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$PGR's investment portfolio produced a fully taxable equivalent (FTE) total return of 1.2% for 1Q16, up from 1.1% for 1Q15. The company's fixed-income and common stock portfolios had FTE total returns of 1.2% and 1.7%, respectively, for 1Q16, and 1.0% and 1.7%, for the same period in 2015.
Apple ($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%."