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Apple is trending ahead of today's event to unveil a foldable iPhone and updated Pro Max models. The event begins at 1 p.m. ET in Cupertino.
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Apple (AAPL) closed at $332.48, up 1.81% and outperforming the S&P 500's 0.86% gain. The stock has risen 6.98% over the past month. Analysts expect upcoming earnings of $1.98 per share (7.03% YoY growth) and revenue of $112.84 billion (10.12% YoY growth). However, Apple carries a premium valuation with a Forward P/E of 36.89 versus the industry average of 20, and a PEG ratio of 2.79 compared to the industry average of 1.7. The stock holds a Zacks Rank of #3 (Hold).