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Homebuilding company $KBH reported an increase in 2Q16 results helped by higher revenues. Net income rose 63% to $15.6MM and diluted EPS grew to $0.17 in 2Q16, with both metrics unfavorably impacted by inventory-related charges. This compares to net income of $9.57MM or $0.10 per share in 2Q15. Total revenues rose 30% to $811.1MM from last year.
Apple ($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%."