The Worst Call of All Time?

Tale of the Tape

Good evening folks. Stocks rallied today and for this we are grateful.

The S&P 500 gained .99%. w00t! The index is now down .2% for the month, essentially flat, so tomorrow will tell the tale.

It was a catch up day with some of the worst stocks outperforming. Boeing rallied 14%. Small caps rallied 3%. Airlines rallied 5%. Whatever…

We got a ton of stuff going today so we’re going to keep this section brief and get right to it…

S&P 5003,053+1.47%
Russell 20001,421+3.08%
Dow Jones25,595+2.32%

This Day 13 Years Ago Today:

June 29, 2007, Apple dropped the iPhone and the world has never been the same.

Here’s the OG cult followers camping in front of the iconic 5th Ave Apple store in NYC prior to the launch. Cool but also, these guys are all lunatics.

If your product drop has campers it’s probably not a bad thing though.

Had you bought that first iPhone and kept it brand spankin’ new, you could be sitting on a 35X return. Wowza 👀

Steve Ballmer LOLZ

The biggest lolz around the historic iPhone launch comes from then Microsoft CEO Steve Ballmer. 

At the time, Ballmer was trying to temper the impact in what may be one of the worst calls of all time. Here he is from 2007:

There’s no chance that the iPhone is going to get any significant market share. No chance. It’s a $500 subsidized item. They may make a lot of money. But if you actually take a look at the 1.3 billion phones that get sold, I’d prefer to have our software in 60%, 70%, or 80% of them, than I would to have 2% or 3%, which is what Apple might get.

Dissing the iPhone is the hot fudge sundae but then claiming that Microsoft would get 80% market share is the cherry on top.  

Don’t feel too bad for Ballmer though. He’s still the gabillionaire owner of the LA Clippers.

And while we’re roasting Mr. Softie – Since April 2007, Apple has gained 3,024% while Microsoft only a measly 862%. Lol

Here’s Ballmer dancing with that barbaric yawp. 🕺

Boeing Got A Boost ✈️

Boeing had its best day since March 25th. 

$BA gained 14.40% following yesterday’s announcement that 737 MAX test flights could begin as soon as today. We don’t know about y’all but we’re in no rush to board. 

Here’s the daily chart. This stock is loco. 🤪

$BA 52-wk range $95.01-$386.89. 

Lululemon Buying Mirror Maybe Bad for Peloton?

Holy Smokes! This feels big, guys.

Dominant Yoga brand Lululemon is buying Mirror Interactive Fitness for $500M.

Mirror is a hella cool company that makes an interactive workout mirror. This video explains it best if you are not familiar. 

$LULU is entering Peloton’s general arena and $PTON sold off a couple bucks on the news in the after-hours.

$LULU vs $PTON? Place your bets… 

India Banned TikTok WTF

India banned TikTok, WeChat as well as 57 other Chinese apps due to security concerns. 

Things are starting to get weird between the two nations, last week 20 Indian soldiers were killed in a dispute at the border.

Here’s the Wall Street Journal with more. 

To Mr. Modi and Mr. Xi, if y’all need any help, give us a mediation call. We’ll smoke a bowl and hash it out. 🤝 

Earnings Tomorrow

Be sure to know when your stocks report earnings. Here’s the full earnings calendar.

Links That Don’t Suck

🌊 Kelly Slater on Surfing Wipeouts

🏀 Kawhi Leonard 2014 NBA Finals Highlights vs Miami Heat 

(HBD Kawai 🥳)

📈 Millennials on Investing, Debt, and Banking

🙏 Amazon Announces $500 Million in ‘Thank You’ Bonuses to Employees 

🗺 A Design Lover’s Guide to Safe Summer Road Trips 

🔍 Identifying a Trend Reversal in a Stock 

🛍 What Kind of Consumer Are You?

🔮 Why Stocks Can Predict The Next President

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