Apple (AAPL) closed the last trading day at $ 120.59, moving + 0.42% from the previous trading day. This change was behind the 0.52% gain from the S&P 500 on the day. Elsewhere, the Dow gained 0.62%, while the high-tech Nasdaq added 0.12%.
Today, the shares of the manufacturer of iPhones, iPads and other products lost 4.2% last month, exceeding the loss of the IT and Technology sector by 5.18% and lagging behind the loss of the S&P 500 of 0.76% in the era.
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, our most recent consensus estimate indicates revenue of $ 77.39 billion, an increase of 32.71% over the previous year’s quarter.
ZACK’s consensus estimates for AAPL’s full year point to earnings of $ 4.48 per share and revenue of $ 336.56 billion. These results would represent year-over-year changes of + 36.59% and + 22.6%, respectively.
Any recent changes in analysts’ estimates for AAPL should also be noted by investors. Recent reviews tend to reflect the most recent short-term business trends. With this in mind, we can consider the positive revisions of the estimates as a sign of optimism regarding the company’s business prospects.
Based on our research, we believe that these revisions of estimates are directly related to inventory movements close to the team. 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, which ranges from # 1 (strong buy) to # 5 (strong sell), has an impressive track record of externally audited superior performance, with # 1 shares generating an average annual return of + 25% since 1988. More last month, the Zacks Consensus EPS estimate rose 0.13%. AAPL currently has a Zacks Rank of # 2 (Buy).
Investors should also note AAPL’s current valuation metrics, including its future P / E ratio of 26.81. Your industry has an average Forward P / E of 19.37, so we can conclude that AAPL is being traded at a comparatively premium.
In addition, we should mention that AAPL has a PEG ratio of 2.44. This popular metric is similar to the widely known P / E ratio, with the difference that the PEG index also takes into account the company’s expected profit growth rate. The Computer – Minicomputers was maintaining an average PEG ratio of 1.78 in yesterday’s closing price.
The Computer – Minicomputer industry is part of the IT and Technology sector. This group has a Zacks Industry Rank of 111, placing it among the top 44% of all 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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Apple Inc. (AAPL): Free inventory analysis report
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