Today's Above Avalon stories:
- AAPL 3Q16 Earnings Preview (Part 3 - iPhone)
- Swatch Issues Profit Warning
- 2Q16 Microsoft Surface Shipments
We begin today's email with the third installment of my AAPL 3Q16 earnings preview. (Part 1 - Methodology was published in Monday's daily update, and Part 2 - Services, Mac, iPad, Apple Watch was published in yesterday's update). Along with going over my iPhone sales estimate, we discuss my broader views on the iPhone business heading into next week's earnings report. The email then turns to Swatch, the largest watchmaker in the world, issuing a profit warning on weak sales. We go over why so much attention is being given to Swatch and why some of the questionable actions being taken by the company suggest intense turmoil in the Swiss watch industry. The discussion then turns to new Microsoft Surface revenue data included in Microsoft's 2Q16 earnings release yesterday. We back into Surface shipment data and then compare it to my iPad and Mac 3Q estimates.
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