Apple Results Distorting S&P 500 Earnings, Golub Says: Tom Keene
This article is for subscribers only.
Record profit from iPhone and iPad maker Apple Inc. is masking weakness at other Standard & Poor’s 500 Index companies during the fourth-quarter reporting season, according to UBS AG’s Jonathan Golub.
The degree to which S&P 500 earnings beat the average analyst estimate drops by about two-thirds when Apple is excluded, New York-based Golub in an interview today on “Bloomberg Surveillance” with Tom Keene. He is the chief U.S. market strategist at UBS.