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Why Morgan Stanley Analysts Doubled Apple iPhone Predictions


Apple entered the AI game last month with Apple Intelligence, a suite of new features designed to bring AI straight to iPhone, iPad, and Mac screens. Apple’s AI has a catch though: it only works on the newest iPhones and it could be the reason why millions of iPhone users with older models seriously think about upgrading, say Morgan Stanley analysts.

Morgan Stanley analysts named Apple a top-pick stock on Monday, after which Apple shares jumped to an all-time high, per Bloomberg. Apple Intelligence is a “clear catalyst” for iPhone upgrades and will enable Apple to sell nearly half a billion iPhones in the next two years, analyst Eric Woodring stated.

Apple Intelligence is expected to come out this fall for the iPhone 15 Pro and 15 Pro Max — older iPhones will not have access to Apple’s AI. The update offers AI-generated emojis, a smarter Siri, and direct access to ChatGPT, though some anticipated Siri AI upgrades may arrive next year.

Related: Apple Is Expanding What The iPhone Can Do. Here’s What’s Changing Right Away.

“We believe that there is record level of pent-up demand entering the iPhone 16 cycle later this year,” Woodring noted, adding that Apple Intelligence delivers “unique-to-the-Apple-ecosystem” value.

Morgan Stanley previously forecasted that Apple would sell around 230 million iPhones in the same time frame, making the new prediction more than double the previous one.

Apple is also uniquely positioned to be the AI “base camp” for its customers, “just as it has done for digital content (iPod) and social media (iPhone),” wrote Morgan Stanley analyst Ananda Baruah.

Apple CEO Tim Cook waves to customers before they enter Apple’s 5th Avenue store. (Photo by Drew Angerer/Getty Images)

Other analysts at different firms have made similar predictions. Wedbush Securities analyst Dan Ives told Reuters in June that more than 15% of existing iPhone users could buy the new iPhone Apple is expected to release this fall.

Related: Apple Labels These 3 Iconic Products ‘Vintage,’ and Soon-to-Be ‘Obsolete’

Ives estimated that 270 million iPhone users have not bought a new model in the past four years.

More than half of Apple’s overall revenue in the second quarter of 2024 came from iPhones; Apple has the majority of the market share for smartphones in the U.S.

At the time of writing, Apple was the largest company in the world with a $3.584 trillion market cap. Microsoft, Nvidia, Google, and Amazon followed.

Related: Warren Buffett Had to Work From His iPhone After Telephone Lines Went Down at Berkshire Hathaway: ‘I’m Glad We Didn’t Sell All of Our Apple’



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Fully Promoted Franchises are the Worlds Largest Providers of Promotional Products!


3 Benefits of Owning a Fully Promoted Franchise:

  1. Access to a proven business model with a global network and mass purchasing benefits.
  2. Comprehensive training and ongoing support, including demographic studies and marketing strategies.
  3. Diversified revenue streams from a variety of marketing tools and branded products.

Fully Promoted is a franchise specializing in branded products and marketing services, renowned as the largest company in its niche and recognized repeatedly in Entrepreneur’s Franchise 500 rankings. Click Here to learn more about Fully Promoted.

Key Facts:

  • Minimum Initial Investment: $103,257 – $353,186
  • Initial Franchise Fee: $49,500
  • Liquid Capital Required: $49,500
  • Veteran Incentives: 20% off franchise fee



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Mirage Casino Giving Away $1.6 Million Before It Closes


The famed Las Vegas Mirage Hotel and Casino is set to close for good on July 17, but gambling fans have one last chance to score big before the shiny doors shutter forever.

Since July 9, the Mirage has been giving out over $1.6 million in cash through a giveaway called the “Progressive Finale Cash Giveaway” for the casino to pay out its jackpots before closing as required by Nevada gambling regulations.

Related: An Iconic Las Vegas Casino Is Shuttering This Summer After 34 Years

Patrons can win up to $1.2 million through slot machine prizes and $400,000 in table games through July 16.

But videos across social media show that the giveaway is going about as well as you’d expect. Excited gamers have flocked to the casino to score a slice of the pie, leading to chaos and several fights on the casino floor.

@vegasstarfish Chaos and fights break out at Mirage Hotel & Resort Prepares to close permanently. All progressive jackpots must be paid prior to July 17th and random cash drawings are being given to any guest playing. This has caused huge lines, unhappy patrons, physical fights & exhausted employees. All animals at Mirage have been rehomed in anticipation of the Hard Rock renovation, Beatles Love by Cirque Du Soleil has shuttered and now all that remains are some additional funds to distribute. Add this to your list of places to avoid when visiting Las Vegas. #vegas #lasvegas #vegasstarfish #jackpot #giveawayalert #vegasnews #miragelasvegas #vegashotels #vegaslocal #vegasexperience #thingstodoinvegas #creatorsearchinsights #vegasonabudget #vegasvacation #vegasplanning #vegaswins ♬ Epic News – DM Production

According to Vital Vegas, the Mirage was only operating 400 machines as of Friday afternoon and shut all other machines to “end the progressive meters calculating and audit the numbers in order to properly give all the money away.”

The Mirage, part of the Wynn brand, opened in 1989 and was one of the first luxury resorts to open on the Strip. It was also the original home of the Siegfried & Roy show.

Related: Lisa Vanderpump Is Not Leaving Las Vegas, Opening New Venues

The hotel announced in May that it would be shuttering this summer. It’s set to rebrand to the Hard Rock Las Vegas, and the company will pay $80 million in severance packages to laid-off Mirage employees.

“Over the next two months we will bid farewell to this iconic and historic property and then we will commence an incredible transformation,” a notice posted to the Mirage’s official Facebook page read at the time. “We would like to thank all team members at The Mirage for their incredible commitment and helping us provide memorable experiences for our guests.”





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How to Start a Business This Weekend: AppSumo CEO Noah Kagan


Noah Kagan shared how he started AppSumo, a “Groupon for software,” in one weekend in a new podcast episode. The startup cost was $60; AppSumo earned $80 million last year and Kagan is still its CEO.

In 2010, Kagan was 28 years old and had already experienced what it was like to be the 30th employee at Facebook and the fourth employee at personal finance app Mint.

“I think I just felt insecure at some of these places,” Kagan told fellow entrepreneur Jeff Berman in a June episode of the “Masters of Scale” podcast.

Kagan was fired after nine months at Facebook by Mark Zuckerberg and later fired from Mint, too. He realized that dedicating his time to his day job carried a risk — another person could decide to let him go at any time.

Related: The Author of ‘Million Dollar Weekend’ Says This Is the Only Difference Between You and the Many ‘Very, Very Dumb People’ Making a Lot of Money

“I think I wanted to prove that I’m smart or prove that I’m successful or prove that Facebook when they fired me, and then when Mint fired me, [that] I can do it,” Kagan said.

The idea for AppSumo, a marketplace of software deals for small business owners or solopreneurs, was born when Kagan thought there was a way to promote software tools and also get paid for it. He saw that the site MacHeist gave Apple users discounts on software bundles and wanted to try making the same type of discounts available to a broader audience.

“My interest was letting the geniuses create software, and my skill and my excitement is promotion,” Kagain said.

The business came together in about 60 hours. First, Kagan found software he wanted to sell: the image-sharing service Imgur. He cold-emailed Imgur’s founder on Reddit and got approval to sell a discounted version in exchange for a cut of sales.

Related: Here’s Why Reddit Turned Down an Acquisition Offer From Google in Its Early Days, According to Cofounder Alexis Ohanian

The next piece was meeting with Reddit’s founding engineer to ask for free advertising. He got that too.

The final part was paying a developer to create a website with a PayPal button and purchasing the AppSumo.com domain name.

What was the total cost to launch the business? $60 and one weekend of his time.

AppSumo made $300,000 in the first year, and $3 million in the second, Kagan said in the podcast. It brought in $80 million in revenue last year.

Kagan now has a net worth of $36 million.

Kagan said that the crucial part of business was being invested in the problem and getting excited about it.

Related: This Flexible Side Hustle Is Helping Millions Earn Extra Cash — and Might Be ‘More Attractive’ Than an Office Job

“I think that’s the thing in business people are kind of missing out,” Kagan said. “They’re chasing AI now or chasing being an influencer. I think find areas [where] you’re like, I don’t know if I’m going to ever get tired of this.”

Starting a side hustle or finding an extra source of income has an upside — according to Kagan, you have more control over your future.

“If you can just give up 30 minutes a week, if you can just give up one Netflix show a week, if you can give up one thing a week, and you keep doing it weekly, eventually you can have that business,” he said.

Related: This Is the Winning Formula for Starting a Successful Podcast, According to a New Analysis



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Nearly 50% of Parents Have Started Side Hustles: Survey


Side hustles are soaring as Americans take on second jobs to be able to afford the normal stuff.

According to a new survey, one group in particular is feeling the crunch of rising inflation and home prices, and taking on extra work in response.

Bankrate released its side hustle survey on Wednesday and found that more than one in three U.S. adults make extra money with a side gig, like a weekend job or freelance work.

The survey noted that parents of children ages 18 and under are turning to side hustles more often than those without children or those with older kids.

Related: This Mom Started a Side Hustle on Facebook — Now It Averages $14,000 a Month and She Can ‘Work From a Resort in the Maldives’

“Many Americans are still finding that one job isn’t enough,” Bankrate Senior Industry Analyst Ted Rossman stated. “The cost of living has risen sharply in recent years.”

Nearly half (45%) of parents with kids younger than 18 have a side hustle compared to 36% of childless adults and 28% of parents with adult children.

The average monthly side hustle income is $891 per month and the majority of Americans with side hustles (52%) have only been at it for less than two years. They’re likely using the money to pay bills, build their savings, or for discretionary spending.

Related: This 26-Year-Old’s Side Hustle That ‘Anybody Can Do’ Grew to Earn $170,000 a Month. Here’s What Happened When I Tested It.

“My schedule is mayhem,” 41-year-old Jordan Chussler, parent to a 5-year-old daughter and editor of a financial publication, told Marketwatch.

His daughter’s private school bill is $10,600; inflation has brought household expenses up for his family across the board. Chussler works during his lunch break and at night, as a freelancer and at restaurants, to make ends meet.

Chussler and his wife make about $165,000 combined at their main jobs; Chussler takes on extra jobs throughout the year to bring their combined income closer to $200,000 for more financial security.

He puts the extra money from side hustles into a Roth IRA and his daughter’s education fund.

Related: He Turned His High School Science Fair Project Into a Product That Solves a $390 Billion Problem: ‘This Has Not Been Done Before’



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Nvidia Is Becoming the IBM of AI, Says Former Apple Engineer


Jim Keller, an engineer who has worked at AMD, Apple, and Tesla and is now CEO of an AI chip startup taking on Nvidia, says that Nvidia is “becoming the IBM of the AI era.”

On a Sunday podcast episode of DemystifySci, Keller brought up Nvidia’s AI chips and called attention to companies like Microsoft and Google that are using Nvidia’s technology to power their own innovations.

“All the big tech companies are in an arms race and they’re all calling Nvidia,” Keller said.

Related: Nvidia CEO Jensen Huang Turned Down a Merger Offer in the Company’s Early Days, According to Insiders. Here’s Why.

Keller, who now leads the $2 billion AI chip startup Tenstorrent, which has funding from Samsung and Hyundai, stated that Nvidia currently has “the best processors by functionality.”

He then said that Nvidia is “slowly becoming the IBM of the AI era,” adding, “We’ll see how that goes. I run an AI tech company so I have opinions about that too.”

Jim Keller, chief executive officer of Tenstorrent. Photographer: SeongJoon Cho/Bloomberg via Getty Images

Nvidia is now the industry leader for AI chips, with over 80% of the market share. It benefits from a first-mover advantage in AI computing; Nvidia claims to have started investing in AI and machine learning development starting in 2006.

Related: Employees Who Worked at This Company for the Past 5 Years Are Now Multi-Millionaires in ‘Semi-Retirement’

IBM, too, could be considered a first mover in the PC market. Though IBM did not invent the PC, the company’s 1981 personal desktop opened computers up to a broader audience and generated $1 billion in revenue in its first year.

IBM “set a technology standard” with its first PC, according to IEEE Spectrum.

Keller has previously weighed in on the cost of AI chips, both from Nvidia and from ChatGPT-maker OpenAI, which currently uses Nvidia’s chips. He claimed in April that Nvidia could have cut research and development costs and in February that he could build AI processors for all workloads and AI companies at one-eighth of the cost suggested by OpenAI CEO Sam Altman.

Nvidia CEO Jensen Huang said in March that its next-generation AI chip would cost more than $30,000.

Related: Here’s How Much Investing $10,000 in Nvidia When It Went Public Would Be Worth Now



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AI Marketing Secrets: 3 Game-Changing GPT-4 Use Cases to Make Money with AI


Tackle AI’s toughest questions with Ben Angel, mapping the business terrain for 20 years. Master the AI landscape and reach peak productivity and profits with insights from his latest work, “The Wolf is at The Door — How to Survive and Thrive in an AI-Driven World.” Click here to download your ‘Free AI Success Kit‘ and get your free chapter from his latest book today.



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Apple Likely Rolling Out Best Siri AI Features in 2025: Report


Though Apple announced some sweeping AI changes to Siri at its WWDC event last month, it’s been unclear when these changes will reach iPhone screens. But a new report from Bloomberg chief correspondent Mark Gurman clarifies the timeline.

Gurman, who has an 86.5% accuracy rate on the Apple information he has leaked in the past, wrote in his Sunday Power On newsletter that though Apple Intelligence AI will come out this fall, the most important Siri updates will arrive next spring.

This includes Siri accessing and working with other Apple apps based on a simple command. For example, when asked, “Hey Siri, what’s my driver’s license number?” Siri will soon be able to go through the Photos app, find a picture of the license plate, and even be able to put the numbers in a web form.

Related: Apple Is Reportedly Eyeing the Home Robot Space After Scrapping Its 10-Year Electric Car Project

Another Siri upgrade on lock until next year is Siri understanding context, or being able to interpret what an iPhone user is looking at.

In the fall, Siri will still get supercharged with ChatGPT and get a design makeover, but the voice assistant will lack those key contextual features, according to Gurman.

The Siri update won’t be complete until developers beta test the features starting in January and Apple releases the upgrade publicly in the spring of 2025, per the same report.

A person holds a phone in front of the Siri logo. Photo by Artur Widak/NurPhoto via Getty Images

The Bloomberg report aligns with Apple’s public statements.

Apple noted in its June press release that Apple Intelligence will start rolling out this fall in beta, but “some features, software platforms, and additional languages will come over the course of the next year.” The fine print leaves room for certain features to debut later, after Apple Intelligence’s fall release.

Apple stepped into the AI game nearly two years after ChatGPT was launched but decided to take a more collaborative approach to AI development. Along with creating AI in-house, Apple also chose to integrate ChatGPT directly into its products and open up the doors for AI models from other competitors.

Related: Apple Reportedly Isn’t Paying OpenAI to Use ChatGPT in iPhones

AI could also prompt hundreds of millions of iPhone users with older models to upgrade this fall — Apple Intelligence only works on the newest iPhones.



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Why Mom and Pop Stores Should Never Overlook Their Branding Strategy — And How They Can Outshine Retail Giants


Opinions expressed by Entrepreneur contributors are their own.

When was the last time you entered an establishment, looked around, and thought, “This place is a real mom-and-pop shop!”

Historically, “mom-and-pop stores” were just that: small stores run by someone’s parents as a business that brought in just enough to raise their kids. Looking back a hundred years ago, you might think of a corner grocery, or a little bakery on a back street in town. These days, though, “mom and pop” can apply to any small business — though “small business” itself has expanded drastically to include businesses with up to hundreds of employees. That’s certainly not what most would think of with a mom-and-pop-type store.

At its core, a “mom and pop” endeavor is small, independent, and often family-owned and operated, hence the name. They tend to be local, with a limited audience. Though small stores can flourish in big cities, the mental image that most of us get is that of a small town, with a general store providing goods to loyal customers – many of whom don’t have much choice in where to shop. And while this may be true in small-town America, there are plenty of family-run independents everywhere you go.

But if you know that your little store has a limited audience, to begin with, it begs the question – is branding important for a mom-and-pop store?

The answer is yes. Here’s why.

Related: What Big Brands Can Learn From Mom-and-Pop Stores to Connect with Customers

Fighting the competition

By their very nature, mom-and-pop shops don’t have a lot of resources to draw on. In the era of globalization, this can make it even more difficult for small businesses to keep up.

It’s a fact that the financial state of the average citizen tends to be unstable. Jobs come and go, and the economy seems to be rocking more and more every year. With the rising cost of living, consumers are increasingly searching out cheaper products—and big businesses, outsourcing to other countries for manufacturing, are eager to oblige. If you can get a product online for a fraction of the cost of buying it at a local store, it seems like an obvious choice to make.

Luckily, there are some initiatives that are giving mom-and-pop shops an edge on ecommerce and big business. Small Business Saturday was founded in 2010 to encourage shopping locally; in its wake, hundreds of variations on the theme have popped up in communities across the U.S. Spending money in small local stores has become a point of pride for many, even if they spend more there than they would online.

However, branding still makes a difference for small local businesses, even if they have a limited audience. Part of that is due to the brand personality.

Make it easy to shop local

“Branding” as a whole incorporates a lot of things. It has visual aspects, such as a well-designed logo. Advertisements and campaigns fall under branding, too. However, a mom-and-pop store’s branding strategy emphasizes elements that are more important than your logo.

Think of it this way: branding is the process of introducing your business to your neighbors. Your logo is like telling them your name. But your brand personality is who you really are — not just what a shopper can find at your store, but why they would want to shop there.

A consumer might go to a big-box store for a certain product, but if you offer excellent customer service, they’ll come to your business for you. Customer service as a big part of branding can never be overrated, especially for a localized business that survives and thrives based on connections and loyalty.

Related: How Local Mom and Pop Shops Are Conquering Big Box and E-commerce

Establish your aesthetic with a local touch

This is not to dismiss the visual aspects of branding or imply that these don’t matter. Your logo, as I said, is like telling your neighbors your name. It puts a label, a mental image, in their mind. Every time they see that logo afterward, your business’s reputation will come to the fore — and if it’s associated with a pleasant workforce and a shopping experience they can feel good about, then your branding is working hand in hand.

Investing in your community and participating in local events is an excellent way to market your brand and network with your target audience: your neighbors. Your visual branding works along with your brand personality at these events, too – make sure that your presence, whether at a booth or as a sponsor, is marked with your logo and your company colors to make it clearly identifiable. When your audience sees a logo they recognize, they’re more likely to come looking for faces they recognize, too.

One key point to remember when designing your visual branding is to avoid taking a page out of the big box playbook. While big businesses tend towards more generic marketing to “play it safe” with a broad audience, you have the gift of knowing your audience well. Do what you can to personalize your visual branding to your local area. Logos that include local landmarks or features, business names that include the name of the town or the family who runs the store — anything that ties your business to your area and lets everyone know that you’re at home there will help your store engender loyalty in your community.

A small business like a mom-and-pop store can be challenging to run in today’s environment and economy. But with careful attention to branding—in customer service, in your branded visuals, and in your brand personality—a small store can grow into something truly successful.



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Entrepreneurs Can Get a 1-Year Membership to Sam’s Club for Just $20


Disclosure: Our goal is to feature products and services that we think you’ll find interesting and useful. If you purchase them, Entrepreneur may get a small share of the revenue from the sale from our commerce partners.

Save on everything you need to run your business (and your personal life) when you lock in a one-year Sam’s Club Membership for just $20 through July 7.

Life is expensive, especially for entrepreneurs. When you’re juggling the expenses of your personal life and the ones needed to run your business, it can become a significant drag on your budget. You need to find ways to save, and that doesn’t just mean cutting back on staff or opting for a lesser software subscription. Locking in daily savings is possible when you have a Sam’s Club Membership.

At Sam’s Club, members can access savings on everything they need for their business and personal lives. From office supplies and equipment to groceries, clothing, and much more, Sam’s Club members can peruse the aisles for wholesale prices unmatched by traditional retail. During our version of Prime Day, you can sign up for a one-year membership with auto-renew for just $20.

With this limited-time deal, you’ll get access to the exceptional variety at Sam’s Club, allowing you to save on a variety of products to help your business grow. Not only that, but you’ll also be able to access extra perks like savings on hotels, car rentals, live events, movies, and more.

Need to travel to a new city for a conference? Sam’s Club can help you save. Want to entertain a potential client at an event? You might be able to find a discounted price. No matter what you need, a membership grants you access to quality, convenience, and affordability in a single place. It’s a one-stop solution that simplifies your life and business.

It’s time to elevate your savings strategy with the help of Sam’s Club.

Now through 11:59 p.m. PT on July 7, you can get a one-year Sam’s Club Membership with auto-renew for just $20.

StackSocial prices subject to change.



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