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For 1Q16, $HD's GM was 34.2%, down 13 BP from 1Q15. The change is largely due to the 25 BP of GM contraction as a result of the Interline impact and 12 BP GM expansion in the supply chain driven by lower fuel costs and increased productivity. 1Q16 OpEx as a percent of sales fell by 122 BP to 20.7%. 2016 expense is expected to grow at approx. 35%.
Apple ($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%."