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'There's nothing perfect in this world of growing apples.' Extreme weather could complicate future harvests.
Honeycrisp apples on the tree at Tougas Family Farm in Northborough, Massachusetts (Jessica Rinaldi/Getty Images)

The remarkable rise of the Honeycrisp and Cosmic Crisp apples

When it comes to apples, America cannot get enough of the crunch factor.

America is a land of diversity where people, cultures, and inspirations clash to create a melting pot of different ideas. But ask a room full of people what their favorite apple is and these days you might get a lot of the same answer: Honeycrisp.

The apple of our eyes

Unfortunately, as reported by The Wall Street Journal earlier this week, farming them is something of a nightmare. Honeycrisps are easily bruised, often grow too densely for their own good, have to be hand-clipped from trees due to their thin skin, and can be afflicted by diseases that blotch the fruit. They are, as one farmer put it, a “diva.”

They’re also valuable, however, dubbed “moneycrisps” by some. And, along with the Cosmic Crisp and Pink Lady, they’re soaring up the apple production league tables toward icons like Gala and Red Delicious, which have seen production drop over time.

Apple production in the US
Sherwood News

Per data from USApple, the core of the apple-eating market is increasingly the three varieties that make a mouth-watering crunchCosmic Crisp, Pink Lady, and Honeycrisp — production volumes of which have jumped 3,391%, 63%, and 17% in the last five years, respectively.

Remarkably, a study published all the way back in 2013 essentially predicted this boom, finding that when consumers assessed apples based on their appearance, they looked for size and color. When evaluating taste they wanted sweetness and crispness. And they’re willing to pay: per retail price data tracked by USApple, Honeycrisp was the most expensive apple in 2023-24, at $1.88, compared to Gala at $1.49 and Red Delicious apples at $1.26.

But, with production expenses for fruit farms rising across the board, up 49% over the last decade, even producers of the “moneycrisp” have been feeling the pressure in the industry’s bottom line — and the new, crunchier, and crispier varieties also tend to have more volatile prices.

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SpaceX gets a wave of bullish ratings from Wall Street analysts

SpaceX received more than a dozen positive analyst calls on Tuesday — including from major Wall Street banks — as they initiate coverage on Elon Musk’s space and AI company.

SpaceX went public on June 12 at a $2.2 trillion valuation, the largest debut in history. While the company hasn’t yet posted a profit, it seems to have convinced Wall Street that it will get there and grow its valuation on the way.

Of the at least 17 analysts that gave a rating on Tuesday, all but one gave it a “buy” or “outperform” rating. MoffettNathanson was "neutral."

The ratings come as SpaceX joined the Nasdaq 100 index, a benchmark tech-heavy basket of companies that underpins millions of portfolios. The inclusion adds built-in demand for the stock from index funds and ETFs.

Still, SpaceX fell more than 5% on Tuesday amid a broader sell-off, and is currently effectively flat from its opening price of $150 a share.

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