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Apple (AAPL) Gains But Lags Market: What You Should Know
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Apple (AAPL - Free Report) closed the most recent trading day at $351.73, moving +0.04% from the previous trading session. This change lagged the S&P 500's 0.06% gain on the day. Elsewhere, the Dow lost 0.15%, while the tech-heavy Nasdaq added 0.33%.
AAPL will be looking to display strength as it nears its next earnings release. The company is expected to report EPS of $1.96, down 10.09% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $51.06 billion, down 5.11% from the year-ago period.
AAPL's full-year Zacks Consensus Estimates are calling for earnings of $12.32 per share and revenue of $262.22 billion. These results would represent year-over-year changes of +3.62% and +0.79%, respectively.
Any recent changes to analyst estimates for AAPL should also be noted by investors. 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.
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. Within the past 30 days, our consensus EPS projection has moved 0.09% higher. AAPL is currently sporting a Zacks Rank of #3 (Hold).
Valuation is also important, so investors should note that AAPL has a Forward P/E ratio of 28.55 right now. This valuation marks a premium compared to its industry's average Forward P/E of 8.02.
It is also worth noting that AAPL currently has a PEG ratio of 2.6. 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. Computer - Mini computers stocks are, on average, holding a PEG ratio of 2.6 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 92, which puts it in the top 37% 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.
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Apple (AAPL) Gains But Lags Market: What You Should Know
Apple (AAPL - Free Report) closed the most recent trading day at $351.73, moving +0.04% from the previous trading session. This change lagged the S&P 500's 0.06% gain on the day. Elsewhere, the Dow lost 0.15%, while the tech-heavy Nasdaq added 0.33%.
AAPL will be looking to display strength as it nears its next earnings release. The company is expected to report EPS of $1.96, down 10.09% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $51.06 billion, down 5.11% from the year-ago period.
AAPL's full-year Zacks Consensus Estimates are calling for earnings of $12.32 per share and revenue of $262.22 billion. These results would represent year-over-year changes of +3.62% and +0.79%, respectively.
Any recent changes to analyst estimates for AAPL should also be noted by investors. 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.
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. Within the past 30 days, our consensus EPS projection has moved 0.09% higher. AAPL is currently sporting a Zacks Rank of #3 (Hold).
Valuation is also important, so investors should note that AAPL has a Forward P/E ratio of 28.55 right now. This valuation marks a premium compared to its industry's average Forward P/E of 8.02.
It is also worth noting that AAPL currently has a PEG ratio of 2.6. 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. Computer - Mini computers stocks are, on average, holding a PEG ratio of 2.6 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 92, which puts it in the top 37% 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.