Fitbit Earnings, Apple's Debt Bonanza, Apple Holding the Line Against Tidal

Today's Above Avalon stories: 

  • Fitbit Earnings
  • Apple's Debt Bonanza
  • Apple Holding the Line Against Tidal

We kick off today's update with a deep dive into Fitbit's 2Q16 earnings. There were a number of interesting comments and items related to the wrist wearables space and health/fitness. We also compare Apple Watch unit sales and revenue to Fitbit unit sales and revenue over the past year. The email then turns to Apple's most recent debt issuance. I share some perspective on Apple's rising debt level and how it relates to Apple's overall risk level. We conclude by circling back to the Apple/Tidal acquisition rumors from last month. Kanye West confirmed many of my initial assumptions about Tidal. We go over where I think the Apple/Tidal talks currently stand and what I suspect to be the major sticking point. 

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