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In Domestic Card business, $COF expects quarterly charge-off rate to be in mid-to-high 3% range in 4Q15 and sees 2016 charge-off rate of around 4%, with quarterly seasonal variability. Loan growth coupled with rising charge-off rate expectations drove allowance build in 3Q15 and $COF sees these to drive allowance additions going forward.
Apple ($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%."