Apple (AAPL) Stock Moves -0.99%: What You Should Know

In the latest trading session, Apple (AAPL) closed at $221.53, marking a -0.99% move from the previous day. The stock’s performance was ahead of the S&P 500’s daily loss of 1.12%. At the same time, the Dow lost 0.31%, and the tech-heavy Nasdaq lost 2.04%.

The maker of iPhones, iPads and other products’s stock has dropped by 9.43% in the past month, falling short of the Computer and Technology sector’s loss of 4.05% and the S&P 500’s loss of 2.91%.

The investment community will be paying close attention to the earnings performance of Apple in its upcoming release. The company is forecasted to report an EPS of $1.61, showcasing a 5.23% upward movement from the corresponding quarter of the prior year. Our most recent consensus estimate is calling for quarterly revenue of $93.67 billion, up 3.22% from the year-ago period.

AAPL’s full-year Zacks Consensus Estimates are calling for earnings of $7.26 per share and revenue of $406.43 billion. These results would represent year-over-year changes of +7.56% and +3.94%, respectively.

Investors should also note any recent changes to analyst estimates for Apple. These latest adjustments often mirror the shifting dynamics of short-term business patterns. Consequently, upward revisions in estimates express analysts’ positivity towards the company’s business operations and its ability to generate profits.

Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. 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, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has shifted 0.17% downward. Apple currently has a Zacks Rank of #3 (Hold).

Looking at its valuation, Apple is holding a Forward P/E ratio of 30.81. This signifies a premium in comparison to the average Forward P/E of 11.48 for its industry.

One should further note that AAPL currently holds a PEG ratio of 2.23. The PEG ratio bears resemblance to the frequently used P/E ratio, but this parameter also includes the company’s expected earnings growth trajectory. AAPL’s industry had an average PEG ratio of 1.55 as of yesterday’s close.

The Computer – Micro Computers industry is part of the Computer and Technology sector. At present, this industry carries a Zacks Industry Rank of 81, placing it within the top 33% of over 250 industries.