Today's Above Avalon daily update includes the following topics:

Deep Dive into Apple Product Sales Estimates
Apple as a Toolmaker
Valuing a Toolmaker

In today’s update, we continue the discussion about my new Apple financial estimates for FY2019 and FY2020. In particular, we look at my Apple product sales estimates and how Apple is positioned financially from a product viewpoint in 2019 and 2020. Above Avalon members have access to my working Apple earnings model. The discussion then turns to the idea of Apple as a toolmaker and what it means in terms of valuing the company.

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