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$LEN is on track with its FY15 delivery outlook of 24,000-24,500 homes and GM of 24%. 4Q15 backlog conversion ratio is expected between 90-95% and GM to be a touch above 3Q15 actual of 24.1%. On FY15 segment earnings outlook, Financial Services expected to be $120-125MM while Rialto expected to be $25-30MM. 4Q15 tax rate is expected at about 34%.
Apple ($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%."