Apple (AAPL) shares closed at $185.01 in the last trading session, up +0.05% from the previous day. This change outpaced the S&P 500’s loss of 0.47% for the day. At the same time, the Dow lost 0.72% and the technology-heavy Nasdaq lost 5.08%.

By today, shares of the maker of iPhones, iPads and other products had gained 6.15% over the past month. The computer and technology sector is up 8.33% and the S&P 500 is up 5.36% over the same time.

Apple will look to demonstrate its strength ahead of its next earnings release. The company is expected to report earnings per share of $1.18, down 1.67% from the previous quarter. Our latest consensus forecast puts quarterly revenue at $81.17 billion, down 2.16% from a year earlier.

Zacks’ consensus forecast puts AAPL’s full-year earnings at $5.99 per share and revenue at $384.34 billion. These full-year results would change by -1.96% and -2.53%, respectively.

Investors should also pay attention to any recent changes in analyst estimates for Apple. Recent revisions tend to reflect recent near-term business trends. With that in mind, we can view positive valuation revisions as a sign of optimism about the company’s prospects.

Digging deeper into the valuation, Apple’s current projected P/E ratio is 30.86. This estimate represents a premium over the industry average Forward P/E ratio of 9.27.

We also see that AAPL’s PEG ratio is currently 2.47. This metric is used similarly to the well-known P/E ratio, but the PEG ratio also takes into account the company’s expected earnings growth rate.