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Technology company $INTC has raised its 3Q16 outlook. The company now expects 3Q16 revenue to be $15.6Bil, plus or minus $300MM versus the prior range of $14.9Bil, plus or minus $500MM. $INTC expects the midpoint of GM to be at 62%, plus or minus a couple of points. The midpoint of adjusted GM is expected to be 63% plus or minus a couple of points.
Apple ($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%."