The Apple Bull and Bear Case, The Roku Rocket, Thursday Q&A

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

  • The Apple Bull and Bear Case 

  • The Roku Rocket

  • Thursday Q&A

We kick off today’s email by going over Apple’s bull and bear cases. The discussion then turns to my latest thoughts on Roku. We conclude with the latest installment of Thursday Q&A. I answer the following questions from Above Avalon members:

  • Do you think the antitrust threat will cause Apple to lower its 30% / 15% (for multi-year subscriptions) App Store revenue share to something more like 10% / 5%? What would be the impact on Apple revenue?

  • Given recent progress seen with autonomous vehicles (Tesla, Uber, Waymo, etc.) and news of Apple pursuing M&A in this area, what can we assume about Apple's strategy and ability to compete in this world? How much is Apple resourced in this area?

  • You’ve previously mentioned how Apple is pursuing a different business model in transportation compared to previous new product categories. What are the implications found with Apple’s strategy and its ability to execute out of the gate?

  • What are some good historical analogs for China successfully causing permanent harm to a foreign company through state fanned boycotting of their products?

  • With Apple poaching a major Disney exec to help build ATV+, what is the likelihood of Disney CEO Bob Iger stepping down from Apple's board?

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