Netflix Adds External Subscription Button to iOS App
25 JULY 2022 - A pretty big shift has hit the App Store. We knew it was coming, but still. A piece from 9 to 5 Mac says Netflix has added an external subscription button to its app for iOS.
It’s been about three-and-a-half years since would-be subscribers could subscribe to Netflix through the company’s app. Netflix likely made that change so it wouldn’t have to cut Apple in for the 30% or 15% commission Apple charges for in-app purchases. While terms of service kept the video streamer from directing newbs to subscribe outside the application, regulatory winds prompted Apple to loosen up on that restriction.
As for the in-app option to subscribe outside the app, pains are taken to make sure users know who’s house they’re in. “When you tap the subscribe button,” according to 9 to 5 Mac, “a message says that ‘you’re about to leave the app and go to an external website.’” It goes on to point out:
Any accounts or purchases made outside of this app will be managed by the developer “Netflix.” Your App Store account, stored payment methods, and related features, such as subscription management and refund requests, will not be available. Apple is not responsible for the privacy or security of transactions made with this developer.
Hitting “Continue” takes users to the Netflix site. There they can enter their info and watch away.
iOS 15.6 Adds Toggle for US Government Test Alerts
25 JULY 2022 - If your iPhone doesn’t make enough startling, senseless, and random noise for you - good news! MacRumors says last week’s iOS 15.6 update has added a “Test Alerts” toggle. Available in Settings for phones connected to a carrier in the states, the piece says:
Turning on "Test Alerts" enables test emergency alerts to be received on both the iPhone and Apple Watch. The toggle is located in the Settings app under Notifications → Government Alerts and is turned off by default. Apple says the government is responsible for the content and the frequency of the test alerts.
It’s not so much a new feature as an improved one. MacRumors says past iterations of iOS allowed test alerts either by “installing a special profile from Apple or dialing a code in the Phone app.” Hence the “not new, but improved” thing. “The toggle simply provides users with an easier way to opt in to receive test alerts,” according to the report.
Bidding on Pre-Apple 1 Apple 1 Passes a Quarter-Million Dollars
25 JULY 2022 - That pre-Apple 1 Apple 1 computer that’s up for auction - prices are headed to the stratosphere. I told you about this one last week. It is notable for a couple of reasons - First, it doesn’t work and second - it’s the demo unit that Apple co-founder Steve Jobs used to sell The Byte Shop on the machine, launching Apple toward where it is today.
On Friday, bidding on the machine stood at just under $130,000. Three days later, it’s just above $278,000, with nearly a month to go. The auction ends on Thursday 18 August.
iPhone 12 Pro Back in Apple’s Refurbished Store
25 JULY 2022 - If you’re in the market for something used that’s less expensive and more recent than the Apple 1 before the Apple 1 (and that still works), iPhone 12 Pro is back in Apple’s refurbished store. MacRumors says the crème de la crème of smartphones (ca. 2020) is back among Apple’s like-new offerings. They appear to be going fast again, though. When MacRumors posted its piece on Friday, it said that 12 Pro models were available in storage capacities of 128GB, 256GB, and 512GB. When I checked Sunday night, 512GB was no longer an option. The other two were though, with 128GB models in Graphite or Pacific Blue going for $759. 256GB models in both of those colors plus a Gold model were available for $849.
Price wise, it’s not a bad deal, though that phone’s about to get a lot older pretty soon. While it’s one model back now, iPhone 14 is expected to hit in about two-month’s time. When it does, iPhone 12 will be two models back, not one. Just something to consider before hitting the “Buy” button.
Apple TV+ Hits San Diego Comic-Con
25 JULY 2022 - This year marked the first year at San Diego Comic-Con for Apple TV+. While the Cupertino-streamer did not make nearly as much noise as DC or Marvel, there was plenty of news for fans of the company’s offerings over the weekend.
Systems Go, Lights Green for Fourth Season of “For All Mankind”
The alt-history show “For All Mankind” has been picked up for a fourth season. Apple issued a press release Friday driving home the announcement, which was made at the show’s SDCC panel. Along with the release came a new description. According to that:
…“For All Mankind” explores what would have happened if the global space race had never ended. The series presents an aspirational world where NASA astronauts, engineers and their families find themselves in the center of extraordinary events seen through the prism of an alternate history timeline — a world in which the USSR beats the US to the moon.
Season-four production is set to begin next month. No word on a premier date.
The “Invasion” Continues
Further into the fantasy realm, a piece from Apple Insider has word on season two of “Invasion.” That’s the one that follows a global cast of characters in the wake of an alien invasion. According to the piece, “Season 2 will pick up months after the end of first season, and will explore the impact of the invasion on society and on a personal level.”
Apple Insider says “co-creator and writer Simon Kinberg equated the upcoming season as ‘Act 2 of a movie where [stuff] goes crazy…’” He didn’t say “stuff,” but you get the idea. Kinberg says the season will feature a “full-on action of the battle for Earth that [he] had always wanted for the show.” No word on when the season will premier.
Rob McElhenney and Charlotte Nicdao in “Mythic Quest” season three, premiering fall 2022 on Apple TV+.
“Mythic Quest” Gets Third Season Tease
If you’ve missed “Mythic Quest,” there was some things for you out of SDCC. They included details on the new season, comments from one of the show’s creators, and a season-three teaser. Season two ended with a couple of characters, Ian Grimm and Poppy Li, leaving the studio behind the video game “Mythic Quest” to start their own game studio. For reasons not explained in the teaser, the newly formed “GrimPop” studio is still tied in with its old coworkers. Another piece from Apple Insider explains that a bit, saying:
During San Diego Comic-Con, co-creator Megan Ganz explained that after the team split up in season 2, the third explored how the team could be brought back “in a way that seams organic.” The season also look[s] into "how difficult creative partnerships are.”
Season three of “Mythic Quest” hits Apple TV+ sometime this fall.
Last Chance to “See”
And finally today, though it is riding off into the sunset, “See” - one of the first four flagship shows for Apple TV+, got the Comic-Con treatment. A piece from Deadline says this season, the citizens of the post-apocalyptic future rediscover explosives and how to make them.
The third and final season of “See” premiers on Friday 26 August. Apple TV+ premiered a full trailer for the final season at Comic-Con. Check it out below.
Morgan Stanley’s Woodring Starts Apple Coverage with Bullish Note
22 JULY 2022 - A headline from Apple Insider: “Katy Huberty is no longer covering Apple for Morgan Stanley.” That’s apparently official this time. Toward the end of June Apple 3.0 said that “Katy Huberty has moved into a management role,” but was “still involved with Apple coverage as it [transitioned] over to Erik.” The “Erik” in question was Erik Woodring - the guy taking over Cupertino coverage. And yet, notes kept coming not from Woodring, but from Huberty.
Yeah - we’re apparently done with that. While the piece from Apple Insider had not heard anything about Huberty moving into management, it did say:
[Morgan Stanley] sent out a note to investors on Thursday penned by analyst Erik Woodring and his team. In that note, Morgan Stanley said that "[w]ith this report, Erik Woodring is assuming coverage of Apple, Inc.”
And he didst hit the ground running. Apple 3.0 ran part of Woodring’s 31-page introductory note - and boy oh boy does he sound bullish. Quoting his note:
We believe a more pronounced shift to a subscription-like model could add roughly $1 trillion to Apple's current market capitalization. As we've long argued, Apple's industry-leading retention rates and expanding ecosystem of hardware and services has already created one of the world's most valuable technology platforms that centralizes and controls everything from traditional communication to entertainment, social media engagement, photo & video development, gaming, business, payments, travel, fitness, and more.
The problem, as he sees it, “the market continues to value Apple shares more like a traditional -- albeit best-in-class -- technology hardware platform…” Not the way to do it, in Woodring’s estimation. Quoting the note again:
We believe that as Apple's installed base matures, retention rates maintain or improve from already high levels, new market opportunities emerge, and Apple proves they can drive sustained growth in spend per customer, investors will begin to gravitate towards a more lifetime value (LTV) based valuation approach.
The way he and his team see it, while most companies try to make back five-times what they spend acquiring customers, Apple makes back 16-times its acquisition costs. That’s “well ahead of other true subscription businesses like Netflix, SiriusXM, New York Times Co, and Spotify,” according to the report.
Mr. Woodring maintains Morgan Stanley’s “Overweight” rating on Apple shares. He’s also holding onto the firm’s recently lowered Apple price target of $180.
Apple Business Essentials and T-Mobile Team for Ultimate+ for iPhone
22 JULY 2022 - Apple and T-Mobile may have given each other a big boost on Thursday - sorry for throwing in a third company there. Saying “boost” felt better than “leg up,” though. Anyway - 9 to 5 Mac highlights a press release from the Uncarrier, announcing Ultimate+ for iPhone. It includes Apple Business Essentials, which - the piece reminds readers - includes “device management, 24/7 Apple support, and iCloud storage.” Quoting the press release (please pardon the PR speak):
Business Unlimited Ultimate+ for iPhone is the first and only wireless plan that makes IT easy for small businesses, pairing Apple Business Essentials with AppleCare+ for Business Essentials, along with a new iPhone 13 for new lines, 200GB of high-speed hotspot data per month, and more.
Doing a bit of compare and contrast, 9 to 5 Mac says “Apple Business Essentials is free for the first year,” with the service running “$2.99/month per device afterward.” On the other hand, “Ultimate+ for iPhone goes for $50 a month per line with six or more lines,” though it comes with all kinds of carrier stuff on top of the Business Essentials service, including the iPhone 13, the 200GB of hotspot data, unlimited talk/text/data on the phone itself in the U.S. and over 200 other countries, and unlimited in-flight wifi on select airlines.
And somebody else takes care of the set-up. Could be a big deal. Time will tell.
Apple Updates Updates: A Fix for iPad mini and More New Languages for HomePod
22 JULY 2022 - We’re learning a bit more about this week’s software updates. Earlier this week, Apple revised its current software, shipping iOS/iPadOS/tvOS/HomePod software 15.6, macOS Monterey 12.5, and watchOS 8.7. These primarily consisted of bug hunts and security fixes, though there were a couple of new features. Now, MacRumors has news of one more fix and one more feature.
On the fix side, the site says iPadOS 15.6 fixes a charging issue with iPad mini running iPadOS 15.5. Earlier this month we heard word that the 15.5 update kind of hosed charging for some sixth-generation iPad mini units. Now, Apple’s release notes say the update “Fixes an issue where iPad mini (6th generation) may not detect a charger or other USB-C accessory.”
As for the new feature - it’s not so much new as expanded. A separate piece from MacRumors says two more languages about which we hadn’t heard have added Siri support in HomePod. Mid week we heard that HomePod software 15.6 had added “Siri voice recognition support in Mandarin Chinese (China mainland, Taiwan), Cantonese (China Mainland, Hong Kong), and Japanese (Japan).” Now, the MacRumors piece says support has shown up for Norwegian and Swedish as well.
As for why Apple didn’t mention the additions, it may have to do with HomePod not being available in Norway nor Sweden. With the new languages, MacRumors figures HomePod mini should go on sale in the countries in the next few months.
Answers to Apple Arcade Questions
22 JULY 2022 - The game playing world finally has answers about the titles leaving Apple Arcade. Not which ones. We know that. Earlier this week, Apple launched a “Leaving Arcade Soon” section in its subscription game service. While it answered the question around which games were leaving (15 for now), it left open a few pretty big questions, like:
When are they leaving?
Will downloaded games still be playable?
Assuming developers make the game available outside Apple Arcade, can game progress be carried over to the same game purchased in the App Store?
iDownloadBlog brings us some answers. Going through those:
Will downloaded games still be playable?
Yes, then no. According to the piece:
Apple’s support document clarifies that customers will have up to two weeks to play a game that is no longer available on the service. After two weeks have expired, the Apple Arcade version will no longer be playable.
Could be worse.
Assuming developers make the game available outside Apple Arcade, can game progress be carried over to the same game purchased in the App Store?
Short answer: It depends. Slightly longer answer: It depends on the developer. While the piece says a player’s “saved game progress will remain stored locally on [their] device or in iCloud,” transferring that progress to the new binary would take a bit of work on the part of the developer. iDownloadBlog says “the new app would need some extra code to transfer your saved progress from the removed Apple Arcade version.”
As for the “when” they’re leaving question, the piece does not have a hard answer for that. At least users will have a couple of extra weeks to soften the blow.
Apple and Tech History: For Sale
Image via RR Auction
Woz and Jobs Autographs Go on Auction
22 JULY 2022 - More Apple history is hitting the auction block. Apple Insider has word of documents signed by the Cupertino-company’s two Steves - those would be Jobs and Wozniak. The piece says “They're being included in a new ‘Apple, Jobs, and Computer Hardware’ lot,” headed to auction, soon.
Bidding on the Jobs document starts at $1,000. Bidding on the Woz doc starts at $200. That may seem rude, but it likely has a bit to do with scarcity. Steve Jobs signatures are known to be fairly rare. Conversely, I’ve seen Wozniak sign his name, and I’ve only seen Wozniak once. Still, his signature on a business doc could be worth a quatloo or two.
Theirs are not the only signatures in the lot. The piece says:
Some of the [tech] pioneers whose signatures are represented include Bill Gates, Esther Dyson, Pixar cofounder Alvy Ray Smith, former Apple CEO John Sculley, and former Apple design team member Bill Atkinson.
Lots of other tech memorabilia as well. Run by RR Auction, bidding begins today (Friday 22 July). The auction ends on Thursday 18 August.
Pre Apple-1 Apple-1 Up for Auction
You’re not going to believe this but there is an early Apple-1 computer going on sale that I actually find interesting. Yes - I tend to make fun of such auctions when they happen. I mean, how many times a year can you say “this ultra-rare machine is going on sale” before you stop believing in their rarity?
But this one highlighted by Cult of Mac is really rare. One point of interest - it does not work. Because it was a prototype. According to RR Auction, which is running this sale as well:
The board’s present condition lends some insight into Jobs’s judgment of it: he saw the prototype not as something to be enshrined, but as something to be repurposed… Several of the ICs have been plucked from their sockets, as have the microprocessor and other components, presumably for use on early production Apple-1 Computers.
Which brings us to another interesting point: This is not an Apple-1. According to the Cult, “Text on the left side of the board reads ‘Apple Computer A’ while production model units are labeled ‘Apple Computer 1.’” The piece says this machine is the prototype Jobs demo’d for The Byte Shop. “That lead to a deal that launched Apple on its path to success.”
Bidding on the machine currently stands at just under $130,000. Expect it to climb a bit. That sale also ends on Thursday 18 August.
June Smartphone Sales Swing to Growth in China Thanks to iPhone
21 JULY 2022 - The China Academy of Information and Communications Technology (CAICT) came out with numbers for phone sales for the month of June on Wednesday, and they were decidedly good for Apple. Not good for China’s smartphones overall, but good for Apple. On the heels of the numbers, a piece from Bloomberg said:
China’s mobile phone shipments jumped 9.2% last month, led by overseas vendors such as Apple and Samsung Electronics Co. while domestic brands like Xiaomi Corp., Oppo and Vivo were down 0.5%, official data showed.
I’m not sure why Bloomberg bothered mentioning Samsung in the piece. For years, it seems, we’ve heard that when the Academy talks international smartphones, what it means is iPhones. This is a point Bloomberg concedes its very next sentence, saying:
Samsung no longer commands a significant share of the country’s smartphone market whereas Apple is the fourth-largest player, suggesting the bulk of the rebound in demand was for iPhones.
Really not sure why Samsung was mentioned.
We Thought It Would Be Big, But…
A piece from Apple 3.0 had Evercore analyst Amit Daryanani pegging Apple’s part of China’s international smartphone market at 90%. So - recapping - Chinese firms Xiaomi, OPPO, and vivo were down half a percent, yet sales of imported phones (~90% of which are iPhones) led China’s entire smartphone market to a 9.2% rise last month.
Digging deeper on the Daryanani note, the analyst says he and his:
…expected the market to begin to recover in June, but the magnitude of growth in MNC [multinational corporations, 90% Apple] shipments was surprising as June is generally not a strong month.
He wrapped his note, saying:
The major uptick in [multinational corporations] growth rate is a clear positive for Apple and positions them well to outperform current iPhone revenue expectations.
Daryanani has an “Outperform” rating on Apple shares. His price target on the shares is $180.
I’m Not Saying I’m Wrong, But I Think I Might Be
Daryanani was not the only Apple analyst dialing iPhone numbers in China. Apple Insider had a look at a note from UBS analyst David Vogt. That note has him handing iPhone an 11.4% share of China’s total smartphone market, taking share from domestic vendors. Apple’s June performance has him - not rethinking his estimates, but thinking his estimates are probably low. “Given the strength in China and our checks,” his note says:
…we believe our 42 million June quarter iPhone estimate (down 9% YoY) is likely conservative and already captures the earlier Covid disruptions suggesting upside is likely ahead of earnings next week…
UBS has a positive rating on Apple shares. The firm’s 12-month price target on the shares is $185.
The Really Good Follows the Really Bad
Also weighing in on iPhone numbers in China was JP Morgan analyst Samik Chatterjee. While he was pleased with the numbers, his excitement was tempered by #TheseTimesInWhichWeLive. Once again, Apple Insider grabs the note. Quoting part of that:
Second consecutive month of better than seasonal shipments, with positive y/y growth for the first time since December, could be an early sign of pickup in demand in China, however, as some of the demand could be due to reopening of lockdowns, it is worth monitoring y/y growth into next months to confirm on demand recovery…
Chatterjee has a positive rating on Apple shares. His price target on the shares is $200.
Listen Up!
Expect the flurry of notes to continue into next week. Apple earnings for the June-quarter - the third quarter of fiscal year 2022 - are due in one week from today. Numbers for last quarter will hit Apple’s site after the close of trading at 1:30 Pacific/4:30 Eastern on Thursday 28 July. About a half-an-hour later, Apple CEO Tim Cook, Apple CFO Luca Maestri, and various financial analysts will do the conference call thing. That goes off at 2PM/5PM. You can hear that as it happens on Apple’s Investor site. Apple will make it available as a podcast soon after. And - of course - we will recap the call here on Friday.
Morgan Stanley Stays “Overweight” on Apple, But Drops Target to $180
21 JULY 2022 - Conscious that last month - even a great month in China - does not a future make, Morgan Stanley analyst Katy Huberty has once again trimmed her 12-month price target on Apple shares. Apple 3.0 ran part of a Wednesday note from the analyst. On the upside, demand stayed strong for Apple gear through the June-quarter. Additionally, “with China on the path to reopening (good for supply and demand),” she and hers think “revenue growth will likely accelerate to mid-to-high single digits in the September quarter.”
That said, Team Huberty expects comments on next week’s earnings call to be guarded. Plus, “with high-income consumer sentiment flashing signs of caution,” and “a strong USD causing Apple to hike prices in some international markets,” she thinks the Street might be expecting too much from Apple for fiscal year 2023.
Not that she’s off it. Far from it. Quoting her note:
…Apple remains a best of breed consumer electronics company able to invest through cycles, and with 60%+ of revenue more staples-like in nature, strong brand loyalty, and continued product/services innovation, we believe it is better insulated relative to peers during a downturn…
But her previous 12-month price target of $185 apparently felt a little high. She’s kept her firm’s “Overweight” rating on Apple shares. The price target’s down five-dollars though. It sits now at $180.
Morgan Stanley Stays “Overweight” on Apple, But Drops Target to $180
Listen Up!
Expect the flurry of notes to continue into next week. Apple earnings for the June-quarter - the third quarter of fiscal year 2022 - are due in one week from today. Numbers for last quarter will hit Apple’s site after the close of trading at 1:30 Pacific/4:30 Eastern on Thursday 28 July. About a half-an-hour later, Apple CEO Tim Cook, Apple CFO Luca Maestri, and various financial analysts will do the conference call thing. That goes off at 2PM/5PM. You can hear that as it happens on Apple’s Investor site. Apple will make it available as a podcast soon after. And - of course - we will recap the call here on Friday.
Apple Updates Software for Most Apple Hardware
21 JULY 2022 - Updates for the Apple software that’s already out there on Wednesday, and like a trip to the vet, everything was getting fixed. Not a lot of hot newness, though. That’ll be saved for the “16” software, watchOS 9, and macOS Ventura - all of which are due out later this fall. Seriously very few new features this time around, though security fixes are the gifts that keep on giving. And everything Apple makes got ‘em. Let’s have a look-see.
Apple Releases iOS and iPadOS 15.6
iOS and iPadOS 15.6 bring a new feature that you’ve gotta figure is available for every new operating system except for watchOS. According to Apple’s release notes (by way of 9 to 5 Mac), the “TV app adds the option to restart a live sports game already in progress and pause, rewind, or fast-forward.” And you see why I say that’s got to be available for everything except for watchOS 8.7. That’s the only operating system Apple makes that does not have a TV app.
Otherwise it’s just a few fixes for the tablet and smartphone.
Apple Releases macOS Monterey 12.5
A piece from Apple Insider indicates that there’s even less new with macOS Monterey 12.5 than there was with the iOS and iPadOS updates, though they wrote their piece before Apple’s release notes came out. A report a few hours later from MacRumors confirmed the new controls for live sports in the TV app for Mac. Otherwise, Apple Insider was right - the update was mostly about fixing or squishing bugs.
Apple did bring security fixes for the latest version of macOS, as well as the previous two. Apple on Wednesday released macOS Big Sur 11.6.8 and Security Update 2022-005 Catalina. If your Mac lives in any of these California locales, updates await.
watchOS 8.7 Hits the Wrist
Headed now to the end of your arm, Apple’s release notes for watchOS 8.7 were sparse, saying the update “includes improvements, bug fixes, and important security updates.”
Apple issues tvOS 15.6
To the parlor, we go, where we find Apple hitting Apple TV HDs and Apple TV 4Ks with tvOS 15.6. No notes on Apple’s site and no notes when you update the device. No obvious notes, anyway. I know. I paused in the middle of writing this to update. Apple Insider says the 15.6 update “features under-the-hood bug fixes and improvements.” Nothing new for the eye to see, it seems, though you’ve gotta figure the controls for live sports were added. Unless they were already there and I just didn’t realize. Not a big sports fan, me.
HomePod Speaks New Languages with 15.6 Update
One more update to let you in on - I don’t know about you, but I can never get a handle on whether HomePod software is its own thing or an offshoot or subset of iOS. Whatever the case, what Apple calls HomePod Software 15.6 did get released on Wednesday. According to its release notes, according to 9 to 5 Mac:
…the smart speaker is adding “Siri voice recognition support in Mandarin Chinese (China mainland, Taiwan), Cantonese (China Mainland, Hong Kong), and Japanese (Japan). In addition, this update also includes performance and stability improvements.
Apple Outs 60-Page Guide on Eight-Years of Health Initiatives
21 JULY 2022 - Want to know about the contributions Apple is making to the physical health and wellbeing of its customers? Apple would be more than happy to tell you about it. iDownloadBlog says the Cupertino-company:
…has launched a comprehensive guide that covers the ways the Apple Watch, the iPhone and its software technologies are helping advance human health.
Titled “Empowering people to live a healthier day,” iDownloadBlog says the 60-page guide covers all of Apple’s health-related initiatives since 2014. That includes many features of Apple Watch, information stored and managed in the Health app, Apple’s work with the medical community, and features of Apple’s ecosystem meant to strengthen communication between users and medical professionals.
That is some - not all - of what the 60-pages have to offer. In the press release on the paper, Apple COO Jeff Williams is quoted as saying:
Our vision for the future is to continue to create science-based technology that equips people with even more information and acts as an intelligent guardian for their health, so they’re no longer passengers on their own health journey. Instead, we want people to be firmly in the driver’s seat with meaningful, actionable insights.
Beats Releasing FaZe Clan Studio Buds Exclusively Through Best Buy
Image via BestBuy
21 JULY 2022 - News of a surprising new set of Beats earbuds. MacRumors says the Apple subsidiary:
…is launching a new special-edition version of its Beats Studio Buds earphones in partnership with Twitch esports streamer and FaZe Clan co-owner Nick "NICKMERCS" Kolcheff.
I say “surprising” because I’m always surprised when anyone takes esports seriously. Then I remember, I’m old.
This not the first tie-up between FaZe Clan and the headphone maker. The piece says Beats previously partnered with the organization “on special-edition Powerbeats Pro and Studio3 Wireless.” If you’re into the new set (or know someone who would be) they go on sale tomorrow - Friday 22 July - exclusively through Best Buy. They’ll run buyers $149.99.
Apple Announces 2022 Theatrical and Streaming Release for “Causeway”
Jennifer Lawrence and Brian Tyree Henry - Images via IMDB
21 JULY 2022 - News of a big movie coming to theaters and Apple TV+. The Cupertino-streamer issued a press release Wednesday, saying that Apple Original Films had acquired the motion picture Causeway. The film will feature Brian Tyree Henry. He plays Paper Boy in the Donald Glover series “Atlanta.” He was also one of the Eternals in the MCU movie The Eternals, and he played a podcaster in 2021’s Godzilla vs. Kong. No offense to Mr. Henry, but Causeway’s big star is Academy Award winner Jennifer Lawrence, who also serves as a producer on the film.
The release says almost nothing about the plot. According to that, “Causeway is an intimate portrait of a soldier struggling to adjust to her life after returning home to New Orleans.”
A24 is the studio behind the film. While the press release gives no hard release date, Apple says the film will turn up “in theaters and on Apple TV+ later this year.”
Wedbush: iPhone Stickiness Will Power Apple Through Economic Uncertainty
20 JULY 2022 - "The stickiness of the iPhone upgrade cycle is still being underestimated by investors in our opinion.” That’s the pull-quote Apple 3.0 used covering the latest note from Wedbush analyst Daniel Ives. If it sounds familiar, it should. It’s something he’s said for a while now. And yet, he seems to think that stickiness will help power Apple through the economic storm, into which we are all apparently sailing. Quoting his note:
The stickiness of the iPhone upgrade cycle is still being underestimated by investors in our opinion as we estimate that roughly 240 million of Apple's 1 billion iPhones have not been upgraded to a new smartphone in roughly 3.5 years. This importantly speaks to the Apple growth path over the next 12 to 18 months as iPhone 14 is set to be unveiled in the September timeframe.
You know how Bernstein Research analyst Toni Sacconaghi keeps talking about how little of Apple’s revenue is recurring revenue? Ives seems to see the number of iPhones ripe for an upgrade as recurring revenue. No, it’s not annual for each iPhone. But, the way he tends to see it, somewhere between one-third and one-quarter of one-billion iPhone owners are always ready to pull the trigger on the next one. Writes Mr. Ives:
While the nervous market backdrop is creating a fearful environment for tech stocks, we believe Apple's growth story remains well intact despite the shaky macro. Apple remains our favorite tech name.
I sort of skipped past Ives’ expectations for Apple’s June-quarter earnings. That’s because Ives sort of skipped past those. He thinks Apple will hit the Street’s projections, though the $4 billion to $8 billion headwind about which Cook and crew warned on the last call will be a thing for which to watch. “That said,” the note says:
…the Street is well aware of weakness this quarter and we believe ultimately is looking past June numbers to the September and December quarters with all eyes on the iPhone 14 production/demand cycle for the Fall staying on track.
Which brings us back to where we began: the oh so sticky iPhone. Mr. Ives has an “Outperform” rating on Apple shares. His price target on the shares is $200.
Canalys: Bad News, Good News, and Interesting Lines on Smartphones
20 JULY 2022 - Bad news, good news, and some interesting lines in the smartphone space. Market tracker Canalys brings it all, starting with bad news for the smartphone market in general. It was down last quarter, in the firm’s estimation. “Worldwide smartphone shipments fell 9% year on year in Q2 2022,” according to a recent Canalys report. They say “Demand has started to wane following economic headwinds and regional uncertainty.”
Where’s the good news? It’s at the top. Both Samsung and Apple saw their global shares grow for the June-Q of 22 versus the same quarter a year earlier. First-place Samsung grew its share from 18% last year to 21% this year. Second-place Apple stayed in second, though it too saw growth - from 14% in the second-quarter of 2021 to an estimated 17% global market share last quarter. Third, fourth, and fifth place Xiaomi, OPPO and vivo all saw shares decline year-on-year, according to the firm.
As for the interesting lines - they were on one of the Canalys charts (top of the page). Year-on-year, Xiaomi, OPPO and vivo did decline. But, from the end of the March-quarter to the end of the June-quarter, OPPO stayed even while Xiaomi and vivo trended up. Maybe that was blocks clearing in the supply chain. Maybe it was an aggressive round of promotions. It seems possible, at least, that people who might have sprung for a pricier phone went lower #InThisEconomy. The report quotes one analyst indicating that that may have been a thing last-quarter and could be for quarters to come. Quoting the analyst:
Vendors were forced to review their tactics in Q2 as the outlook for the smartphone market became more cautious… Economic headwinds, sluggish demand and inventory pileup have resulted in vendors rapidly reassessing their portfolio strategies for the rest of 2022. The oversupplied mid-range is an exposed segment for vendors to focus on adjusting new launches, as budget-constrained consumers shift their device purchases toward the lower end.
Ming-Chi Kuo: Minor Component Disruptions Won’t Slow iPhone 14 Release
20 JULY 2022 - Keeping an eye on the supply chain and iPhone 14 is TF International analyst Ming-Chi Kuo. In a series of posts to Twitter, Kuo appeared to be trying to get ahead of potentially bad news. In the first of three posts, the analyst said he’d:
…learned that recently some iPhone 14 panel and memory suppliers have experienced supply issues, but it should have a limited impact on the coming mass production of the iPhone 14 because other suppliers can fill the supply gap.
The second post named names on the memory, while the third did the same on displays. Bottom line, while there may be talk of still more trouble in the supply chain, it should not affect iPhone 14 output to a significant degree.
Ming-Chi Kuo: Apple 2023 Hardware Map Unchanged Despite Economic Uncertainty
20 JULY 2022 - TF International analyst Ming-Chi Kuo was busy on Twitter Tuesday - by his standards, anyway. In addition to addressing component concerns around iPhone 14, the analyst addressed talk of slowing hiring in Cupertino. Earlier this week, Bloomberg’s Mark Gurman posted a piece saying Apple plans to slow hiring and spending for parts of its business “to cope with a potential economic downturn…” No plans for layoffs mentioned. Additionally, the company still plans to increase pay for retail and support staff. And it’s still full-steam-ahead on “an aggressive product launch schedule” for 2023.
Ming-Chi Kuo seems to have no thoughts on the hiring and spending slowdown, though he did weigh-in on the “product launch schedule. He posted on Twitter, saying:
I'm not surprised to see hiring & spending slowdown amid a recession, but my latest channel check indicates at least currently no significant changes yet to Apple's hardware development plans for 2023, and the order visibility of equipment remains unchanged (up to 18-24 months).