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Apple (AAPL) Stock Moves -0.91%: What You Should Know

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Zacks Equity Research
·3 min read
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In the latest trading session, Apple (AAPL) closed at $284.43, marking a -0.91% move from the previous day. This change was narrower than the S&P 500's daily loss of 2.2%. At the same time, the Dow lost 1.86%, and the tech-heavy Nasdaq lost 1.44%.

Coming into today, shares of the maker of iPhones, iPads and other products had gained 13.52% in the past month. In that same time, the Computer and Technology sector gained 6.16%, while the S&P 500 gained 5.45%.

AAPL will be looking to display strength as it nears its next earnings release, which is expected to be April 30, 2020. On that day, AAPL is projected to report earnings of $2.15 per share, which would represent a year-over-year decline of 12.6%. Our most recent consensus estimate is calling for quarterly revenue of $54 billion, down 6.91% from the year-ago period.

AAPL's full-year Zacks Consensus Estimates are calling for earnings of $12.29 per share and revenue of $259.70 billion. These results would represent year-over-year changes of +3.36% and -0.18%, 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.

Our research shows that these estimate changes are directly correlated with near-term stock prices. 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. Within the past 30 days, our consensus EPS projection has moved 8.26% lower. AAPL is holding a Zacks Rank of #3 (Hold) right now.

Valuation is also important, so investors should note that AAPL has a Forward P/E ratio of 23.35 right now. For comparison, its industry has an average Forward P/E of 7.55, which means AAPL is trading at a premium to the group.

Also, we should mention that AAPL has a PEG ratio of 2.19. 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 was holding an average PEG ratio of 2.19 at yesterday's closing price.

The Computer - Mini computers industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 42, putting it in the top 17% 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.

Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.


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