Apple shares were down Friday on news that iPhone sales missed Wall Street estimates for the first time ever. But long-time analyst Gene Munster, now Managing Partner at Loup Ventures, says investors may soon forget about this when the company releases its next product.
“There is talk out of Asia about a screen that's probably about 25 percent bigger than the current iPhone X," Munster told Cheddar.
Munster says a new phone, particularly one with a bigger screen, could create even more revenue for the tech giant.
Despite lower-than-expected smartphone sales, Apple still reported record growth in revenue and earnings in its latest quarterly report. The company brought in $88.3 billion in revenue, up 13 percent from last year, thanks in large part to the hefty price tag for the iPhone X.
But Munster believes investors are starting to pay attention to more than just device sales.
"I think that there is a shift in terms of how investors are thinking about the story, more towards the platform. But there’s always this chatter about what’s the next product coming from Apple,” Munster says.
Apple CEO Tim Cook said the company now has 1.3 billion active device users, which Munster notes is comparable to Facebook’s monthly usership.
For full interview, [click here](https://cheddar.com/videos/the-triple-a-of-earnings-apple-amazon-and-alphabet-release-reports).
Nestlé has dismissed its CEO Laurent Freixe after an investigation into an undisclosed relationship with a direct subordinate. The company announced on Monday that the dismissal was effective immediately. An investigation found that Freixe violated Nestlé’s code of conduct. He had been CEO for a year. Philipp Navratil, a longtime Nestlé executive, will replace him. Chairman Paul Bulcke stated that the decision was necessary to uphold the company’s values and governance. Navratil began his career with Nestlé in 2001 and has held various roles, including CEO of Nestlé's Nespresso division since 2024.
Kraft Heinz is splitting into two companies a decade after they joined in a massive merger that created one of the biggest food companies on the planet. One of the companies will include brands such as Heinz, Philadelphia cream cheese and Kraft Mac & Cheese. The other will include brands like Oscar Mayer, Kraft Singles and Lunchables. When the company formed in 2015 it wanted to capitalize on its massive scale, but shifting tastes complicated those plans, with households seeking to introduce healthier options at the table. Kraft Heinz's net revenue has fallen every year since 2020.
About 780,000 pressure washers sold at retailers like Home Depot are being recalled across the U.S. and Canada, due to a projectile hazard that has resulted in fractures and other injuries among some consumers.
