In the latest trading session, Apple (AAPL) closed at $267.26, marking a -1.38% move from the previous day. This change lagged the S&P 500’s daily gain of 0.64%. Meanwhile, the Dow gained 1.23%, and the Nasdaq, a tech-heavy index, added 0.69%.

Shares of the maker of iPhones, iPads and other products have depreciated by 2.79% over the course of the past month, underperforming the Computer and Technology sector’s loss of 0.21%, and the S&P 500’s gain of 0.55%.

Analysts and investors alike will be keeping a close eye on the performance of Apple in its upcoming earnings disclosure. It is anticipated that the company will report an EPS of $2.65, marking a 10.42% rise compared to the same quarter of the previous year. In the meantime, our current consensus estimate forecasts the revenue to be $137.4 billion, indicating a 10.54% growth compared to the corresponding quarter of the prior year.

For the full year, the Zacks Consensus Estimates project earnings of $8.11 per share and a revenue of $451.74 billion, demonstrating changes of +8.71% and +8.55%, respectively, from the preceding year.

Investors should also note any recent changes to analyst estimates for Apple. These latest adjustments often mirror the shifting dynamics of short-term business patterns. With this in mind, we can consider positive estimate revisions a sign of optimism about the business outlook.

Based on our research, we believe these estimate revisions are directly related to near-term stock moves. To take advantage of this, we’ve established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational rating system.

The Zacks Rank system, which varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. Over the past month, there’s been a 0.1% fall in the Zacks Consensus EPS estimate. Apple is currently sporting a Zacks Rank of #3 (Hold).

From a valuation perspective, Apple is currently exchanging hands at a Forward P/E ratio of 33.4. For comparison, its industry has an average Forward P/E of 12.72, which means Apple is trading at a premium to the group.

One should further note that AAPL currently holds a PEG ratio of 2.54. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company’s anticipated earnings growth rate. By the end of yesterday’s trading, the Computer – Micro Computers industry had an average PEG ratio of 1.66.

The Computer – Micro Computers industry is part of the Computer and Technology sector. This industry, currently bearing a Zacks Industry Rank of 210, finds itself in the bottom 15% echelons of all 250+ industries.

The Zacks Industry Rank is ordered 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.

Our experts have revealed their Top 5 recommendations with money-doubling potential – and Director of Research Sheraz Mian believes one is superior to the others. Of course, all our picks aren’t winners but this one could far surpass earlier recommendations like Hims & Hers Health, which shot up +209%.

See Our Top Stock to Double (Plus 4 Runners Up) >>

Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report

Apple Inc. (AAPL) : Free Stock Analysis Report

This article originally published on Zacks Investment Research (zacks.com).

Zacks Investment Research

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.