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Apple (AAPL) Outpaces Stock Market Gains: What You Should Know
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The most recent trading session ended with Apple (AAPL - Free Report) standing at $214.24, reflecting a +0.55% shift from the previouse trading day's closing. The stock outperformed the S&P 500, which registered a daily gain of 0.23%. Meanwhile, the Dow experienced a drop of 0.17%, and the technology-dominated Nasdaq saw an increase of 0.34%.
The maker of iPhones, iPads and other products's stock has climbed by 12.31% in the past month, exceeding the Computer and Technology sector's loss of 2.01% and the S&P 500's gain of 3.96%.
Market participants will be closely following the financial results of Apple in its upcoming release. The company is forecasted to report an EPS of $1.33, showcasing a 5.56% upward movement from the corresponding quarter of the prior year. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $83.07 billion, up 1.55% from the year-ago period.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $6.58 per share and a revenue of $384.68 billion, representing changes of +7.34% and +0.36%, respectively, from the prior year.
It is also important to note the recent changes to analyst estimates for Apple. These recent revisions tend to reflect the evolving nature of short-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. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable rating system.
The Zacks Rank system, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 0.09% higher. Apple currently has a Zacks Rank of #3 (Hold).
Looking at valuation, Apple is presently trading at a Forward P/E ratio of 32.39. This expresses a premium compared to the average Forward P/E of 11.08 of its industry.
One should further note that AAPL currently holds a PEG ratio of 2.59. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. Computer - Mini computers stocks are, on average, holding a PEG ratio of 2.31 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 49, which puts it in the top 20% 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.
To follow AAPL in the coming trading sessions, be sure to utilize Zacks.com.
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Apple (AAPL) Outpaces Stock Market Gains: What You Should Know
The most recent trading session ended with Apple (AAPL - Free Report) standing at $214.24, reflecting a +0.55% shift from the previouse trading day's closing. The stock outperformed the S&P 500, which registered a daily gain of 0.23%. Meanwhile, the Dow experienced a drop of 0.17%, and the technology-dominated Nasdaq saw an increase of 0.34%.
The maker of iPhones, iPads and other products's stock has climbed by 12.31% in the past month, exceeding the Computer and Technology sector's loss of 2.01% and the S&P 500's gain of 3.96%.
Market participants will be closely following the financial results of Apple in its upcoming release. The company is forecasted to report an EPS of $1.33, showcasing a 5.56% upward movement from the corresponding quarter of the prior year. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $83.07 billion, up 1.55% from the year-ago period.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $6.58 per share and a revenue of $384.68 billion, representing changes of +7.34% and +0.36%, respectively, from the prior year.
It is also important to note the recent changes to analyst estimates for Apple. These recent revisions tend to reflect the evolving nature of short-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. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable rating system.
The Zacks Rank system, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 0.09% higher. Apple currently has a Zacks Rank of #3 (Hold).
Looking at valuation, Apple is presently trading at a Forward P/E ratio of 32.39. This expresses a premium compared to the average Forward P/E of 11.08 of its industry.
One should further note that AAPL currently holds a PEG ratio of 2.59. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. Computer - Mini computers stocks are, on average, holding a PEG ratio of 2.31 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 49, which puts it in the top 20% 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.
To follow AAPL in the coming trading sessions, be sure to utilize Zacks.com.