Should You Buy Apple ETFs Before Its Earnings?
Zacks Investment Research | Oct 23, 2016 11:05PM ET
The technology giant Apple (NASDAQ:AAPL) is set to release its fourth-quarter fiscal 2016 results on October 25 after the market close. Since Apple accounts for over 19% of the total market capitalization of the entire technology sector in the S&P 500 index, it is worth taking a look at the company’s fundamentals ahead of its results.
Investors’ should note that Apple has been on an uptrend since the start of the second half of the year (the fiscal fourth quarter in Apple case), locking in gains of more than 24%. The upside is expected to continue as Apple is poised to beat our earnings estimate as per the Zacks methodology given the positive earnings revision trend, which is generally a precursor to an earnings beat, and attractive fundamentals.
Inside Our Methodology
The stock saw earnings estimate revision of a penny over the past seven days for the fiscal fourth quarter. Analysts raising estimates right before earnings—with the most up-to-date information possible—is a pretty good indicator of some favorable trends for AAPL in this report (read: Will Tech ETFs Continue Their Rally in Q3 Earnings?).
In fact, Apple has a Zacks Rank #2 (Buy) and an Zacks Investment Research
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