Alphabet 2Q24 Earnings
Today's Above Avalon Daily email contains the following story:
Alphabet 2Q24 Earnings
We examine Alphabet’s 2Q24 earnings release and conference call. Topics include generative AI’s impact on search, capex spending, Waymo, and YouTube growth.
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About the Apple TV+ Rumors, What’s Wrong With Apple TV+?, Apple’s Goal for Apple TV+
Today's Above Avalon Daily email contains the following story:
About the Apple TV+ Rumors
What’s Wrong With Apple TV+?
Apple’s Goal for Apple TV+
Today's update will cover the Apple TV+ rumors that have taken over social media. Did Apple cut Apple TV+ spending? Is Apple TV+ engagement not doing well? What may be going on? Let's discuss.
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Netflix 2Q24 Earnings, Netflix Growth, Wall Street Giving Netflix Green Light to Spend
Today's Above Avalon Daily email contains the following story:
Netflix 2Q24 Earnings
Netflix Growth
Wall Street Giving Netflix Green Light to Spend
There continues to be quite a bit of interest in what’s unfolding in video and music streaming. While Netflix (and Spotify) appear to be finding their strides, Apple's strategy is increasingly being drawn into question by the press and some users. There are various topics that we will discuss. For today, we will dissect Netflix's earnings.
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The CrowdStrike / Microsoft Outage Will Benefit Apple
Today's Above Avalon Daily email contains the following story:
The CrowdStrike / Microsoft Outage Will Benefit Apple
Today's update will be dedicated to discussing the CrowdStrike / Microsoft catastrophe which is still impacting the corporate world.
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Apple Looking to License Movies for Apple TV+, Warner Bros. Discovery Thinking of Splitting Itself, Skydance Merges With Paramount
Today's Above Avalon Daily email contains the following stories:
Apple Looking to License Movies for Apple TV+
Warner Bros. Discovery Thinking of Splitting Itself
Skydance Merges With Paramount
Given a busy news flow, we are going to stay in video streaming land for one more update. We begin by going over a report pegging Apple as looking to license more movies for Apple TV+. The discussion then turns to Warner Bros. Discovery, Skydance, and Paramount.
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Become an Above Avalon member and receive the following privileges and benefits:
Exclusive Analysis. Receive my daily newsletter and reports containing analysis and perspective, 100% related to Apple.
Earnings Model. Access my working Apple earnings model (an Excel file that also works in Numbers).
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Churn vs. Engagement in Paid Video Streaming, Disney Looking to Boost Streaming Engagement, Implications for Apple TV+
Today's Above Avalon Daily email contains the following stories:
Churn vs. Engagement in Paid Video Streaming
Disney Looking to Boost Streaming Engagement
Implications for Apple TV+
Today's update will take us to the paid video streaming industry. We begin with a closer look at some churn vs. engagement data for paid video streaming. The discussion then turns to Disney looking to boost engagement within its streaming properties. We conclude with a look at some implications regarding engagement and Apple TV+.
Above Avalon membership is required to read this update. Members can read the update here.
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Become an Above Avalon member and receive the following privileges and benefits:
Exclusive Analysis. Receive my daily newsletter and reports containing analysis and perspective, 100% related to Apple.
Earnings Model. Access my working Apple earnings model (an Excel file that also works in Numbers).
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Apple Pushes Apple Watch for Kids, Apple Watch SE 3 Rumors, Apple Watch New User Trends
Today's Above Avalon Daily email contains the following stories:
Apple Pushes Apple Watch for Kids
Apple Watch SE 3 Rumors
Apple Watch New User Trends
We begin by examining Apple’s new minisite: “Apple Watch For Your Kids.” The discussion then turns to Apple Watch SE 3 and its connection to Apple’s sales pitch to parents. The update concludes with a look at my Apple Watch unit sales growth figures, new user totals, and adoption figures.
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Microsoft and Apple Give Up OpenAI Observer Board Seats, AI Regulation Silliness, A Few Apple TV+ Observations
Today's Above Avalon Daily email contains the following stories:
Microsoft and Apple Give Up OpenAI Observer Board Seats
AI Regulation Silliness
A Few Apple TV+ Observations
We kick things off with my thoughts on changes to OpenAI’s non-voting observer board seats. The discussion then turns to why so much of these attempts to regulate AI come across as silly. We conclude with a few Apple TV+ observations that have been on my mind. “Dark Matter” became the latest Apple TV+ series to be placed on my watched list.
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Exclusive Analysis. Receive my daily newsletter and reports containing analysis and perspective, 100% related to Apple.
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Amazon Unveils Updated Echo Spot, Amazon’s Data Center Spending Aggressiveness, Amazon’s AI Predicament
Today's Above Avalon Daily email contains the following stories:
Amazon Unveils Updated Echo Spot
Amazon’s Data Center Spending Aggressiveness
Amazon’s AI Predicament
Today’s update will have an Amazon theme. We begin with my thoughts on Amazon bringing the Echo Spot back. The discussion then turns to Amazon’s shocking level of data center spending commitments. We conclude with Amazon finding itself in an AI predicament involving Alexa and AWS.
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Exclusive Analysis. Receive my daily newsletter and reports containing analysis and perspective, 100% related to Apple.
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Apple Given Observer Board Seat at OpenAI, A Phil Schiller Renaissance
Today's Above Avalon Daily email contains the following stories:
Apple Given Observer Board Seat at OpenAI
A Phil Schiller Renaissance
We begin with my thoughts on Apple being given an observer board seat at OpenAI. The discussion then turns to Apple’s Phil Schiller, who reportedly will fill Apple’s seat on OpenAI’s board. In some ways, this new stage for Schiller comes across as something of a renaissance.
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Wall Street Warms up to Apple, AAPL Valuation Update
Today's Above Avalon Daily email contains the following stories:
Wall Street Warms up to Apple
AAPL Valuation Update
Over at Above Avalon’s sibling site, Inside Orchard, my essay last week, "Big Tech Is Winning Over Wall Street," went over a Wall Street observation that has been on my mind for the past few weeks.
While NVIDIA was capturing many hearts and minds on Wall Street, a larger story was quietly unfolding in the background. Wall Street was turning decidedly more bullish on the broader Big Tech bucket (Microsoft, Apple, Alphabet, Amazon, Meta). The change in tone isn’t just attributable to AI either. That may come across as a shocking stance to hold - the Inside Orchard essay goes into more of my thinking.
For today, we will keep our focus specifically to how Wall Street is warming up to Apple. The discussion then turns to an examination of AAPL valuation metrics (forward P/E, EV/FCF, and free cash flow yield).
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Become an Above Avalon member and receive the following privileges and benefits:
Exclusive Analysis. Receive my daily newsletter and reports containing analysis and perspective, 100% related to Apple.
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More on Apple Device Longevity, iPhone Upgrading, Measuring Apple HW vs. Services Growth Potential
Today's Above Avalon Daily email contains the following stories:
More on Apple Device Longevity
iPhone Upgrading
Measuring Apple HW vs. Services Growth Potential
Given where we finished last week, there are a few follow-up discussions worth pursuing. We talk about how Apple devices are lasting longer. The discussion then turns to iPhone upgrading and the difference between iPhone average lifespan and upgrade cycle. We conclude with a look at where Apple’s growth potential is found (HW vs. Services).
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Choose either a monthly or annual membership. Payment is hosted by MoonClerk and secured by Stripe. Apple Pay and other mobile payment options are accepted. After signup, use this link to update your payment information and membership status at any time. Contact me with any questions.
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Member Privileges and Benefits
Become an Above Avalon member and receive the following privileges and benefits:
Exclusive Analysis. Receive my daily newsletter and reports containing analysis and perspective, 100% related to Apple.
Earnings Model. Access my working Apple earnings model (an Excel file that also works in Numbers).
Member Archive. Access all previous analysis sent to members.
Member Forums. Interact with other members in the Above Avalon team in Slack.
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Apple Talks up Device Longevity, Apple Provides New Clues for Estimating iPhone Upgrade Cycle, Google and Samsung Announce Product Events
Today's Above Avalon Daily email contains the following stories:
Apple Talks up Device Longevity
Apple Provides New Clues for Estimating iPhone Upgrade Cycle
Google and Samsung Announce Product Events
Today’s discussion will begin with a new document that Apple published regarding device longevity. This will then bring us to the iPhone upgrade cycle. We conclude with somewhat lighter fare pertaining to tech product launches. Let’s jump in.
Above Avalon membership is required to read this update. Members can read the update here.
Above Avalon Membership
Choose either a monthly or annual membership. Payment is hosted by MoonClerk and secured by Stripe. Apple Pay and other mobile payment options are accepted. After signup, use this link to update your payment information and membership status at any time. Contact me with any questions.
Contact me directly if you would like to purchase multiple subscriptions (five or more) for your team or company.
Member Privileges and Benefits
Become an Above Avalon member and receive the following privileges and benefits:
Exclusive Analysis. Receive my daily newsletter and reports containing analysis and perspective, 100% related to Apple.
Earnings Model. Access my working Apple earnings model (an Excel file that also works in Numbers).
Member Archive. Access all previous analysis sent to members.
Member Forums. Interact with other members in the Above Avalon team in Slack.
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Apple Warns of Feature Delays in EU, Apple Accused of Breaking DMA Rules
Today's Above Avalon Daily email contains the following stories:
Apple Warns of Feature Delays in EU
Apple Accused of Breaking DMA Rules
We begin with my thoughts on Apple warning of feature delays in the EU due to the Digital Markets Act (DMA). The discussion then turns to the European Commission finding Apple has broken DMA rules. We discuss a possible natural end state for the cat and mouse game.
Above Avalon membership is required to read this update. Members can read the update here.
Above Avalon Membership
Choose either a monthly or annual membership. Payment is hosted by MoonClerk and secured by Stripe. Apple Pay and other mobile payment options are accepted. After signup, use this link to update your payment information and membership status at any time. Contact me with any questions.
Contact me directly if you would like to purchase multiple subscriptions (five or more) for your team or company.
Member Privileges and Benefits
Become an Above Avalon member and receive the following privileges and benefits:
Exclusive Analysis. Receive my daily newsletter and reports containing analysis and perspective, 100% related to Apple.
Earnings Model. Access my working Apple earnings model (an Excel file that also works in Numbers).
Member Archive. Access all previous analysis sent to members.
Member Forums. Interact with other members in the Above Avalon team in Slack.
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Apple Intelligence and Meta Integration Hoopla, Revisiting Apple Intelligence Integration Monetization
Today's Above Avalon Daily email contains the following stories:
Apple Intelligence and Meta Integration Hoopla
Revisiting Apple Intelligence Integration Monetization
We begin with my thoughts on the WSJ’s and Bloomberg’s conflicting reports regarding Apple and Meta in discussions regarding AI integration. The discussion then turns to possible monetization paths for integrating third-party large language models with Apple Intelligence.
Above Avalon membership is required to read this update. Members can read the update here.
Above Avalon Membership
Choose either a monthly or annual membership. Payment is hosted by MoonClerk and secured by Stripe. Apple Pay and other mobile payment options are accepted. After signup, use this link to update your payment information and membership status at any time. Contact me with any questions.
Contact me directly if you would like to purchase multiple subscriptions (five or more) for your team or company.
Member Privileges and Benefits
Become an Above Avalon member and receive the following privileges and benefits:
Exclusive Analysis. Receive my daily newsletter and reports containing analysis and perspective, 100% related to Apple.
Earnings Model. Access my working Apple earnings model (an Excel file that also works in Numbers).
Member Archive. Access all previous analysis sent to members.
Member Forums. Interact with other members in the Above Avalon team in Slack.
Priority Email Access. Receive timely responses to all email inquiries.
Access to Add-ons. Customize a membership with the Podcast, Inside Orchard, and Financial Models add-ons.
Above Avalon Support. Play an active role in supporting Above Avalon as an independent voice and resource.