Apple (AAPL) Rises But Trails Market: What Investors Should Know

In the latest trading session, Apple (AAPL) closed at $213.49, marking a +1.82% move from the previous day. The stock trailed the S&P 500, which registered a daily gain of 2.13%. At the same time, the Dow added 1.65%, and the tech-heavy Nasdaq gained 2.61%.Heading into today, shares of the maker of iPhones, iPads and other products had lost 13.19% over the past month, outpacing the Computer and Technology sector's loss of 13.29% and lagging the S&P 500's loss of 9.57% in that time.Investors will be eagerly watching for the performance of Apple in its upcoming earnings disclosure. The company's earnings per share (EPS) are projected to be $1.61, reflecting a 5.23% increase from the same quarter last year. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $93.67 billion, up 3.22% from the year-ago period.Regarding the entire year, the Zacks Consensus Estimates forecast earnings of $7.26 per share and revenue of $406.43 billion, indicating changes of +7.56% and +3.94%, respectively, compared to the previous year.It's also important for investors to be aware of any recent modifications to analyst estimates for Apple. These revisions help to show the ever-changing nature of near-term business trends. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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. The Zacks Consensus EPS estimate has moved 0.23% lower within the past month. Apple is holding a Zacks Rank of #3 (Hold) right now.Looking at valuation, Apple is presently trading at a Forward P/E ratio of 28.87. This valuation marks a premium compared to its industry's average Forward P/E of 11.53.We can also see that AAPL currently has a PEG ratio of 2.09. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. As the market closed yesterday, the Computer - Micro Computers industry was having an average PEG ratio of 1.45.The Computer - Micro Computers industry is part of the Computer and Technology sector. With its current Zacks Industry Rank of 36, this industry ranks in the top 15% of all industries, numbering over 250.The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next 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 ReportThis article originally published on Zacks Investment Research (zacks.com).Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks Weiter zum vollständigen Artikel bei Zacks