- GRIT
- Posts
- Apple Halts Sales of Key Watch Models
Apple Halts Sales of Key Watch Models
Apple, Nikola, Commercial Ships
![](https://media.beehiiv.com/cdn-cgi/image/fit=scale-down,format=auto,onerror=redirect,quality=80/uploads/asset/file/35d3e4b3-151c-4cbb-8c9b-7f10cabfd09b/Grit_logo_b_g.png)
Good Morning!
Did you know that the first roller coaster was used to transport coal down a hill at rates reaching 50 mph. After a while, tourists started asking if they could ride for a few cents.
Hereβs what is happening today:
π Apple to discontinue Apple Watch models in the U.S.
π Nikola founder faces prison
π U.S. announces aggressive stance to combat raiding Houthi militants
Apple: Watch Set To Discontinue
Apple is set to discontinue the sale of specific Apple Watch models in the United States, a move aimed at proactively addressing a potentially significant patent dispute. Starting this Thursday, Apple will cease the sale of both the Apple Watch Series 9 and Apple Watch Ultra 2, both online on Apple.com and in physical retail stores after December 24.
This decision stems from an ongoing legal dispute with medical device manufacturer Masimo concerning the blood oxygen feature in Apple's smartwatches. In October, the US International Trade Commission ruled that Apple had infringed upon Masimo's patent for a pulse oximeter that utilizes light-based technology to measure blood oxygen levels. The resolution now awaits President Biden's review, with a potential ban looming if the ruling is upheld.
![](https://media.beehiiv.com/cdn-cgi/image/fit=scale-down,format=auto,onerror=redirect,quality=80/uploads/asset/file/3f8120dc-be1d-46b7-816f-e3c5ce55f78d/Apple-Watch-S9-hero-230912_Full-Bleed-Image.jpg.large.jpg?t=1702989582)
Source: Apple
Apple has consistently promoted its smartwatches as life-saving devices, a marketing strategy that has propelled the Apple Watch to global popularity. However, its conflict with Masimo poses a significant challenge to this image and could undermine the watch's reputation.
GRIT TAKE: The Apple Watch is a huge market for Apple. This represents a⦠upgrade to VIP to read the full GRIT take.
NIKOLA: Founder Sentenced To Prison
Nikola's founder, Trevor Milton, found himself sentenced to a four-year prison term on Monday for his involvement in defrauding investors of the beleaguered electric and hydrogen-powered truck manufacturer. Alongside the prison sentence, Milton was also fined $1 million and could potentially face property forfeiture as part of his punishment.
This sentence falls significantly below the 11-year request made by prosecutors during Milton's sentencing in the U.S. District Court in Manhattan, but it represents a notable departure from the probation sentence proposed by Milton's legal team. Prosecutors have underscored Milton's apparent lack of remorse for his actions, highlighting his persistent refusal to accept accountability and his tendency to shift blame onto others.
![](https://media.beehiiv.com/cdn-cgi/image/fit=scale-down,format=auto,onerror=redirect,quality=80/uploads/asset/file/469b30f5-386b-488e-becc-1e932288fdef/107349098-1702930982943-gettyimages-1858324785-NIKOLA_MILTON_COURT.jpeg?t=1702989633)
Source: CNBC
In October 2022, Milton was convicted on two counts of wire fraud and one count of securities fraud, carrying a recommended prison term of 60 years under federal sentencing guidelines. It's important to note that the judge granted Milton bail to remain free while he appeals his conviction.
US: Military Takes Decisive Action
The United States military has taken decisive action. Defense Secretary Lloyd Austin announced early Tuesday that the U.S., along with a coalition of other nations, will unite to protect commercial ships that have been under attack in the Red Sea by Houthi militants backed by Iran. These Houthi attacks, in solidarity with the Palestinian group Hamas, have targeted over a dozen vessels since the onset of the Gaza conflict in early October.
![](https://media.beehiiv.com/cdn-cgi/image/fit=scale-down,format=auto,onerror=redirect,quality=80/uploads/asset/file/29436651-2d71-421f-970b-18a49b773c02/231206183343-galaxy-leader-ship-houthis-120523.jpg?t=1702989811)
Source: CNN
The gravity of these attacks, some of which resulted in damage to commercial ships, prompted numerous shipping firms and oil companies to instruct their vessels to remain stationary and refrain from entering the Bab el-Mandeb Strait until the security situation could be resolved. These disruptions have negatively impacted the global supply chain.
Headlines You Need To Know: π
Shipping giant Maersk to begin reroutings in the Red Sea
Google to pay $700 million in Play Store settlement
Swiss regulator calls for more powers after credit collapse
Chinese company ditches year-end bonus for exercise-based reward
More than 100 killed in earthquake in NW China
Tesla wannabes face a cash crunch
Holiday spending to be up big in 2024
US ports are getting a $21 billion upgrade
![](https://media.beehiiv.com/cdn-cgi/image/fit=scale-down,format=auto,onerror=redirect,quality=80/uploads/asset/file/1a73a463-7534-411e-9994-df9e0567fbf9/Screenshot_2023-10-04_at_11.14.52_AM.png)
Chart of the Day
π The most popular Wikipedia articles show that 2023 was the year of AI.
![](https://media.beehiiv.com/cdn-cgi/image/fit=scale-down,format=auto,onerror=redirect,quality=80/uploads/asset/file/1b1126a2-7af3-489c-93ee-b14cda607245/IMG_3037.jpg?t=1702987985)
Source: Statista
Commodities Visionary
In the financial world of the 1990s, Jim Rogers emerged as a pioneer and a legend in commodities trading. Rogers made a bold prediction in the early 1990s β the commodities market was on the verge of a massive surge, and he intended to ride this wave to immense wealth. At the time, the global stage was marked by economic uncertainties, including the fall of the Soviet Union, escalating inflation, and geopolitical tensions. These factors created the perfect storm for commodity prices to skyrocket. Jim Rogers, armed with his visionary perspective, keen analytical skills, and unshakable conviction, began constructing a portfolio heavily focused on commodities such as gold, silver, and energy.
With his comprehensive understanding of market trends and a strong belief in the future of commodities, Rogers went on to make a series of strategic investments. He shared his insights and perspectives through interviews and public appearances, notably stating, "I'm long-term bullish on commodities. The world is consuming more than it's producing. It's a simple supply and demand equation."
![](https://media.beehiiv.com/cdn-cgi/image/fit=scale-down,format=auto,onerror=redirect,quality=80/uploads/asset/file/8fbdc207-7fd0-47b0-b0ee-a20a4f063fcd/F3D9_-AbgAAct1G.jpeg?t=1702989713)
Source: X.com
As the decade progressed, his investments in commodities paid off significantly. Oil prices surged due to increased global demand, and gold became the ultimate hedge against economic uncertainty. Jim Rogers' net worth skyrocketed, and he became a household name in the world of finance, inspiring countless investors to explore commodities.
![](https://media.beehiiv.com/cdn-cgi/image/fit=scale-down,format=auto,onerror=redirect,quality=80/uploads/asset/file/1a73a463-7534-411e-9994-df9e0567fbf9/Screenshot_2023-10-04_at_11.14.52_AM.png)
GRIT Meme of the Day π
Tag GRIT Capital on social media for a chance to be featured in our meme or Tweet of the day in our GRIT daily newsletter! π
![](https://media.beehiiv.com/cdn-cgi/image/fit=scale-down,format=auto,onerror=redirect,quality=80/uploads/asset/file/ca6da851-7963-41ac-995f-1e357ac3d385/IMG_3038.jpg?t=1702988029)
Source: @wallstmemes
Have feedback to share? Click HERE. Good or bad, we are always eager to improve our newsletter.
Interested in being featured in our GRIT Newsletters? Click below!
![](https://media.beehiiv.com/cdn-cgi/image/fit=scale-down,format=auto,onerror=redirect,quality=80/uploads/asset/file/1a73a463-7534-411e-9994-df9e0567fbf9/Screenshot_2023-10-04_at_11.14.52_AM.png)
The author, publisher or insiders of the publisher may currently have long or short positions in the securities of the companies mentioned herein, or may have such a position in the future (and therefore may profit from fluctuations in the trading price of the securities). To the extent such persons do have such positions, there is no guarantee that such persons will maintain such positions.
Grit is a publisher of financial information, not an investment advisor. Grit does not provide personalized or individualized investment advice or information that is tailored to the needs of any particular recipient. Grit does not guarantee the accuracy or completeness of the information provided in this page. All statements and expressions herein are the sole opinion of the author or paid advertiser.
THE INFORMATION CONTAINED ON THIS WEBSITE IS NOT AND SHOULD NOT BE CONSTRUED AS INVESTMENT ADVICE, AND DOES NOT PURPORT TO BE AND DOES NOT EXPRESS ANY OPINION AS TO THE PRICE AT WHICH THE SECURITIES OF ANY COMPANY MAY TRADE AT ANY TIME. THE INFORMATION AND OPINIONS PROVIDED HEREIN SHOULD NOT BE TAKEN AS SPECIFIC ADVICE ON THE MERITS OF ANY INVESTMENT DECISION. INVESTORS SHOULD MAKE THEIR OWN INVESTIGATION AND DECISIONS REGARDING THE PROSPECTS OF ANY COMPANY DISCUSSED HEREIN BASED ON SUCH INVESTORSβ OWN REVIEW OF PUBLICLY AVAILABLE INFORMATION AND SHOULD NOT RELY ON THE INFORMATION CONTAINED HEREIN. INVESTORS SHOULD OBTAIN INDIVIDUAL INVESTMENT ADVICE BASED ON THEIR OWN CIRCUMSTANCES BEFORE MAKING AN INVESTMENT DECISION
No statement or expression of opinion, or any other matter herein, directly or indirectly, is an offer or the solicitation of an offer to buy or sell the securities or financial instruments mentioned.
The author, publisher or insiders of the publisher may currently have long or short positions in the securities of the companies mentioned herein, or may have such a position in the future (and therefore may profit from fluctuations in the trading price of the securities). To the extent such persons do have such positions, there is no guarantee that such persons will maintain such positions.
Any projections, market outlooks or estimates herein are forward looking statements and are inherently unreliable. They are based upon certain assumptions and should not be construed to be indicative of the actual events that will occur. Other events that were not taken into account may occur and may significantly affect the returns or performance of the securities discussed herein. The information provided herein is based on matters as they exist as of the date of preparation and not as of any future date, and Grit undertakes no obligation to correct, update or revise the information in this document or to otherwise provide any additional material.
Grit does not accept any liability whatsoever for any direct or consequential loss howsoever arising, directly or indirectly, from any use of the information contained herein.
By using the Site or any related social media account, you are indicating your consent and agreement to this disclaimer and our terms of use. Unauthorized reproduction of this newsletter or its contents by photocopy, facsimile or any other means is illegal and punishable by law.
Please read: Terms of Use, Privacy Policy, Disclosure Policy, State Disclosure Policy, and Disclaimer Policy
If you have any questions please contact us at [email protected]
Reply