Apple (AAPL) stock drops 0.67% while market index varies slightly

From Nasdaq: 2024-04-08 17:45:19

In the most recent trading session, Apple (AAPL) closed at $168.45, a decrease of -0.67% from the previous day. Competitively, the S&P 500 fell by 0.04%, while the Dow lost 0.03% and the Nasdaq gained 0.03%.

Analysts expect Apple to report earnings of $1.50 per share, a 1.32% year-over-year decrease. Revenue estimates are at $90.38 billion, a 4.7% decline from the previous year. For the full year, earnings are projected at $6.55 per share, with estimated revenue of $385.52 billion.

Investors should keep an eye on recent analyst revisions for Apple, as they can signal changes in business outlook. Positive estimate revisions are considered optimistic signs for a company’s future performance. The Zacks Rank system, which rates Apple as a #3 (Hold), can be used by investors to capitalize on changes in estimates.

Apple currently has a Forward P/E ratio of 25.9, trading at a premium compared to the industry average. The PEG ratio, which considers earnings growth, is at 2.04. The Computer – Mini computers industry, part of the Technology sector, holds a Zacks Industry Rank of 241, placing it in the bottom 5% of all industries.



Read more at Nasdaq: Apple (AAPL) Suffers a Larger Drop Than the General Market: Key Insights