In the latest trading session, Apple (AAPL - Free Report) closed at $156.15, marking a -0.65% move from the previous day. This change lagged the S&P 500's daily gain of 0.86%. Elsewhere, the Dow gained 1.14%, while the tech-heavy Nasdaq added 0.38%.
Coming into today, shares of the maker of iPhones, iPads and other products had lost 13.14% in the past month. In that same time, the Computer and Technology sector lost 5.08%, while the S&P 500 lost 7.55%.
AAPL will be looking to display strength as it nears its next earnings release, which is expected to be February 7, 2019. In that report, analysts expect AAPL to post earnings of $4.66 per share. This would mark year-over-year growth of 19.79%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $91.26 billion, up 3.36% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $13.18 per share and revenue of $277.17 billion, which would represent changes of +10.66% and +4.36%, respectively, from the prior year.
It is also important to note the recent changes to analyst estimates for AAPL. These recent revisions tend to reflect the evolving nature of short-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 1.87% lower within the past month. AAPL is holding a Zacks Rank of #3 (Hold) right now.
Investors should also note AAPL's current valuation metrics, including its Forward P/E ratio of 11.92. This represents a discount compared to its industry's average Forward P/E of 13.74.
Also, we should mention that AAPL has a PEG ratio of 1.21. 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. Computer - Mini computers stocks are, on average, holding a PEG ratio of 1.87 based on yesterday's closing prices.
The Computer - Mini computers industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 59, which puts it in the top 23% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Make sure to utilize Zacks. Com to follow all of these stock-moving metrics, and more, in the coming trading sessions.