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$AAP said its operating cash flow fell about 26.3% in 1Q16 to $75.3MM. Also, CapEx in the quarter was $89.1MM as compared to $57MM in the same quarter a year ago. As of April 23, 2016, the company operated 5,086 stores and 125 Worldpac branches and served approx. 1,300 independently owned Carquest stores.
Apple ($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%."