Top stories today:

1. Apple said to have delayed cheaper Vision Pro launch beyond 2027
2. Perplexity launches dedicated hub to track election
3. Novo‘s new obesity drug CagriSema aims for record weight loss
4. Apple continues to lead global tablet market
5. Dollar slips against all Group-of-10 peers ahead of U.S. election
6. China’s fiscal, infrastructure spending falls short of targets

0. Data and calendar

Listen to our AI-generated podcast summarizing today’s newsletter (beware the few hallucinations):

1. Apple said to have delayed cheaper Vision Pro launch beyond 2027

• The lack of successful use cases reportedly delayed Apple’s plans.

• 2025-end was the previously rumored launch schedule.

• 2025: when an upgraded M5 processor-powered Vision Pro is expected.

Relatedly, MacBook Pro with a “total redesign” is rumored to launch in 2026

• “Thinner design” could be on the new MacBook Pro.

• OLED display is also expected.

• M6 (2nm) chip is expected to power the 2026 MacBook Pro.

• 2025 MacBook Pro is rumored to have the M5, M5 Pro, and M5 Max chips.

• Recently, Apple launched its new MacBook Pro with the M4 chips.

Additionally, Warren Buffett reduced Apple holdings by 25% in Q3

• -60% in Berkshire Hathaway’s stake in Apple since the 2024-beginning.

• $69.9B is the current value of Berkshire’s holding, vs. $174.3B at the end of 2023.

• $325B in cash held by Berkshire after selling Apple and BofA shares.

3. Perplexity launches dedicated hub to track election

• Voting requirements, poll times, and AI analysis will be available through the hub.

• AP and Democracy Works’ API will be the sources of information.

• Rivals like OpenAI have refrained from showing election information.

4. Novo‘s new obesity drug CagriSema aims for record weight loss

• 25% weight loss is what the Danish drugmaker expected.

• The Semaglutide + Cagrilintide combination is currently in testing.

• Dec.: when a large study of CagriSema is due to read out.

• Eli Lilly’s Zepbound set to compete against Novo’s latest offering.

Novo’s shares are -25% since its Jun. peak as the existing Ozempic and Wegovy drugs didn’t meet market expectations

5. Tablet shipments globally reach 39.6M units, with Apple continuing domination

• 12.6M iPad units were shipped by Apple, +1.6% YoY.

• -16% in Apple’s market share to 31.7% in Q3 from 37.7% a year ago.

• Samsung came 2nd, with 7.1M units shipped.

• Amazon was back in the top-5 list, with 4.6M shipments.

• +44.1% in Huawei’s growth, with 3.2M shipments.

6. China’s fiscal, infrastructure spending falls short of targets

• $3.7T (26.2T Yuan) in fiscal spending through Sep., slightly below last year’s 26.4T Yuan spending.

• +3% in spending was projected this year.

• This week: Chinese lawmakers are deciding on the next stimulus package.

• Analysts aren’t expecting a significant boost for the economy.

Chinese local govt. infrastructure funds are spending -15% less this year

• $820B have been spent through Sep., vs. $907B a year ago.

7. Dollar slips against all Group-of-10 peers ahead of U.S. election

• -0.7% move in the Bloomberg Dollar Spot Index — the largest drop since late August.

• +0.9% for the Mexican peso, +0.7% for the yen, +0.6% for the yuan.

• +0.6% for the Norwegian krone and the Australian dollar.

8. China EV stocks outperform global peers since Aug.

• +5.6% in BYD’s share price on Mon.

• +6% in Xpeng and Geely Automobile stock prices.

• “Record high monthly deliveries” by quite a few players, a Nomura analyst said.

9. Interesting videos, posts, and memes

10. Other headlines

AI

• Microsoft, a16z propose AI policy for startups, stress cost-benefit regulation.

• Walt Disney forms business unit to coordinate use of AI, augmented reality.

• Intel CEO drops $500M+ Gaudi AI chip forecast for 2024.

• CoreWeave forecasts revenues to grow 4x to $8B in 2025: report.

Tech

• Apple to invest up to $1.5B in Globalstar for satellite coverage expansion.

• NVIDIA to replace Intel in Dow Jones Industrial Average.

• X now lets blocked users see your public posts.

Tech & law

• US CHIPS Act finalizes $123M grant from $33B+ amid bipartisan criticism.

• Elon Musk fails to dismiss ex-Twitter CEO Parag Agrawal’s severance claim.

• TikTok sued by French families over alleged failure to remove harmful content.

Biotech

• Happy Aging introduces women-targeting longevity shot.

• Toray, Tsukuba join forces to advance longevity research.

• EU antitrust regulators to rule on Novo-Catalent deal by Dec. 6.

Business

• Oil gains $1+ after OPEC+ delays output hike.

• China urges EU on agreeable EV trade solution as France defends bloc.

• Mitsubishi, Nissan to establish JV on autonomous driving: report.

Crypto

• Singapore pushes for commercialization of tokenization.

• ETH researchers quit EigenLayer roles over conflict concerns.

U.S. politics

• Selzer poll gives Harris +3 for Iowa.

• Trump at 53% odds according to Nate Silver’s model.

• Trump +0.3% in PA, +0.1% nationally, according to RealClearPolling.

• Trump-betting whale: “I have absolutely no political agenda.”

• Arizona prosecutor investigates Trump over Cheney-related gunfire remark.

• Trump wants RFK in administration, doesn’t rule out banning certain vaccines.

• ~$1B has been spent on political ads over the last week.

World

• Iran said planning to use more powerful weapons in next attack on Israel.

• Israel ends agreement facilitating work of UNRWA, accused of terrorism ties.

• German foreign minister vows support as Ukraine enters 3rd winter of war.

• Moldova’s pro-Western Sandu claims election win after meddling allegations.

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