Apple Inc (AAPL): Today's Featured Computer Hardware Winner

Editor's Note: Any reference to TheStreet Ratings and its underlying recommendation does not reflect the opinion of TheStreet, Inc. or any of its contributors including Jim Cramer or Stephanie Link.

Apple ( AAPL) pushed the Computer Hardware industry higher today making it today's featured computer hardware winner. The industry as a whole closed the day up 1.0%. By the end of trading, Apple rose $21.07 (3.8%) to $570.09 on heavy volume. Throughout the day, 17,694,659 shares of Apple exchanged hands as compared to its average daily volume of 11,494,600 shares. The stock ranged in a price between $562.76-$570.72 after having opened the day at $568.00 as compared to the previous trading day's close of $549.02. Other companies within the Computer Hardware industry that increased today were: Xyratex ( XRTX), up 27.3%, voxeljet ( VJET), up 10.1%, Dot Hill Systems Corporation ( HILL), up 6.9% and 3D Systems Corporation ( DDD), up 5.2%.

Apple Inc. and its wholly-owned subsidiaries design, manufacture, and market mobile communication and media devices, personal computers, and portable digital music players worldwide. Apple has a market cap of $489.9 billion and is part of the consumer goods sector. The company has a P/E ratio of 13.7, below the S&P 500 P/E ratio of 17.7. Shares are up 3.2% year to date as of the close of trading on Friday. Currently there are 31 analysts that rate Apple a buy, no analysts rate it a sell, and 5 rate it a hold.

TheStreet Ratings rates Apple as a buy. The company's strengths can be seen in multiple areas, such as its revenue growth, largely solid financial position with reasonable debt levels by most measures, good cash flow from operations, expanding profit margins and increase in stock price during the past year. We feel these strengths outweigh the fact that the company has had sub par growth in net income.

On the negative front, Crossroads Systems ( CRDS), down 9.8%, OCZ Technology Group ( OCZ), down 6.5%, Overland Storage ( OVRL), down 3.9% and Silicon Graphics International ( SGI), down 2.8% , were all laggards within the computer hardware industry with Teradata Corporation ( TDC) being today's computer hardware industry laggard.

For investors not wanting singular stock exposure, ETFs may be of interest. Investors who are bullish on the computer hardware industry could consider iShares Dow Jones US Technology ( IYW) while those bearish on the computer hardware industry could consider ProShares Ultra Short Semiconductor ( SSG).

3x UPSIDE POTENTIAL: TheStreet Quant Ratings has identified a handful of stocks that can potentially TRIPLE in the next 12-months. Learn more.

If you liked this article you might like

Apple iPhone 8 and iOS 11's Positive Reviews Bode Well for the iPhone X

What's Up With Apple?

AI Pioneer Andrew Ng: There's Room for Multiple Winners in the AI Race

How to Make Your Life Successful Just Like Billionaire Warren Buffett