In the last Apple trading session (AAPL – Free Report) closed at $ 142.83, up 0.65% from the previous day. This change exceeded the 0.16% rise in the S&P 500 index on the day.
Today, shares in the maker of iPhone, iPad and other products have lost 6.53% in the past month, lagging behind the 4.96% fall in the computer and technology sector and the 3.32% fall in the S&P 500 during that time.
Investors will hope for strength from AAPL as its next earnings report approaches. The company’s earnings per share are expected to be $ 1.23, up 68.49% from the previous quarter. Meanwhile, the Zacks consensus estimate is $ 84.95 billion in net sales, up 31.3% from a year earlier.
Our Zacks consensus forecasts full-year earnings of $ 5.59 per share and revenues of $ 367.23 billion, representing + 70.43% and + 33.77% changes, respectively, from the previous year.
It is also important to note the recent changes in analyst estimates for the AAPL. These recent developments tend to reflect the changing nature of short-term business trends. As a result, we can interpret the positive revision as a good sign for the company’s business prospects.
Research shows that these revisions are directly related to short-term stock price movements. 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.
The Zacks rating system ranges from # 1 (Strong Buy) to # 5 (Strong Sell). It has a remarkable track record of success, externally audited, with the # 1 stock having an average annual return of + 25% since 1988. The Zacks Consensus EPS is down 0.03% over the past month. The AAPL currently has a Zacks Rank # 3 (hold).
Investors should also look at the AAPL’s current estimates, including its forward P / E ratio of 25.4. This estimate represents a premium over the industry average forward P / E of 16.53.
It is also worth noting that the current PEG ratio for AAPL is 2.03. This popular metric is similar to the well-known P / E ratio, with the difference that the PEG ratio also takes into account the company’s expected earnings growth rate. Average PEG at yesterday’s close was 1.19.
Computers – The mini-computer industry is part of the computer and technology sector. The industry is currently ranked 18th on the Zacks ranking, placing it in the top 8% 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.
To follow the AAPL for upcoming trading sessions, be sure to use Zacks.com.