Want to join the conversation?
$OI's total asbestos-related accrual is expected to be $806MM at end 1Q16 versus $522MM at end FY15. Company is amending its 2015 10-K to reflect total liability for asbestos-related costs with the 2013-2015 time period reflecting the revised methodology. This will have no impact on cash, adjusted EPS, and on company's current or future business.
Apple ($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%."