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$RH, a home-furnishings company headquartered in Corte Madera, California, reported lower 2Q16 results hurt by higher interest expense and lower gross profit. $RH said net income fell 76.88% to $6.92MM or $0.17 per share from $29.94MM or $0.71 per share a year ago. Net revenue rose 7.1% to $543.38MM. Excluding items, $RH earned $0.44 per share.
Apple ($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%."