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$PM 1Q15 10-Q: At March 31, 2015, inventories were $7,552MM vs. $8,592MM at Dec. 31, 2014, down 12.1%. Inventory mix at March 31, 2015: Leaf tobacco was $3,098MM, other raw materials was $1,636MM, and finished product was $2,818MM; down 1.18%, 3.54%, and 25.07%, respectively, vs. Dec. 31, 2014.
Apple ($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%."