Doesn't taste ripe... Apple stock dropped on news that iPhone sales were down 20% last quarter. That's unappetizing to investors, since phones make up a huge slice of the Fruit's business: iPhones generated 52% of total sales last year, but just 41% last quarter. Macs, iPads, Wearables, and Services all saw double-digit growth — but Apple's overall sales were barely up from last year. We'll see if the new iPhone 12 helps in the next earnings (it wasn't on sale yet last quarter).
Why you always in a mood?... Spotify stock tanked 15% for the week after the Swedish streamer missed on Premium sales expectations and posted a loss. But Spotify outperformed on subscriber growth: monthly listeners jumped 29% to 320M, and Premium subscribers were up 27%. Mid-pandemic, your lack of a commute meant Spotify lost hours of pod streaming and aggressive song switching. Now, Spotify's in-car listening has rebounded and overall streaming has surpassed pre-pandemic levels.