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Top stories today:
- Apple said to have delayed cheaper Vision Pro launch beyond 2027
- Perplexity launches dedicated hub to track election
- Novoās new obesity drug CagriSema aims for record weight loss
- Apple continues to lead global tablet market
- Dollar slips against all Group-of-10 peers ahead of U.S. election
- Chinaās fiscal, infrastructure spending falls short of targets
0. Data and calendar
All values as of 6 AM ET / 3 AM PT, other than S&P500 and NASDAQ close (4 PM ET / 1 PM PT).
All times are ET.
Correction: The calendar originally showed an incorrect BioNTechās Previous data. It is correct now.
Listen to our AI-generated podcast summarizing todayās newsletter (beware the few hallucinations):
1. Apple said to have delayed cheaper Vision Pro launch beyond 2027
The lack of successful use cases reportedly delayed Appleās plans.
2025-end was the previously rumored launch schedule.
2025: when an upgraded M5 processor-powered Vision Pro is expected.
āThinner designā could be on the new MacBook Pro.
OLED display is also expected.
M6 (2nm) chip is expected to power the 2026 MacBook Pro.
2025 MacBook Pro is rumored to have the M5, M5 Pro, and M5 Max chips.
Recently, Apple launched its new MacBook Pro with the M4 chips.
Additionally, Warren Buffett reduced Apple holdings by 25% in Q3
-60% in Berkshire Hathawayās stake in Apple since the 2024-beginning.
$69.9B is the current value of Berkshireās holding, vs. $174.3B at the end of 2023.
$325B in cash held by Berkshire after selling Apple and BofA shares.
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3. Perplexity launches dedicated hub to track election
Voting requirements, poll times, and AI analysis will be available through the hub.
AP and Democracy Worksā API will be the sources of information.
Rivals like OpenAI have refrained from showing election information.
4. Novoās new obesity drug CagriSema aims for record weight loss
25% weight loss is what the Danish drugmaker expected.
The Semaglutide + Cagrilintide combination is currently in testing.
Dec.: when a large study of CagriSema is due to read out.
Eli Lillyās Zepbound set to compete against Novoās latest offering.
5. Tablet shipments globally reach 39.6M units, with Apple continuing domination
12.6M iPad units were shipped by Apple, +1.6% YoY.
-16% in Appleās market share to 31.7% in Q3 from 37.7% a year ago.
Samsung came 2nd, with 7.1M units shipped.
Amazon was back in the top-5 list, with 4.6M shipments.
+44.1% in Huaweiās growth, with 3.2M shipments.
6. Chinaās fiscal, infrastructure spending falls short of targets
$3.7T (26.2T Yuan) in fiscal spending through Sep., slightly below last yearās 26.4T Yuan spending.
+3% in spending was projected this year.
This week: Chinese lawmakers are deciding on the next stimulus package.
Analysts arenāt expecting a significant boost for the economy.
Chinese local govt. infrastructure funds are spending -15% less this year
$820B have been spent through Sep., vs. $907B a year ago.
7. Dollar slips against all Group-of-10 peers ahead of U.S. election
-0.7% move in the Bloomberg Dollar Spot Index ā the largest drop since late August.
+0.9% for the Mexican peso, +0.7% for the yen, +0.6% for the yuan.
+0.6% for the Norwegian krone and the Australian dollar.
8. China EV stocks outperform global peers since Aug.
+5.6% in BYDās share price on Mon.
+6% in Xpeng and Geely Automobile stock prices.
āRecord high monthly deliveriesā by quite a few players, a Nomura analyst said.
9. Interesting videos, posts, and memes
10. Other headlines
AI
Microsoft, a16z propose AI policy for startups, stress cost-benefit regulation.
Walt Disney forms business unit to coordinate use of AI, augmented reality.
Intel CEO drops $500M+ Gaudi AI chip forecast for 2024.
CoreWeave forecasts revenues to grow 4x to $8B in 2025: report.
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Tech & law
US CHIPS Act finalizes $123M grant from $33B+ amid bipartisan criticism.
Elon Musk fails to dismiss ex-Twitter CEO Parag Agrawalās severance claim.
TikTok sued by French families over alleged failure to remove harmful content.
Biotech
Happy Aging introduces women-targeting longevity shot.
Toray, Tsukuba join forces to advance longevity research.
EU antitrust regulators to rule on Novo-Catalent deal by Dec. 6.
Business
Oil gains $1+ after OPEC+ delays output hike.
China urges EU on agreeable EV trade solution as France defends bloc.
Mitsubishi, Nissan to establish JV on autonomous driving: report.
Crypto
U.S. politics
Selzer poll gives Harris +3 for Iowa.
Trump at 53% odds according to Nate Silverās model.
Trump +0.3% in PA, +0.1% nationally, according to RealClearPolling.
Trump-betting whale: āI have absolutely no political agenda.ā
Arizona prosecutor investigates Trump over Cheney-related gunfire remark.
Trump wants RFK in administration, doesnāt rule out banning certain vaccines.
~$1B has been spent on political ads over the last week.
World
Iran said planning to use more powerful weapons in next attack on Israel.
Israel ends agreement facilitating work of UNRWA, accused of terrorism ties.
German foreign minister vows support as Ukraine enters 3rd winter of war.
Moldovaās pro-Western Sandu claims election win after meddling allegations.
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