Today's Above Avalon stories:
- Tim Cook's Message to Customers
- Apple's Large Debt Sale
- New Spotify Subscriber Data
We kick off today's email by discussing Tim Cook's message to Apple customers regarding security. The FBI wants Apple to "build a backdoor to the iPhone." This is the start of a long discussion that will play out over months and years. It's important not to miss the obvious reasons behind Cook's message. We then shift over to Apple's $12 billion debt sale. In addition to going over the deal, we compare this raise to previous Apple debt issuances in terms of quantity and investor attractiveness. The email concludes with a look at new Spotify subscriber data and two observations from recent trends.
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