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• DJ Correction to Apple Makes Rare Apology for iPad Pro Ad. What Its Misstep Means for the Stock. -- Barrons.com, from 8:44AM ET on Friday May 10, 2024 by Dow Jones

  8:44AM ET on Friday May 10, 2024 by Dow Jones
  Companies Mentioned: GOOGL, MSFT, AAPL, AMZN, META, GOOG
  By Callum Keown It's turning into a pretty rough year for Apple. The tech giant issued a rare apology and admitted it "missed the mark" with its controversial iPad Pro ad, which featured creative tools such as a piano, books, and paint pots being crushed. A new iPad was then revealed in their place. The advert sparked a backlash online. British actor Hugh Grant called it "the destruction of the human experience, courtesy of Silicon Valley." The company apologized Thursday in a statement by Apple's vice president for marketing Tor Myhren sent to Ad Age. When contacted, a company spokesperson directed Barron's to Myhren's statement. Apple no longer plans to run the ad on TV, according to the report. It's a distraction the company could do without right now. Apple is battling falling iPhone sales, particularly in China, a landmark Justice Department antitrust lawsuit, and pressure to develop an AI strategy. The company's event earlier this week was designed to reinvigorate iPad sales, which fell 16.7% in the first quarter. Still, it's hard to see the furor causing a damaging boycott, like the one that hit Bud Light sales. The success, or otherwise, of iPad sales is low down on investors' list of concerns -- it accounted for around 6% of March quarter revenue. The impact, however, will do little to reassure investors that Apple is at the top of its game. The stock has shrugged off the controversy, rising 0.5% this week, and more than 8% so far in May. The shares are 4.3% down in 2024, through Thursday's close, and have recovered since going into last week's earnings down 10% for the year. It has underperformed five of the Magnificent Seven -- Amazon, Alphabet, Meta Platforms, Microsoft, Nvidia are all in positive territory -- though not Tesla, which has slumped 30%. A $110 billion stock buyback helped boost morale among investors but Apple's problems remain in play. The iPad misstep may not cause significant damage, but it doesn't exactly inspire confidence at a crucial time for the tech giant. Write to Callum Keown at callum.keown@barrons.com This content was created by Barron's, which is operated by Dow Jones & Co. Barron's is published independently from Dow Jones Newswires and The Wall Street Journal. Corrections & Amplifications Tesla stock is down 30% in 2024. An earlier version of this article incorrectly said it was in positive territory this year. (END) Dow Jones Newswires May 10, 2024 08:44 ET (12:44 GMT)

• DJ Amazon, Taiwan Semi, AMD, Micron, and Other Tech Stocks in Focus Today -- Barrons.com, from 7:35AM ET on Friday May 10, 2024 by Dow Jones

  7:35AM ET on Friday May 10, 2024 by Dow Jones
  Companies Mentioned: MU, TSM, AMD, AMZN, PLTR
  
  By Callum Keown
  
  Tech stocks look set to end the week with a flourish as the sector's solid May gathered momentum Friday. Amazon rose in premarket trading after closing at a record high Thursday.
  

• DJ Apple's iPad Gaffe Is a Concern But Its Future Rests on AI, and 5 Other Things to Know Today -- Barrons.com, from 6:57AM ET on Friday May 10, 2024 by Dow Jones

  6:57AM ET on Friday May 10, 2024 by Dow Jones
  Companies Mentioned: GOOGL, AAPL, AMZN, META, GOOG, DIS
  
  Beyond Meat CEO Ethan Brown said the plant-based food maker was turning itself around after a bumpy first quarter of declining revenue and deepening losses. It has been cutting costs, including non-production jobs, and just introduced a higher-priced premium option, but it needs more money soon.
  

• DJ Bundles Are the Hottest New Show in Streaming -- Heard on the Street -- WSJ, from 5:30AM ET on Friday May 10, 2024 by Dow Jones

  5:30AM ET on Friday May 10, 2024 by Dow Jones
  Companies Mentioned: NFLX, WBD, AAPL, AMZN, CMCSA, DIS
  
  By Dan Gallagher
  
  Can old enemies make for good friends? The future of streaming media might depend on the answer.
  
  Disney and Warner Bros. Discovery surprised investors this week with plans to launch a new streaming bundle that will combine Disney+, Hulu and Warner's Max service. The bundle will make all ad-supported and ad-free options of the three streamers available for one price that will be announced later this year when the bundles are launched.
  

• DJ Apple Makes Rare Apology Over iPad Pro Ad. What Its Misstep Means for the Stock. -- Barrons.com, from 5:28AM ET on Friday May 10, 2024 by Dow Jones

  5:28AM ET on Friday May 10, 2024 by Dow Jones
  Companies Mentioned: GOOGL, MSFT, NVDA, AAPL, AMZN, META, GOOG
  By Callum Keown It's turning into a pretty rough year for Apple. The tech giant issued a rare apology and admitted it "missed the mark" with its controversial iPad Pro ad, which featured creative tools such as a piano, books, and paint pots being crushed. A new iPad was then revealed in their place. The advert sparked a backlash online. British actor Hugh Grant called it "the destruction of the human experience, courtesy of Silicon Valley." The company apologized Thursday in a statement by Apple's vice president for marketing Tor Myhren sent to Ad Age. When contacted, a company spokesperson directed Barron's to Myhren's statement. Apple no longer plans to run the ad on TV, according to the report. It's a distraction the company could do without right now. Apple is battling falling iPhone sales, particularly in China, a landmark Justice Department antitrust lawsuit, and pressure to develop an AI strategy. The company's event earlier this week was designed to reinvigorate iPad sales, which fell 16.7% in the first quarter. Still, it's hard to see the furor causing a damaging boycott, like the one that hit Bud Light sales. The success, or otherwise, of iPad sales is low down on investors' list of concerns -- it accounted for around 6% of March quarter revenue. The impact, however, will do little to reassure investors that Apple is at the top of its game. The stock has shrugged off the controversy, rising 0.5% this week, and more than 8% so far in May. The shares are 4.3% down in 2024, through Thursday's close, and have recovered since going into last week's earnings down 10% for the year. It has underperformed five of the Magnificent Seven -- Amazon, Alphabet, Meta Platforms, Microsoft, Nvidia are all in positive territory -- though not Tesla, which has slumped 30%. A $110 billion stock buyback helped boost morale among investors but Apple's problems remain in play. The iPad misstep may not cause significant damage, but it doesn't exactly inspire confidence at a crucial time for the tech giant. Write to Callum Keown at callum.keown@barrons.com This content was created by Barron's, which is operated by Dow Jones & Co. Barron's is published independently from Dow Jones Newswires and The Wall Street Journal. Corrections & Amplifications This article was corrected at 8:46 a.m. ET because it incorrectly said Tesla stock was in positive territory this year. Tesla stock is down 30% in 2024. (END) Dow Jones Newswires May 10, 2024 05:28 ET (09:28 GMT)