Apple's Improving Wall Street Narrative, Tesla Passes Ford and GM on Wall Street, The iPad's Deteriorating Narrative

Today's Above Avalon email includes the following stories: 

  • Apple's Improving Wall Street Narrative
  • Tesla Passes Ford and GM on Wall Street
  • The iPad's Deteriorating Narrative

We kick off today's email with my thoughts on AAPL shares continuing to outperform the overall market. With 2Q17 earnings right around the corner, discussion around AAPL's stock price and valuation is picking up. The email then turns to news of Tesla becoming the largest automaker in the U.S. according to market cap. Tesla provides a great example of how a powerful narrative can drive stock valuation. We go over what I think is Tesla's current narrative on Wall Street and the key difference between Tesla's and Apple's narratives. The discussion concludes with a closer look at J.D. Power's tablet satisfaction study. Microsoft Surface beat iPad for the first time. We go over the study and implications for both Microsoft and Apple.  

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