Diamonds and Dogs
Apple's earnings are ringing off the hook. Apple (AAPL) is single handedly keeping the major averages in the green following better than expected earnings. iPhone sales topped expectations, with 78.29 million units moved, up 5% from last year and a new quarterly record. iPhone revenue was up 5% to $54.38 billion. The year-over-year increase in quarterly revenue broke a string of three straight quarterly revenue declines. Services revenue increased 18% year-over-year to $7.17 billion. Total cash position is close to $250 billion or more than 98% of the market caps for the rest of the S&P 500 components Impressive.
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