Want to join the conversation?
$APA posted a narrower loss in 2Q16, helped by lower expenses compared to 2Q15. Net loss attributable to common stock was $244MM or $0.65 per diluted common share compared to $860MM or $2.28 per diluted common share last year. Revenue declined about 38.5% from last year to $1.38Bil. Adjusted loss totaled $99MM or $0.26 per share in 2Q16.
Apple ($AAPL) reported decline in sales and profits from comparable quarter last year, attributing the decline to announcement of iPhone 7/7s. Sales and profit are being guided higher for next quarter. Apple is a solid company and will continue to dominate tech and consumer electronics segment for a while. Personally, looks like there is little downside in this investment.
Waiting with fingers crossed for $AAPL’s fourth quarter earnings.
Looking ahead to $AAPL earnings release later in the afternoon today? Gene Munster, analyst from Piper Jaffrey and the most respected authority for Apple, had this to say - "The second and slightly larger group of investors believe the tail of the iPhone 7 is irrelevant, and is betting that the iPhone 10th Anniversary will yield a jump in growth from flat to up ~15%."