Want to join the conversation?
Energy manufacturing and logistics company $PSX reported earnings of $496MM or $0.93 per share in 2Q16, down from $1Bil or $1.84 per share reported in 2Q15, but up from $385MM or $0.72 per share in 1Q16. Adjusted earnings were $499MM, an increase of $139MM from the last quarter. Adjusted EPS was $0.94, compared to $1.83 a year ago.
Apple ($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%."