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According to National Association of Realtors, total existing-home sales increased 4.7% to seasonally adjusted annual rate of 5.55MM in Sept. from a downwardly revised 5.3MM in Aug. Sales rebounded strongly in Sept. following Aug.'s fall and has now increased YoverY for 12 straight months, with all four major regions experienced sales gains.
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%."