Apple

The Death Of Equity Research Hasn't Been Greatly Exaggerated

"I wish I could say the future looks bright for equity research, but few professionals appear to be addressing the miserable under-performance plaguing our industry and so there’s no reason to expect the drain of actively-managed assets to stop..."

JPM Slashes iPhone Sales Forecasts: Expects Only 2MM Units Sold In September Vs 9MM Previously

"In our original model we had forecast 9m units sold in September, and we now reduce that number to ~2m units. We increase our FY18 unit forecasts by about the same amount to reflect time-shifted demand.  New iPhone shipments  estimate: Our total iPhone shipments estimate for FQ4 is now 42.2m, reduced from our prior 49.5m forecast. Our FY18 iPhone shipments estimate is now 270.2m, up from our previous estimate of 262.9m."

Congress Begins To Ask If Amazon Is Getting Too Big, Antitrust Hearing Called

Is Amazon getting too big? While that question has yet to be formally asked by the US government, on Friday we got a hint that it may be next on the agenda after the top Democrat on the House Antitrust Subcommittee, David Civilline, voiced concerns about Amazon's $13.7 billion plan to buy Whole Foods Market.

Is Yellen Trying To Ride Into The Sunset?

"Yet I can’t help but wonder if Yellen simply doesn’t want to upset the apple cart towards the end of her term. She can see the finish line and I have no doubt she is hoping to make it without a financial crisis, she is simply trying to not make a mistake. So instead of reinforcing Dudley and Fischer’s message, she plays it safe...But worries about overly easy financial conditions have not suddenly disappeared..."

Frontrunning: July 13

  • Feuding U.S. Senate Republicans to get revised healthcare bill (Reuters)
  • Draghi May Address Future of ECB Stimulus at Jackson Hole (WSJ)
  • BOJ seeks to tamp down speculation on tapering (Nikkei)
  • Iran’s Stature Grows as Rivals Quarrel (WSJ)
  • China June Trade Data Buoyed by Robust Demand at Home and Abroad (BBG)