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$NTAP 1Q16 PR: Net revenues were $1,335MM compared to $1,489MM in 1Q15. GAAP net loss was $30MM compared to GAAP net income of $88MM in 1Q15. Gross profit was $816MM compared to $938MM in 1Q15. NTAP ended the 1Q16 with $5Bil in total cash, cash equivalents & investments and generated $129MM in cash from operations.
Apple ($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%."