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$AMG 2Q15 PR: Affiliated Managers Group reported revenues of $646.60MM compared with $636.3MM in 2Q14. Net income was $ 128.7MM vs. $99.1MM in 2Q14 and EBITDA was $239.20MM compared with $211.9MM in 2Q14. Economic net income was $171.4MM vs. $149.8MM in 2Q14. Net client cash flows for the quarter were $4.1Bil.
Apple ($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%."