Apple (AAPL) Ascends But Remains Behind Market: Some Facts to Note

The latest trading session saw Apple (AAPL) ending at $223.83, denoting a +0.53% adjustment from its last day's close. This move lagged the S&P 500's daily gain of 0.61%. Elsewhere, the Dow gained 0.3%, while the tech-heavy Nasdaq added 1.28%.Shares of the maker of iPhones, iPads and other products witnessed a loss of 13.77% over the previous month, trailing the performance of the Computer and Technology sector with its gain of 1.24% and the S&P 500's gain of 2.08%.The investment community will be closely monitoring the performance of Apple in its forthcoming earnings report. The company is scheduled to release its earnings on January 30, 2025. The company's earnings per share (EPS) are projected to be $2.36, reflecting an 8.26% increase from the same quarter last year. At the same time, our most recent consensus estimate is projecting a revenue of $124.1 billion, reflecting a 3.78% rise from the equivalent quarter last year.AAPL's full-year Zacks Consensus Estimates are calling for earnings of $7.43 per share and revenue of $412.79 billion. These results would represent year-over-year changes of +10.07% and +5.56%, respectively.Investors should also pay attention to any latest changes in analyst estimates for Apple. These recent revisions tend to reflect the evolving nature of short-term business trends. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable rating system.The Zacks Rank system, which varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection remained stagnant. Apple currently has a Zacks Rank of #3 (Hold).Investors should also note Apple's current valuation metrics, including its Forward P/E ratio of 29.97. This signifies a premium in comparison to the average Forward P/E of 12.99 for its industry.It is also worth noting that AAPL currently has a PEG ratio of 2.18. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. The average PEG ratio for the Computer - Micro Computers industry stood at 1.61 at the close of the market yesterday.The Computer - Micro Computers industry is part of the Computer and Technology sector. This industry, currently bearing a Zacks Industry Rank of 95, finds itself in the top 38% echelons of all 250+ industries.The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.Zacks' Research Chief Names "Stock Most Likely to Double"Our team of experts has just released the 5 stocks with the greatest probability of gaining +100% or more in the coming months. Of those 5, Director of Research Sheraz Mian highlights the one stock set to climb highest.This top pick is among the most innovative financial firms. With a fast-growing customer base (already 50+ million) and a diverse set of cutting edge solutions, this stock is poised for big gains. Of course, all our elite picks aren’t winners but this one could far surpass earlier Zacks’ Stocks Set to Double like Nano-X Imaging which shot up +129.6% in little more than 9 months.Free: See Our Top Stock And 4 Runners UpWant the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Apple Inc. (AAPL): Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks Weiter zum vollständigen Artikel bei Zacks