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Apple (AAPL) Outpaces Stock Market Gains: What You Should Know
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In the latest trading session, Apple (AAPL - Free Report) closed at $183.95, marking a +0.35% move from the previous day. This move outpaced the S&P 500's daily gain of 0.08%. Elsewhere, the Dow lost 0.68%, while the tech-heavy Nasdaq lost 0.61%.
Heading into today, shares of the maker of iPhones, iPads and other products had gained 6.53% over the past month, lagging the Computer and Technology sector's gain of 11.52% and outpacing the S&P 500's gain of 6.1% in that time.
Apple will be looking to display strength as it nears its next earnings release. In that report, analysts expect Apple to post earnings of $1.18 per share. This would mark a year-over-year decline of 1.67%. Meanwhile, our latest consensus estimate is calling for revenue of $81.17 billion, down 2.16% from the prior-year quarter.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $5.99 per share and revenue of $384.34 billion. These totals would mark changes of -1.96% and -2.53%, respectively, from last year.
It is also important to note the recent changes to analyst estimates for Apple. Recent revisions tend to reflect the latest 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. 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 0.03% higher. Apple is holding a Zacks Rank of #3 (Hold) right now.
Investors should also note Apple's current valuation metrics, including its Forward P/E ratio of 30.59. Its industry sports an average Forward P/E of 9.23, so we one might conclude that Apple is trading at a premium comparatively.
We can also see that AAPL currently has a PEG ratio of 2.45. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. Computer - Mini computers stocks are, on average, holding a PEG ratio of 2.45 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 197, which puts it in the bottom 22% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our 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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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Apple (AAPL) Outpaces Stock Market Gains: What You Should Know
In the latest trading session, Apple (AAPL - Free Report) closed at $183.95, marking a +0.35% move from the previous day. This move outpaced the S&P 500's daily gain of 0.08%. Elsewhere, the Dow lost 0.68%, while the tech-heavy Nasdaq lost 0.61%.
Heading into today, shares of the maker of iPhones, iPads and other products had gained 6.53% over the past month, lagging the Computer and Technology sector's gain of 11.52% and outpacing the S&P 500's gain of 6.1% in that time.
Apple will be looking to display strength as it nears its next earnings release. In that report, analysts expect Apple to post earnings of $1.18 per share. This would mark a year-over-year decline of 1.67%. Meanwhile, our latest consensus estimate is calling for revenue of $81.17 billion, down 2.16% from the prior-year quarter.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $5.99 per share and revenue of $384.34 billion. These totals would mark changes of -1.96% and -2.53%, respectively, from last year.
It is also important to note the recent changes to analyst estimates for Apple. Recent revisions tend to reflect the latest 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. 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 0.03% higher. Apple is holding a Zacks Rank of #3 (Hold) right now.
Investors should also note Apple's current valuation metrics, including its Forward P/E ratio of 30.59. Its industry sports an average Forward P/E of 9.23, so we one might conclude that Apple is trading at a premium comparatively.
We can also see that AAPL currently has a PEG ratio of 2.45. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. Computer - Mini computers stocks are, on average, holding a PEG ratio of 2.45 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 197, which puts it in the bottom 22% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our 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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.