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$ORLY 2Q15 Q&A: Gutman of Morgan Stanley asked about GM, ex LIFO of 80 BPs. Tom commented that yes, the LIFO headwind higher than expected drove the slightly below percentage. ORLY has been consistent in the 51.8-52.2% range quarter-after-quarter and have accomplished that, but the additional $5MM headwind over last year was more than expected.
Apple ($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%."