Apple (AAPL) ended the recent trading session at $259.02, demonstrating a +0.32% swing from the preceding day's closing price. This move outpaced the S&P 500's daily loss of 0.04%. At the same time, the Dow added 0.07%, and the tech-heavy Nasdaq lost 0.05%.
Shares of the maker of iPhones, iPads and other products have appreciated by 9.91% over the course of the past month, outperforming the Computer and Technology sector's gain of 5.93% and the S&P 500's gain of 1.05%.
Investors will be eagerly watching for the performance of Apple in its upcoming earnings disclosure. The company's upcoming EPS is projected at $2.36, signifying an 8.26% increase compared to the same quarter of the previous year. Simultaneously, our latest consensus estimate expects the revenue to be $124.1 billion, showing a 3.78% escalation compared to the year-ago quarter.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of $7.43 per share and revenue of $412.79 billion, indicating changes of +10.07% and +5.56%, respectively, compared to the previous year.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Apple. These revisions help to show the ever-changing nature of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational rating system.
The Zacks Rank system, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has remained unchanged. Apple is currently sporting a Zacks Rank of #3 (Hold).
Looking at its valuation, Apple is holding a Forward P/E ratio of 34.76. This expresses a premium compared to the average Forward P/E of 13.69 of its industry.
We can also see that AAPL currently has a PEG ratio of 2.53. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. The Computer - Micro Computers was holding an average PEG ratio of 1.82 at yesterday's closing price.
The Computer - Micro Computers industry is part of the Computer and Technology sector. This industry, currently bearing a Zacks Industry Rank of 78, finds itself in the top 32% echelons of all 250+ industries.