“When markets are bullish on AI, Apple looks like an old-timer who can't keep up with the times. When markets are bearish on AI, Apple plays the safety trade and looks genius. If you are AGI-pilled, it's insane that the world's most iconic company isn't investing loads of money in AI. If you're not AGI-pilled, it's a genius move to sit back and let people subscribe on their Apple hardware.”

…of course, we are leading into the most important quarter for the year. So it could be a major problem, but honestly, it might just be basically over with. They could have very well fixed the supplier issue at this point. And at the end of the day, maybe it's only a few dozen units and we move on.

…very directly. What do you make of that decision at this point? I mean, we know how much money all these other guys are spending on AI, hundreds of billions of dollars by Meta, Google, Microsoft, all of these players. Apple's not spending seemingly anything on CapEx. Is that the right move? You

One of my struggles with Apple, I mean, it's done incredibly well this year. It's up more than 20% year to date. It's crushing all of the other big tech names. It's also very expensive. It's trading at 36 times forward earnings, which is by far the most expensive of the big tech companies, despite…

It's funny. I think journalists have been asking Apple this question since around 2012. And I think they've basically been wrong the whole time. I mean, Apple sort of realizes that the six-inch rectangle in everyone's pocket that they stare at for four to six hours per day is the thing. There is no…

Patrick McGee is an award-winning journalist and author of Apple in China. Patrick, we appreciate your time. Thanks, Ed. We're recording this episode Tuesday evening. So that is before the midterm election results are out. Obviously, this episode airs on Wednesday. So unfortunately, we will not…