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The packaging company $SEE reported 3Q15 profit of $86.6MM or $0.42 per share, up from $60.8MM or $0.28 a year ago. Adjusted EBITDA for the quarter was $300MM or 17.2% of net sales compared to $302.3MM or 15.3% of net sales in the prior year period.During 3Q15, $SEE repurchased approx. 11.3MM shares for approx. $576MM.
Apple ($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%."