Apple (AAPL) closed at $ 245.52 in the last trading session, marking a movement of -0.55% from the previous day. This decision is behind the daily gain of 1.15% of the S&P 500. At the same time, the Dow Jones gained 2.39% and the Nasdaq, a technological index, lost 0.45%.
As of today, stocks for the maker of iPhones, iPad, and other products had lost 14.3% in the past month, outpacing the 18.62% loss in the IT and technology sector. that of 24.07% of the S&P 500 during this period.
Investors will expect the strength of AAPL as it nears its next earnings release. The company is expected to report EPS of $ 2.41, down 2.03% from the prior year quarter. Our most recent consensus estimate projects quarterly revenues of $ 57.37 billion, down 1.11% from the same period last year.
For the full year, our Zacks consensus estimates predict earnings per share of $ 13.06 and revenue of $ 272.50 billion, which would represent variations of + 9.84% and + 4.74 %, respectively, compared to the previous year.
It is also important to note the recent changes to analyst estimates for AAPL. These revisions generally reflect the latest short-term business trends, which may change frequently. With this in mind, we can consider the revisions of positive estimates as a sign of optimism regarding the business prospects of the company.
Our research shows that these changes in estimate are directly correlated to short-term share prices. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these changes in estimation into account and provides an exploitable rating system.
The Zacks ranking system, which goes from n ° 1 (strong purchase) to n ° 5 (strong sale), has an impressive track record of outperformance audited from the outside, actions n ° 1 generating an average annual return of + 25 % since 1988. Zacks’ consensus PSE estimate fell 4.34% in the past month. AAPL is currently a Zacks Rank # 3 (Hold).
By digging into the valuation, AAPL currently has a forward P / E ratio of 18.91. Its industry has an average forward P / E of 7.8, so one could conclude that AAPL is trading at a comparatively premium.
Meanwhile, AAPL’s PEG ratio is currently 1.8. The PEG ratio is similar to the widely used P / E ratio, but this measure also takes into account the expected profit growth rate of the company. Computer – Mini-computer stocks hold an average PEG of 1.8 based on yesterday’s closing prices.
The computer industry – minicomputers is part of the computer and technology sector. This group has a Zacks Industry Rank of 51, which places it in the top 20% of the 250+ industries.
The Zacks industry ranking assesses the strength of our individual industry groups by measuring the average Zacks ranking of individual actions within groups. Our research shows that the 50% of the highest rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to follow all of these stock movement metrics, and many more, on Zacks.com.
Click to get this free report Apple Inc. (AAPL): free stock analysis report To read this article on Zacks.com, click here. Zacks Investment Research“data-reactid =” 29 “> Click to get this free report Apple Inc. (AAPL): Free stock analysis report To read this article on Zacks.com, click here. Zacks Investment Research