Apple (AAPL) closed at $372.69 in the latest trading session, marking a -0.31% move from the prior day. This change was narrower than the S&P 500's 1.08% loss on the day. Elsewhere, the Dow lost 1.51%, while the tech-heavy Nasdaq lost 0.86%.
Coming into today, shares of the maker of iPhones, iPads and other products had gained 12.11% in the past month. In that same time, the Computer and Technology sector gained 5.89%, while the S&P 500 lost 0.3%.
AAPL will be looking to display strength as it nears its next earnings release, which is expected to be July 30, 2020. The company is expected to report EPS of $1.96, down 10.09% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $50.98 billion, down 5.26% from the prior-year quarter.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $12.32 per share and revenue of $262.10 billion. These totals would mark changes of +3.62% and +0.74%, respectively, from last year.
Investors might also notice recent changes to analyst estimates for AAPL. These recent revisions tend to reflect the evolving nature of short-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 0.16% higher within the past month. AAPL is currently sporting a Zacks Rank of #3 (Hold).
Valuation is also important, so investors should note that AAPL has a Forward P/E ratio of 30.35 right now. This represents a premium compared to its industry's average Forward P/E of 8.32.
We can also see that AAPL currently has a PEG ratio of 2.76. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. Computer - Mini computers stocks are, on average, holding a PEG ratio of 2.76 based on yesterday's closing prices.
The Computer - Mini computers industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 94, which puts it in the top 38% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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