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$PCP FY15 10-K: Effective tax rate was 32.1% in both FY15 and FY14. As of March 29, 2015, there were approx. 117 lawsuits pending against PCP alleging personal injury as the result of exposure to particulates. Total capitalization at March 29, 2015 was $15,516MM, consisting of $4,587MM of total debt and $10,929MM of PCC shareholders' equity.
Apple ($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%."