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Apple AAPL Outpaces Stock Market Gains What You Should Know



In the latest trading session, Apple (AAPL) closed at $175.74, marking a +0.88% move from the previous day. This move outpaced the S&P 500's daily gain of 0.84%. Elsewhere, the Dow gained 0.96%, while the tech-heavy Nasdaq added 0.81%.

Heading into today, shares of the maker of iPhones, iPads and other products had lost 1.34% over the past month, lagging the Computer and Technology sector's gain of 2.69% and the S&P 500's gain of 0.19% in that time.

Apple will be looking to display strength as it nears its next earnings release. On that day, Apple is projected to report earnings of $1.39 per share, which would represent year-over-year growth of 7.75%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $88.87 billion, down 1.42% from the year-ago period.

AAPL's full-year Zacks Consensus Estimates are calling for earnings of $6.05 per share and revenue of $382.66 billion. These results would represent year-over-year changes of -0.98% and -2.96%, respectively.

Any recent changes to analyst estimates for Apple should also be noted by investors. These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.

Based on our research, we believe these estimate revisions are directly related to near-team stock moves. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.

The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 0.02% lower. Apple is holding a Zacks Rank of #3 (Hold) right now.

In terms of valuation, Apple is currently trading at a Forward P/E ratio of 28.82. This represents a premium compared to its industry's average Forward P/E of 11.65.

We can also see that AAPL currently has a PEG ratio of 2.54. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. The Computer - Mini computers was holding an average PEG ratio of 2.54 at yesterday's closing price.

The Computer - Mini computers industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 197, putting it in the bottom 22% of all 250+ industries.

The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. 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.

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