Hey Snackers,
First we had sold-out "flights to nowhere." Now we have sold-out pop-up restaurants in grounded airplanes. The takeaway: people really miss plane food.
Earnings Season kicked off yesterday with stocks dropping on some yikes-worthy results and a fresh corona surge. US COVID-19 hospitalizations hit the highest level in nearly six weeks.
Life could be a screen... Apple's seeing to it. The Fruit already killed the audio jack and the home button (RIP). Now, don't expect free headphones or even a charger to come with the biggest iPhone screen ever (FYI, Apple measures screen sizes diagonally). The new iPhone 12 lineup:
Throw some wheels on it... And you've got yourself a self-driving iPhone. Unlike the two-eyed Normie and Mini, the Pros have three cameras. But the Pros also have lidar sensors, which shine lasers at objects to measure their distances.
This could be the biggest wave of iPhone upgrades... iPhones used to make up 70% of Apple’s revenue. Last quarter, they made up just ~44% of total sales. But now all four iPhone 12 models are 5G-enabled. That faster tech could convince millions to cave for better streaming, chatting, and browsing (which we're doing more than ever).
Diet Coke or OJ?... Delta CEO Ed Bastian will take a double whiskey neat with that earnings report. July to September is usually Delta's peak travel quarter, but instead of swimming in Mykonos you were streaming My Octopus Teacher. Do you want the bad news or good news first, Ed?
First to land... While Delta's passenger sales were down 83%, Bastian says there are signs that demand is picking up going into the holidays. Plus, its co-branded Amex card is doing better than competitors, helping offset flight losses. Delta was the first airline to report — and it might go downhill from here:
Reopening stocks fly together... These travel, hospitality, and movie theater stocks benefit disproportionately from murmurings of a return to normalcy. But when one falls, the others usually follow. American and United shares plopped on the Delta earnings. More anti-reopening news bruised other stocks yesterday, too: Carnival, AMC, and Marriott. Like airlines, these companies are hoping stimulus medicine and/or a vaccine will come to the rescue (ASAP).
🍪 Thanks for Snacking with us! Want to share the Snacks? Invite your friends to sign up here.
Disclosure: Authors of this Snacks own shares of Apple, Uber, Amazon, and Delta
ID: 1366989