How Apple & Google Transformed into a Systemic Risk to the US Stock Market

According to Credit Suisse strategists, the “reversal of fortunes” seen by tech behemoths Apple and Google-parent Alphabet are dragging down the performance of the overall US stock market. The S&P 500 forecast has been “skewed” by companies suddenly transitioning from high growth forecasts to much more modest outlooks.

This Bad Apple Could Roil the S&P 500

An “unusually high” number of big US companies have revised previously-bullish earnings forecasts downwards. These include Alphabet and Apple, as well as Exxon Mobile, GM, Micron, Chevron, and ConocoPhillips. Oil and technology companies are also pushing US stock market growth downward.

The S&P 500, according to Refinitiv, will now only grow by 0.3% in the first quarter of 2019 compared to 23% in all four quarters of 2018. Overall S&P 500 growth for 2019 is now expected to be 4.5%.

Apple, Alphabet, and Others See a Reversal of Fortune in 2019 Impacting the US Stock Market | Source: Credit Suisse

There have only been three other times since 1990 that so many companies have seen such a reversal of growth. Per the chart above, 71 quarters have seen two or fewer top 20 growth contributors move to the worst-performing segment. Thirty-five quarters have seen less than a handful of companies reverse so rapidly, and just three have seen more than seven do so, including the first quarter of 2019.

Cited in CNBC, Patrick Palfrey, a US equities strategist at Credit Suisse, says:

“For the typical company, are they seeing a problem? The answer is not really. You can get a few bad apples distort the underlying trend.”

US Stock Market at Mercy of Mega Companies and Tax Cuts

Palfrey believes other companies on the S&P 500 are growing at between 5% and 6%, adding:

“There is this massive skew for these mega cap companies that had really great years, over the past several years and in 2019, the trends are uninspiring for them.”

Credit Suisse also points to the importance of Trump’s recent tax cuts in skewing stock market growth. The cuts added 7% to 8% to earnings growth in 2018 but are now acting as a headwind, dropping profit growth by 1%. Benefits included last year, like deductions for capital expenditures, are no longer available.

Breaking Down Growth Struggles at Apple and Google

Apple reported profit growth of over 40% in the third-quarter of 2018 and is now expected to see a 12.3% decline. Alphabet’s profits grew 23.9% in the third-quarter of 2018 but are likely to fall 21% in the first quarter of 2019.

S&P 500 (Blue) Apple (Red) Alphabet (Orange) Performance Over the Last Year Source: TradingView

The two have moved from being at the top of the S&P 500 for growth to the bottom 20%. They are joined by Exxon Mobil – dropping from 51% growth to a 14.5% decline – and Chevron, dropping from 148% growth to a 21% decline for the same period.

Apple’s ability to swing the US stock market has never been in doubt. Its shocking sales forecast revision in early January dropped its own share price 10% and sent the Dow Jones Industrial Average plummeting by a whopping 500 points. Apple and Microsoft are still battling to be America’s largest company by market value and are closely followed by Alphabet and Amazon.

These Silicon Valley giants helped propel the US stock market to record highs in 2018, but as the economy moves deeper into 2019, they may prove to be its greatest foil.

Author: Melanie Kramer
Image Credit: Featured Image from AP Photo / dapd, Martin Oeser

Apple Earnings: Profits Slip, iPhone Sales Fall Way Short of Estimates

Apple’s fiscal Q1 revenue and profits fell, marking the first time the company had to report such dismal numbers for this particular quarter in more than 10 years.

The culprits behind the declines were slowing iPhone sales and China’s economic downturn.

The tech giant’s earnings per share and revenue did beat analyst estimates. This was despite iPhone sales coming in lower than estimates.

Apple had warned investors about the expected lower sales at the beginning of January. Its stock plunged on that news.

Breaking Down Apple’s Fails And Beats

The tech giant reported earnings per share of $4.18, and revenues of $84.31 billion for the quarter that ended Dec. 29. Analysts’ estimates were $4.17, and $83.97 billion, respectively.

Its flagship iPhone saw its revenue fall 15% from the prior year. iPhones brought in $51.98 billion in sales, but analysts were looking for $52.67 billion.

Apple’s profits fell to $19.97 billion.

While iPhone sales were lower than expected, total revenue from all other products and services grew 19% to $10.9 billion. Apple had warned at the beginning of the month that emerging markets and the economic slowdown in China were presenting challenges to iPhone sales.

Mac revenues also missed estimates, but just slightly. Analysts estimated revenues from the machines would be $7.42 billion, but they were $7.416 billion instead.

Revenues from iPad sales, however, handily beat estimates. The street was looking for $5.9 billion, and Apple reported $6.729 billion.

Apple Continues To Guide Lower

Apple shares rose nearly 6% in after-market trading, though the stock sits well below its all-time high.

The street expects the number of iPhones sold over the next three months through the end of March will continue to decline at the steepest level in the company’s history.

Apple set Q2 2019 guidance lower than the street’s estimates. It set it at between $55 billion and $59 billion, while analysts were looking for $59.98 billion.

Here’s a breakdown of its guidance for its fiscal 2019 second quarter:

  • gross margin between 37 % and 38%
  • operating expenses between $8.5 billion and $8.6 billion
  • other income/(expense) of $300 million
  • tax rate of approximately 17%

About the guidance, Cook told CNBC:

“Well, we don’t attach our guidance to what the street is looking for, we attach it to what we can do. And so we think we can do $55 to $59 [billion]. Considering the currency situation, etc. it’s a strong guidance.”

He went on to say that revenue was down five percent during Q1, but only down three percent at constant currency. The effect will be more this quarter on currency than it was in the last quarter, Cook added.

“As we got into January, things have improved from where they ended in December, and that gives us some optimism. Of course that you don’t know what will continue, but I would also point out that seems to map to trade tension as well, that there is a bit more optimism in the air in January, or certainly I feel that anyways. I’m encouraged by the comments coming out of both countries.”

Optimistic In The Face Of It All

Cook said that while it was disappointing to miss its revenue guidance, he was confident about Apple’s outlook. He said the quarter’s results demonstrate that the “underlying strength of our business runs deep and wide.”

In the earnings release statement, he said:

“Our active installed base of devices reached an all-time high of 1.4 billion in the first quarter, growing in each of our geographic segments. That’s a great testament to the satisfaction and loyalty of our customers, and it’s driving our Services business to new records thanks to our large and fast-growing ecosystem.”

Despite the revenue and profit slips, Apple’s stock rose in after-market trading. At the time of writing, after the conference call, the stock was up 5.6% to $163.30.

Author: Tedra DeSue 
Image Credit: Featured Image from Drew Angerer / Getty Images / AFP

Apple is Not Learning From its Mistake: 3 iPhone Models in 2019

Apple could be en route to replicating the same mistakes it made in 2018 which ultimately led to a 10 percent stock price plunge on January 4.

According to a report released by The Wall Street Journal, Apple is planning to release three iPhone models in 2019. The problem is that many loyal customers of Apple are not compelled to upgrade to newer models because of the strong performance and specifications of previous models.

Is Apple in Trouble?

Apple has not officially disclosed its plans to release three new models in 2019. But, if it does pursue the development of new iPhone models, following a lackluster reception of the iPhone XS and XR, it may spell trouble for the already struggling $720 billion giant.

This week, Chinese retailers have started to sell the iPhone XR model with a 17.1 percent discount, slashing its price from $1,036 to $858, due to a lack of demand for newly released iPhone models.

While Tim Cook, the CEO of Apple, attributed the company’s poor performance in the fourth quarter of 2018 to the potential tension between China and the U.S., analysts have said that the trade war and the decline of the Chinese economy had minimal impact on the sales of iPhone.

Rather, local analysts have reported that the demand for cheaper alternatives such as Huawei that match the specifications of the iPhone has started to increase rapidly.

The magic of Apple in previous years was its ability to revolutionize design and technologies in mobile phones to manufacture next-generation smartphones. As the growth curve of the mobile phone sector plateaued, it has become challenging for mobile phone manufacturers to differentiate newer models from previous models and drive consumers.

As a prestigious Japanese institution Waseda University professor Atsushi Osanai said:

What we want from Apple is something that makes us emotional, even unconsciously—say, truly beautiful and sophisticated design that we can’t resist. Beefing up functional value, like expanding camera features, isn’t attractive because everyone else is doing the exact same thing.”

Immediately after the public letter of Tim Cook was released on January 2, The Verge social network columnist Casey Newton also added that as mobile phone companies reach a stalemate in technological development and the level of innovation companies can employ year after year declines, the desire for consumers to purchase new models on a yearly basis will naturally drop.

“This was the first year in five that I didn’t upgrade my iPhone. Two reasons: – iPhone X was really, really good, and battery life is still great – The 2018 models were functionally identical to the iPhone X,” Newton said.

Not Exclusive to Apple

Samsung, LG, and many major mobile phone manufacturers are struggling to deal with the same problem with Apple, and as competition in the likes of Huawei and Oppo continue to emerge by providing better value for money to consumers, key players in the mobile phone market could risk seeing a decline in dominance.

Price Charts from TradingView.

Author: P.H. Madore 
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Crypto Startup Puts Tesla, Apple, Facebook Shares On Ethereum Blockchain

According to a report from Bloomberg, DX.Exchange, an up-and-coming crypto startup headquartered in Estonia and Israel, will be putting a number of popular American equities onto a blockchain next week. As the firm’s name implies, DX.Exchange is an online trading platform that will allow investors to trade and transact shares of Apple, Facebook, Tesla, along with seven other household names listed on Nasdaq, even when markets are shuttered for the day.

If its inaugural trading sessions perform well, the startup intends to expand its crypto offerings to encompass shares listed on the New York Stock Exchange, coupled with those situated on Tokyo’s Nikkei and Hong Kong’s Hang Seng.

Each digital security token will be collateralized by one common share, and interestingly, stockholders will be purportedly be “entitled to the same cash dividends,” arguably making this offering just as good as buying stocks through TD Ameritrade, E*Trade, and the like. MPS MarketPlace Securities, a partner of DX, will be taking custody of the shares, allowing Ethereum tokens to be created that represent the securities.

But what are the benefits of the platform?

Well, as explained by Bloomberg, digital securities will allow traders to transact their holdings when markets are closed. This simple feature could catalyze the creation of secondary markets, drawing die-hard traders, even those without crypto knowledge and experience, to blockchain-based platforms, subsequently catapulting adoption.  Ethereum-based shares could also interact with other facets of the blockchain’s ecosystem.

These crypto tokens can also be divvied up, while trading fees can be minimized, lowering the bar for entry. The aforementioned factors, coupled with the fact that foreign investors will be able to gain access to U.S. shares, is undoubtedly a move towards financial inclusion — crypto’s underlying raison d’etre. 

And interestingly, this is all legal too. Speaking to the aforementioned outlet in a recent interview, DX chief Daniel Skowronski explained that his platform is licensed by the Estonian Financial Intelligence Unit, which has the backing of the European Union. So, DX has the legal capacity to make such an offering. Skowronski also expressed his excitement for his firm’s innovative platform, noting:

We saw a huge market opportunity in tokenizing existing securities… We believe that this is the beginning of the traditional market’s merge with blockchain technology. This is going to open a whole new world of trading securities old and new alike.

The Tokenization Of Everything

While DX.Exchange’s foray into blockchain-based securities is a step in the right direction and is something to be commended, the tokens aren’t fully decentralized, as there are still centralized counterparties. This lack of fully-fledged decentralization may introduce risk over time. But, a number of pundits believe that eventually, shares and other pertinent assets will become fully decentralized.

Anthony Pompliano, the founder of Morgan Creek Digital Assets and an anti-establishment figure, recently told BlockTV that he expects for all securities, whether it be stocks, bonds, real estate certificates, or otherwise, to be tokenized. The decentralist, well-known for his anti-bank, pro-Bitcoin rhetoric, claimed that this won’t be an easy task, however, quipping that this journey will take more than five years.

Jeremy Allaire, the CEO of Boston-based, Goldman-backed Circle, also echoed this sentiment in a recent CNBC interview. Speaking to the outlet, Allaire, who manages the aforementioned crypto startup, exclaimed that the “tokenization of everything” will eventually occur.

Allaire, who doesn’t seem to embody the hallmarks of a Bitcoin maximalist, noted he envisions a future filled with millions of crypto assets, whether they take the form of security, commodity, or utility tokens. In short, the long-time crypto advocate noted that he doesn’t believe cryptocurrencies are a “winner takes all” scenario, instead, he made it clear that a multitude of projects can live in relative harmony, due to this innovation’s ground-breaking potential.

Author: Nick Chong
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Bitcoin Price Rallied as Apple Flashed ‘Death Cross’

Apple Inc.’s stock flashed a bearish “death cross” for the first time in three years — suggesting that a major selloff could be around the corner. Meanwhile, the bitcoin price climbed more than 10% on December 20 ahead of a possible “Santa rally,” as Coinbase president Asiff Hirji suggested.

The comparison is apt because the cryptocurrency market and tech stocks tend to move in tandem. In fact, the recent downturn in the tech sector was partially blamed for the bitcoin bear market.

“As growth stocks, tech, and FAANG come under pressure, it’s going to hurt bitcoin,” Fundstrat co-founder Tom Lee said in November. “The downturn in FAANG is hurting those owning bitcoin.”

Today, Apple stock plunged to a 10-month low amid reports that a German court had ordered it to stop selling some of its older iPhones because they infringed a Qualcomm patent, MarketWatch reported.

Adding to Apple’s woes was a new projection by Rosenblatt Securities that Apple may slash “another 4 million iPhones” from its production plans due to slowing demand.

Bitcoin Outperformed Apple During Bear Market

Apple has now became the fifth and final FAANG stock to produce a death cross, which is a chart pattern indicating that a major selloff looms on the horizon. FAANG is an acronym for the five best-performing tech stocks in the stock market: Facebook, Apple, Amazon, Netflix and Alphabet’s Google.

The death cross — which is considered a fairly accurate predictor of bear markets — appears when a stock’s short-term moving average crosses below its long-term moving average.

By all accounts, the bearish FAANG performance should spell near-term doom for the crypto market, but will it? Maybe not, if the past few months are any indicator.

Despite the crypto bear market, bitcoin has outperformed Apple since January 2018, even though Apple and the tech sector hit record highs during an unprecedented bull run in the US stock market.

If this is how bitcoin performs during a down market, what’s going to happen when the bulls take over — as many market insiders predict will happen in 2019?

Jeremy Allaire, the co-founder and CEO of Circle, says bitcoin will surge over the next three years as institutional investors hop aboard the crypto bandwagon and mainstream adoption grows.

Regardless of its daily price movements, Allaire said bitcoin has a “very significant role” to play as a scarce, non-sovereign store of value.

Moreover, Allaire says the tokenization of financial assets is a growing trend that will gain traction in the near future — and that will ensure that crypto survives and thrives.

“We have a phrase: the Tokenization of Everything,” he said. “We think cryptographic tokens are going to represent every form of financial asset in the world. There will be millions of them in years.”

Author: Samantha Chang
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XRP Transactions via Apple’s Siri Are Now Possible Thanks to an Independent Developer

XRP continues to cement itself as a multipurpose cryptocurrency with enough merits to be the most important altcoin in the market. A few days ago, an independent developer known on Twitter as xRpTo_O managed to develop an iOS implementation that allows users to send XRP with simple voice command.

iOS jailbreak and development scene has been a bit quiet lately; however, this has not stopped some developers from joining their passion for cryptocurrencies with the creation of software to facilitate the lives of users beyond what official apps have to offer.

In a video, the user communicates with Siri through voice commands in a natural way and sends 0.5 XRP to a user that Siri found in its database.

Although the video only shows money transfer, the developer has been adding several features over time. The app establishes a communication link between Siri and XRP TipBot making the app much more functional with every new release.

Ripple, Apple, and Alexa: The Big Giants Have Not Yet Given Their Thumbs Up to Hands-Free XRP Tipping

Although neither Ripple nor Apple are directly involved in the development of this app, its creation is a sign of the growing interest of the community in this cryptocurrency. While on previous occasions some critics of Ripple’s philosophy claimed that XRP did not have the necessary properties to be considered a true crypto, the recent increase in the number of users and the software developments that are being achieved to boost the use of XRP in everyday life are a sign that Ripple is successfully finding a space within the community.

The announcement comes one month after Nixer achieved a similar implementation in which he managed to integrate such service with Alexa.

However, despite the efforts of the developer, shortly after his submission, the application was denied by Amazon:

Right now, Ripple’s token is the second cryptocurrency in terms of global market cap, with a capitalization of $12,236,145,454. The token has suffered the same bearish run of the whole crypto market, but actually the gap between XRP and ETH has been increasing almost at a daily basis.

Author: Jose Antonio Lanz
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Amazon Partners With Apple to Directly Sell iPhone, iPad, Apple Watch

Amazon is signing a deal with Apple to expand its collection of Cupertino’s hardware. The company currently sells devices like the iPhone from third-party sellers, in varying prices and conditions. The new deal hopes to improve the quality of the products sold on Amazon at standard pricing.

As part of the new partnership, Amazon will sell Apple’s new iPhone devices like the new iPhone Xs and iPhone Xr, as well as the new iPad Pro and Apple Watch Series 4. The company is additionally going to sell products from Apple-owned Beats. The new products will be available on Amazon in the US, UK, France, Germany, Italy, Spain, Japan and India over the coming weeks.

Apple’s HomePod smart speaker, which directly competes with Amazon’s Echo products, won’t be sold on Amazon for bvious reasons. The company also doesn’t sell Google’s Home devices.

The new partnership means Amazon’s independent sellers will no longer be able to sell iPhones and other Apple products directly on Amazon. Instead, they will have to get verified as Apple-approved resellers to be able to sell Apple products on Amazon, reports CNET. This will ensure customers get a certain level of quality and don’t have to worry about the quality or legitimacy of the products purchased.

The deal is a big win for Amazon, further expanding the company’s product range just in time for the holidays. With Amazon offering free delivery on all orders for the holidays in the United States, the timing here is perfect.

Author: Mehedi Hassan
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Apple iPhone 5G is coming! In 2020…

Ultra-fast 5G wireless is going to change the world… eventually. It won’t just disrupt the mobile ISP business, but home internet as well. Throughout 2019, I fully expect consumers to be bombarded with 5G marketing that will sell it as the next big thing. And yes, the new standard will be pretty great, but it is not yet necessary. You see, the 5G infrastructure is not yet ubiquitous, and it won’t be for a long while. So while there will probably be Android phones with high-speed 5G modems in 2019, owners largely won’t have any way to take advantage of it.

According to a new report from Fast Company, Apple will be sitting out the 2019 5G shenanigans, instead waiting for at least 2020 to launch the iPhone 5G. You know what? That is very wise. The fruit-logo company is seemingly opting to wait until 5G is worthwhile and not merely a marketing tool.

I am sure you are wondering, what would the harm be of including a 5G modem in an iPhone in 2019? In other words, is there a downside to having such a modem in the phone even if consumers can’t really use it? Well, yes. For one, it adds cost to the manufacturing process, and let’s be honest, the last thing we need is for Apple to have another reason to increase iPhone sales prices — the flagship models are already obscenely overpriced.

More importantly, early 5G modems will likely be huge battery drains, cause massive heat increases, and potentially, be buggy as hell. It is smart to sit on the sidelines and monitor the situation on Android before introducing such a thing to iPhone owners. Let LG and Samsung buyers be guinea pigs!

Case in point, according to the Fast Company report, the Intel 5G modems Apple plans to use are simply not yet up to snuff. The modem currently gets way too hot. Hopefully Intel can produce cooler modem hardware by 2020 that meets Apple’s demanding expectations.

Am I excited for 5G? Very much so. As an iPhone user, am I sad that I won’t have an Apple smartphone with such a modem in 2019? Hell no. Quite frankly, even if Apple waits until 2021 to add 5G to iPhone and iPad, its probably wouldn’t matter. Let the Android user have their bragging rights in 2019, because that is all it will really be… bragging rights. I’d much rather OS upgrades.

Author: Brian Fagioli
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Apple Pioneer Steve Wozniak Has Co-Founded a Blockchain Investment Firm

Steve Wozniak, the tech entrepreneur best known as the co-founder of Apple, has joined EQUI Global, a venture capital fund built using blockchain technology, as a co-founder.

In a Medium post published by the company, Wozniak said that he will scout for technology companies to find the “tech stars” of the future. He also said that he receives innovative pitches regularly; however, this is the first time, after Apple, that he has agreed to join a company. Wozniak added that he believes technology has the power to modify and improve businesses. EQUI Global not only caught his attention but also convinced him that it would prove to be a “game changer.”

According to Wozniak, the team is observing 20 different companies ahead of its official launch. Once the companies are short-listed, they will be mentored by EQUI Global’s board of social entrepreneurs. “We are the teachers and I believe in that so strongly because Apple was strongly mentored. The enjoyment we had, the passion, starting the company, the excitement, it’s the most exciting thing,” said Wozniak.

Wozniak also praised EQUI Global’s co-founders, Baroness Michelle Mone and Douglas Barrowman, for their history in supporting blockchain technology. Last year, Mone and Barrowman announced the development of the $325 million Aston Plaza and Residences in Dubai under their private equity firm Aston Ventures. In February 2018, the couple sold 50 apartments to Bitcoin users successfully.

The couple then launched an ICO for EQUI Capital but managed to raise only $7 million as compared to the expected $80 million by the end of June 2018. The company then abandoned the ICO, changed the name to EQUI Global, and partnered with Apple’s co-founder.

Talking about the new addition to the team, Mone explained, “Woz [Wozniak] has always been my business icon and it’s a dream come true to be working with him at EQUI.”

The “open-ended” EQUI fund will focus on non-institutional investors and tech companies, with only 20% set aside for non-tech companies such as real estate and investment collectibles. Investors can buy EQUITokens in order to join the venture capital fund. They will have the freedom to sell these tokens on external cryptocurrency exchanges to liquidate their investments.

Wozniak said that he believes firms like EQUI will disrupt the VC industry and allow other companies to follow the new model based on blockchain technology.

Author: Habiba Tahir
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Framing Apple’s iPhone keynote

This year’s iPhone event is done and dusted, and now we’re all sitting in the interregnum between the announcements and the reviews. I’ve been lucky enough to live blog these events for years, but the process of creating a live blog is weird. I was taking photos for the site during the keynote, and since I’m a “spray and pray” kind of photographer, I took upwards of 1,600 photos in just a couple of hours.’

I point that out just to say that my attention was more focused on what Apple was doing than the reaction to it. I only had so much bandwidth, and most of it was taken up by the camera. So when I had a chance later to look at all the coverage (and Twitter jokes), it didn’t come as a huge surprise to see that there was a lot of shrugging this year. “S-year” keynotes often feel like downers to the tech world, even though S-model iPhones are often Apple’s most popular and well-loved devices.

It’s certainly too early to say whether that sales pattern will repeat itself this year, but since my attention was dominated by the keynote, another kind of pattern crystalized for me as I was snapping away with the camera: Apple’s structure for announcing new features has a very specific and repeatable narrative structure.
So that’s what this week’s Processor (hey, it’s back!) is about. Maybe Apple’s framing technique was so easy to see because there were fewer product announcements this year, and the announcements that did happen were so straightforward. I saw Apple framing product announcements in a way very similar to how George Lakoff talks about politicians framing issues.

This year’s framing around the camera was especially fascinating. Arguably, the innovation on the iPhone XS that will be most noticeable to customers is the camera. And with that camera, Apple is trying to do some very similar stuff to what the Pixel 2 does: it takes multiple photos at once, it stitches them together, and it does more computation.
But you know what didn’t get mentioned at all during the keynote? Any other smartphone cameras. Apple would rather you frame the new iPhone as a thing that’s getting closer to replacing a DSLR, not as a thing that is in the scrum with other smartphone cameras. Apple sets the terms of the world and of the things that exist in it. That’s the frame.

Lakoff writes:
This gives us a basic principle of framing for when you are arguing against the other side: Do not use their language. Their language picks out a frame — and it won’t be the frame you want.
Once the frame is established, within that frame, Apple tells a story where one thing leads to the next. Here’s how that usually goes:
* Talk about how great Apple products have always been
* Talk about specs and tech details on the new thing
* Talk about how Apple’s new thing will let you do amazing new things

Apple keeps doing these keynotes specifically to create that frame and tell that story. They don’t (just) exist so you will know what the new feature or product is; they exist so you can see yourself as a character in Apple’s story. They’re Apple’s best chance to set the terms of the discussion for its products.

Even in an S-year keynote, where the announcements aren’t that game-changing, Apple can still use this narrative-setting structure to shape how people think about their products. It might be even more important in an S-year.

The real point of the keynote is to make you see yourself as a character in Apple’s story
I don’t think that Apple is unique in consciously deploying a narrative frame as a technique, but I do think that the company has shown a deeper, more conscious awareness of its structure and importance than anybody else. It knows that most people will forget the feature but remember the story arc — or at least remember the feeling that story arc is meant to evoke.

To be clear, I’m not pointing out these rhetorical techniques because I think they’re somehow disingenuous. Apple may be deploying tactics we more often see in political discourse, but that doesn’t mean that it’s just propaganda. It’s marketing. And Apple has proven itself to be very good at marketing over the years.

Author: Dieter Bohn
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