In the last Apple trading session (AAPL – Free Report) closed at $ 126.11, up 0.8% from the previous day. That move lagged 0.47% of the daily gain in the S&P 500.
Prior to today’s trading, shares in the maker of iPhone, iPad and other products rose 3.55% in the past month. This outpaced the 2.06% growth in the computer and technology sector and the 0.12% fall in the S&P 500 during that time.
Wall Street will look forward to positive feedback from the AAPL as the next P&L date approaches. In this report, analysts expect AAPL earnings of $ 0.99 per share. This translates into an increase of 52.31% year on year. Meanwhile, our latest consensus forecast is $ 72.1 billion in revenue, up 20.8% from the previous quarter.
Looking at the full year, our Zacks consensus estimates suggest analysts are expecting $ 5.17 per share in earnings and $ 355.55 billion in revenues. These totals represent a change of + 57.62% and + 29.52%, respectively, compared to last year.
It is also important to note the recent changes in analyst estimates for the AAPL. Recent developments tend to reflect recent short-term business trends. As a result, we can interpret the positive revision as a good sign for the company’s business prospects.
Our research shows that these valuation changes are directly related to short-term stock prices. We developed the Zacks ranking to capitalize on this phenomenon. Our system takes these rating changes into account and provides a clear and actionable rating model.
Ranging from # 1 (Strong Buy) to # 5 (Strong Sell), the Zacks Rank system has a proven, independently audited track record of excellent performance, with # 1 stocks earning an average of + 25% annually since 1988. Our consensus EPS is up 1.36% in 30 days. AAPL is currently ranked # 2 by Zacks (Buy).
Investors should also look at the AAPL’s current estimates, including its forward P / E ratio of 24.57. Its industry has an average forward P / E ratio of 16.99, so it can be inferred that AAPL is trading at a premium.
Meanwhile, the PEG ratio for AAPL is currently 1.97. The PEG ratio is similar to the widely used P / E ratio, but it also takes into account the expected rate of profit growth for the company. The computer and mini computer industry currently had an average PEG ratio of 1.19 at yesterday’s close.
Computers – The mini-computer industry is part of the computer and technology sector. This group is ranked 29th on the Zacks industry rankings, making it one of the top 12% of all 250+ industries.
The Zacks Industry Rank measures the strength of our individual industry groups by measuring the average Zacks rating for individual stocks within the groups. Our research shows that the top 50% of industries outperform the bottom half by 2: 1.
Be sure to use Zacks. Come to watch all of these stock movement indicators and more in the upcoming trading sessions.