📬 Daily Brief: Apple sours

📬 Daily Brief: Apple sours

Good morning, Quartz readers!

Here’s what you need to know

Trump Media stock plunged after the company revealed a $58 million loss. The disclosure came less than a week after the social media company founded by former President Donald Trump debuted on the Nasdaq under the ticker DJT.

UPS is becoming the primary air carrier of the United States Postal Service. As if differentiating between USPS and UPS wasn’t already hard enough.

United Airlines wants pilots to take unpaid time off because of Boeing’s delayed planes… The news comes less than a month after United told its pilots that it would be initiating a hiring freeze due to the delays.

…meanwhile, McKinsey is paying its employees to look for other jobs. The consulting agency is giving staffers nine paid months to find another gig.

Apple is worrying analysts: By the digits

What happens when you mix tough antitrust scrutiny with slower iPhone sales? A stock that’s down almost 9% year to date and Wall Street analysts that are starting to re-evaluate their bets.

That’s what is happening to Apple, which is slowly looking less and less like a magnificent stock.

$170: Target price one Wall Street analyst cut Apple’s stock to, down from $180

24%: Year-over-year decrease in iPhone sales in China for the first six weeks of 2024

2016: The last year Apple’s revenue and earnings per share dropped

Here’s what else analysts are saying.

Home buying is increasingly a six-figure salary ordeal

Americans need an even heftier salary to be able to afford a house in almost half the country.

We’ve got some more numbers for you to mull on:

$402,343: A median-priced home in the U.S.

22: States in the U.S. where homebuyers need a six-figure salary to afford that

$110,871: Average annual income needed to buy a home

50%: Increase in the minimum income requirements since 2020

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Our best wishes for a productive day. Send any news, comments, Mars river kayaks, and convection oven recipes to talk@qz.com. Today’s Daily Brief was brought to you by Morgan Haefner.

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