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ALL's Esurance recorded combined ratio was 106.5%, 10.1 points lower than 3Q14 given decreased investment and marketing along with 3.7 point improvement in loss ratio. 3Q15 Encompass recorded combined ratio was 101.3%, 8.4 points lower than 3Q14 benefiting from 11.1 point decline in catastrophe losses and the underlying combined ratio was 90.9%.
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%."