Post-turtle neck era... Tomorrow marks the 10-year anniversary of Tim Cook becoming Apple's CEO, replacing founder Steve Jobs. Jobs was a creative visionary who pioneered the revolution from the PC to mobile era. Cook has been more of an operational magician. But how has the tech giant changed under his reign? A big part of it is Cook's ability to scale.

• #s: 72M iPhones sold in 2011, vs. an estimated 240-250M in 2021. Since 2011, the number of App Store apps has more than quadrupled to 2M today.
• Top-selling smartphone: In 2011, it was the Samsung Galaxy SII — the iPhone 4 ranked 4th. In 2021, the top-four sellers are all iPhones.
• Value: In 2011, Apple hit a $337B market cap, surpassing Exxon to become Earth's most valuable company. Today, it's worth $2.5T — still the most valuable.
• Products: In 2011, Apple unveiled the new iPod touch and iPod nano (#RIP). In Cook-era 2015 we got Apple Watch, followed closely by AirPods.

Tim Cooking in the kitchen... iPhone is still the core of Apple, and brings in more than half its sales. But Apple's biggest shifts under Cook have been scaling services and elevating privacy.

• Services: In 2011, Services consisted mainly of iTunes, App Store, and iCloud. Now, Apple's self-feeding ecosystem has expanded to include TV streaming, fitness, games, and even a services bundle, launched last year.
• Privacy: Apple has become a leader in privacy — from Face ID to the latest iOS upgrade, which lets users decide whether to let apps track them for ads. But it's recently received unprecedented backlash over a new anti-child pornography measure.
• Through the App Store and its consumer-friendly devices, Apple has also contributed to the growth of other tech giants. About that...

Drop the triple-shot latte... The cost of coffee beans has jumped 43% so far this year. An unusual frost in Brazil — the world’s #1 coffee producer — is contributing to soaring java prices. Companies know that consumers hate paying extra for the same products. Now, some java giants may consider "swapflation" to deal with rising costs. AKA: swapping out popular arabica beans for cheaper, but less premium, robusta beans. We could see it in other products, too.

Powell's party... might be nearing its end. To help the economy, the Fed has added trillions to the money supply through bond-buying sprees. That brought us near-zero interest rates during the pandemic, which helped boost spending. Think: lower rates for mortgages, credit cards, and business loans. But as the US economy recovers and prices continue to rise (#inflation), the central bank is considering pulling back on its economy-supporting policy later this year.

Loose-fit jeans = the new sweatpants... Retailers like Gap and Nordstrom boosted online sales last year, even though total sales slumped. As we leave behind pandemic PJs and return to stores for "going out" fits, clothing retailers have a shopportunity to boost sales online and IRL. We’ll see how that's panning out when Gap, Nordstrom, Abercrombie, and Urban Outfitters report earnings this week.

Dollar stores are on a roll... but it's not toilet paper. Last year, Dollar Tree and Dollar General thrived as we stockpiled TP, detergent, and $2 Cool Whip. But sales slumped last quarter, failing to keep pace with last year’s panic purchasing. Still, the dollar dynasties are doing better than they were pre-pandemic. We’ll see if they can keep the good times rolling — even without TP — when they report earnings on Thursday.

• Brakes: A new investigation into Tesla's Autopilot feature may force the EV giant to stop “rounding up” in its marketing.
• Meta: Facebook launched a Sims-like VR office that opens the door to a metaverse future (not just for work).
• Block: US lawmakers are calling for a ’Tok block after China took a stake in TikTok's sister company.

• Calculate: How much you need to earn to make a living wage in your area.
• Read: The 50 best sci-fi and fantasy books of the past decade.
• Work: How to land a job you don't feel qualified for.
• Laugh: The link between happiness and a sense of humor.
• Do: The #1 piece of advice for young workers, according to LinkedIn (and Jeff Bezos).

• Monday: Earnings expected from JD.com and Palo Alto Networks
• Tuesday: New home sales. Earnings expected from Intuit, Pinduoduo, Best Buy, Nordstrom, and Urban Outfitters
• Wednesday: Earnings expected from Salesforce, Royal Bank of Canada, Autodesk, Ulta Beauty, Dick’s Sporting Goods, and Zuora
• Thursday: Weekly jobless claims. Earnings expected from TD Bank, Dell, Dollar General, HP, Peloton, Dollar Tree, J.M. Smucker Company, Gap, and Abercrombie & Fitch
• Friday: Earnings expected from Big Lots

Authors of this Snacks own shares of: Apple, Microsoft, Tesla, Google, and Amazon

ID: 1793185