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$ATI 2Q15 Call: Flat rolled product segment sales were approx. $511.4MM, a 12% lower than the previous quarter, and over 15% lower than the second quarter of 2014. Segment operating loss was $3.4MM, or over $11MM lower than the first quarter of 2015; and also segments results were benefited from reduction in LIFO reserve of $5.1MM.
Apple ($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%."