Target Gets Pummeled, F150 Lightning Real-World, Apple Doing Its Thing Again

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On this glorious Thursday we’re covering the continued retail drama as Target reports major Q2 Losses. We also cover a very real-world F-150 Lightning review, as well as Apple’s next big thing. 

• Target’s profit down 90% in Q2 citing major discounting and inflation affected shoppers
  • The environment for Target and similar retailers remains "challenging," CEO Brian Cornell told investors, but he said they are seeing "an encouraging start to the back-to-school" shopping season
  • After 7 straight quarters of growth the last two have been rough. Cornell assured investors by saying "The high-level story is: The vast majority of the financial impact of these inventory actions is now behind us."
  • Target has been hit harder than Walmart since their customers rely on them for more discretionary purchases
  • Take away: Another indicator and validator of the current consumer retail mindset
    
    
    

• A non-auto industry writer’s take on the new E150 is a mixed bag of candid commentary
  • Nilay Patel, Co-Founder of tech publication The Verge recently reviewed the new E150 and it is a very entertaining read that gives a good feel for what an EV truck owner might experience. He even took it to the dump
  • Highlights: comfort, speed, handling, self driving, front storage
  • Lowlights: very slow and confusing interface and os, charging station woes, range inconsistency
    • “The result is that the software experience of the Lightning often feels trapped in the past, with no clear path to the future because Ford’s real software efforts lie elsewhere. The instrument cluster features the same cryptic icons and fundamental menu layout Ford has used in its cars forever. That huge portrait infotainment screen is woefully underutilized and the menu layout can feel like a randomly generated maze with no destination.”
  • Note: Ford is working with Google to launch an Android powered OS sometime next year
  • Take away: For real, read this article, it will help you empathize and understand the potential CX with EVs
    
    
    
• Bloomberg reports that Apple Inc. is aiming to hold a launch event on Sept. 7 to unveil the iPhone 14 line, according to people with knowledge of the matter, 
  • New phone, Macs, high and low end iPads, as well as a new rugged Apple Watch are expected
  • Typically the announced new products are available for purchase about a week later and this looks to be the trend as Apple employees have been instructed to be ready for a launch the week of Sept 16th
  • The most significant iPhone 14 Pro changes will be to the camera system, which will appear slightly larger to consumers. The Pro models will gain a 48-megapixel wide-angle camera alongside 12-megapixel ultrawide and telephoto sensors. Apple is also planni

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