Apple (AAPL - Free Report) closed the most recent trading day at $147.93, moving -0.22% from the previous trading session. This change lagged the S&P 500's daily gain of 0.7%. At the same time, the Dow added 0.42%, and the tech-heavy Nasdaq gained 1.26%.
Prior to today's trading, shares of the maker of iPhones, iPads and other products had lost 15.14% over the past month. This has lagged the Computer and Technology sector's loss of 4.86% and the S&P 500's loss of 6.13% in that time.
Investors will be hoping for strength from AAPL as it approaches its next earnings release, which is expected to be February 7, 2019. In that report, analysts expect AAPL to post earnings of $4.21 per share. This would mark year-over-year growth of 8.23%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $84.92 billion, down 3.82% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $12.13 per share and revenue of $262.77 billion, which would represent changes of +1.85% and -1.06%, respectively, from the prior year.
Investors might also notice recent changes to analyst estimates for AAPL. These revisions help to show the ever-changing nature of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 2.47% lower. AAPL is currently a Zacks Rank #3 (Hold).
In terms of valuation, AAPL is currently trading at a Forward P/E ratio of 12.23. This represents a discount compared to its industry's average Forward P/E of 13.82.
We can also see that AAPL currently has a PEG ratio of 1.24. 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 1.85 based on yesterday's closing prices.
The Computer - Mini computers industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 37, putting it in the top 15% 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.
To follow AAPL in the coming trading sessions, be sure to utilize Zacks.com.