Apple (AAPL) closed at $168.45, down 0.67% from the previous day. Lagged the S&P 500's 0.04% daily loss. The Dow fell 0.03% and the tech-heavy Nasdaq rose 0.03%.
Over the past month, Apple shares have fallen 0.67%, underperforming the Computer and Technology sector's 4.26% increase and the S&P 500's 2.57% gain.
Investors will watch Apple's earnings report. According to that research, analysts predict $1.50 per share from Apple. This would be 1.32% lower year-over-year. The Zacks Consensus Estimate for revenue is $90.38 billion, down 4.7% from the year-ago period.
The Zacks Consensus Estimates predict $6.55 per share and $385.52 billion in revenue for the full year, up 6.85% and 0.58% from the previous year.
Investors should also monitor Apple analyst forecast changes. Recent changes frequently reflect short-term business practices. In light of this, positive estimate revisions indicate optimism about the company's business forecast.
Our study shows that these estimate changes directly affect stock price performance in the near future. Investors might benefit from Zacks Rank. This model considers estimate changes and provides a simple, actionable scoring system.
The Zacks Rank methodology, from #1 (Strong Buy) to #5 (Strong Sell), has outperformed, as verified by third-party audits. Since 1988, #1 stocks have returned +25% annually. The Zacks Consensus EPS forecast rose 0.01% last month. Apple's Zacks Rank is #3 (Hold). Apple has a Forward P/E of 25.9. The industry average Forward P/E is 9.24, thus Apple may be trading at a premium.
Investors might also observe AAPL's 2.04 PEG ratio. The PEG ratio is similar to the P/E ratio but includes the company's predicted profits growth. After trading yesterday, the computer-mini computer industry averaged 2.04 PEG. The Computer and Technology sector includes Mini-computers. Zacks Industry Rank 241 places this industry in the bottom 5% of 250+ industries.
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