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Apple (AAPL) Exceeds Market Returns: Some Facts to Consider
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Apple (AAPL - Free Report) ended the recent trading session at $333.69, demonstrating a +1.02% change from the preceding day's closing price. The stock outpaced the S&P 500's daily gain of 0.73%. Meanwhile, the Dow gained 0.49%, and the Nasdaq, a tech-heavy index, added 1.19%.
Prior to today's trading, shares of the maker of iPhones, iPads and other products had gained 0.64% lagged the Computer and Technology sector's gain of 6.36% and outpaced the S&P 500's gain of 0.55%.
Analysts and investors alike will be keeping a close eye on the performance of Apple in its upcoming earnings disclosure. On that day, Apple is projected to report earnings of $1.99 per share, which would represent year-over-year growth of 7.57%. In the meantime, our current consensus estimate forecasts the revenue to be $112.84 billion, indicating a 10.12% growth compared to the corresponding quarter of the prior year.
AAPL's full-year Zacks Consensus Estimates are calling for earnings of $8.85 per share and revenue of $477.45 billion. These results would represent year-over-year changes of +18.63% and +14.73%, respectively.
Investors might also notice recent changes to analyst estimates for Apple. These revisions help to show the ever-changing nature of near-term business trends. Hence, positive alterations in estimates signify analyst optimism regarding the business and profitability.
Based on our research, we believe these estimate revisions are directly related to near-term stock moves. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the past month, there's been a 0.2% fall in the Zacks Consensus EPS estimate. Apple presently features a Zacks Rank of #3 (Hold).
With respect to valuation, Apple is currently being traded at a Forward P/E ratio of 34.63. This indicates a premium in contrast to its industry's Forward P/E of 20.76.
Meanwhile, AAPL's PEG ratio is currently 2.63. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. Computer - Micro Computers stocks are, on average, holding a PEG ratio of 1.67 based on yesterday's closing prices.
The Computer - Micro Computers industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 26, which puts 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.
Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.
View the Zacks #1 Rank List
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Apple (AAPL) Exceeds Market Returns: Some Facts to Consider
Apple (AAPL - Free Report) ended the recent trading session at $333.69, demonstrating a +1.02% change from the preceding day's closing price. The stock outpaced the S&P 500's daily gain of 0.73%. Meanwhile, the Dow gained 0.49%, and the Nasdaq, a tech-heavy index, added 1.19%.
Prior to today's trading, shares of the maker of iPhones, iPads and other products had gained 0.64% lagged the Computer and Technology sector's gain of 6.36% and outpaced the S&P 500's gain of 0.55%.
Analysts and investors alike will be keeping a close eye on the performance of Apple in its upcoming earnings disclosure. On that day, Apple is projected to report earnings of $1.99 per share, which would represent year-over-year growth of 7.57%. In the meantime, our current consensus estimate forecasts the revenue to be $112.84 billion, indicating a 10.12% growth compared to the corresponding quarter of the prior year.
AAPL's full-year Zacks Consensus Estimates are calling for earnings of $8.85 per share and revenue of $477.45 billion. These results would represent year-over-year changes of +18.63% and +14.73%, respectively.
Investors might also notice recent changes to analyst estimates for Apple. These revisions help to show the ever-changing nature of near-term business trends. Hence, positive alterations in estimates signify analyst optimism regarding the business and profitability.
Based on our research, we believe these estimate revisions are directly related to near-term stock moves. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the past month, there's been a 0.2% fall in the Zacks Consensus EPS estimate. Apple presently features a Zacks Rank of #3 (Hold).
With respect to valuation, Apple is currently being traded at a Forward P/E ratio of 34.63. This indicates a premium in contrast to its industry's Forward P/E of 20.76.
Meanwhile, AAPL's PEG ratio is currently 2.63. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. Computer - Micro Computers stocks are, on average, holding a PEG ratio of 1.67 based on yesterday's closing prices.
The Computer - Micro Computers industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 26, which puts 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.
Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.