Apple (AAPL - Free Report) closed the most recent trading day at $226.87, moving -0.65% from the previous trading session. The stock lagged the S&P 500's daily loss of 0.28%. At the same time, the Dow added 0.09%, and the tech-heavy Nasdaq lost 1.19%.
Coming into today, shares of the maker of iPhones, iPads and other products had gained 10.26% in the past month. In that same time, the Computer and Technology sector gained 2.84%, while the S&P 500 gained 2.24%.
Investors will be hoping for strength from AAPL as it approaches its next earnings release, which is expected to be November 1, 2018. In that report, analysts expect AAPL to post earnings of $2.75 per share. This would mark year-over-year growth of 32.85%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $60.98 billion, up 15.97% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $11.68 per share and revenue of $263.68 billion. These totals would mark changes of +26.82% and +15.03%, respectively, from last year.
Any recent changes to analyst estimates for AAPL should also be noted by investors. These recent revisions tend to reflect the evolving nature of short-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
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. The Zacks Consensus EPS estimate remained stagnant within the past month. AAPL is currently sporting a Zacks Rank of #2 (Buy).
Investors should also note AAPL's current valuation metrics, including its Forward P/E ratio of 19.55. This represents a premium compared to its industry's average Forward P/E of 18.79.
We can also see that AAPL currently has a PEG ratio of 1.77. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. AAPL's industry had an average PEG ratio of 1.88 as of yesterday's close.
The Computer - Mini computers industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 11, putting it in the top 4% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our 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.