This week’s launch event saw Apple make its pitch to customers for the next 12 months, unveiling a slew of new features while freezing prices in most markets. These are the five big stories from the week that was.
1. The Big Apple
An iPhone that can detect a car crash? An Apple Watch that can knock you up? An SMS you can unsend? You better believe it, buster.
If you wanted those new features and a few design tweaks, the company’s launch event this week delivered.
But iPhone prices will mostly stay steady. Apple is betting that by absorbing rising costs, more customers will upgrade (and buy more services).
But it’s not done yet. There are still new iPads, Macs and possibly even VR gear to launch and send off to a ‘Genius Bar’ (gross) near you.
2. Mouse members
Every company and their subsidiary seems to be moving into subscriptions so it was only a matter of time before Disney tried its hand.
The new Disney subscription would tie together products, theme parks and streaming and in turn, discount and reward members.
It’s a leaf out of Amazon’s book that an increasing number of brands are trying, bundling their offerings up to lock in recurring revenue.
3. ASX wrap
Shares in Tyro have surged after the fintech company rejected a takeover bid worth $658 million but indicated it was open to a better one.
Shares in Woodside dragged as the big oil and gas giant went ex-dividend (investors who sold after the date still got their dividends).
Seven and Foxtel (News Corp) paid $4.5 billion for seven years of AFL broadcast rights while Bunnings (Wesfarmers) is going all in on tradies.
4. Car lot
Rivian will team up with Mercedes-Benz to build commercial electric vans, with each company to collaborate and design their own version.
Volkswagen says it will float Porsche on the public market. Valued at up to 85 billion euros, it could be the biggest European IPO since 1999.
Finally, Chinese EV-makers are under pressure after missing their delivery targets during lockdowns. XPeng is down around 13% this week.
5. Market swings (and roundabouts)
Early this week fairly strong economic data from the U.S. was negated by investors fearing more rate hikes.
Then the ASX rallied yesterday after the RBA implied hikes here wouldn’t be as hard and fast as feared.
Renewed optimism helped lift a load of lithium names higher late this week, including Pilbara Minerals, Allkem and Liontown Resources.
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