates anticipate earnings of $8.74 per share and a revenue of $478.03 billion, signifying shifts of +17.16% and +14.87%, respectively, from the last year.
It is also important to note the recent changes to analyst estimates for Apple. These revisions typically reflect the latest short-term business trends, which can change frequently. Consequently, upward revisions in estimates express analysts' positivity towards the business operations and its ability to generate profits.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. 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, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has remained steady. As of now, Apple holds a Zacks Rank of #3 (Hold).
Looking at its valuation, Apple is holding a Forward P/E ratio of 33.1. For comparison, its industry has an average Forward P/E of 22.98, which means Apple is trading at a premium to the group.
Investors should also note that AAPL has a PEG ratio of 2.52 right now. 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. As of the close of trade yesterday, the Computer - Micro Computers industry held an average PEG ratio of 2.52.
The Computer - Micro Computers industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 21, putting it in the top 9% 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.