Apple (AAPL) Stock Moves -0.99%: What You Should Know

In the latest trading session, Apple (AAPL) closed at $221.53, marking a -0.99% move from the previous day. The stock's performance was ahead of the S&P 500's daily loss of 1.12%. At the same time, the Dow lost 0.31%, and the tech-heavy Nasdaq lost 2.04%.The maker of iPhones, iPads and other products's stock has dropped by 9.43% in the past month, falling short of the Computer and Technology sector's loss of 4.05% and the S&P 500's loss of 2.91%.The investment community will be paying close attention to the earnings performance of Apple in its upcoming release. The company is forecasted to report an EPS of $1.61, showcasing a 5.23% upward movement from the corresponding quarter of the prior year. Our most recent consensus estimate is calling for quarterly revenue of $93.67 billion, up 3.22% from the year-ago period.AAPL's full-year Zacks Consensus Estimates are calling for earnings of $7.26 per share and revenue of $406.43 billion. These results would represent year-over-year changes of +7.56% and +3.94%, respectively.Investors should also note any recent changes to analyst estimates for Apple. These latest adjustments often mirror the shifting dynamics of short-term business patterns. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. 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. Over the past month, the Zacks Consensus EPS estimate has shifted 0.17% downward. Apple currently has a Zacks Rank of #3 (Hold).Looking at its valuation, Apple is holding a Forward P/E ratio of 30.81. This signifies a premium in comparison to the average Forward P/E of 11.48 for its industry.One should further note that AAPL currently holds a PEG ratio of 2.23. The PEG ratio bears resemblance to the frequently used P/E ratio, but this parameter also includes the company's expected earnings growth trajectory. AAPL's industry had an average PEG ratio of 1.55 as of yesterday's close.The Computer - Micro Computers industry is part of the Computer and Technology sector. At present, this industry carries a Zacks Industry Rank of 81, placing it within the top 33% of over 250 industries.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.Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.Zacks Names #1 Semiconductor StockIt's only 1/9,000th the size of NVIDIA which skyrocketed more than +800% since we recommended it. NVIDIA is still strong, but our new top chip stock has much more room to boom.With strong earnings growth and an expanding customer base, it's positioned to feed the rampant demand for Artificial Intelligence, Machine Learning, and Internet of Things. Global semiconductor manufacturing is projected to explode from $452 billion in 2021 to $803 billion by 2028.See This Stock Now for Free >>Want 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