From Nasdaq:

The stock market closed with Apple reaching $193.89, up 1.22%, outperforming the S&P 500, while the Dow saw an upswing of 0.36% and Nasdaq appreciated by 0.32%. Shares of Apple declined 1.05% over the past month, trailing behind the tech sector. Apple will release its earnings on February 1, 2024. The company is predicted to post an EPS of $2.09 and revenue of $117.49 billion. The Zacks Consensus Estimates are projecting earnings of $6.60 per share and revenue of $393.49 billion for the full year.

The Zacks Rank system indicates that the Zacks Consensus EPS estimate for Apple has moved 0.49% higher, currently holding a Zacks Rank of #2 (Buy). Empirical research reveals that estimate changes have a direct correlation with impending stock price performance. Investors can capitalize on this by using the Zacks Rank.

Apple is currently exchanging hands at a Forward P/E ratio of 29.05, indicating a premium relative to the industry’s average Forward P/E of 20.61. AAPL’s industry had an average PEG ratio of 2.54 as of yesterday’s close, and the industry holds a Zacks Industry Rank of 16, positioning it in the top 7% of all 250+ industries.

Stay updated with all stock-shifting metrics through Zacks.com.

Want the latest recommendations from Zacks Investment Research? Download 7 Best Stocks for the Next 30 Days. Click to get this free report. Or read more reports and analysis on Zacks.com.



Read more: Apple (AAPL) Exceeds Market Returns: Some Facts to Consider