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$KSS said it expects CapEx of $825MM in 2016, approx. $135MM higher than 2015. About $60MM of the increase was related to a timing shift in IT, mainly due to the company's register purchase for the new point-of-sale system this year. Construction of $KSS' fifth e-commerce fulfillment center is set to begin in 2016 with a goal to open in fall 2017.
Apple ($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%."