Happy Wednesday.

One quick follow-up to yesterday’s discussion regarding Apple’s blockbusters. The stated box office figures for “Napoleon,” “Killers of the Flower Moon,” and “Argylle” do not flow completely to Apple. Accordingly, Apple needed more than $250M ($700M+ production and marketing budget - $470M box office) in movie rentals, sales, and Apple TV+ to financially breakeven on the films. As we discussed, some of the lofty spending can be attributed to Apple wanting good looks at awards.

For today’s update, we turn to the auto space where Tim Cook had a surprise role to play in Porsche’s newest electric car unveiling.

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