Gene MunsterCan Tesla Service Keep Up with Deliveries?From 2017 to 2020, Tesla’s global fleet of vehicles has grown by 390%, from 280k vehicles to about 1.4m. Over the same period, the company’s stock of Service Centers has grown about 90%. This mismatch has at times led to…4-Minute Read Tesla
Gene MunsterApple as a Service Part 4: New Product CategoriesOptionality around new product and service categories is the 4th and final pillar to our Apple as a Service thesis. We expect a stable iPhone business (part 1), a growing Services segment (part 2), and capital returns (part 3) to…7-Minute Read Apple, Autonomous Vehicles , Retail
Gene Munster, Will ThompsonApple’s Message: Think ‘Apple as a Service’Apple reported its results for the Sept. 2018 quarter essentially in line with expectations and gave guidance for Dec. quarter revenue 2% below Street expectations. Shares were down 5% after hours but fell further to ~7% on news that the…3-Minute Read Apple
Gene Munster, Will ThompsonApple’s Latest Reinvention: Apple as a ServiceApple’s recent decision to end unit reporting is evidence of Apple’s latest reinvention — into a services business. It will take time, but this change lays the groundwork for future AAPL multiple expansion. Six months ago we introduced our view…4-Minute Read Apple
Gene MunsterApple Service Bundle Begs the Question, Is a Hardware Bundle Next?Bloomberg reported that Apple will announce three monthly service bundles that will include variations of Apple Music, Apple TV+, Apple News +, and iCloud sometime in October. Separately, the report indicated a new Apple fitness service will be revealed this…2-Minute Read Apple
Gene MunsterAutonomy & Apple as a ServiceThe New York Times reported that Apple has signed a deal with Volkswagen to manufacture electric T6 Transporter vans outfitted with Apple’s autonomous sensor suite to be used as self-driving shuttles for employees. This is significant because it plays into…3-Minute Read Apple, Artificial Intelligence , Autonomous Vehicles
Gene MunsterApple Preview: Slowly Entering New Apple as a Service ParadigmWe believe an upcoming paradigm shift in investing in Apple will move shares meaningfully higher over the next two years. Apple reports Q3 results on Tuesday, July 31st. Here’s what we expect: iPhone units of 41.6M (+3% y/y), essentially in-line with the…2-Minute Read Apple
Gene MunsterApple as a Service Part 3: Capital Return a Lever to Move Shares HigherApple’s capital return framework is the 3rd of 4 pillars to our Apple as a Service thesis. It’s understood that Apple is committed to a $100B capital return over an undefined number of years. What’s not understood is that the…4-Minute Read Apple
Gene MunsterApple as a Service Inching Shares HigherApple's investment paradigm is shifting, as evidenced by the stock’s recent, steady rise. Shares are up 13% since Apple reported earnings on July 31st (6% on the report and 7% in the 14 trading days since). — Deepwater Asset Management…2-Minute Read Apple
Gene MunsterNetflix Exits App Store, Apple as a Service Theme IntactWe believe the investing view on Apple is shifting to Apple as a Service. The news that Netflix is leaving the App Store is somewhat expected, given the company began testing alternatives to the App Store last summer. The move…4-Minute Read Apple, Netflix
