Good morning. It is my last morning that writes you for a while, while Dan Defrancesco returns to leave on Monday! But I will always be there: after a Short stay (The lawn needs to take care), I will be back behind the scenes by showing each edition of London.
In today’s great history, we look at the key details of the report on Apple’s results – and why the company A huge flow of income from the App Store could be at risk.
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What’s on deck
Markets: A market strategist thinks that US stock markets The best moments are behind.
Technology: CEO Andy Jassy said that Amazon focuses on keeping low prices Before prices.
Business: Spotify was excellent to help users discover new music. Then he dismissed the staff.
But first, Apple crossed the spinner.
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The great story
Apple faces a major change
Sean Gallup / Getty images
A federal judge slapped Apple.
Referring to the Apple judicial case with EPIC Games, the judge said on Wednesday that Apple “had been pure and simple under oath” and that it returns the company to Criminal prosecution possible.
In 2020, Epic accused Apple of anti -competitive practices linked to the App Store and integrated payments.
The judge ruled against Epic in 2021 on almost all the counts. But Epic won a victory: Apple had to let the developers tell customers that they could leave the application and head to another website – where, theoretically, they could get more for their money if Apple did not take a reduction.
This week, the judge judged that Apple was in “voluntary violation” of this decision.
Apple said it would respect the court order – and they will call. Bi’s Peter Kafka broke down Why it could be a huge problem for Apple.
Then came the report on the results.
It was a mixed bag. Apple beat income and BPA estimates, but also said that it expects the cost of Donald Trump prices to be $ 900 million during the current quarter. Sales in China were worse than expected. The action is down 3% in trading before marketing.
The CEO Tim Cook opened the call for profits by praising a recently announced investment of $ 500 billion to stimulate American manufacturing over the next four years.
In the more immediate term, Cook said that it expects the majority of iPhones sold in the United States during the June quarter to have “India as a country of origin”. Almost all other products in the company entering the United States will come from Vietnam, he said.
Cook also talked about consumer behavior and Siri’s new features are delayed again. Bi has the six most important dishes.
3 things on the markets
Wall Street Dealmaking Basps Spencer Platt / Getty images
1. The best can be finished for American actions. Chris Wood of Jefferies says that the stock market has already culminated, partly due to President Trump’s prices damaging the American brand. Now Wood has advice for investors: Look abroad.
2. Scott Bessent calls on the Fed to reduce rates. The Secretary in the United States of the Treasury pointed out of bond yields As a reason, Jerome Powell and the Fed should reduce interest rates. The Trump administration claimed that rates drop, although Powell has not moved.
3. So long, the technological losses of the “Liberation Day”. Meta and Microsoft led a return to technological stock on Wednesday after the AI ​​dominated their earnings. Meta has increased its CAPEX 2025 advice, indicating that IA infrastructure growth Do not slow down.
3 things in technology
Delian Asparouhov moderated a discussion with Emil Michael, Ruth Porat and Kevin Weil at the Hill and Valley forum. Julia Hornstein / Bi
1. Within the “conclave of the Silicon Valley”. Tech Titans and Political Power Players went down to Capitol Hill for the Hush-Hush rally known as Hill and Valley Forum. Bi had a present writer; She said the forum was just showing how tight technology hold on DC is.
2. Amazon narrowly beat expectations. The actions of the electronic commerce giant fell up to 5% in the exchanges after the hours lower than expected gains For Q2. When calling the profits, CEO Andy Jassy said that Amazon was concentrated on keeping low prices as the prices take effect.
3. The new Meta AI application shows you the conversations of others. The autonomous version of the Meta AI assistant can offer funny images and answer your questions. You can also scroll through public users from other users – and it is where it becomes weird.
3 things in business
Edmon of Haro for Bi
1. why the musical discovery of Spotify fell downhill. Personalized reading lists like Discover Weekly and Radar outing used new music directly to your ears. After the company has reoriented its priorities – and licensed certain employees – its function of musical discovery fell from the deep end.
2. McDonald’s does not like its sales. The chain said that sales of American comparable store stores fell 3.6% in the first quarter, the largest decrease since the locking of covids. Even if McDonald’s tries to attract customers with its new value menu, the CEO said customers simply do not pass as often.
3. Advertisers stick to Meta, even with changes in content moderation. The advertisers of the company are not shaken too much by lax rules and go to the community notes. A former advertising agency manager explained why he thinks Meta’s advertising affairs are still booming.
In other news
What’s going on today
- The Bureau of Labor Statistics rejects the monthly employment report.
- The American judge holds an audience to decide on appeals after having ruled that Google has an illegal monopoly in online advertisements.
- Revenues from the Exxonmobil, Chevron, Shell and Wendy report.
Today’s initiate team: Dan Defrancesco, editor -in -chief and anchor, in New York (on parental leave). Hallam Bullock, editor -in -chief, in London. Grace Lett, publisher, in Chicago. Amanda Yen, assistant editor, in New York. Lisa Ryan, editor -in -chief, in New York. Lina Batarags, head of the office, in Singapore. Ella Hopkins, assistant editor, in London. Elizabeth Casolo, stock market, in Chicago.
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