Apple Earnings, Amazon Earnings

Apple’s Earnings show the stabilizing factor of services and the upside of China; Amazon’s earnings show that supply constraints make forecasts easy.

Apple’s Errors

Apple’s management made three errors that led to the restatement of revenue; those errors, though, suggest that the company’s business is in better shape than it appears.

Antitrust, the App Store, and Apple

Apple’s case before the Supreme Court is about standing; Apple has a strong case. That, though, doesn’t mean the App Store isn’t a monopoly — and that Apple isn’t increasingly predicated on rent-seeking.