Apple's $399 iPhone for the other 80%

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Apple's $399 iPhone for the other 80%

Posted by Goyo Large on Tuesday, October 15, 2019 Under: 848FINACE

Hey Snackers,

Fuzzbucket. Million Dollar Duck. A creepy-ish one about a high-level lawyer transformed into a sheepdog. Disney tweeted out every show and movie hitting Disney+ on November 12th and we're impressed/confused by some of the throwbacks.

Stocks dipped Monday on word Trump's mini-deal with China isn't even a sure thing. And 3rd quarter earnings season kicks off today with big banks reporting how they did the last 3 months.

Lobbied

SmileDirectClub plummets (another) 13% on California's new ortho-regulation

Everyone gets a trophy... including SmileDirectClub. The worst new stock of 2019 is now down 53% from its IPO day. SmileDirectClub embraces "telemedicine" to straighten your teeth, using clear aligners and online video chats to replace painful in-person ortho appointments. But the stroke of a governor's pen just made its life a bit harder.

AB-1519 will see you now... That's the California bill just signed into law. It adds additional regulation for SmileDirect to deal with while providing additional protection to aspiring grinners. Now the state Dental Board will oversee all things teeth-fixing — this doesn't ban SmileDirect's business, but investors are still unhappy.

Your neighborhood orthodontist: She's getting disrupted by SmileDirect's straighten-from-home biz model. She also thinks braces deserve in-person, un-rushed attention.
The dental lobbyists: They represent that community of concerned orthodontists, so they encouraged California's government to make the move.
Your canines: They're not affected. Yet. SmileDirect said it will keep operating in California, but the bill “will create unnecessary hurdles and costs."

THE TAKEAWAY

SmileDirectClub predicted this... A company's IPO filing paperwork (aka its "S-1") is released before its stock first begins trading, highlighting the business' risks and opportunities. SmileDirectClub's S-1 mentioned this exact concern: “Adverse changes in, or interpretations of, laws and regulations governing remote healthcare and the practice of dentistry."

The dental pros resisting SmileDirect are better-funded and organized than the taxis that resisted Uber...

Discount

Apple is reportedly going down-market with a $399 iPhone in Q1 2020

You overpaid for your iPhone by like $400... On the same day Apple inched past Microsoft to return to the #1 most valuable US company (iPhone 11 is apparently selling well), we get this shocker from a research analyst with a very particular set of skills:

The legendary Ming-Chi Kou studies Apple's supply chain for cluesabout the number of iPhones produced and the next model coming.
He just reported that an "iPhone SE 2" will be unveiled in Q1 2020.
The new creation boasts an iPhone 8 body with an iPhone 11 brain — for $399.

Going down-market, Apple?... This could finally compel frugal Apple buyers to upgrade. It may even convert some of the Android flock to Apple's ecosystem.

Upgrades: An estimated 200M humans stubbornly still use the iPhone 6 or 6s (can't believe that model is 5 years old).
New converts: Over 80% of the world's smartphone users and 51% in the US are on Android, Alphabet's operating system. And most Android phones are much cheaper than iPhone.

THE TAKEAWAY

Phone profits aren't the priority anymore... The last Apple budget phone was iPhone SE (great for her jeans pockets). It annoyingly stole sales from higher-end iPhone 7s, hurting Apple's profits. But now Apple just wants more Earthlings with iPhones in their hands so it can make money monthly on recurring "services." More phones = more potential iEverything customers (iCloud, Apple Music, Apple TV+, Apple News+, Arcade...).

What else we're Snackin'

Canceled: WeWork warns offices that 1,600 of its phone booths are tainted with formaldehyde
De-charged: Harley stops producing its new electric bike because of a problem with the charger
Arriving: DoorDash adds a new business — a shared kitchen for restaurants to deliver from
Capped: Lyft joins Uber to sue NYC for limiting how long their drivers can cruise around the city without passengers
50%: US tariffs on Turkish steel were just jacked up to 50% because Turkey is moving military presence into Syria (the US withdrew troops from the area last week)
Ink: Facebook's Libra Association of 21 companies signs a charter warning it may not launch the global cryptocurrency by 2020 because of intense political resistance

In : 848FINACE

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