Situational awareness: President Trump tweeted this afternoon that he'll announce his Iran Deal decision at 2 p.m. tomorrow from the White House. "Diplomats who were familiar with the negotiations said Mr. Trump appeared inclined to scrap the deal," the NYTimes notes.
Illustration: Rebecca Zisser/Axios
Apple is on track to become the first trillion dollar company in the world, with a $920 billion market cap and a cash pile of $167 billion after $100 billion in expected stock buybacks, Axios' Erica Pandey writes.
The big picture: Warren Buffett thinks Apple is the best investment, including for Apple itself, and he recently upped his stake in the company to nearly 5%. Charles Munger, his business partner, backed him up, saying, "I think we've been a little too restrained ... I wish we owned more of it."
The competition: Right behind Apple are Amazon, Microsoft and Alphabet, Google's parent company — all of which have market caps of over three quarters of a trillion dollars.
And, as tech rivalries intensify, there's a growing divide between old tech giants like Apple and Microsoft, which develop consumer products, and the new kids on the block — Facebook, Twitter, Snap and even Google — that rely on ad dollars.
Yes, but: Apple (iPhone slowdowns and falling victim to Intel's chip vulnerability) and Amazon (sheer size and rapid growth that draw attention from antitrust watchers) are not immune to the Big Tech backlash, Axios' Kim Hart notes.
Be smart: Apple's stock surge — coming off rave reviews from Buffett — could propel it to the one trillion mark by the end of the week, but its stock price has rallied to all-time highs before, only to come back down to Earth.
Flags of Israel and the United States and a 'US Embassy' sign in Hebrew, Arabic and English are seen in Jerusalem on May 07, 2018. Photo: Mostafa Alkharouf/Anadolu Agency/Getty Images
"Mondelez International Inc. is betting that if you pay more for a classy cookie, you’ll eat more of them," Bloomberg's Craig Giommona reports.