Jeff Auxier Comments on Philip Morris

- By Holly LaFon

Philip Morris (PM)'s reduced risk, heated tobacco product IQOS accounted for 40% of shipments to Japan in the quarter, surpassing combustible cigarettes for the first time in that market. Although it has seen impressive growth in the Japanese market, it is still waiting for FDA approval in the US. We believe it will be approved.

• Warning! GuruFocus has detected 4 Warning Signs with PM. Click here to check it out.

• PM 15-Year Financial Data

• The intrinsic value of PM

• Peter Lynch Chart of PM

From Jeff Auxier (Trades, Portfolio)'s fourth quarter 2018 shareholder letter.
This article first appeared on GuruFocus.

• Warning! GuruFocus has detected 4 Warning Signs with PM. Click here to check it out.

• PM 15-Year Financial Data

• The intrinsic value of PM

• Peter Lynch Chart of PM