Scott

Let's move on to Apple and Amazon. So Apple...

Let's move on to Apple and Amazon. So Apple...

Ja. I think it was a Catherine Rampell or I forget who was on the pod and summarized it perfectly. Or maybe it was Kaila Scanlon who said that Apple is a mature company trading as if it's a growth company. I think that was me. That was you? What is it about you that reminds me of thoughtful women in economics? Anyways, Edwina. Edwina. The services revenue was the highlight.

Ja. I think it was a Catherine Rampell or I forget who was on the pod and summarized it perfectly. Or maybe it was Kaila Scanlon who said that Apple is a mature company trading as if it's a growth company. I think that was me. That was you? What is it about you that reminds me of thoughtful women in economics? Anyways, Edwina. Edwina. The services revenue was the highlight.

Ja. I think it was a Catherine Rampell or I forget who was on the pod and summarized it perfectly. Or maybe it was Kaila Scanlon who said that Apple is a mature company trading as if it's a growth company. I think that was me. That was you? What is it about you that reminds me of thoughtful women in economics? Anyways, Edwina. Edwina. The services revenue was the highlight.

It grew 12% to 27 billion, even though that has slowed down. It's a slow since 2023. It's still double digit growth. Wearables fell 5%, missing estimates. So that's kind of, that's not good. The other thing that kind of shows an unusual operational misstep. I was really excited about Apple intelligence. I thought that if anyone could sort of consumerize other people's massive CapEx around Apple,

It grew 12% to 27 billion, even though that has slowed down. It's a slow since 2023. It's still double digit growth. Wearables fell 5%, missing estimates. So that's kind of, that's not good. The other thing that kind of shows an unusual operational misstep. I was really excited about Apple intelligence. I thought that if anyone could sort of consumerize other people's massive CapEx around Apple,

It grew 12% to 27 billion, even though that has slowed down. It's a slow since 2023. It's still double digit growth. Wearables fell 5%, missing estimates. So that's kind of, that's not good. The other thing that kind of shows an unusual operational misstep. I was really excited about Apple intelligence. I thought that if anyone could sort of consumerize other people's massive CapEx around Apple,

I thought it was going to be Apple, that they would just organize my photos and come up with sort of very useful ways to speak to my AirPods and say, Oh, we're out, it's loud, I'm taking the volume down. They do that a little bit, but I would have thought there would be a bunch of cool things, little features that they would be able to leverage. Totally drop the pole on that, yeah.

I thought it was going to be Apple, that they would just organize my photos and come up with sort of very useful ways to speak to my AirPods and say, Oh, we're out, it's loud, I'm taking the volume down. They do that a little bit, but I would have thought there would be a bunch of cool things, little features that they would be able to leverage. Totally drop the pole on that, yeah.

I thought it was going to be Apple, that they would just organize my photos and come up with sort of very useful ways to speak to my AirPods and say, Oh, we're out, it's loud, I'm taking the volume down. They do that a little bit, but I would have thought there would be a bunch of cool things, little features that they would be able to leverage. Totally drop the pole on that, yeah.

And they've branded it brilliantly. They call it Apple Intelligence, the AI features, but they've been delayed again. And it's unusual. Apple usually kind of under-promises and over-delivers. So they don't appear to have the same depth of...

And they've branded it brilliantly. They call it Apple Intelligence, the AI features, but they've been delayed again. And it's unusual. Apple usually kind of under-promises and over-delivers. So they don't appear to have the same depth of...

And they've branded it brilliantly. They call it Apple Intelligence, the AI features, but they've been delayed again. And it's unusual. Apple usually kind of under-promises and over-delivers. So they don't appear to have the same depth of...

human capital around ai some of some of the other guys i still feel that i still own some apple i've been selling it down i think it's overvalued at a pe of uh you know it's net income growth in 2024 negative three percent versus microsoft at up 21 alphabet up 36 amazon up 95 meta up 65 and nvidia up 145 percent and yet apple trades

human capital around ai some of some of the other guys i still feel that i still own some apple i've been selling it down i think it's overvalued at a pe of uh you know it's net income growth in 2024 negative three percent versus microsoft at up 21 alphabet up 36 amazon up 95 meta up 65 and nvidia up 145 percent and yet apple trades

human capital around ai some of some of the other guys i still feel that i still own some apple i've been selling it down i think it's overvalued at a pe of uh you know it's net income growth in 2024 negative three percent versus microsoft at up 21 alphabet up 36 amazon up 95 meta up 65 and nvidia up 145 percent and yet apple trades

Das ist das gleiche PE-Multiple wie Microsoft bei 33, mehr als Amazon, das ist bei 31 und Alphabet ist bei 18. Ich meine, wenn man sich nur diese Dinge aus einem Pure-Valuation-Bottom-Up-Standpunkt anschaut, sieht es aus, als wäre Alphabet das teuerste und es sieht aus, als wäre Apple das teuerste.

Das ist das gleiche PE-Multiple wie Microsoft bei 33, mehr als Amazon, das ist bei 31 und Alphabet ist bei 18. Ich meine, wenn man sich nur diese Dinge aus einem Pure-Valuation-Bottom-Up-Standpunkt anschaut, sieht es aus, als wäre Alphabet das teuerste und es sieht aus, als wäre Apple das teuerste.

Das ist das gleiche PE-Multiple wie Microsoft bei 33, mehr als Amazon, das ist bei 31 und Alphabet ist bei 18. Ich meine, wenn man sich nur diese Dinge aus einem Pure-Valuation-Bottom-Up-Standpunkt anschaut, sieht es aus, als wäre Alphabet das teuerste und es sieht aus, als wäre Apple das teuerste.