|
|
|
|
Good morning.
Leonardo Maria Del Vecchio, one of the heirs of Ray-Ban owner EssilorLuxottica, could have used a pair of smart glasses two weeks ago when he appeared on a podcast cohosted by rapper Fedez, where he bragged about owning two yachts, boasted of thousands of sexual conquests and joked about having $1.1 billion in personal and corporate debt. Okay, he’s Italian, some of that comes with the territory. He’ll also need extra-polarized shades to withstand the media glare after the 31-year-old scion’s declaration that he should be running the family eyewear empire instead of EssilorLuxottica CEO Francesco Milleri, his late father’s hand-picked successor who he views as unworthy of the job.
An attempt to buy out two siblings failed over the summer, with blood and board opposing Del Vecchio’s plan to use the company to backstop his personal debt. The family rift hurt EssilorLuxottica’s stock price by stoking fears of corporate instability, and he pledged in August to step back and focus on his own capital firm. But, apparently, Del Vecchio can’t help himself. In radio interviews this week, he has roared back, trash talking Milleri as nothing more than a “caretaker” and accusing him of failing to put a succession plan in place. EssilorLuxottica told Bloomberg News this is “unfounded and damaging to the company’s image,” and that succession is being overseen by the board in compliance with corporate governance. What it couldn’t say is that a certain crown prince should take a hike to Lake Como.
|
|
|
MARKETS
|
|
|
Stock data as of market close on October 27, 2026.
|
|
|
|
|
|
|
|
|
Photo via Imagine China/Newscom
|
The $5 trillion-dollar club seems to only have room for two companies: Apple and Nvidia. The two tech giants have been bopping back and forth between being the world’s most valuable company and the world’s second most valuable company — their market caps rising and falling by hundreds of billions of dollars like a drunk high-roller’s chip pile at The World Series of Poker.
Most recently, Apple surpassed Nvidia on Friday after launching its foldable Duo phone. Now, Apple’s rolling out product after product targeting the end-buyer for AI, on Tuesday unveiling its new powered up iMac and MacBook Pro, both built to process AI workloads faster than their comparable predecessors (but the top-of-the-line MacBook Pros from the last gen outperform this gen’s base models).
Nvidia’s chips were integral to building AI long before anyone turned to ChatGPT for therapy. Both companies are turning AI into hardware but Apple’s focus is much further down the funnel: customers willing to wait for days outside of its stores for AI-forward devices.
Finally Getting Siri-us
Nvidia sprinted to $5 trillion, reaching the pinnacle for the first time (well, any company’s first time) last fall following a meteoric two-year stock surge of more than five times.
Apple meanwhile was largely written off in the AI race. Its early attempts to AI-ify Siri were ugly and embarrassing — the words of Apple’s top Siri exec, not ours. Apple settled a $250 million class action lawsuit last spring after it delayed the delivery of AI features that execs initially said would be part of fall 2024 iPhones. Optics were rough and the r/applesucks Reddit forum was fuming (as it often does). Siri finally got her makeover this summer.
After its initial flop, Apple took a more measured approach to AI:
- Apple’s AI capital expenditures are dwarfed by those of its rivals, as it largely gives up on creating the most powerful AI models. Apple leveraged Google’s Gemini to build its revamped version of Siri, and its AI features seem to be marketed more for their privacy than performance.
- The popularity of the Mac mini to run AI agents 24/7 showed Apple demand for hardware that can handle AI workloads locally, giving users more privacy and saving AI power users tokens they’d otherwise spend on cloud computing. Apple leaned into that demand for hardware, counting on its tech to keep buyers lining up at stores even if its own AI features are less powerful.
  Golden Apple: Apple doesn’t need to win the AI race, at least when it comes to features, to keep its top market-cap spot alongside AI leader Nvidia. As long as people keep buying its hardware, its rivals’ offerings can live as options in its App Store. And people may use AI without realizing it through Apple’s built-in features. A slightly smarter Siri can still set a 20-minute timer for cinnamon rolls.
Written by Jamie Wilde
|
|
|
|
|
|
|
|
|
|
|
|
|
Photo via Aspiriant
|
|
|
|
|
|
|
|
|
|
|
Photo via Vernon Yuen/ZUMAPRESS/Newscom
|
The laptop computer has been around since 1981. Now it’s part of the arsenal of democracy.
Defense tech company Anduril is teaming up with chipmaker Qualcomm Technologies to make an American-designed and assembled laptop, the firms announced Tuesday. Anduril will make the device, which is the first from the new BlueChip line, at its Ohio facility while San Diego-based Qualcomm Technologies will provide the processing, graphics and on-device artificial intelligence via its Snapdragon X Series. Qualcomm CEO Cristiano Amon said the chips will be manufactured at the Taiwan Semiconductor Manufacturing Company’s Arizona plant, The Wall Street Journal reported. The computers are coming in 2027.
Moonshot of American Supply Chains
The can-do spirit from the two companies comes after decades of offshoring that “have left America dependent on foreign manufacturers for the computers and components that power everything from personal devices to critical government infrastructure,” per the press release. That, they say, creates a national security issue, since overseas supply chain disruptions could limit access to some of the products essential to making computers.
The reality is that it will take more than a laptop to repair the results of all that offshoring. Even as more companies talk about reshoring, domestic output of computer and electronic products grew just 2.8% between 2024 and 2025 while imports jumped 29%, according to consulting firm Kearney’s most recent reshoring index. The costs of making these products in other countries such as China, Vietnam, India and Mexico are below what it would be in the US, and given that countries are boosting subsidies to get manufacturers like Apple and Samsung to build locally, that cost difference isn’t likely to shift, the report said.
But Anduril and Qualcomm are trying to change that:
- An American-designed and American-assembled laptop isn’t the same thing as a laptop made completely with an American supply chain. But more than 90% of the BlueChip prototypes’ components are from the US and allied countries.
- “Anduril is working to expand domestic component production ahead of planned availability in 2027, with the long-term goal of building a fully domestic supply chain,” the company said. BlueChip will “rebuild the suppliers, manufacturing processes and expertise needed to produce these systems at scale.”
‘Most Critical Industries’: Don’t think you’re going to snag one of these devices to join Zooms or shop online, at least not right away. This first laptop is for industries including government, defense, first responders and public safety. The Journal reported they’ll be heavy and waterproof.
Written by Mallika Mitra
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
There’s no place like home. For Coca-Cola, that was the problem in the third quarter.
On Tuesday, the beverage giant reported flat North American sales volume in the three months ending Oct. 2, down from 3% in the second quarter and contrasting with bubbling demand in the rest of the world. It left investors just a tad worried about just how addic—er, brand loyal Coke fans are on the company’s home turf, sending its shares down 1.6%.
A ‘Fridge Cigarette’ Break
Coca-Cola’s stock is up 32% this year, more than double the 14% gain of the S&P 500 Consumer Staples sector. Given how food and drink makers have been pitted against the souring sentiment of inflation-plagued shoppers, it is an impressive run. The fact that shares in heated rival PepsiCo are in a fizzless, negative 6% slump makes it extra aspartame sweet.
On Tuesday, however, Coca-Cola’s strong fundamentals were pitted against the home turf stagnation. On the plus side, its quarter profit of $4 billion, up 10% year over year, and revenue of $13.4 billion, up 7%, both came in ahead of Wall Street’s expectations. And, while higher prices contributed to some of those gains, beverage volumes rose 5% globally. This is crucial because it means customers all over are flat out buying more drinks. Diet Coke and Coke Zero, in particular, sold 6% and 16% more in the quarter. Executives can thank the TikTok-inspired trend that has Gen Z consumers calling its sugarless colas “fridge cigarettes” for their utility as a refreshing, tobacco-free replacement for smelly old smoke breaks.
In another testament to its bedrock strengths, Coca-Cola proved more profitable as its operating margin climbed to 33.4% from 32% in the third quarter. Leaders at Procter & Gamble, Nestle and Reckitt have cautioned in recent weeks that consumer goods companies could resort to new price hikes as their margins come under pressure from higher costs related to the US war with Iran. “Our commodity exposure overall remains manageable,” CEO Henrique Braun said on Coca-Cola’s earnings call. Executives are ending the year bullish:
- Coca-Cola hiked its organic revenue growth forecast for 2026 to at least 5% and its adjusted earnings growth guidance to at least 11%. Braun blamed the slow North American quarter on the timing of July 4 this year, which meant that part of the shipping and sales volume related to the holiday ended up in the second quarter.
- Still, Coca-Cola acknowledged the squeeze Americans are facing from rising gas and grocery prices. “Cost pressures have accelerated, and all of this has an impact on many consumers,” Braun noted. Pepsi’s North American beverage volume fell 2% in its latest quarter, offering additional evidence that consumers could be cutting back or trading down to generic brands.
Bubbly Bubbly: US consumer confidence unexpectedly rebounded to the highest level in four months in October, the Conference Board said Tuesday. And even if traders were a bit skittish on Tuesday, Wall Street remains bullish on Coca-Cola in any case: Of 26 analysts surveyed by Zacks Investment research, 19 of them rate it as a strong buy.
Written by Sean Craig
|
|
|
|
|
|
- Plug and Replay: General Motors is preparing to introduce multiple hybrid SUVs, roughly a year after it significantly cut back on electric vehicle production.
- Boeing, Boeing, Gone: Boeing shares descended more than 10% on Tuesday after the planemaker cut its 737 delivery target and conceded that production is behind schedule.
- Understand Anthropic’s S-1. With the S-1 now public, the markets are trying to decide if Anthropic’s “irresponsibly large” investments (their words) are a sign of prosperity or impending doom. Get an informed analysis, and a side of humor, with Short Squeez. Read here.**
**Partner
|
|
|
|
|
|
|
Disclaimer
*By filling and submitting this form you understand and agree that the use of Oracle’s website is subject to the Oracle.com Terms of Use. Additional details regarding Oracle’s collection and use of your personal information, including information about access, retention, rectification, deletion, security, cross-border transfers and other topics, is available in the Oracle Privacy Policy.
|
|
|
|
|
|
|
|
0 komentar:
Posting Komentar