There were years when Apple would release a new iPhone that didn’t feel like a huge advancement, but sales were off the charts anyway. This year, we’re seeing signals that maybe, just maybe, people won’t be rushing to buy the new iPhone 8. Shares in some suppliers have fallen 10 percent or more since the end of August, particularly after an analyst predicted that pre-orders for the iPhone 8 were “substantially lower” than for previous new models. Customers could be waiting for the X model instead. Or, Bloomberg’s Alex Webb notes, people could just be ordering online or through the company’s upgrade program. The latest line of products has had so-so reviews. Investors could be cashing out.
Oil is back to around $50 a barrel from a high of over $100? You wouldn’t know it from the Permian Basin. The area described by Dan Murtaugh as “the hottest oil patch anywhere on Earth” is still thriving. The average sale price of a new home in the metro area of Midland rose 8.5 percent in a year, while the number of active rigs has more than doubled since May 2016, Murtaugh reports. Oil workers and executives who have lived through many cycle busts are nervous that another one is just around the corner.