Apple's Wonderlust Event Recap

Market Overview
Read time 1.2 minutes

Year To Date Performances:

1. "Missed Apple's latest tech extravaganza? Here's what went down." Yesterday, Apple rolled out the red carpet for its "Wonderlust" event, unveiling the much-buzzed iPhone 15 series, alongside fresh-off-the-press smartwatches and AirPods. The stakes have never been higher, with the new iPhone's reception critical for the tech giant; it's responsible for half of their revenue, especially following a concerning dip in sales. While the seismic shifts of the Steve Jobs era might be in history's pages, Apple's pursuit of perfection hasn't waned. The Pro models now sport sleek titanium sides, and the Pro Max camera received a significant facelift. However, it's the transition from the Lightning port to USB-C and enhancements like a quicker processor and prolonged battery life that emphasize Apple's dedication to optimizing the user experience.

2. At the Barclays financial conference earlier this week, Jamie Dimon shared some sobering insights. Not only does Dimon anticipate a recession, but he also predicts a downturn in the office real estate domain. While recognizing the present strength of the economy, he emphasized the uncertainty of its continuance. He argued that the current buoyancy observed in housing and stock markets might not be enough to bolster consumer confidence for the long haul. He expressed concern that many are overly focused on current economic metrics, neglecting the potential implications of imminent quantitative tightening. Indicators of fragility are already cropping up, particularly in areas such as real estate and subprime auto loans.

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4. Headlines

   1. Rumours claim that Disney is positioning itself for a potential acquisition by Apple and that this is Bob Iger’s new endgame with no succession plan in place after his return to the company.

   2. Oracle shares had their worst single day since 2022 on Monday after weak forward guidance.

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