Apple (AAPL) Surpasses Market Returns: Some Facts Worth Knowing

Apple (AAPL) closed at $242.70 in the latest trading session, marking a +0.2% move from the prior day. The stock's performance was ahead of the S&P 500's daily gain of 0.16%. At the same time, the Dow added 0.25%, and the tech-heavy Nasdaq lost 0.06%.The maker of iPhones, iPads and other products's stock has dropped by 1.54% in the past month, falling short of the Computer and Technology sector's loss of 0.39% and outpacing the S&P 500's loss of 2.7%.Analysts and investors alike will be keeping a close eye on the performance of Apple in its upcoming earnings disclosure. The company's upcoming EPS is projected at $2.36, signifying an 8.26% increase compared to the same quarter of the previous year. Meanwhile, our latest consensus estimate is calling for revenue of $124.1 billion, up 3.78% from the prior-year quarter.For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $7.43 per share and a revenue of $412.79 billion, representing changes of +10.07% and +5.56%, respectively, from the prior year.Investors should also take note of any recent adjustments to analyst estimates for Apple. Recent revisions tend to reflect the latest near-term business trends. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional 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. Over the past month, the Zacks Consensus EPS estimate remained stagnant. Apple presently features a Zacks Rank of #3 (Hold).In terms of valuation, Apple is presently being traded at a Forward P/E ratio of 32.67. Its industry sports an average Forward P/E of 13.55, so one might conclude that Apple is trading at a premium comparatively.Meanwhile, AAPL's PEG ratio is currently 2.38. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. The Computer - Micro Computers was holding an average PEG ratio of 1.75 at yesterday's closing price.The Computer - Micro Computers industry is part of the Computer and Technology sector. Currently, this industry holds a Zacks Industry Rank of 91, positioning it in the top 37% of all 250+ industries.The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.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