Airpods; Apple's latest mega-success

Market Overview
Read time 1.2 minutes

Year To Date Performances:

1. Apple continues to have single-product hits. Data released in Apple’s financial reports show that the revenue generated solely from the sale of Airpods is now greater than the revenue from Intuit, Spotify, eBay, Airbnb, Doordash, Shopify and Twitter! While the company has been trying to move towards more recurring revenues from its subscription services, the popularity of its hardware is key to its success. The iPhone alone accounts for 50% of Apple’s revenues.

2. August's U.S. Consumer Price Index (CPI) hit an unexpected 3.7%, surpassing both the 3.6% prediction and the previous month's 3.2%. Price upticks were noted in rent, motor-vehicle insurance, air travel, new cars, energy (especially gasoline, which surged over 10%), utilities, and groceries (though at a milder pace than before). On the flip side, the prices for used cars and entertainment tickets slumped. A bright spot in the data showed shelter costs, constituting roughly 30% of the CPI, rose only by 0.3% - the least since the previous year. This might hint at a potential easing in inflation. As inflation edges up, anticipations mount for the Federal Reserve's decision next Wednesday.

3. Download the checklist: How to build trust and unlock growth. Trust is a critical part of any deal. Customers need to know how you’ll protect their data before they can do business with you. If you’re not prepared, this can lead to lengthy questionnaires, long security reviews, and awkward sales conversations. This 5-step checklist from Vanta helps you establish a security program that unlocks deals by building trust. Download the free checklist here.*

4. Headlines

   1. Mitt Romney has announced that he will not be running for re-election.

   2. Howard Schultz has resigned from the Starbucks board of directors. Shultz has a history of leaving and returning to the company, having served three separate stints as CEO.

   _{* This is sponsored content.}