Apple Admits to Slowing Phones and the End of Wearables?
A rare admission from Apple, as the tech giant admits to slowing down old phones to prevent battery burnout. The company says the software is meant to keep iPhone 6s and 7s from unexpectedly shutting down because the processor has burnt out. But skeptics wonder if the company is trying to force users to upgrade to newer, more expensive phones.
And a new report from eMarketer predicts usage of wearables will slow next year, with smartwatch user growth dropping to less than 6 percent by 2021.
Plus, Starbucks reported its first quarter of declining sales and earnings since the pandemic, Biden tries to tackle the national debt and Warren Buffett is set to host the annual meeting of his investment firm Berkshire Hathaway.