Gavin Baker @GavinSBaker Husband, Becky Painter. CIO, Atreides Management. Former PM, Fidelity OTC fund. No investment advice, views all my own. Aug. 12, 2019 1 min read

1) I think the wearables growth vector is more powerful, sustainable and valuable than services for $AAPL. 

2) $AAPL is fundamentally not good at services, which *might* change over the next 2-3 years given the hiring of John Giannandrea. The services growth story is mostly about exploiting the power of defaults and extracting value from other co’s for access to $AAPL’s user base.

3) While wearables is exactly what $AAPL is best at – hardware/software/ecosystem – and creates value for the user base while lowering churn.

4) The iPhone is becoming an edge server for Airpods and Watches. AR will accelerate all of this. Attach rates still low, runway is long.

5) No opinion on the stock right now, just intellectually interested and important to be aware of developments in their ecosystem. i.e. Airpods driving podcast growth.

You can follow @GavinSBaker.


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