In the most recent trading session, Apple (AAPL) finished at $173, reflecting a change of +1.09% from the previous day. Compared to the S&P 500's 0.29% daily decline, this shift was more favorable. The tech-heavy Nasdaq index fell 0.3% and the Dow fell 0.35 percent.
In comparison to the Computer and Technology sector's 3.61% rise and the S&P 500's 4.42% gain, the stock of the company that makes iPhones, iPads, and other items has fallen 7.07 percent in the past month.
Investors are going to be quite interested in Apple's next earnings report. Analysts predict earnings per share of $1.50 for the current quarter, a decrease of 1.32% from the same period last year. Revenue for the quarter will be $90.38 billion, down 4.7% from the same period last year, according to our most current average estimate.
Earnings per share of $6.55 and sales of $385.52 billion are the projected figures for the annual period according to the Zacks Consensus Estimates. These figures represent changes of +6.85% and +0.58% from last year, respectively.
Investors should also pay attention to whether Apple analyst estimates have been revised recently. The dynamic character of near-term business developments is better illustrated by these modifications. Therefore, it is reasonable to interpret upward adjustments to estimates as an indication of confidence in the future of the company's operations.
According to our findings, there is a clear relationship between these changes in estimates and the stock prices in the near future. In order to take advantage of this, we have developed the Zacks Rank, a mathematical model that incorporates these changes in estimates and offers a practical rating system.
One is a Strong Buy and five is a Strong Sell according to the Zacks Rank methodology. It has an impressive record of accomplishment that has been audited by other parties; since 1988, the top stocks have delivered an average yearly return of 25%. The Zacks Consensus EPS estimate has not changed in the past 30 days. Apple is presently ranked #3 (Hold) by Zacks Investing Strategy.
Also, AAPL's current PEG ratio of 2.06 is something to keep in mind as an investor. Similar to the popular P/E ratio, the PEG ratio takes into account both the current and future profits growth of the company. By the end of trading yesterday, the Computer - Mini computers industry's average PEG ratio was 2.58.
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