Apple (AAPL) closed at $ 119.99 in the last trading session, marking a -0.45% change from the previous day. This change was behind the 0.06% loss of the S&P 500 on the day. At the same time, the Dow fell 0.71% and the high-tech Nasdaq gained 0.76%.
As of today, the shares of the maker of iPhones, iPads and other products had lost 7.08% last month, lagging behind the loss of the IT and Technology sector of 6.54% and the gain of the S&P 500 of 0, 17% at the time.
AAPL will seek to show strength as it approaches its next earnings release. In this report, analysts expect AAPL to post earnings of $ 0.99 per share. This would mark a year-on-year growth of 54.69%. Meanwhile, Zacks’ consensus estimate for revenue is projecting net sales of $ 77.39 billion, an increase of 32.71% over the same period last year.
For the full year, our Zacks consensus estimates are projecting earnings of $ 4.48 per share and revenue of $ 336.56 billion, which would represent changes of + 36.59% and + 22.6%, respectively, in compared to the previous year.
It is also important to note the recent changes in analysts’ estimates for AAPL. These recent reviews tend to reflect the evolving nature of short-term business trends. With this in mind, we can consider positive revisions to estimates as a sign of optimism regarding the company’s business prospects.
The research indicates that these estimate revisions are directly correlated with the short-term stock price momentum. To benefit from this, we developed Zacks Rank, a proprietary model that takes these changes in estimates into account and provides an actionable rating system.
The Zacks rating system ranges from # 1 (strong buy) to # 5 (strong sell). It has a remarkable track record of success, with external auditing, with shares # 1 delivering an average annual return of + 25% since 1988. The EPS estimate from Consensus Zacks increased by 0.13% last month. AAPL currently has a Zacks Rank of # 2 (Buy).
In terms of valuation, AAPL is currently trading at a forward P / E ratio of 26.9. This represents a premium compared to the industry average P / E Forward of 19.15.
Meanwhile, the AAPL PEG ratio is currently 2.45. The PEG index is similar to the widely used P / E ratio, but this metric also takes into account the company’s expected profit growth rate. Computer – Minicomputer stocks are, on average, maintaining a PEG index of 1.81 based on yesterday’s closing prices.
The Computer – Minicomputer industry is part of the IT and Technology sector. This industry currently has a Zacks industry rating of 114, which places it among the top 45% of all more than 250 industries.
The Zacks Industry Rank measures the strength of our industry groups by measuring the average Zacks Rank of individual stocks within the groups. Our research shows that the top 50% of the sectors outperform the bottom half by a factor of 2 to 1.
Make sure to use Zacks. We will follow all these stock movement metrics, and more, in the next trading sessions.
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