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Apple (AAPL) Stock Moves -0.65%: What You Should Know

Apple (AAPL) closed the most recent trading day at $171.14, moving -0.65% from the previous trading session.

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This story originally appeared on Zacks

In the latest trading session, Apple (AAPL) closed at $171.14, marking a -0.65% move from the previous day. This move was narrower than the S&P 500's daily loss of 1.03%. At the same time, the Dow lost 1.48%, and the tech-heavy Nasdaq lost 0.05%.

- Zacks

Coming into today, shares of the maker of iPhones, iPads and other products had gained 9.12% in the past month. In that same time, the Computer and Technology sector lost 4.42%, while the S&P 500 lost 0.62%.

Investors will be hoping for strength from Apple as it approaches its next earnings release. The company is expected to report EPS of $1.89, up 12.5% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $118.36 billion, up 6.21% from the year-ago period.

Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $5.79 per share and revenue of $385.33 billion. These totals would mark changes of +3.21% and +5.33%, respectively, from last year.

Investors should also note any recent changes to analyst estimates for Apple. Recent revisions tend to reflect the latest near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.

Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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.

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. Over the past month, the Zacks Consensus EPS estimate has moved 0.4% higher. Apple is currently a Zacks Rank #3 (Hold).

In terms of valuation, Apple is currently trading at a Forward P/E ratio of 29.73. For comparison, its industry has an average Forward P/E of 19.28, which means Apple is trading at a premium to the group.

It is also worth noting that AAPL currently has a PEG ratio of 2.38. 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. AAPL's industry had an average PEG ratio of 1.98 as of yesterday's close.

The Computer - Mini computers industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 70, which puts it in the top 28% of all 250+ industries.

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.



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