[…] with $10.5 billion in profit, Apple earned more in the quarter than Alphabet ($4.2B), Facebook ($1.5B), and Microsoft ($3.8B) combined.
[…] If sales don’t improve with the iPhone 7, I’ll be willing to believe we’ve reached “peak iPhone.” Until then, the only problem I see is that the iPhone 6 was too successful.
Source: Daring Fireball: Apple and the Terrible, Horrible, No Good, Very Bad Drop in iPhone Sales
Source: Apple Q2 2016 results: Going down! – Six Colors
Apple ended its incredible 13-year growth streak last night. It is still an incredibly profitable company but it is no longer growing. At least for now.
I think incremental growth can still be achieved in the near future through incremental products (iPhone 7, 8… Apple Watch 2, 3… etc) but growth that really moves the needle (and the stock price) will come only after a long Christmas Eve period.
Last year, Rolex did $4.5 billion in sales. A solid year for the premium watchmaker. Of course, it was no Apple Watch. That business did roughly $6 billion in sales, if industry estimates are accurate.
Source: A Flop Unlike Any Other… — 500ish Words
So as we roll through earnings season, let’s keep this thought in mind: Stocks don’t always get it right in the short term, and if you play the short-term game, I think that you, too, might not get it right, either.
Source: FB, SBUX and DAL: Jim Cramer’s Views – Pg.5 – TheStreet
“Growth-friendly fiscal policy is needed in all countries,” it said, adding that accommodative monetary policies should continue in several advanced economies and structural reforms should be implemented with policies that support demand and help displaced workers.
Source: IMF urges more spending to boost growth | Business | The Guardian
All countries. Except Greece.
Tesla is not a disruptor, but then again, neither is Apple, the closest comp: both succeed by building a brand around being the best.
Source: It’s a Tesla – Stratechery by Ben Thompson
Priorities in a time of plenty | Asymco
Excellent analysis of Horace Dediu about Apple’s exceptionalism derived from its distinct values and priorities.