Apple (AAPL) closed at $170.03, falling 0.85% compared to S&P 500, upcoming earnings report.

From Nasdaq: 2024-04-01 17:45:18

The latest trading session saw Apple (AAPL) closing at $170.03 with a -0.85% change. The stock trailed S&P 500’s 0.2% loss. In the past month, AAPL dropped by 4.55%, while the Computer and Technology sector gained 2.99%. Apple’s upcoming earnings report projects an EPS of $1.50 and revenue of $90.38 billion. Currently ranked at #3 (Hold) by Zacks.

Looking at valuation, Apple is trading at a Forward P/E ratio of 26.19, a premium to the industry average of 14.06. With a PEG ratio of 2.07, AAPL seems slightly undervalued compared to the industry’s average of 2.53. The Computer – Mini computers industry has a Zacks Industry Rank of 237, in the bottom 6%. Top 50% industries outperform the bottom half by 2 to 1.

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Read more at Nasdaq: Apple (AAPL) Falls More Steeply Than Broader Market: What Investors Need to Know