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Operator of specialty department stores $SSI posted lower 2Q16 earnings hurt by a challenging retail environment and continued regional pressure from depressed oil prices and the weak peso. Net income was $0.04MM, or $0.00 per diluted share vs. $1.62MM or $0.05 per diluted share in 2Q15. Net sales fell 11.2% to $338.4MM vs. $380.9MM in 2Q15.
Apple ($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%."