Today's Above Avalon stories:

Tesla 2Q16 Earnings
2Q16 Smartphone Market Deep Dive
Thursday Q&A

We kick off today's update with a closer look at Tesla's earnings. I discuss the major takeaways from Tesla's earnings conference call, keeping Apple's Project Titan in mind. The email then turns to the latest IDC smartphone shipment data. We cover some of the major themes taking place in the smartphone market, including the increased chatter that iPhone hardware design seems to be falling behind the competition. We conclude with Thursday Q&A and the following question from an Above Avalon member:

Why do the bond markets and equity markets have completely different outlooks for Apple?

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