Apple Valuation Surpasses $3 Trillion
Apple returned to form on Friday as it eclipsed a $3 trillion valuation. Back in January 2022, it became the first company in history to surpass the milestone. However, in that incident, the stock price fell during trading and it did not close out the day. As of 4:00 PM EDT, it remains at $194 per share. Due to a string of positive events — including the unveiling of its much anticipated Apple Vision Pro — Citi estimated that the company looks to continue on a positive trajectory, projecting an end-of-year stock price to approach $240 per share, which would result in a $3.8 billion Apple market cap.
A’ja Wilson is Doubling Down on The Aces with Extension
A’ja Wilson is going all in with the Las Vegas Aces. The two-time WNBA MVP inked a two-year extension with the team. The 26-year-old superstar is pulling together another impressive campaign, averaging 19.4 points and nine rebounds per game. The team’s GM Natalie Williams confirmed the news on Friday, saying: “A’ja Wilson is a generational talent and a huge foundational piece to our team and organization.” Wilson led the Aces to a 98-81 victory in the superteam’s first match-up against Breanna Stewart and the New York Liberty.
Juvenile Delights Fans with Tiny Desk Concert
Ask and you shall receive. That is what Twitter fans learned this week, as they were treated to an uncharacteristically long 28-minute set from New Orleans titan Juvenile as part of NPR’s iconic ‘Tiny Desk Concert’ series. The show all started back in April when someone made the request. At the time, Juvenile responded,”wtf is tiny desk and no.” He then challenged that if he got 10,000 retweets, he would do the gig. In an amazing case of “how it started, how it’s going,” the rapper showed up at the Washington, DC studio, rolling deep with a full band, including his producer Mannie Fresh, and put a 10-song set culminating in the iconic, “Back That Azz Up.” The recording capped NPR’s celebration of Black Music Month.
Nike Earnings Dip for the First Time Since 2020
Nike‘s quarterly earnings showcased a mixed bag of results, with revenue exceeding expectations but earnings falling below for the first time in three years. Reported net income for the quarter that ended May 31 was $1.03 billion — 66 cents per share, falling shy of the expected 67 cents per share. The net income year over year (YoY) was down from 90 cents per share; perhaps why Nike is bringing back the Kobe brand later this year. For the full fiscal year, revenue exceeded $50 billion for the first time in company history at $51.2 billion, up 10% YoY and higher than the $50.99 billion expectation.
Jalen Rose, Jeff Van Gundy Among Those Impact in ESPN Layoff
Friday marked a dark day in Bristol, Connecticut. ESPN unveiled the names of those impacted by its most recent layoff, which targeted big-name talent. Basketball analyst Jalen Rose, NFL sideline icon Suzy Kolber, and NBA play-by-play staple Jeff Van Gundy were each impacted. Steve Young is also reportedly out at the network, ending his 22-year run as an NFL analyst. The layoffs come as part of broader cost-saving efforts at ESPN’s parent company, Disney.
Logic Secures Eight-figure Deal for Entire Catalog
Logic has secured a mighty big bag. The rapper unveiled that he sold his entire catalog to Influence Media Partners. The deal includes includes 185 titles, and was worth a reported “eight figures,” according to an official statement. As part of the announcement, Influence Media Partner Rene McLean said, “Logic has made a tangible impact not only on the music charts, but on culture, and his commitment to destigmatizing and raising awareness around mental health issues is admirable. Influence Media is proud to partner with Logic to ensure his powerful body of work is heard for generations to come.”