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Apple (AAPL) closed at $132.76 in the latest trading session, marking a +0.67% move from the prior day. This move outpaced the S&P 500's daily loss of 0.38%. Elsewhere, the Dow lost 0.5%, while the tech-heavy Nasdaq lost 0.46%.
Heading into today, shares of the maker of iPhones, iPads and other products had lost 9.39% over the past month, lagging the Computer and Technology sector's loss of 8.38% and the S&P 500's loss of 6.69% in that time.
Wall Street will be looking for positivity from Apple as it approaches its next earnings report date. On that day, Apple is projected to report earnings of $1.14 per share, which would represent a year-over-year decline of 12.31%. Meanwhile, our latest consensus estimate is calling for revenue of $82.44 billion, up 1.23% from the prior-year quarter.
For the full year, our Zacks Consensus Estimates are projecting earnings of $6.11 per share and revenue of $394.91 billion, which would represent changes of +8.91% and +7.95%, respectively, from the prior year.
Investors might also notice recent changes to analyst estimates for Apple. These revisions help to show the ever-changing nature of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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. Over the past month, the Zacks Consensus EPS estimate remained stagnant. Apple is holding a Zacks Rank of #3 (Hold) right now.
In terms of valuation, Apple is currently trading at a Forward P/E ratio of 21.58. Its industry sports an average Forward P/E of 7.83, so we one might conclude that Apple is trading at a premium comparatively.
Investors should also note that AAPL has a PEG ratio of 1.73 right now. 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. AAPL's industry had an average PEG ratio of 1.85 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 229, putting it in the bottom 10% 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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