Aston Martin Struggles to Survive

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Hello World! Here’s your Sunday recap, unpacking last week’s biggest stories in tech, autos, and market shakeups:

• iPad Turns 15 — and Fades into the Background: Once a category-defining device, the iPad now makes up less than 7% of Apple’s revenue as its relevance continues to fade.

• Apple Faces Worst Week Since 2020: A 13% drop marks Apple’s roughest trading week since the COVID crash, with new tariffs threatening to squeeze profits and prices.

• Tech Giants Weigh Down the S&P: The Magnificent 7 dragged the market into negative territory in Q1 — without them, the S&P 500 would’ve posted gains.

• Palantir Tumbles on Budget Cut Fears: Retail hype is cooling as concerns grow over U.S. government spending cuts, sending Palantir stock into a double-digit slide.

• Aston Martin’s Ongoing Struggles: Down 98% since its IPO, the luxury automaker faces debt, delays, and tariffs—despite another cash injection from its chairman.

iPad Turns 15 — and It’s Never Mattered Less to Apple

Fifteen years after its launch, the iPad has become Apple’s least important product line. 🥱 Once hailed as a revolutionary "third device" between smartphones and laptops, the iPad peaked in 2012 when it made up nearly 20% of Apple’s revenue. But as large smartphones and better laptops emerged, the tablet’s purpose became murky — never quite nailing a killer use case. Steve Jobs himself warned in 2010 that tablets would need to be better at certain key tasks to justify their existence. Today, the iPad accounts for less than 7% of Apple’s revenue, a steep drop from its early promise, and reflects the broader decline in the global tablet market.

Apple Faces Worst Trading Week Since COVID Crash

Apple’s stock plunged over 13% last week 🫣 — its steepest drop since the early pandemic — as tech hardware stocks took a beating from new reciprocal tariffs announced by the Trump administration. Analysts at Morgan Stanley estimate Apple could face over $33 billion in extra annual costs due to the tariffs, which apply even to companies that have shifted manufacturing out of China. With few ways to mitigate the impact, hardware makers like Dell and HP are also deep in the red. The added costs could be passed to consumers, but analysts warn this will likely erode demand and profit margins, accelerating a downturn in the hardware sector.

Not-So-Magnificent 7 Drag Down S&P 500 in Q1 2025

Q1 2025 ended on a sour note for U.S. tech giants. Even before the massive post-“Liberation Day” selloff erased $800B from the market caps of the Magnificent 7, the quarter was already tough. Nvidia and Apple alone dragged the S&P 500 down by a combined 2.5 percentage points, contributing over half of the index’s -4.3% return. Other tech leaders like Tesla, Microsoft, Amazon, and Alphabet added to the slump. In fact, if the S&P 500 excluded tech and communication services companies, it would have posted a gain of 0.6%. The takeaway: without Big Tech, the market would've actually been in the green. 🤷

Palantir Slides as Retail Hype Fades and Tariff Fears Rise

Palantir fell over 13% last week, breaking below its 50-day moving average — a key technical support level, amid a broader tech selloff. Palantir is particularly vulnerable due to its heavy reliance on U.S. government contracts, now at risk from expected federal budget cuts. ✂️ 💵 Morgan Stanley analysts recently flagged the stock as high-risk for downward estimate revisions due to this exposure.

From Bond’s Ride to Bailouts: Aston Martin Struggles to Survive

Aston Martin shares have collapsed nearly 98% since its 2018 IPO 😵, with the company now valued at just £664 million — a fraction of Ferrari’s worth. Chairman Lawrence Stroll has led another capital injection this week, raising around £125 million through new funds and a stake sale in its F1 team. Despite seven equity raises totaling £600 million under Stroll, the British carmaker continues to face production delays, high debt, weak sales, and exposure to U.S. auto tariffs. A new focus on high-margin vehicle customization offers some hope, but uncertainty looms as Aston Martin fights to regain financial traction.