After Constellation Brands (STZ) posted third-quarter results, shares tumbled by 17.09%. The stock is now 18.3% off from the week before. Valuations are still unfavorable at 48.7 P/E. However, the forward P/E is 12.1 times.
The beverage firm reported revenue of $2.46 billion (-0.4% Y/Y) and a non-GAAP EPS of $3.25. The firm did not expect near-term consumer weakness would take longer to rebound. This delays the business rebound. Still, consumers are allocating the same budget for alcoholic beverages.
PG&E (PCG) dropped by 10.81% on Jan. 10 and is down by 14.71% in the week. Investors are fearful that the wildfires in Los Angeles will hurt the firm’s business. Additionally, PG&E filed for bankruptcy in 2019 after it faced substantial liabilities from the wildfire. PCG stock has attractive growth, profitability, and EPS upside.
Among the magnificent 7 tech firms, Apple (AAPL) stock is on sale. The stock closed at $236.85, compared to the high of $260.10. Though its P/E is 35 times (non-GAAP) and 45% above the sector median, Apple services a broad market. It has an Apple watch,
smartphone varieties, tablet, and personal computer markets. Its services include music, television, and apps. However, Apple Intelligence is not attracting customers to upgrade to the newest iPhone.
Let Apple’s AI disappointment lower AAPL stock. When the P/E falls below 30 times, consider a position in the firm.
