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Apple (AAPL) Advances While Market Declines: Some Information for Investors
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Apple (AAPL - Free Report) closed at $340.43 in the latest trading session, marking a +1.12% move from the prior day. The stock outpaced the S&P 500's daily loss of 0.47%. Elsewhere, the Dow gained 0.1%, while the tech-heavy Nasdaq lost 1.25%.
The maker of iPhones, iPads and other products's stock has climbed by 6.76% in the past month, exceeding the Computer and Technology sector's gain of 6.08% and the S&P 500's gain of 1.15%.
The upcoming earnings release of Apple will be of great interest to investors. The company is forecasted to report an EPS of $1.99, showcasing a 7.57% upward movement from the corresponding quarter of the prior year. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $113.01 billion, up 10.29% from the year-ago period.
For the annual period, the Zacks Consensus Estimates anticipate earnings of $8.86 per share and a revenue of $477.45 billion, signifying shifts of +18.77% and +14.73%, respectively, from the last year.
Investors should also note any recent changes to analyst estimates for Apple. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the business health 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.
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 past month, the Zacks Consensus EPS estimate has moved 0.2% lower. As of now, Apple holds a Zacks Rank of #3 (Hold).
In terms of valuation, Apple is currently trading at a Forward P/E ratio of 35.29. This signifies a premium in comparison to the average Forward P/E of 22.19 for its industry.
It's also important to note that AAPL currently trades at a PEG ratio of 2.68. The PEG ratio bears resemblance to the frequently used P/E ratio, but this parameter also includes the company's expected earnings growth trajectory. The Computer - Micro Computers industry had an average PEG ratio of 1.68 as trading concluded yesterday.
The Computer - Micro Computers industry is part of the Computer and Technology sector. At present, this industry carries a Zacks Industry Rank of 14, placing it within the top 6% 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.
You can find more information on all of these metrics, and much more, on Zacks.com.
View the Zacks #1 Rank List
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Apple (AAPL) Advances While Market Declines: Some Information for Investors
Apple (AAPL - Free Report) closed at $340.43 in the latest trading session, marking a +1.12% move from the prior day. The stock outpaced the S&P 500's daily loss of 0.47%. Elsewhere, the Dow gained 0.1%, while the tech-heavy Nasdaq lost 1.25%.
The maker of iPhones, iPads and other products's stock has climbed by 6.76% in the past month, exceeding the Computer and Technology sector's gain of 6.08% and the S&P 500's gain of 1.15%.
The upcoming earnings release of Apple will be of great interest to investors. The company is forecasted to report an EPS of $1.99, showcasing a 7.57% upward movement from the corresponding quarter of the prior year. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $113.01 billion, up 10.29% from the year-ago period.
For the annual period, the Zacks Consensus Estimates anticipate earnings of $8.86 per share and a revenue of $477.45 billion, signifying shifts of +18.77% and +14.73%, respectively, from the last year.
Investors should also note any recent changes to analyst estimates for Apple. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the business health 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.
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 past month, the Zacks Consensus EPS estimate has moved 0.2% lower. As of now, Apple holds a Zacks Rank of #3 (Hold).
In terms of valuation, Apple is currently trading at a Forward P/E ratio of 35.29. This signifies a premium in comparison to the average Forward P/E of 22.19 for its industry.
It's also important to note that AAPL currently trades at a PEG ratio of 2.68. The PEG ratio bears resemblance to the frequently used P/E ratio, but this parameter also includes the company's expected earnings growth trajectory. The Computer - Micro Computers industry had an average PEG ratio of 1.68 as trading concluded yesterday.
The Computer - Micro Computers industry is part of the Computer and Technology sector. At present, this industry carries a Zacks Industry Rank of 14, placing it within the top 6% 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.
You can find more information on all of these metrics, and much more, on Zacks.com.