Apple and Intel are breaking up

[The beef 675] “Cue the passive-aggressive Instagram posts” - Jeff Hey there carnivores, Markets rose yesterday ahead of the Presidential election. Volatility (read: the VIX) also spiked which is probably something we should all get used to for the next few weeks... Today we’re talking Apple going it alone. Keep raging, Jeff & Jason It’s not you, it’s me Today Apple [announced]( another event that nobody asked for. What we can expect from the event is still a "mystery." During Apple’s recent earnings call, some time after announcing abysmal iPhone sales, but before indicating the company would withhold earnings guidance for the following quarter, Timmy Apple dropped this teaser: “without giving away too much, I can tell you that this year has a few more exciting things in store.” So what's really in store? The November 10th event will almost certainly reveal Apple's new Macs. How can we be so sure? Well, because there's pretty much nothing else left for the company to unveil at this point. But don't get it twisted, this announcement is a big f*ckin' deal for Apple... and the industry. Apple’s new Macs will feature processors made in-house (or by a contracted company and branded as Apple) for the first time since 2006... which means Apple and Intel are officially calling it quits after 15 years. Apple generated a record $9B on Mac products in its Q4. On the day, Apple shares fell 0.09%. So, who’s the new girl? Apple’s first in-house Mac processors will be based on the A14 chip found in the latest iPhones and iPad Air. That means that Apple’s new Macs will boast an increase in power efficiency over the Intel parts they replace. See? Bigger isn’t always better. It’s efficiency that counts. Still living together According to Apple, the divorce could take up to two years. After updating its laptops, Apple has pledged that all of its products, including desktops, will contain Apple chips by 2022... ... unless, of course, the rollout goes about as well as Apple's butterfly keyboards, in which case they'll crawl back to Intel and beg for forgiveness. The bottom line... For Intel, the breakup isn’t a dealbreaker, considering that Apple holds less than 10% of the market for personal computers. You wouldn’t know it if you’d been to a Starbucks on a Saturday in the Before Times But this certainly doesn't help the chipmaker that has been its own worst enemy as of late. Manufacturing issues have delayed its next-gen chips until 2022, allowing its rivals a chance to catch up. *AMD has entered the chat* Catching Breakout Stocks In Real-Time Has Never Been Easier Discover How The Octane Scanner Puts You In The Driver's Seat [Watch Now]( ☑️Not friends. FIC Restaurants, parent company to Friendly’s, the OG casual dining establishment, is filing for Chapter 11 bankruptcy. The company that paved the way for the likes of Chili's and Applebee's is going with [the fire sale approach](, unloading just about all of its assets for $2M to Amici Partners Group. Approximately $1.7M of the assets are frozen chicken tenders. Like many other businesses, Friendly's only has ‘rona boi to blame. Unfortunately, Friendly’s is a return customer at the bankruptcy buffet. The company filed for bankruptcy back in 2011, and sold off its ice cream business to Dean Foods in 2016. ☑️Give me props. When voters in California hit the polls today they’ll effectively decide if Uber and Lyft live or die in the state, in what will be the most important vote since Proposition 64 in 2016 (the one that legalized weed). Proposition 22 will decide if Uber and Lyft will be exempt from categorizing their drivers as employees (vs. contractors). And it looks like things are trending in the right direction for the ride-sharing companies. A [UC Berkeley poll]( shows 46% of Californians voting Yes, 42% No, and 12% undecided. A “Yes” decision would supersede a recent decision in California’s appeals court that ruled Uber and Lyft were indeed violating the state’s new AB-5 law. Under that decision the ride-sharing companies, and others like Postmates, DoorDash, etc. would have 30 days to get their employees health benefits, and paid time off. Which would cost them roughly a fortune… Investors liked the potential good news as well, with Uber and Lyft stocks rising 4.2% and 7.3%, respectively. ☑️Clean sweep. Raise a glass... Clorox [had itself a day](, announcing killer earnings for its fiscal first-quarter. The bleach makers saw sales increase 27% from the same period last year to $1.92B, well above FactSet’s expectation of $1.76B. Net income of $3.22 per share was more than double the same period last year. Fiscal 2021 growth is expected to be between 5% and 9%, which was roughly in line with analysts' expectations. $CLX has been reaping the benefits of its disinfecting products efficacy in the days of ‘rona. Its stock is up 35% YTD after adding 4.23% today on the news. ☑️Paid-Pal. It’s a fickle thing, that stock market. PayPal announced that its third-quarter earnings rose as the payments processing company [continued to benefit](from businesses moving online. EPS was $1.07 compared to expectations of 94 cents. Revenue came in at a juicy $5.46B, up from $4.38B last year and slightly below the $5.42B expectation. Still, the company’s stock price plummeted after Peter Thiel’s brainchild unveiled expected fourth-quarter growth of 17% to 18% which equates to earnings of 97 to 98 cents, below estimates of $1.07. PayPal’s shares dipped 5.5% on the news, but its up 73.6% on the year. 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