Apple (AAPL) Stock Falls Amid Market Uptick: What Investors Need to Know

Apple (AAPL) closed the most recent trading day at $243.36, moving -0.2% from the previous trading session. The stock trailed the S&P 500, which registered a daily gain of 1.26%. Meanwhile, the Dow gained 0.8%, and the Nasdaq, a tech-heavy index, added 1.77%.Shares of the maker of iPhones, iPads and other products have appreciated by 0.33% over the course of the past month, underperforming the Computer and Technology sector's gain of 0.84% and outperforming the S&P 500's loss of 2.82%.The investment community will be closely monitoring the performance of Apple in its forthcoming earnings report. The company's upcoming EPS is projected at $2.36, signifying an 8.26% increase compared to the same quarter of the previous year. Alongside, our most recent consensus estimate is anticipating revenue of $124.1 billion, indicating a 3.78% upward movement from the same quarter last year.For the full year, the Zacks Consensus Estimates project earnings of $7.43 per share and a revenue of $412.79 billion, demonstrating changes of +10.07% and +5.56%, respectively, from the preceding year.Any recent changes to analyst estimates for Apple should also be noted by investors. These revisions help to show the ever-changing nature of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical rating system.Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. The Zacks Consensus EPS estimate remained stagnant within the past month. Right now, Apple possesses a Zacks Rank of #3 (Hold).Digging into valuation, Apple currently has a Forward P/E ratio of 32.82. This signifies a premium in comparison to the average Forward P/E of 13.54 for its industry.Investors should also note that AAPL has a PEG ratio of 2.39 right now. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. The Computer - Micro Computers was holding an average PEG ratio of 1.74 at yesterday's closing price.The Computer - Micro Computers industry is part of the Computer and Technology sector. With its current Zacks Industry Rank of 87, this industry ranks in the top 35% of all industries, numbering over 250.The Zacks Industry Rank gauges the strength of our 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.To follow AAPL in the coming trading sessions, be sure to utilize Zacks.com.Research Chief Names "Single Best Pick to Double"From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.This company targets millennial and Gen Z audiences, generating nearly $1 billion in revenue last quarter alone. A recent pullback makes now an ideal time to jump aboard. 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