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Warren Buffett stays high on Apple despite iPhone slump

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Buffett
Warren Buffet is Apple's biggest investor.
Photo: CNBC

Apple’s big pause in iPhone sales leading up to this year’s new models isn’t worrying one of the company’s biggest investors.

Berkshire Hathaway CEO Warren Buffett says he loves what Apple is doing with its buyback program for investors and even though sales are slow, the stock is still a great buy.

Trouble in China, iPhone slump and other Apple earnings surprises

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How will investors respond to Apple's relatively flat earnings?
How will investors respond to Apple's relatively flat earnings?
Photo: Ste Smith

Apple’s Q2 earnings report for 2017 just barely beat Wall Street’s expectations when the numbers were revealed this afternoon, but there are plenty of reasons to still be optimistic about AAPL.

During the company’s call with investors today, Apple CEO Tim Cook and CFO Luca Maestri discussed some of the struggles the company experienced last quarter, from slumping iPhone sales to economic headwinds in China.

Here are the biggest takeaways:

Liveblog: Just how good (or bad) was Apple’s Q2?

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apple earnings
Apple's money-making machine is on a new level.
Photo illustration: Steve Smith/Cult of Mac

Apple is set to reveal its second quarterly earnings report of 2017 this afternoon. And according to analysts, the numbers won’t be nearly as impressive as last quarter’s record-shattering results.

Tim Cook and Apple CFO Luca Maestri will run through all the numbers with investors today at 2 p.m. Pacific. As usual, Cult of Mac will be liveblogging the action with all the analysis and snark we can muster.

Come join the fun:

What to expect from Apple’s Q2 2017 earnings report

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Earnings call
Apple made a ton of money last quarter.
Photo: Jim Merithew/Cult of Mac

Apple is set to reveal its second quarterly earnings report of 2017 next Tuesday, and based on early estimates from analysts, Tim Cook might not have much to boast about.

Wall Street has been in love with Apple stock the last few months, sending it to all-time highs since the last earnings report came out. But with the holiday shopping season over and a lack of new products to boost sales, Apple’s numbers may look a bit flat.

These are the key areas to watch for: