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Apple (AAPL) Gains As Market Dips: What You Should Know
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In the latest trading session, Apple (AAPL - Free Report) closed at $220.79, marking a +1.57% move from the previous day. This change outpaced the S&P 500's 0.35% loss on the day. At the same time, the Dow lost 0.68%, and the tech-heavy Nasdaq gained 0.08%.
Heading into today, shares of the maker of iPhones, iPads and other products had gained 1.01% over the past month, lagging the Computer and Technology sector's gain of 1.48% and the S&P 500's gain of 2.47% in that time.
AAPL will be looking to display strength as it nears its next earnings release, which is expected to be November 1, 2018. On that day, AAPL is projected to report earnings of $2.77 per share, which would represent year-over-year growth of 33.82%. Meanwhile, our latest consensus estimate is calling for revenue of $61.17 billion, up 16.33% from the prior-year quarter.
AAPL's full-year Zacks Consensus Estimates are calling for earnings of $11.76 per share and revenue of $263.85 billion. These results would represent year-over-year changes of +27.69% and +15.1%, respectively.
Investors should also note any recent changes to analyst estimates for AAPL. 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.
Based on our research, we believe these estimate revisions are directly related to near-team 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. The Zacks Consensus EPS estimate has moved 0.66% higher within the past month. AAPL is currently a Zacks Rank #1 (Strong Buy).
Digging into valuation, AAPL currently has a Forward P/E ratio of 18.51. This represents a premium compared to its industry's average Forward P/E of 18.49.
It is also worth noting that AAPL currently has a PEG ratio of 1.92. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. The Computer - Mini computers industry currently had an average PEG ratio of 1.96 as of yesterday's close.
The Computer - Mini computers industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 1, which puts it in the top 0% 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.
You can find more information on all of these metrics, and much more, on Zacks.com.
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Apple (AAPL) Gains As Market Dips: What You Should Know
In the latest trading session, Apple (AAPL - Free Report) closed at $220.79, marking a +1.57% move from the previous day. This change outpaced the S&P 500's 0.35% loss on the day. At the same time, the Dow lost 0.68%, and the tech-heavy Nasdaq gained 0.08%.
Heading into today, shares of the maker of iPhones, iPads and other products had gained 1.01% over the past month, lagging the Computer and Technology sector's gain of 1.48% and the S&P 500's gain of 2.47% in that time.
AAPL will be looking to display strength as it nears its next earnings release, which is expected to be November 1, 2018. On that day, AAPL is projected to report earnings of $2.77 per share, which would represent year-over-year growth of 33.82%. Meanwhile, our latest consensus estimate is calling for revenue of $61.17 billion, up 16.33% from the prior-year quarter.
AAPL's full-year Zacks Consensus Estimates are calling for earnings of $11.76 per share and revenue of $263.85 billion. These results would represent year-over-year changes of +27.69% and +15.1%, respectively.
Investors should also note any recent changes to analyst estimates for AAPL. 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.
Based on our research, we believe these estimate revisions are directly related to near-team 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. The Zacks Consensus EPS estimate has moved 0.66% higher within the past month. AAPL is currently a Zacks Rank #1 (Strong Buy).
Digging into valuation, AAPL currently has a Forward P/E ratio of 18.51. This represents a premium compared to its industry's average Forward P/E of 18.49.
It is also worth noting that AAPL currently has a PEG ratio of 1.92. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. The Computer - Mini computers industry currently had an average PEG ratio of 1.96 as of yesterday's close.
The Computer - Mini computers industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 1, which puts it in the top 0% 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.
You can find more information on all of these metrics, and much more, on Zacks.com.