ACTIVE: The Apple Investor Conference (WWiC)

Retail Ownership of the 'Magnificent 7' Stocks.

Last night, $GOOG downplayed Eddy's comments, suggesting the takeaway was a false alarm. These seemingly conflicting accounts could both be true. Eddy said Safari searches had declined—but many users also search via Chrome, which holds roughly 50% market share on Apple devices, and that volume likely continues to grow. In its blog post, Google noted that people are using search in “new ways” and that this shift is just beginning—which is a positive trend. Still, even if Chrome searches are rising, the fact that Safari searches declined for the first time is notable. Something is changing. I’ll cut to the chase: the central question is this—among users who are using with generative AI daily, how has it impacted their use of Google? I stand by my belief: they’re using Google far less. And that matters, because the number of people using generative AI is growing quickly.

$GOOG down 6% on comments from Apple's Eddie Cue is just the beginning of the decline. GOOG is likely going lower because Search is in the very early stages of a seismic change that investors haven't fully factored into current valuation.

This doesn’t surprise me one bit. They’ve been way too slow to add flashy new features. The perception that watches are the same YoY is arguably even worse than phones. I know multiple people who still wear Series 3 watches. Not to mention that the Ultra has barely been updated since it debuted three years ago.