This is mak-o-skin. A strong-by rating for Apple. The annual supply chain freak out is underway, and Beats goes to college. It is Monday, the 28th of August, 2023.

I'm Ken Ray, and this is news from Maco-S-Ken brought to you by yours truly and

supported by people like you patrons through Patreon find out more and add your support at

Patreon dot com slash Maco-West can. Have you ever heard of the advisory firm, Rights Research?

I had not, before a note I saw over the weekend on Philip Elmer DeWitt's Apple 3.0.

I laughed because it doesn't seem like Elmer DeWitt

had heard of rights research either,

though the note that brought the firm

to the site's attention made at least part of it worth

reposting. Maybe it was the thoughts laid down, maybe it was the aggressive move

to the positive. Either way let's boil down what was said.

The firm starts by saying it made a mistake when it started coverage of Apple this past January

with a hold rating.

Rights was, it seems, looking at Apple as if Apple was just another phone maker.

Quoting the firm, one of the main reasons we were skeptical about Apple at current levels

had to do primarily with the amount of growth we were predicting for the next few years.

They thought the numbers would stay flat at best.

Now they say they realized they missed a few key factors, including upgrade cycles,

Apple's ability to attract new users, and the company's ability to monetize

users new and old. Quoting the Wright's research note again,

it has become very clear that instead of looking at this boom bust cycle

starting in 2020, we would have been better off looking five years ahead and considering earlier how much

...