Apple (AAPL - Free Report) closed the most recent trading day at $200.12, moving +1.58% from the previous trading session. The stock outpaced the S&P 500's daily gain of 0.11%. Elsewhere, the Dow lost 0.32%, while the tech-heavy Nasdaq added 0.19%.
Prior to today's trading, shares of the maker of iPhones, iPads and other products had gained 14.2% over the past month. This has outpaced the Computer and Technology sector's gain of 5.46% and the S&P 500's gain of 3.84% in that time.
Investors will be hoping for strength from AAPL as it approaches its next earnings release, which is expected to be April 30, 2019. On that day, AAPL is projected to report earnings of $2.37 per share, which would represent a year-over-year decline of 13.19%. Our most recent consensus estimate is calling for quarterly revenue of $57.60 billion, down 5.79% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $11.41 per share and revenue of $254.70 billion. These totals would mark changes of -4.2% and -4.1%, respectively, from last year.
Investors should also note any recent changes to analyst estimates for AAPL. Recent revisions tend to reflect the latest near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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. Within the past 30 days, our consensus EPS projection has moved 0.17% higher. AAPL is currently a Zacks Rank #3 (Hold).
In terms of valuation, AAPL is currently trading at a Forward P/E ratio of 17.27. This represents a premium compared to its industry's average Forward P/E of 15.28.
Also, we should mention that AAPL has a PEG ratio of 2.01. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. The Computer - Mini computers industry currently had an average PEG ratio of 2.79 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 52, putting it in the top 21% 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.
You can find more information on all of these metrics, and much more, on Zacks.com.