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Apple 2025 Plans: iPhone 17, Smart Home Hub, iOS 19, AI, Apple Watch, iPads, M5 - Bloomberg

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href="https://www.bloomberg.com/opinion/?utm_source=bloomberg-menu&amp;utm_medium=bcom" data-element="tophat-link" data-description="Bloomberg Opinion" data-label="bcom" tabindex="0">Bloomberg Opinion</a></li><li class="bb-that-category__item"><a class="bb-that-category__link" href="https://www.bloomberg.com/businessweek/?utm_source=bloomberg-menu&amp;utm_medium=bcom" data-element="tophat-link" data-description="Bloomberg Businessweek" data-label="bcom" tabindex="0">Bloomberg Businessweek</a></li><li class="bb-that-category__item"><a class="bb-that-category__link" href="https://www.bloomberglive.com/?utm_source=bloomberg-menu&amp;utm_medium=bcom" data-element="tophat-link" data-description="Bloomberg Live Conferences" data-label="bcom" tabindex="0">Bloomberg Live Conferences</a></li><li class="bb-that-category__item"><a class="bb-that-category__link" href="https://www.bloombergradio.com/?utm_source=bloomberg-menu&amp;utm_medium=bcom" data-element="tophat-link" 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id="that-list--support--20" class="bb-that-category__title">Support</h3><div class="bb-that-category__content"><p class="bb-that-category__text"><span>Americas</span>+1 212 318 2000</p><p class="bb-that-category__text"><span>EMEA</span>+44 20 7330 7500</p><p class="bb-that-category__text"><span>Asia Pacific</span>+65 6212 1000</p></div></section> </li> </ul> <button class="bb-that__close" aria-label="Close" tabindex="0"></button> </div> </nav> </div> <div id="that-jump-content--default" tabindex="-1"></div> <div class="NavAndContextualNav_nav__hp3Vb" style="top:0px"><div><nav class="media-ui-Nav_navContainer-hjs68ExRvE4- nav" data-component="nav"><div class="media-ui-Nav_desktop-H4T7bcdLqpc-"><div class="media-ui-LogoBar_logoBarContainer-zT2Vdyxa9hk- media-ui-LogoBar_dark-q7Ouy-DICYc- logo-bar" data-component="logo-bar"><div class="media-ui-LogoBar_bar-dkILEe-ptTg- Nav_navDesktop__I7aMT"><div class="media-ui-Logo_dark-8-AT52-hX7Q-" aria-label="logo" data-component="logo"><a href="/" 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https://assets.bwbx.io/images/users/iqjWHBFdfxIU/ihbwBrS27_7o/v1/1280x853.webp 1280w, https://assets.bwbx.io/images/users/iqjWHBFdfxIU/ihbwBrS27_7o/v1/1400x933.webp 1400w, https://assets.bwbx.io/images/users/iqjWHBFdfxIU/ihbwBrS27_7o/v1/1800x1200.webp 1800w, https://assets.bwbx.io/images/users/iqjWHBFdfxIU/ihbwBrS27_7o/v1/2000x1333.webp 2000w" sizes="(min-width: 1px) and (max-width: 619px) 400px, (min-width: 620px) and (max-width: 759px) 600px, (min-width: 760px) and (max-width: 1019px) 800px, 1200px" loading="eager" alt="Apple event in 2024." fetchpriority="high"/></div></button><figcaption class="media-ui-Caption_wrapper-PwDP2GCdS5Y-" data-component="caption" data-testid="caption"><span class="media-ui-Caption_caption-KKcpFT8qLQg-"><p>Apple event in 2024.</p></span><span class="media-ui-Caption_credit-wcEX9fml84M-">Photographer: David Paul Morris/Bloomberg</span></figcaption></figure></div></div></div><div class="gridLayout_leftContent__rFf_1"><div 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All Rights Reserved.</span></div></div></div></div></div></div></div></div><script id="__NEXT_DATA__" type="application/json">{"props":{"pageProps":{"story":{"abstract":[],"archived":false,"adTargeting":{"adCode":"newsletter/power-on","suid":"SPZ84LT1UM0W00","page":"newsletter_campaign","currentResource":null,"ni":["BUSINESS","EQUITYKEY","ITSVC","LIFESTYLE","LUXWATCH","SOF","TEC"],"tagr":[],"kwl":["biz_generic","biz_apple","biz_saudiaramco","biz_ibm2","biz_vacheron_2021","biz_rolex","biz_vac2022","biz_eyemea2023","biz_googlebrandsafety","biz_workday24","biz_ubsfeb2024","biz_alliancebernstein","biz_workday2024","biz_chase_keyword_exclusion_list_1","biz_mercuryjuly_aug_2024","biz_att24","biz_election2024_inv","biz_chanel102124","biz_richemont","biz_googlenov24","biz_chaseunitedcard25","biz_jpm2025"],"sites":["technology","bbiz","power-on"],"__typename":"AdTargeting","tr":["trigron","silveru","jpyu","daxd","hsid","jpyd","nkyd","sqdaxd","twcomd","legatruutest","testblend","teston","ipos","bull","econgrwth","mutfunds","globaltrade","tradewars","Earnings","bonds","investmgmt","debt","crypto","Infrastructure","rty_down","ccmp_down","indu_down","gsbitcoinetf","DTEST","isharesbetfdown","iSharesBitcoin","krbt"],"record":"apple","isWeekend":false},"assistance":null,"attributor":"web-original","authoredRegion":"Global","authors":[{"id":"19842959","editorialBoard":false,"bio":"","name":"Mark Gurman","twitter":"markgurman","profileSlug":"19842959-mark-gurman","slug":"AS7Hj1mBMGM/mark-gurman","thumbnail":{"alt":" ","caption":null,"credit":null,"height":160,"id":"401887898","origHeight":2000,"origWidth":2000,"size":null,"title":" ","type":"image","url":"https://assets.bwbx.io/images/users/iqjWHBFdfxIU/i1m0tKl_t5Xo/v1/piUjdcePl62Og/160x160.jpg","width":160,"themes":null,"__typename":"Image"},"photoDisplayed":true,"roles":["by","author"],"__typename":"Person","profileUrl":"AS7Hj1mBMGM/mark-gurman"}],"audios":[],"body":{"type":"document","content":[{"type":"inline-newsletter","data":{"position":"top"},"content":[]},{"type":"paragraph","data":{},"content":[{"type":"text","value":"Apple plans a loaded 2025, with plans for an overhauled iPhone line, new AI features, a "},{"type":"entity","subType":"story","data":{"story":{"identifiers":{"suid":"SMNI6WT0G1KW"}},"link":{"data-web-url":"https://www.bloomberg.com/news/articles/2024-11-12/apple-home-hub-detailed-apple-intelligence-homeos-square-ipad-like-design","href":"bbg://news/stories/SMNI6WT0G1KW","itemprop":"StoryLink","itemscope":"itemscope","target":"_blank","webUrl":"https://www.bloomberg.com/news/articles/2024-11-12/apple-home-hub-detailed-apple-intelligence-homeos-square-ipad-like-design","destination":{"web":"https://www.bloomberg.com/news/articles/2024-11-12/apple-home-hub-detailed-apple-intelligence-homeos-square-ipad-like-design","bbg":"bbg://news/stories/SMNI6WT0G1KW"}}},"content":[{"type":"text","value":"smart home push"}],"meta":{"suid":"SMNI6WT0G1KW","type":"StoryLink"}},{"type":"text","value":" and updates to products it hasn’t refreshed in a while. Also: The company’s latest CFO takes the job; new stores in "},{"type":"link","data":{"data-web-url":"https://www.bloomberg.com/news/articles/2023-06-01/where-is-apple-opening-new-stores-shanghai-new-delhi-london-miami-paris?sref=9hGJlFio","href":"bbg://news/stories/RVL6Z4DWRGG0","itemprop":"StoryLink","itemscope":"itemscope","target":"_blank","webUrl":"https://www.bloomberg.com/news/articles/2023-06-01/where-is-apple-opening-new-stores-shanghai-new-delhi-london-miami-paris?sref=9hGJlFio","destination":{"web":"https://www.bloomberg.com/news/articles/2023-06-01/where-is-apple-opening-new-stores-shanghai-new-delhi-london-miami-paris?sref=9hGJlFio","bbg":"bbg://news/stories/RVL6Z4DWRGG0"}},"content":[{"type":"text","value":"Miami and China"}]},{"type":"text","value":" are opening; and Dell shamelessly "},{"type":"link","data":{"data-web-url":"https://www.bloomberg.com/news/articles/2025-01-06/dell-rebrand-of-pcs-echoes-apple-naming-conventions","href":"bbg://news/stories/SP0EJQDWRGG0","itemprop":"StoryLink","itemscope":"itemscope","target":"_blank","webUrl":"https://www.bloomberg.com/news/articles/2025-01-06/dell-rebrand-of-pcs-echoes-apple-naming-conventions","destination":{"web":"https://www.bloomberg.com/news/articles/2025-01-06/dell-rebrand-of-pcs-echoes-apple-naming-conventions","bbg":"bbg://news/stories/SP0EJQDWRGG0"}},"content":[{"type":"text","value":"copies Apple’s playbook"}]},{"type":"text","value":" in major PC rebrand."}]},{"type":"paragraph","data":{},"content":[{"type":"text","value":"Last time in "},{"type":"text","value":"Power On","attributes":{"emphasis":true}},{"type":"text","value":": Apple explores a "},{"type":"link","data":{"data-web-url":"https://www.bloomberg.com/news/newsletters/2024-12-22/apple-explores-amazon-ring-doorbell-competitor-with-face-id-airpods-heart-rate-m516vbik?srnd=undefined","href":"bbg://news/stories/SOWC45T0G1KW","itemprop":"StoryLink","itemscope":"itemscope","target":"_blank","webUrl":"https://www.bloomberg.com/news/newsletters/2024-12-22/apple-explores-amazon-ring-doorbell-competitor-with-face-id-airpods-heart-rate-m516vbik?srnd=undefined","destination":{"web":"https://www.bloomberg.com/news/newsletters/2024-12-22/apple-explores-amazon-ring-doorbell-competitor-with-face-id-airpods-heart-rate-m516vbik?srnd=undefined","bbg":"bbg://news/stories/SOWC45T0G1KW"}},"content":[{"type":"text","value":"Face ID doorbell and lock device"}]},{"type":"text","value":" in expanding smart home push. "}]},{"type":"paragraph","data":{},"content":[{"type":"text","value":" "}]},{"type":"heading","data":{"level":2},"content":[{"type":"text","value":"The Starters"}]},{"type":"media","subType":"photo","data":{"identifiers":{"avmmId":422920540},"remoteContent":[{"link":{"destination":{"bbg":"http://resource.bloomberg.com/images/422920540","web":"https://assets.bwbx.io/images/users/iqjWHBFdfxIU/ijA2aaw5zZk0/v1/-1x-1.webp"}},"rendition":"highres"}],"photo":{"align":"center","class":"rendered","data-align":"center","data-id":"422920540","data-image-size":"column","data-image-type":"photo","data-type":"image","style":"display:inline-block","id":422920540,"imageSize":"column","imageType":"photo","type":"image","src":"https://assets.bwbx.io/images/users/iqjWHBFdfxIU/ijA2aaw5zZk0/v1/-1x-1.webp","alt":"Apple Holds Product Unveiling Event","caption":"Apple Chief Executive Officer Tim Cook at the September 2024 iPhone event.","credit":"Photographer: David Paul Morris/Bloomberg"},"attachment":{"alt":"Apple Holds Product Unveiling Event","caption":null,"credit":null,"height":1331,"id":"422920540","origHeight":1331,"origWidth":2000,"size":null,"title":"Apple Holds Product Unveiling Event","type":"image","url":"https://assets.bwbx.io/images/users/iqjWHBFdfxIU/ijA2aaw5zZk0/v1/-1x-1.webp","width":2000,"themes":null,"__typename":"Image"}}},{"type":"paragraph","data":{},"content":[{"type":"text","value":"Apple is kicking off an ambitious 2025, with a considerable number of new products, major advances in its custom silicon and a fresh push into the smart home. "}]},{"type":"ad","data":{"num":1,"pageId":"newsletter_campaign"},"content":[]},{"type":"paragraph","data":{},"content":[{"type":"text","value":"The company will update products it hasn’t touched in years — like the iPhone SE, Apple TV, HomePod and Mac Pro — and enter a new device category. It’s also redesigning the iPhone for the first time in half a decade, all while trying to convince consumers and Wall Street that it’s now a leader in artificial intelligence. "}]},{"type":"paragraph","data":{},"content":[{"type":"text","value":"Even so, it’s likely that 2025 is ultimately remembered as a stepping stone toward more revolutionary products — rather than a year of remarkable innovation. 2025 will set the stage for future years of advancements in mixed reality, smart home accessories and foldable devices."}]},{"type":"paragraph","data":{},"content":[{"type":"text","value":"I expect the wave of new products to come relatively soon, starting with versions of the 13-inch and 15-inch MacBook Air. The "},{"type":"link","data":{"data-web-url":"https://www.bloomberg.com/news/articles/2024-10-23/apple-makes-headway-on-m4-macbook-air-and-plans-new-low-end-ipad","href":"bbg://news/stories/SLRUYGDWRGG0","itemprop":"StoryLink","itemscope":"itemscope","target":"_blank","webUrl":"https://www.bloomberg.com/news/articles/2024-10-23/apple-makes-headway-on-m4-macbook-air-and-plans-new-low-end-ipad","destination":{"web":"https://www.bloomberg.com/news/articles/2024-10-23/apple-makes-headway-on-m4-macbook-air-and-plans-new-low-end-ipad","bbg":"bbg://news/stories/SLRUYGDWRGG0"}},"content":[{"type":"text","value":"laptop models"}]},{"type":"text","value":" — code-named J713 and J715 — are already in production overseas and will include the M4 chip that’s in the MacBook Pro and iMac."}]},{"type":"media","subType":"photo","data":{"identifiers":{"avmmId":423151320},"remoteContent":[{"link":{"destination":{"bbg":"http://resource.bloomberg.com/images/423151320","web":"https://assets.bwbx.io/images/users/iqjWHBFdfxIU/i7Qo.shLTEp0/v1/-1x-1.webp"}},"rendition":"highres"}],"photo":{"align":"center","class":"rendered","data-align":"center","data-id":"423151320","data-image-size":"column","data-image-type":"photo","data-type":"image","style":"display:inline-block","id":423151320,"imageSize":"column","imageType":"photo","type":"image","src":"https://assets.bwbx.io/images/users/iqjWHBFdfxIU/i7Qo.shLTEp0/v1/-1x-1.webp","alt":"Apple Opens New Store in South Korea ","caption":"Apple MacBook Pro and Air laptops.","credit":"Photographer: SeongJoon Cho/Bloomberg"},"attachment":{"alt":"Apple Opens New Store in South Korea ","caption":null,"credit":null,"height":1333,"id":"423151320","origHeight":1333,"origWidth":2000,"size":null,"title":"Apple Opens New Store in South Korea ","type":"image","url":"https://assets.bwbx.io/images/users/iqjWHBFdfxIU/i7Qo.shLTEp0/v1/-1x-1.webp","width":2000,"themes":null,"__typename":"Image"}}},{"type":"paragraph","data":{},"content":[{"type":"text","value":"One lingering question with the MacBook Air is what happens with the current models. Right now, Apple sells an M3 version at $1,099 and the 2022 M2 models for $999. Since there have been manufacturing challenges with the M3 chip — and the M2 is still in production — I could see a scenario with the M4 replaces the M3 models and the M2 variants stick around."}]},{"type":"paragraph","data":{},"content":[{"type":"text","value":"With the MacBook Air out the gate, Apple will turn its attention in the spring to its iOS products. On the list: an iPhone SE replacement code-named V59, a low-end iPad, new iPad Air models, and lower-tier iPad Magic Keyboards dubbed R307 and R308."}]},{"type":"paragraph","data":{},"content":[{"type":"text","value":"The "},{"type":"link","data":{"data-web-url":"https://www.bloomberg.com/news/articles/2024-10-01/apple-readies-iphone-se-4-upgraded-ipad-air-for-early-2025","href":"bbg://news/stories/SKFR7VT1UM0W","itemprop":"StoryLink","itemscope":"itemscope","target":"_blank","webUrl":"https://www.bloomberg.com/news/articles/2024-10-01/apple-readies-iphone-se-4-upgraded-ipad-air-for-early-2025","destination":{"web":"https://www.bloomberg.com/news/articles/2024-10-01/apple-readies-iphone-se-4-upgraded-ipad-air-for-early-2025","bbg":"bbg://news/stories/SKFR7VT1UM0W"}},"content":[{"type":"text","value":"updated iPhone SE"}]},{"type":"text","value":" will be a highlight. This down-market model will finally lose the home button and move to a modern design with Face ID. It will also support Apple Intelligence. Given the upgrades, I wouldn’t be surprised if the starting price is a bit higher than today’s $429 iPhone SE. Apple should probably keep the old model around at a lower price. Though the company probably won’t want to do this, selling a version of the iPhone for $200 would help it tremendously in developing markets. "}]},{"type":"ad","data":{"num":2,"pageId":"newsletter_campaign"},"content":[]},{"type":"paragraph","data":{},"content":[{"type":"text","value":"The "},{"type":"entity","subType":"story","data":{"story":{"identifiers":{"suid":"SLRUYGDWRGG0"}},"link":{"data-web-url":"https://www.bloomberg.com/news/articles/2024-10-23/apple-makes-headway-on-m4-macbook-air-and-plans-new-low-end-ipad","href":"bbg://news/stories/SLRUYGDWRGG0","itemprop":"StoryLink","itemscope":"itemscope","target":"_blank","webUrl":"https://www.bloomberg.com/news/articles/2024-10-23/apple-makes-headway-on-m4-macbook-air-and-plans-new-low-end-ipad","destination":{"web":"https://www.bloomberg.com/news/articles/2024-10-23/apple-makes-headway-on-m4-macbook-air-and-plans-new-low-end-ipad","bbg":"bbg://news/stories/SLRUYGDWRGG0"}}},"content":[{"type":"text","value":"new entry-level iPads"}],"meta":{"suid":"SLRUYGDWRGG0","type":"StoryLink"}},{"type":"text","value":" — J481 and J482 — will get faster processors and Apple Intelligence. The current models have the A14 chip and 4 gigabytes of memory. Look for the new versions to have the A17 Pro chip, matching the iPad mini, and a bump to 8 gigabytes of memory. That’s the minimum needed to support the new AI platform. "}]},{"type":"media","subType":"photo","data":{"identifiers":{"avmmId":423150984},"remoteContent":[{"link":{"destination":{"bbg":"http://resource.bloomberg.com/images/423150984","web":"https://assets.bwbx.io/images/users/iqjWHBFdfxIU/ikimulczBt44/v1/-1x-1.webp"}},"rendition":"highres"}],"photo":{"align":"center","class":"rendered","data-align":"center","data-id":"423150984","data-image-size":"column","data-image-type":"photo","data-type":"image","style":"display:inline-block","id":423150984,"imageSize":"column","imageType":"photo","type":"image","src":"https://assets.bwbx.io/images/users/iqjWHBFdfxIU/ikimulczBt44/v1/-1x-1.webp","alt":"Apple Opens New Store in South Korea","caption":"Apple\u0026#x2019;s iPhone 14.","credit":"Photographer: SeongJoon Cho/Bloomberg"},"attachment":{"alt":"Apple Opens New Store in South Korea","caption":null,"credit":null,"height":1334,"id":"423150984","origHeight":1334,"origWidth":2000,"size":null,"title":"Apple Opens New Store in South Korea","type":"image","url":"https://assets.bwbx.io/images/users/iqjWHBFdfxIU/ikimulczBt44/v1/-1x-1.webp","width":2000,"themes":null,"__typename":"Image"}}},{"type":"paragraph","data":{},"content":[{"type":"text","value":"Likewise, the "},{"type":"entity","subType":"story","data":{"story":{"identifiers":{"suid":"SKFR7VT1UM0W"}},"link":{"data-web-url":"https://www.bloomberg.com/news/articles/2024-10-01/apple-readies-iphone-se-4-upgraded-ipad-air-for-early-2025","href":"bbg://news/stories/SKFR7VT1UM0W","itemprop":"StoryLink","itemscope":"itemscope","target":"_blank","webUrl":"https://www.bloomberg.com/news/articles/2024-10-01/apple-readies-iphone-se-4-upgraded-ipad-air-for-early-2025","destination":{"web":"https://www.bloomberg.com/news/articles/2024-10-01/apple-readies-iphone-se-4-upgraded-ipad-air-for-early-2025","bbg":"bbg://news/stories/SKFR7VT1UM0W"}}},"content":[{"type":"text","value":"new iPad Airs"}],"meta":{"suid":"SKFR7VT1UM0W","type":"StoryLink"}},{"type":"text","value":" — code-named J607, J608, J637 and J638 — will be more about specification upgrades than design changes. The current version, "},{"type":"entity","subType":"story","data":{"story":{"identifiers":{"suid":"SD4HSADWRGG0"}},"link":{"data-web-url":"https://www.bloomberg.com/news/articles/2024-05-07/apple-debuts-larger-ipad-air-in-device-s-first-update-since-2022","href":"bbg://news/stories/SD4HSADWRGG0","itemprop":"StoryLink","itemscope":"itemscope","target":"_blank","webUrl":"https://www.bloomberg.com/news/articles/2024-05-07/apple-debuts-larger-ipad-air-in-device-s-first-update-since-2022","destination":{"web":"https://www.bloomberg.com/news/articles/2024-05-07/apple-debuts-larger-ipad-air-in-device-s-first-update-since-2022","bbg":"bbg://news/stories/SD4HSADWRGG0"}}},"content":[{"type":"text","value":"introduced last year"}],"meta":{"suid":"SD4HSADWRGG0","type":"StoryLink"}},{"type":"text","value":", has the M2 chip. I wouldn’t be terribly surprised if the 2025 models get bumped up to the M4, matching the iPad Pro. That would mean the Pro has less of an edge over the Air, but that shouldn’t be too shocking. Most Macs rely on the same chip family, and iPads could do the same."}]},{"type":"paragraph","data":{},"content":[{"type":"text","value":"The iPad Pro, "},{"type":"entity","subType":"story","data":{"story":{"identifiers":{"suid":"SD4HSADWRGG0"}},"link":{"data-web-url":"https://www.bloomberg.com/news/articles/2024-05-07/apple-debuts-larger-ipad-air-in-device-s-first-update-since-2022","href":"bbg://news/stories/SD4HSADWRGG0","itemprop":"StoryLink","itemscope":"itemscope","target":"_blank","webUrl":"https://www.bloomberg.com/news/articles/2024-05-07/apple-debuts-larger-ipad-air-in-device-s-first-update-since-2022","destination":{"web":"https://www.bloomberg.com/news/articles/2024-05-07/apple-debuts-larger-ipad-air-in-device-s-first-update-since-2022","bbg":"bbg://news/stories/SD4HSADWRGG0"}}},"content":[{"type":"text","value":"which got the M4 last May"}],"meta":{"suid":"SD4HSADWRGG0","type":"StoryLink"}},{"type":"text","value":", isn’t due for an imminent upgrade. I wouldn’t expect that product to get a refresh until the M5 chip for iPads is ready between late 2025 and early 2026."}]},{"type":"paragraph","data":{},"content":[{"type":"text","value":"Then there’s the brand-new smart home hub. This device has a roughly 7-inch screen and can help manage household tasks, run apps and conduct video calls. Consumers will be able to hang it on a wall or place it on a countertop — perhaps in a few spots around the home. "}]},{"type":"paragraph","data":{},"content":[{"type":"text","value":"Apple has been "},{"type":"entity","subType":"story","data":{"story":{"identifiers":{"suid":"SMNI6WT0G1KW"}},"link":{"data-web-url":"https://www.bloomberg.com/news/articles/2024-11-12/apple-home-hub-detailed-apple-intelligence-homeos-square-ipad-like-design","href":"bbg://news/stories/SMNI6WT0G1KW","itemprop":"StoryLink","itemscope":"itemscope","target":"_blank","webUrl":"https://www.bloomberg.com/news/articles/2024-11-12/apple-home-hub-detailed-apple-intelligence-homeos-square-ipad-like-design","destination":{"web":"https://www.bloomberg.com/news/articles/2024-11-12/apple-home-hub-detailed-apple-intelligence-homeos-square-ipad-like-design","bbg":"bbg://news/stories/SMNI6WT0G1KW"}}},"content":[{"type":"text","value":"planning to introduce"}],"meta":{"suid":"SMNI6WT0G1KW","type":"StoryLink"}},{"type":"text","value":" the home hub in March, but it may take longer to reach consumers. The device’s new operating system — code-named Pebble — is heavily tied to App Intents features coming in iOS 18.4 and iOS 19, so it’s plausible that the hardware itself will ship a bit later. "}]},{"type":"paragraph","data":{},"content":[{"type":"text","value":"That device sets the stage for two major developments after 2025: a new, more conversational Siri digital assistant and Apple-made smart home accessories. As I recently reported, a "},{"type":"entity","subType":"story","data":{"story":{"identifiers":{"suid":"SN5X7ZDWLU68"}},"link":{"data-web-url":"https://www.bloomberg.com/news/articles/2024-11-21/apple-readies-more-conversational-llm-siri-in-bid-to-rival-openai-s-chatgpt","href":"bbg://news/stories/SN5X7ZDWLU68","itemprop":"StoryLink","itemscope":"itemscope","target":"_blank","webUrl":"https://www.bloomberg.com/news/articles/2024-11-21/apple-readies-more-conversational-llm-siri-in-bid-to-rival-openai-s-chatgpt","destination":{"web":"https://www.bloomberg.com/news/articles/2024-11-21/apple-readies-more-conversational-llm-siri-in-bid-to-rival-openai-s-chatgpt","bbg":"bbg://news/stories/SN5X7ZDWLU68"}}},"content":[{"type":"text","value":"revamped Siri for the age of ChatGPT"}],"meta":{"suid":"SN5X7ZDWLU68","type":"StoryLink"}},{"type":"text","value":" is due in spring 2026. The accessories, meanwhile, include an in-home, privacy-centric security camera and a "},{"type":"entity","subType":"story","data":{"story":{"identifiers":{"suid":"SOWC45T0G1KW"}},"link":{"data-web-url":"https://www.bloomberg.com/news/newsletters/2024-12-22/apple-explores-amazon-ring-doorbell-competitor-with-face-id-airpods-heart-rate-m516vbik","href":"bbg://news/stories/SOWC45T0G1KW","itemprop":"StoryLink","itemscope":"itemscope","target":"_blank","webUrl":"https://www.bloomberg.com/news/newsletters/2024-12-22/apple-explores-amazon-ring-doorbell-competitor-with-face-id-airpods-heart-rate-m516vbik","destination":{"web":"https://www.bloomberg.com/news/newsletters/2024-12-22/apple-explores-amazon-ring-doorbell-competitor-with-face-id-airpods-heart-rate-m516vbik","bbg":"bbg://news/stories/SOWC45T0G1KW"}}},"content":[{"type":"text","value":"Face ID-driven digital doorbell"}],"meta":{"suid":"SOWC45T0G1KW","type":"StoryLink"}},{"type":"text","value":". Those also could be ready around 2026."}]},{"type":"media","subType":"photo","data":{"identifiers":{"avmmId":423151213},"remoteContent":[{"link":{"destination":{"bbg":"http://resource.bloomberg.com/images/423151213","web":"https://assets.bwbx.io/images/users/iqjWHBFdfxIU/iMUU55aUH6ds/v1/-1x-1.webp"}},"rendition":"highres"}],"photo":{"align":"center","class":"rendered","data-align":"center","data-id":"423151213","data-image-size":"column","data-image-type":"photo","data-type":"image","style":"display:inline-block","id":423151213,"imageSize":"column","imageType":"photo","type":"image","src":"https://assets.bwbx.io/images/users/iqjWHBFdfxIU/iMUU55aUH6ds/v1/-1x-1.webp","alt":"Apple iPhone SE 3 And iPad Air 5 Go On Sale In Store","caption":"Apple Mac Studio.","credit":"Photographer: Gabby Jones/Bloomberg"},"attachment":{"alt":"Apple iPhone SE 3 And iPad Air 5 Go On Sale In Store","caption":null,"credit":null,"height":1333,"id":"423151213","origHeight":1333,"origWidth":2000,"size":null,"title":"Apple iPhone SE 3 And iPad Air 5 Go On Sale In Store","type":"image","url":"https://assets.bwbx.io/images/users/iqjWHBFdfxIU/iMUU55aUH6ds/v1/-1x-1.webp","width":2000,"themes":null,"__typename":"Image"}}},{"type":"paragraph","data":{},"content":[{"type":"text","value":"But let’s get back to 2025 plans. During the first half of the year, Apple is aiming to "},{"type":"entity","subType":"story","data":{"story":{"identifiers":{}},"link":{"data-web-url":"https://www.bloomberg.com/news/articles/2024-04-11/apple-aapl-readies-m4-chip-mac-line-including-new-macbook-air-and-mac-pro","href":"bbg://news/stories/SBSNMPT1UM0W","itemprop":"StoryLink","itemscope":"itemscope","target":"_blank","webUrl":"https://www.bloomberg.com/news/articles/2024-04-11/apple-aapl-readies-m4-chip-mac-line-including-new-macbook-air-and-mac-pro","destination":{"web":"https://www.bloomberg.com/news/articles/2024-04-11/apple-aapl-readies-m4-chip-mac-line-including-new-macbook-air-and-mac-pro","bbg":"bbg://news/stories/SBSNMPT1UM0W"}}},"content":[{"type":"text","value":"refresh the Mac Studio"}],"meta":{"type":"StoryLink"}},{"type":"text","value":", its mid-tier, headless desktop computer. This will help restore order to the Mac lineup. The Mac mini recently got an M4 Pro chip that bests the Mac Studio’s M2 Ultra processor in some scenarios and benchmarks. So Apple needs to get the higher-end Studio model back on track with the speedier M4 Max and M4 Ultra chips."}]},{"type":"ad","data":{"num":3,"pageId":"newsletter_campaign"},"content":[]},{"type":"paragraph","data":{},"content":[{"type":"text","value":"That brings us to Apple’s mobile software. Though it may feel like iOS 18 just arrived, we’re actually only about six months away from the debut of iOS 19. Before that happens, we’ll get some critical updates to the current operating system, including an iOS 18.4 upgrade that brings new Apple Intelligence features."}]},{"type":"paragraph","data":{},"content":[{"type":"text","value":"Continuing a recent pattern, Apple won’t have some key upcoming features in iOS 19.0, pushing some of them back to later releases. As I wrote previously, Apple is "},{"type":"link","data":{"data-web-url":"https://www.bloomberg.com/news/newsletters/2024-10-06/when-will-apple-intelligence-be-released-when-is-apple-releasing-m4-macs-ipad-m1xksx7q","href":"bbg://news/stories/SKXQ3GDWX2PS","itemprop":"StoryLink","itemscope":"itemscope","target":"_blank","webUrl":"https://www.bloomberg.com/news/newsletters/2024-10-06/when-will-apple-intelligence-be-released-when-is-apple-releasing-m4-macs-ipad-m1xksx7q","destination":{"web":"https://www.bloomberg.com/news/newsletters/2024-10-06/when-will-apple-intelligence-be-released-when-is-apple-releasing-m4-macs-ipad-m1xksx7q","bbg":"bbg://news/stories/SKXQ3GDWX2PS"}},"content":[{"type":"text","value":"inching away from"}]},{"type":"text","value":" jam-packed annual software introductions, opting for a more staggered approach."}]},{"type":"paragraph","data":{},"content":[{"type":"text","value":"In the second half of 2025, the company will have its usual major announcements — highlighted by new iPhones and Apple Watches."}]},{"type":"paragraph","data":{},"content":[{"type":"text","value":"Let’s start with the Apple Watch. A fresh version of the lower-end SE model will sport a new look, though the Series 11 and Ultra 3 models will probably stay roughly the same. In any case, the most exciting news will be new features. The Ultra 3 will get "},{"type":"entity","subType":"story","data":{"story":{"identifiers":{"suid":"SOALCHT1UM0W"}},"link":{"data-web-url":"https://www.bloomberg.com/news/articles/2024-12-10/apple-plans-apple-watch-ultra-3-next-year-with-satellite-texting-and-5g","href":"bbg://news/stories/SOALCHT1UM0W","itemprop":"StoryLink","itemscope":"itemscope","target":"_blank","webUrl":"https://www.bloomberg.com/news/articles/2024-12-10/apple-plans-apple-watch-ultra-3-next-year-with-satellite-texting-and-5g","destination":{"web":"https://www.bloomberg.com/news/articles/2024-12-10/apple-plans-apple-watch-ultra-3-next-year-with-satellite-texting-and-5g","bbg":"bbg://news/stories/SOALCHT1UM0W"}}},"content":[{"type":"text","value":"satellite connectivity"}],"meta":{"suid":"SOALCHT1UM0W","type":"StoryLink"}},{"type":"text","value":" and 5G RedCap network access, and it’s likely that high-blood-pressure detection comes to both the Ultra and Series models. "}]},{"type":"media","subType":"photo","data":{"identifiers":{"avmmId":423151342},"remoteContent":[{"link":{"destination":{"bbg":"http://resource.bloomberg.com/images/423151342","web":"https://assets.bwbx.io/images/users/iqjWHBFdfxIU/iCE.4N1rYvgY/v1/-1x-1.webp"}},"rendition":"highres"}],"photo":{"align":"center","class":"rendered","data-align":"center","data-id":"423151342","data-image-size":"column","data-image-type":"photo","data-type":"image","style":"display:inline-block","id":423151342,"imageSize":"column","imageType":"photo","type":"image","src":"https://assets.bwbx.io/images/users/iqjWHBFdfxIU/iCE.4N1rYvgY/v1/-1x-1.webp","alt":"","caption":"Apple Watch Ultra 2.","credit":"Bloomberg"},"attachment":{"alt":null,"caption":null,"credit":null,"height":1333,"id":"423151342","origHeight":1333,"origWidth":2000,"size":null,"title":"apple watch.jpg","type":"image","url":"https://assets.bwbx.io/images/users/iqjWHBFdfxIU/iCE.4N1rYvgY/v1/-1x-1.webp","width":2000,"themes":null,"__typename":"Image"}}},{"type":"paragraph","data":{},"content":[{"type":"text","value":"The satellite technology could lead to bigger things down the road. Apple is working with partner Globalstar Inc. to bolster its satellite service, which could bring new features. The company also is increasing its ambitions in the health realm. Apple is planning a revamped health app — as well as an "},{"type":"entity","subType":"story","data":{"story":{"identifiers":{"suid":"S3FVSLDWRGG0"}},"link":{"data-web-url":"https://www.bloomberg.com/news/features/2023-11-01/apple-health-blood-pressure-glucose-sleep-apnea-team-issues","href":"bbg://news/stories/S3FVSLDWRGG0","itemprop":"StoryLink","itemscope":"itemscope","target":"_blank","webUrl":"https://www.bloomberg.com/news/features/2023-11-01/apple-health-blood-pressure-glucose-sleep-apnea-team-issues","destination":{"web":"https://www.bloomberg.com/news/features/2023-11-01/apple-health-blood-pressure-glucose-sleep-apnea-team-issues","bbg":"bbg://news/stories/S3FVSLDWRGG0"}}},"content":[{"type":"text","value":"AI-based coaching service"}],"meta":{"suid":"S3FVSLDWRGG0","type":"StoryLink"}},{"type":"text","value":" — and added capabilities for AirPods. That includes heart-rate monitoring and sensors to measure other health data."}]},{"type":"paragraph","data":{},"content":[{"type":"text","value":"Onto the main event: updated designs for the iPhone 17, Pro and Pro Max, as well as a brand-new model that could be called the iPhone 17 Air. "}]},{"type":"paragraph","data":{},"content":[{"type":"text","value":"The idea behind that final product: use Apple’s miniaturization skills and its push into new types of silicon to make the thinnest iPhone to date. The hope is that this form factor fares better than the failed Plus and mini iPhone experiments of recent years."}]},{"type":"ad","data":{"num":4,"pageId":"newsletter_campaign"},"content":[]},{"type":"paragraph","data":{},"content":[{"type":"text","value":"The model will be about 2 millimeters thinner than existing iPhones and make use of the company’s "},{"type":"entity","subType":"story","data":{"story":{"identifiers":{}},"link":{"data-web-url":"https://www.bloomberg.com/news/articles/2024-12-06/apple-s-three-year-modem-road-map-company-plans-to-beat-qualcomm-by-2027","href":"bbg://news/stories/SO3DZJT1UM0W","itemprop":"StoryLink","itemscope":"itemscope","target":"_blank","webUrl":"https://www.bloomberg.com/news/articles/2024-12-06/apple-s-three-year-modem-road-map-company-plans-to-beat-qualcomm-by-2027","destination":{"web":"https://www.bloomberg.com/news/articles/2024-12-06/apple-s-three-year-modem-road-map-company-plans-to-beat-qualcomm-by-2027","bbg":"bbg://news/stories/SO3DZJT1UM0W"}}},"content":[{"type":"text","value":"first in-house modem"}],"meta":{"type":"StoryLink"}},{"type":"text","value":" (code-named Sinope, which is also coming to the new iPhone SE in the spring). It will have a base-level A19 chip and a single-lens camera system."}]},{"type":"paragraph","data":{},"content":[{"type":"text","value":"While the device may not become the best-selling iPhone, it will absolutely be the most talked about new model when the fall rolls around."}]},{"type":"media","subType":"photo","data":{"identifiers":{"avmmId":423151496},"remoteContent":[{"link":{"destination":{"bbg":"http://resource.bloomberg.com/images/423151496","web":"https://assets.bwbx.io/images/users/iqjWHBFdfxIU/iPBd_keb2Krs/v1/-1x-1.webp"}},"rendition":"highres"}],"photo":{"align":"center","class":"rendered","data-align":"center","data-id":"423151496","data-image-size":"column","data-image-type":"photo","data-type":"image","style":"display:inline-block","id":423151496,"imageSize":"column","imageType":"photo","type":"image","src":"https://assets.bwbx.io/images/users/iqjWHBFdfxIU/iPBd_keb2Krs/v1/-1x-1.webp","alt":"Apple iPhone Hits Stores Without Its Highly Awaited AI Features","caption":"Apple\u0026#x2019;s iPhone 16 models.","credit":"Photographer: Chris Ratcliffe/Bloomberg"},"attachment":{"alt":"Apple iPhone Hits Stores Without Its Highly Awaited AI Features","caption":null,"credit":null,"height":1334,"id":"423151496","origHeight":1334,"origWidth":2000,"size":null,"title":"Apple iPhone Hits Stores Without Its Highly Awaited AI Features","type":"image","url":"https://assets.bwbx.io/images/users/iqjWHBFdfxIU/iPBd_keb2Krs/v1/-1x-1.webp","width":2000,"themes":null,"__typename":"Image"}}},{"type":"paragraph","data":{},"content":[{"type":"text","value":"Apple sees the “Air” strategy as a tried-and-true winner, given its unprecedented success with the MacBook Air over the past 15 years — not to mention the iPad Air. Consumers will probably still ultimately gravitate more toward the iPhone Pro and Pro Max models, but the Air should at least outsell the iPhone 16 Plus."}]},{"type":"paragraph","data":{},"content":[{"type":"text","value":"The iPhone Air also serves as a testing ground for future technologies, including ones that could allow for "},{"type":"link","data":{"data-web-url":"https://www.bloomberg.com/news/newsletters/2024-12-15/apple-working-on-giant-foldable-ipad-revamped-mouse-longer-range-airtag-2","href":"bbg://news/stories/SOJDGMDWLU68","itemprop":"StoryLink","itemscope":"itemscope","target":"_blank","webUrl":"https://www.bloomberg.com/news/newsletters/2024-12-15/apple-working-on-giant-foldable-ipad-revamped-mouse-longer-range-airtag-2","destination":{"web":"https://www.bloomberg.com/news/newsletters/2024-12-15/apple-working-on-giant-foldable-ipad-revamped-mouse-longer-range-airtag-2","bbg":"bbg://news/stories/SOJDGMDWLU68"}},"content":[{"type":"text","value":"foldable devices"}]},{"type":"text","value":". To fold, iPhones and iPads will need to have bodies and displays that are as thin as possible — and the Air is a step toward that. "}]},{"type":"paragraph","data":{},"content":[{"type":"text","value":"By using Apple’s in-house modem chips, the SE and Air models also lay the groundwork for other devices. As I’ve reported, the Pro iPhone line is due to get the Apple-designed components next year. Apple also is "},{"type":"entity","subType":"story","data":{"story":{"identifiers":{"suid":"SOE8AJT0AFB4"}},"link":{"data-web-url":"https://www.bloomberg.com/news/articles/2024-12-12/apple-nears-switch-to-in-house-bluetooth-and-wi-fi-chip-for-iphone-home","href":"bbg://news/stories/SOE8AJT0AFB4","itemprop":"StoryLink","itemscope":"itemscope","target":"_blank","webUrl":"https://www.bloomberg.com/news/articles/2024-12-12/apple-nears-switch-to-in-house-bluetooth-and-wi-fi-chip-for-iphone-home","destination":{"web":"https://www.bloomberg.com/news/articles/2024-12-12/apple-nears-switch-to-in-house-bluetooth-and-wi-fi-chip-for-iphone-home","bbg":"bbg://news/stories/SOE8AJT0AFB4"}}},"content":[{"type":"text","value":"moving to Proxima"}],"meta":{"suid":"SOE8AJT0AFB4","type":"StoryLink"}},{"type":"text","value":" — an in-house combined Wi-Fi and Bluetooth chip — in some devices, with more of the lineup getting it over time."}]},{"type":"paragraph","data":{},"content":[{"type":"text","value":"Later in the year, the MacBook Pro will get upgraded. But I expect the M5 versions to retain the same overall design as the 2021 model, with Apple planning a bigger revamp for 2026 — the 20-year anniversary of the MacBook Pro. A new Mac Pro is in development as well, and it will feature a high-end Hidra chip. This machine is on track to be ready before the MacBook Pro, though the timing isn’t yet clear."}]},{"type":"media","subType":"photo","data":{"identifiers":{"avmmId":423151624},"remoteContent":[{"link":{"destination":{"bbg":"http://resource.bloomberg.com/images/423151624","web":"https://assets.bwbx.io/images/users/iqjWHBFdfxIU/ieH0pr1O8F_U/v1/-1x-1.webp"}},"rendition":"highres"}],"photo":{"align":"center","class":"rendered","data-align":"center","data-id":"423151624","data-image-size":"column","data-image-type":"photo","data-type":"image","style":"display:inline-block","id":423151624,"imageSize":"column","imageType":"photo","type":"image","src":"https://assets.bwbx.io/images/users/iqjWHBFdfxIU/ieH0pr1O8F_U/v1/-1x-1.webp","alt":"Apple Inc. Vision Pro Goes On Sale In The UK","caption":"Apple Vision Pro.","credit":"Photographer: Betty Laura Zapata/Bloomberg"},"attachment":{"alt":"Apple Inc. Vision Pro Goes On Sale In The UK","caption":null,"credit":null,"height":1334,"id":"423151624","origHeight":1334,"origWidth":2000,"size":null,"title":"Apple Inc. Vision Pro Goes On Sale In The UK","type":"image","url":"https://assets.bwbx.io/images/users/iqjWHBFdfxIU/ieH0pr1O8F_U/v1/-1x-1.webp","width":2000,"themes":null,"__typename":"Image"}}},{"type":"paragraph","data":{},"content":[{"type":"text","value":"Apple’s less consequential products will get refreshed as well. A new "},{"type":"entity","subType":"story","data":{"story":{"identifiers":{"suid":"SOJDGMDWLU68"}},"link":{"data-web-url":"https://www.bloomberg.com/news/newsletters/2024-12-15/apple-working-on-giant-foldable-ipad-revamped-mouse-longer-range-airtag-2","href":"bbg://news/stories/SOJDGMDWLU68","itemprop":"StoryLink","itemscope":"itemscope","target":"_blank","webUrl":"https://www.bloomberg.com/news/newsletters/2024-12-15/apple-working-on-giant-foldable-ipad-revamped-mouse-longer-range-airtag-2","destination":{"web":"https://www.bloomberg.com/news/newsletters/2024-12-15/apple-working-on-giant-foldable-ipad-revamped-mouse-longer-range-airtag-2","bbg":"bbg://news/stories/SOJDGMDWLU68"}}},"content":[{"type":"text","value":"AirTag with better range"}],"meta":{"suid":"SOJDGMDWLU68","type":"StoryLink"}},{"type":"text","value":" — code-named B589 — is already nearing production. And there are new HomePod mini and Apple TV set-top box models planned for release toward the end of the year. The latter two products will be built with Apple’s new smart home ecosystem in mind."}]},{"type":"ad","data":{"num":5,"pageId":"newsletter_campaign"},"content":[]},{"type":"paragraph","data":{},"content":[{"type":"text","value":"Apple’s accessory lineup has been neglected of late. The AirTag hasn’t received a hardware update since it debuted in 2021, and the HomePod mini only received color refreshes since launching in 2020. The Apple TV box — a "},{"type":"link","data":{"data-web-url":"https://www.bloomberg.com/news/newsletters/2024-11-24/apple-should-build-fire-tv-chromecast-rival-llm-siri-plans-oura-glucose-push-m3vnimbg","href":"bbg://news/stories/SNGJJ6DWLU68","itemprop":"StoryLink","itemscope":"itemscope","target":"_blank","webUrl":"https://www.bloomberg.com/news/newsletters/2024-11-24/apple-should-build-fire-tv-chromecast-rival-llm-siri-plans-oura-glucose-push-m3vnimbg","destination":{"web":"https://www.bloomberg.com/news/newsletters/2024-11-24/apple-should-build-fire-tv-chromecast-rival-llm-siri-plans-oura-glucose-push-m3vnimbg","bbg":"bbg://news/stories/SNGJJ6DWLU68"}},"content":[{"type":"text","value":"laggard in the living room space"}]},{"type":"text","value":" — has gone without an update since 2022. "}]},{"type":"paragraph","data":{},"content":[{"type":"text","value":"One thing missing from this 2025 road map is the Vision Pro. As of now, I don’t believe there will be a new headset from Apple shipping this year, though there theoretically could be an unveiling ahead of a release later. Signs point to a second-generation model coming in 2026 with an M5 chip. But given the lackluster reaction from consumers, I don’t believe Apple should release anything with the current design."}]},{"type":"paragraph","data":{},"content":[{"type":"text","value":"The more urgent goal is to produce a lower-cost version of the headset, and Apple is ramping up of development of such a product. Stay tuned for more details on that. Besides that device, code-named N107, Apple is "},{"type":"link","data":{"data-web-url":"https://www.bloomberg.com/news/newsletters/2024-06-23/apple-vision-plans-cheaper-model-in-late-2025-vision-pro-2-in-2026-ar-glasses-lxrjk6wu","href":"bbg://news/stories/SFJA32DWLU68","itemprop":"StoryLink","itemscope":"itemscope","target":"_blank","webUrl":"https://www.bloomberg.com/news/newsletters/2024-06-23/apple-vision-plans-cheaper-model-in-late-2025-vision-pro-2-in-2026-ar-glasses-lxrjk6wu","destination":{"web":"https://www.bloomberg.com/news/newsletters/2024-06-23/apple-vision-plans-cheaper-model-in-late-2025-vision-pro-2-in-2026-ar-glasses-lxrjk6wu","bbg":"bbg://news/stories/SFJA32DWLU68"}},"content":[{"type":"text","value":"actively exploring"}]},{"type":"text","value":" other ideas. That includes a version of the Ray-Ban smart glasses from Meta Platforms Inc. and an AirPods-like vision device with cameras."}]},{"type":"paragraph","data":{},"content":[{"type":"text","value":"All those devices would be further out than 2025, but this year should be a critical step toward that future vision."}]},{"type":"heading","data":{"level":2},"content":[{"type":"text","value":"The Bench"}]},{"type":"media","subType":"photo","data":{"identifiers":{"avmmId":423151461},"remoteContent":[{"link":{"destination":{"bbg":"http://resource.bloomberg.com/images/423151461","web":"https://assets.bwbx.io/images/users/iqjWHBFdfxIU/iWQR5aqQk0Ak/v1/-1x-1.webp"}},"rendition":"highres"}],"photo":{"align":"center","class":"rendered","data-align":"center","data-id":"423151461","data-image-size":"column","data-image-type":"photo","data-type":"image","style":"display:inline-block","id":423151461,"imageSize":"column","imageType":"photo","type":"image","src":"https://assets.bwbx.io/images/users/iqjWHBFdfxIU/iWQR5aqQk0Ak/v1/-1x-1.webp","alt":"The Apple manager, Luca Maestri, speaks to newly graduated","caption":"Luca Maestri, Apple\u0026#x2019;s former finance chief.","credit":"Photographer: Marco Cantile/LightRocket/Getty Images"},"attachment":{"alt":"The Apple manager, Luca Maestri, speaks to newly graduated","caption":null,"credit":null,"height":1333,"id":"423151461","origHeight":1333,"origWidth":2000,"size":null,"title":"The Apple manager, Luca Maestri, speaks to newly graduated","type":"image","url":"https://assets.bwbx.io/images/users/iqjWHBFdfxIU/iWQR5aqQk0Ak/v1/-1x-1.webp","width":2000,"themes":null,"__typename":"Image"}}},{"type":"paragraph","data":{},"content":[{"type":"text","value":"Apple’s new chief financial officer starts role, while his predecessor stays close. ","attributes":{"strong":true}},{"type":"text","value":"The start of 2025 marked one of the biggest shake-ups to Apple’s executive team in years: Luca Maestri has stepped down as chief financial officer, with Kevan Parekh stepping into the job. As part of the transition, Maestri is staying on board as vice president of corporate services — in keeping with Tim Cook’s policy of having "},{"type":"link","data":{"data-web-url":"https://www.bloomberg.com/news/newsletters/2024-09-01/apple-s-succession-strategy-m4-mac-mini-cheaper-ipad-magic-keyboard-m0jkdrx5","href":"bbg://news/stories/SJ4WR1T0AFB4","itemprop":"StoryLink","itemscope":"itemscope","target":"_blank","webUrl":"https://www.bloomberg.com/news/newsletters/2024-09-01/apple-s-succession-strategy-m4-mac-mini-cheaper-ipad-magic-keyboard-m0jkdrx5","destination":{"web":"https://www.bloomberg.com/news/newsletters/2024-09-01/apple-s-succession-strategy-m4-mac-mini-cheaper-ipad-magic-keyboard-m0jkdrx5","bbg":"bbg://news/stories/SJ4WR1T0AFB4"}},"content":[{"type":"text","value":"retired executives stick around awhile"}]},{"type":"text","value":". "}]},{"type":"ad","data":{"num":6,"pageId":"newsletter_campaign"},"content":[]},{"type":"paragraph","data":{},"content":[{"type":"text","value":"Maestri’s new role isn’t actually new: He’s just keeping all the nonfinancial responsibilities that he had as CFO. Maestri’s predecessor, Peter Oppenheimer, did something similar when he left in 2014. Maestri first took on the financial duties and then, three months later, got the so-called corporate services tasks. Eventually, the same transfer will take place with Parekh. "}]},{"type":"paragraph","data":{},"content":[{"type":"text","value":"The corporate services responsibilities include Apple’s information systems and technology department, its information security group, real estate and development teams, the Claris subsidiary and the company’s Caffe Macs employee food courts. As I wrote last year, this role is essentially semiretirement for Maestri and a way to ensure he’s around if there are any hiccups. As a company worth more than $3.5 trillion, Apple can’t afford to take chances. "}]},{"type":"paragraph","data":{},"content":[{"type":"text","value":"The bigger picture: A broader "},{"type":"link","data":{"data-web-url":"https://www.bloomberg.com/news/newsletters/2024-05-12/who-will-run-apple-after-cook-leaves-a-look-at-company-s-succession-challenge-lw3j2t5z","href":"bbg://news/stories/SDDI3KT0G1KW","itemprop":"StoryLink","itemscope":"itemscope","target":"_blank","webUrl":"https://www.bloomberg.com/news/newsletters/2024-05-12/who-will-run-apple-after-cook-leaves-a-look-at-company-s-succession-challenge-lw3j2t5z","destination":{"web":"https://www.bloomberg.com/news/newsletters/2024-05-12/who-will-run-apple-after-cook-leaves-a-look-at-company-s-succession-challenge-lw3j2t5z","bbg":"bbg://news/stories/SDDI3KT0G1KW"}},"content":[{"type":"text","value":"changing of the guard"}]},{"type":"text","value":" is underway at Apple. Dan Riccio, the former head of hardware engineering, stepped down a couple of months ago. Maestri is on the way out. At some point, there will be transitions in retail, legal, services and operations. But the big change — CEO — is likely still several years away. When that time comes, the smart money is still very much on "},{"type":"link","data":{"data-web-url":"https://www.bloomberg.com/news/articles/2024-05-08/apple-s-next-ceo-list-of-aapl-insiders-who-could-succeed-tim-cook","href":"bbg://news/stories/SD6QCVT0G1KW","itemprop":"StoryLink","itemscope":"itemscope","target":"_blank","webUrl":"https://www.bloomberg.com/news/articles/2024-05-08/apple-s-next-ceo-list-of-aapl-insiders-who-could-succeed-tim-cook","destination":{"web":"https://www.bloomberg.com/news/articles/2024-05-08/apple-s-next-ceo-list-of-aapl-insiders-who-could-succeed-tim-cook","bbg":"bbg://news/stories/SD6QCVT0G1KW"}},"content":[{"type":"text","value":"hardware chief John Ternus"}]},{"type":"text","value":" taking the reins from Cook."}]},{"type":"media","subType":"photo","data":{"identifiers":{"avmmId":423151659},"remoteContent":[{"link":{"destination":{"bbg":"http://resource.bloomberg.com/images/423151659","web":"https://assets.bwbx.io/images/users/iqjWHBFdfxIU/iaL1rrHS.h_I/v1/-1x-1.webp"}},"rendition":"highres"}],"photo":{"align":"center","class":"rendered","data-align":"center","data-id":"423151659","data-image-size":"column","data-image-type":"photo","data-type":"image","style":"display:inline-block","id":423151659,"imageSize":"column","imageType":"photo","type":"image","src":"https://assets.bwbx.io/images/users/iqjWHBFdfxIU/iaL1rrHS.h_I/v1/-1x-1.webp","alt":"Inside The 2025 CES Trade Show","caption":"Dell\u0026#x2019;s new marketing strategy.","credit":"Photographer: Bridget Bennett/Bloomberg"},"attachment":{"alt":"Inside The 2025 CES Trade Show","caption":null,"credit":null,"height":1333,"id":"423151659","origHeight":1333,"origWidth":2000,"size":null,"title":"Inside The 2025 CES Trade Show","type":"image","url":"https://assets.bwbx.io/images/users/iqjWHBFdfxIU/iaL1rrHS.h_I/v1/-1x-1.webp","width":2000,"themes":null,"__typename":"Image"}}},{"type":"paragraph","data":{},"content":[{"type":"text","value":"Dell’s groundbreaking new branding scheme: Dell, Dell Pro and Dell Pro Max. ","attributes":{"strong":true}},{"type":"text","value":"At the CES conference in Las Vegas, one of the "},{"type":"entity","subType":"story","data":{"story":{"identifiers":{"suid":"SP0EJQDWRGG0"}},"link":{"data-web-url":"https://www.bloomberg.com/news/articles/2025-01-06/dell-rebrand-of-pcs-echoes-apple-naming-conventions","href":"bbg://news/stories/SP0EJQDWRGG0","itemprop":"StoryLink","itemscope":"itemscope","target":"_blank","webUrl":"https://www.bloomberg.com/news/articles/2025-01-06/dell-rebrand-of-pcs-echoes-apple-naming-conventions","destination":{"web":"https://www.bloomberg.com/news/articles/2025-01-06/dell-rebrand-of-pcs-echoes-apple-naming-conventions","bbg":"bbg://news/stories/SP0EJQDWRGG0"}}},"content":[{"type":"text","value":"most interesting announcements"}],"meta":{"suid":"SP0EJQDWRGG0","type":"StoryLink"}},{"type":"text","value":" was a marketing shift from none other than Dell Technologies Inc. The new approach: branding its computers as “Dell,” “Dell Pro” and “Dell Pro Max,” depending on their configurations. "}]},{"type":"paragraph","data":{},"content":[{"type":"text","value":"It doesn’t take a marketing expert to see this as a page from Apple’s playbook. During Dell’s briefing with reporters on the change, the company said it made the move because of a positive consumer response to the terminology. That’s no surprise given the popularity of the iPhone and how long Apple has been using this naming strategy."}]},{"type":"inline-newsletter","data":{"position":"middle"},"content":[]},{"type":"paragraph","data":{},"content":[{"type":"text","value":"To be fair to Dell — no matter how shameless the move may be — Apple doesn’t own those terms. And the tech industry is rife with similar nomenclature. Both Apple and Samsung Electronics Co. use the Plus or + suffix on their larger phone offerings, and plenty of companies use “Pro” in their names. It’s worth noting that Apple adopted the “Ultra” designation for its high-end chips and watches years after Samsung started using it."}]},{"type":"ad","data":{"num":7,"pageId":"newsletter_campaign"},"content":[]},{"type":"paragraph","data":{},"content":[{"type":"text","value":"That said, Dell’s approach — especially using Pro Max in tandem — takes it to the next level."}]},{"type":"media","subType":"photo","data":{"identifiers":{"avmmId":423236330},"remoteContent":[{"link":{"destination":{"bbg":"http://resource.bloomberg.com/images/423236330","web":"https://assets.bwbx.io/images/users/iqjWHBFdfxIU/iHjDduUey3WY/v1/-1x-1.webp"}},"rendition":"highres"}],"photo":{"align":"center","class":"rendered","data-align":"center","data-id":"423236330","data-image-size":"column","data-image-type":"photo","data-type":"image","style":"display:inline-block","id":423236330,"imageSize":"column","imageType":"photo","type":"image","src":"https://assets.bwbx.io/images/users/iqjWHBFdfxIU/iHjDduUey3WY/v1/-1x-1.webp","alt":"","caption":"The Worldcenter in downtown Miami.","credit":"Photographer: Eva Marie Uzcategui/AP"},"attachment":{"alt":null,"caption":null,"credit":null,"height":1467,"id":"423236330","origHeight":1467,"origWidth":2200,"size":null,"title":"AP22051304796668.jpg","type":"image","url":"https://assets.bwbx.io/images/users/iqjWHBFdfxIU/iHjDduUey3WY/v1/-1x-1.webp","width":2200,"themes":null,"__typename":"Image"}}},{"type":"paragraph","data":{},"content":[{"type":"text","value":"Apple to usher in 2025 with China and Miami retail locations. ","attributes":{"strong":true}},{"type":"text","value":"Apple has a busy schedule of retail openings and relocations planned for this year, including new stores in the US, Canada, China, India and Australia. Things will kick off this month with two major stores: one at the MixC mall in Hefei, China, and another in downtown Miami’s Worldcenter complex. The Chinese location will open on Jan. 18, with the Miami site debuting on Jan. 24. "}]},{"type":"paragraph","data":{},"content":[{"type":"text","value":"The "},{"type":"entity","subType":"story","data":{"story":{"identifiers":{"suid":"RVL6Z4DWRGG0"}},"link":{"data-web-url":"https://www.bloomberg.com/news/articles/2023-06-01/where-is-apple-opening-new-stores-shanghai-new-delhi-london-miami-paris?sref=9hGJlFio","href":"bbg://news/stories/RVL6Z4DWRGG0","itemprop":"StoryLink","itemscope":"itemscope","target":"_blank","webUrl":"https://www.bloomberg.com/news/articles/2023-06-01/where-is-apple-opening-new-stores-shanghai-new-delhi-london-miami-paris?sref=9hGJlFio","destination":{"web":"https://www.bloomberg.com/news/articles/2023-06-01/where-is-apple-opening-new-stores-shanghai-new-delhi-london-miami-paris?sref=9hGJlFio","bbg":"bbg://news/stories/RVL6Z4DWRGG0"}}},"content":[{"type":"text","value":"retail store road map I published in 2023"}],"meta":{"suid":"RVL6Z4DWRGG0","type":"StoryLink"}},{"type":"text","value":" has held up well. You can expect additional locations in India, Shanghai and Beijing this year, as well as new or updated stores in the United Arab Emirates, Germany and France. The only other new stores planned for the US in 2025: a location at the Bradley Fair mall in Wichita, Kansas, and possibly the first one in downtown Detroit. The nearby store in Ann Arbor, Michigan, may also (finally) relocate and get an upgrade. "}]},{"type":"heading","data":{"level":2},"content":[{"type":"text","value":"The Schedule"}]},{"type":"media","subType":"photo","data":{"identifiers":{"avmmId":423151660},"remoteContent":[{"link":{"destination":{"bbg":"http://resource.bloomberg.com/images/423151660","web":"https://assets.bwbx.io/images/users/iqjWHBFdfxIU/i1MQGTiKP0fQ/v1/-1x-1.webp"}},"rendition":"highres"}],"photo":{"align":"center","class":"rendered","data-align":"center","data-id":"423151660","data-image-size":"column","data-image-type":"photo","data-type":"image","style":"display:inline-block","id":423151660,"imageSize":"column","imageType":"photo","type":"image","src":"https://assets.bwbx.io/images/users/iqjWHBFdfxIU/i1MQGTiKP0fQ/v1/-1x-1.webp","alt":"New Apple Products Go On Sale At Fifth Avenue Store","caption":"The iPhone 16 launch at the Fifth Avenue Apple store in New York.","credit":"Photographer: Victor J. Blue/Bloomberg"},"attachment":{"alt":"New Apple Products Go On Sale At Fifth Avenue Store","caption":null,"credit":null,"height":1333,"id":"423151660","origHeight":1333,"origWidth":2000,"size":null,"title":"New Apple Products Go On Sale At Fifth Avenue Store","type":"image","url":"https://assets.bwbx.io/images/users/iqjWHBFdfxIU/i1MQGTiKP0fQ/v1/-1x-1.webp","width":2000,"themes":null,"__typename":"Image"}}},{"type":"paragraph","data":{},"content":[{"type":"text","value":"Jan. 30 — Apple’s first-quarter results. ","attributes":{"strong":true}},{"type":"text","value":"The earnings report — the first under Chief Financial Officer Kevan Parekh — will give details of Apple’s all-important holiday season. Investors will get an idea of how the iPhone 16 is selling, as well as updated AirPods and Apple Watches. The company also should provide the first real sense of whether the Apple Intelligence AI platform is spurring consumers to upgrade their devices. Wall Street is looking for about $124 billion in revenue during the period, a 4% gain from a year earlier. "}]},{"type":"heading","data":{"level":2},"content":[{"type":"text","value":"Post Game Q\u0026A"}]},{"type":"paragraph","data":{},"content":[{"type":"text","value":"Q:"},{"type":"text","value":" What do you think about rumors that the new low-end iPhone and iPad are coming in January, not in the spring?","attributes":{"emphasis":true}},{"type":"br"},{"type":"text","value":"A: Last month, an anonymous Twitter account claimed that the iPhone SE replacement and new low-end iPads would launch as part of iOS 18.3, indicating a January release. This past week, that development was picked up by a bevy of websites. It’s not true: The new hardware isn’t arriving this month. But there is some nuance here. The idea that the new products are coming as part of iOS 18.3 is indeed true. But that doesn’t mean a January release. See, new Apple devices are developed alongside different iOS versions. The iOS 18.3 software will be the current iOS release until about April, when iOS 18.4 debuts. The new devices are still slated for a spring introduction. "},{"type":"br"},{"type":"br"},{"type":"text","value":"Q: "},{"type":"text","value":"Why does the new CarPlay keep getting delayed?","attributes":{"emphasis":true}},{"type":"br"},{"type":"text","value":"A: As I "},{"type":"link","data":{"data-web-url":"https://www.bloomberg.com/news/newsletters/2024-03-17/apple-aapl-revamped-carplay-becomes-last-hope-after-apple-car-is-canceled-ltvif8zt?sref=9hGJlFio","href":"bbg://news/stories/SAHSRQT1UM0W","itemprop":"StoryLink","itemscope":"itemscope","target":"_blank","webUrl":"https://www.bloomberg.com/news/newsletters/2024-03-17/apple-aapl-revamped-carplay-becomes-last-hope-after-apple-car-is-canceled-ltvif8zt?sref=9hGJlFio","destination":{"web":"https://www.bloomberg.com/news/newsletters/2024-03-17/apple-aapl-revamped-carplay-becomes-last-hope-after-apple-car-is-canceled-ltvif8zt?sref=9hGJlFio","bbg":"bbg://news/stories/SAHSRQT1UM0W"}},"content":[{"type":"text","value":"reported last year"}]},{"type":"text","value":", the hiccup with the new CarPlay is that the system is designed to require a bespoke interface for each car it supports. It’s not exactly plug and play like the current CarPlay. Apple and each carmaker have to sit down together and actually design a unique interface. For one, that takes time. Two, what incentive do the carmakers have to do this? The new CarPlay mostly benefits Apple and gives the company a stronghold in any vehicle that uses the software. Many automakers are loath to hand over their center consoles to a company that spent $10 billion trying to design a car that could replace them. I think CarPlay 2 — as currently designed — will be a dud. Instead, Apple should just improve the current interface. "},{"type":"br"},{"type":"br"},{"type":"text","value":"Q: "},{"type":"text","value":"What’s your take on the Apple Intelligence news notification problem?","attributes":{"emphasis":true}},{"type":"br"},{"type":"text","value":"A: For those unfamiliar with this issue: Some of the notification summaries of alerts have completely misrepresented the actual news. For example, a sports notification would indicate that a team won when it really lost. In today’s climate of mistrust, you can imagine how much of a problem this is. Apple says it’s working on a resolution but notes that users can also just disable the option. The question is whether this “fix” will actually make the feature work properly. It may just be a label making it clearer that the summaries can be inaccurate. I’m hoping we eventually get an improvement to the AI itself."}]},{"type":"ad","data":{"num":8,"pageId":"newsletter_campaign"},"content":[]},{"type":"paragraph","data":{},"content":[{"type":"text","value":"Want to send in questions?","attributes":{"strong":true}},{"type":"br"},{"type":"link","data":{"href":"mailto:mgurman1@bloomberg.net","destination":{"web":"mailto:mgurman1@bloomberg.net"}},"content":[{"type":"text","value":"Email me"}]},{"type":"text","value":", ask on the "},{"type":"link","data":{"href":"https://discord.com/invite/y7r8nzxNxH","destination":{"web":"https://discord.com/invite/y7r8nzxNxH"}},"content":[{"type":"text","value":"Power On Discord"}]},{"type":"text","value":", or you can always send me a tweet or DM @"},{"type":"link","data":{"href":"https://twitter.com/markgurman","destination":{"web":"https://twitter.com/markgurman"}},"content":[{"type":"text","value":"markgurman"}]},{"type":"text","value":"."}]},{"type":"paragraph","data":{},"content":[{"type":"text","value":"News tips?","attributes":{"strong":true}},{"type":"br"},{"type":"text","value":"I’m on Signal at markgurman.01; Telegram at GurmanMark; or ProtonMail at "},{"type":"link","data":{"href":"mailto:markgurman@protonmail.com","destination":{"web":"mailto:markgurman@protonmail.com"}},"content":[{"type":"text","value":"markgurman@protonmail.com"}]},{"type":"text","value":"."}]},{"type":"heading","data":{"level":2},"content":[{"type":"text","value":"More from Bloomberg"}]},{"type":"paragraph","data":{},"content":[{"type":"link","data":{"href":"https://www.bloomberg.com/account/newsletters/technology?utm_medium=email\u0026utm_source=newsletter\u0026utm_campaign=poweron","destination":{"web":"https://www.bloomberg.com/account/newsletters/technology?utm_medium=email\u0026utm_source=newsletter\u0026utm_campaign=poweron"}},"content":[{"type":"text","value":"Get Tech Daily"}]},{"type":"text","value":" and more Bloomberg Tech weeklies in your inbox:"}]},{"type":"list","subType":"unordered","content":[{"type":"listItem","data":{},"content":[{"type":"link","data":{"href":"https://www.bloomberg.com/account/newsletters/cyber-bulletin?utm_medium=email\u0026utm_source=newsletter\u0026utm_campaign=poweron","destination":{"web":"https://www.bloomberg.com/account/newsletters/cyber-bulletin?utm_medium=email\u0026utm_source=newsletter\u0026utm_campaign=poweron"}},"content":[{"type":"text","value":"Cyber Bulletin"}]},{"type":"text","value":" for coverage of 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AI"}]}],"data":{}},{"type":"inline-newsletter","data":{"position":"bottom"},"content":[]}],"data":{}},"brand":"technology","blensSecurities":["AAPL:US","005930:KS","GSAT:US"],"byline":"Mark Gurman","categories":["world"],"charts":[],"checksum":"1c83a6197533f62ff8feac90ec1af052","corrected":false,"disableAds":false,"disclaimer":null,"cobrand":null,"collections":{"record":{"title":"Apple","titleLink":"","slug":"apple","navLinks":[{"title":"Earnings","story":{"id":"SQT69GT1UM0W00","url":"https://www.bloomberg.com/news/articles/2025-01-30/apple-tops-sales-estimates-even-as-china-is-weaker-than-feared","__typename":"Story"},"customUrl":null,"__typename":"NavLink"},{"title":"2025 Plans","story":{"id":"SPZ84LT1UM0W00","url":"https://www.bloomberg.com/news/newsletters/2025-01-12/apple-2025-plans-iphone-17-smart-home-hub-ios-19-ai-apple-watch-ipads-m5","__typename":"Story"},"customUrl":null,"__typename":"NavLink"},{"title":"Mac Mini 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Products\u003c/span\u003e\u003cspan\u003eThe Company \u0026amp; its Products\u003c/span\u003e\u003c/a\u003e\u003ca class=\"bb-that-header__link\" href=\"https://www.bloomberg.com/professional/contact-menu/?utm_source=bloomberg-menu\u0026amp;utm_medium=bcom\u0026amp;bbgsum=DG-WS-PROF-DEMO-bbgmenu\" data-element=\"tophat-link\" data-description=\"Bloomberg Terminal Demo Request\" data-label=\"bcom\"\u003eBloomberg Terminal Demo Request\u003c/a\u003e\u003ca class=\"bb-that-header__link\" href=\"https://bba.bloomberg.net/?utm_source=bloomberg-menu\u0026amp;utm_medium=bcom\" data-element=\"tophat-link\" data-description=\"Bloomberg Anywhere Remote Login\" data-label=\"bcom\"\u003e\u003cspan\u003eBloomberg Anywhere Remote Login\u003c/span\u003e\u003cspan\u003eBloomberg Anywhere Login\u003c/span\u003e\u003c/a\u003e\u003ca class=\"bb-that-header__link\" href=\"https://www.bloomberg.com/professional/support/?utm_source=bloomberg-menu\u0026amp;utm_medium=bcom\" data-element=\"tophat-link\" data-description=\"Bloomberg Customer Support\" data-label=\"bcom\"\u003e\u003cspan\u003eBloomberg Customer Support\u003c/span\u003e\u003cspan\u003eCustomer Support\u003c/span\u003e\u003c/a\u003e \u003c/div\u003e\n\t\t\u003cdiv id=\"bb-that--container\" class=\"bb-that__sitemap bb-that--container\" tabindex=\"-1\" role=\"dialog\"\u003e\n \n \u003cul class=\"bb-that__sitemap-sections bb-that--visible-md bb-that--visible-lg\"\u003e\n \u003cli class=\"bb-that__col bb-that__col--md\"\u003e\n \u003csection class=\"bb-that-category\"\u003e\n \u003ch3 id=\"that-list--bloomberg--1\" class=\"bb-that-category__title\"\u003eBloomberg\u003c/h3\u003e\u003cdiv class=\"bb-that-category__content\"\u003e\u003cp class=\"bb-that-category__text\"\u003eConnecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world\u003c/p\u003e\u003c/div\u003e\u003c/section\u003e \u003csection class=\"bb-that-category\"\u003e\n \u003ch3 id=\"that-list--for_customers--2\" class=\"bb-that-category__title\"\u003eFor Customers\u003c/h3\u003e\u003cul class=\"bb-that-category__content\" aria-labelledby=\"that-list--for_customers--2\"\u003e\u003cli class=\"bb-that-category__item\"\u003e\u003ca class=\"bb-that-category__link\" href=\"https://bba.bloomberg.net/?utm_source=bloomberg-menu\u0026amp;utm_medium=bcom\" data-element=\"tophat-link\" data-description=\"Bloomberg Anywhere Remote Login\" data-label=\"bcom\" tabindex=\"0\"\u003eBloomberg Anywhere Remote Login\u003c/a\u003e\u003c/li\u003e\u003cli class=\"bb-that-category__item\"\u003e\u003ca class=\"bb-that-category__link\" href=\"https://www.bloomberg.com/professional/support/customer-support/software-updates/?utm_source=bloomberg-menu\u0026amp;utm_medium=bcom\" data-element=\"tophat-link\" data-description=\"Software Updates\" data-label=\"bcom\" tabindex=\"0\"\u003eSoftware Updates\u003c/a\u003e\u003c/li\u003e\u003cli class=\"bb-that-category__item\"\u003e\u003ca class=\"bb-that-category__link\" href=\"https://service.bloomberg.com/portal/sessions/new?utm_source=bloomberg-menu\u0026amp;utm_medium=bcom\" data-element=\"tophat-link\" data-description=\"Manage Products and Account Information\" data-label=\"bcom\" tabindex=\"0\"\u003eManage Products and Account Information\u003c/a\u003e\u003c/li\u003e\u003c/ul\u003e\u003c/section\u003e \u003csection class=\"bb-that-category\"\u003e\n \u003ch3 id=\"that-list--support--3\" class=\"bb-that-category__title\"\u003eSupport\u003c/h3\u003e\u003cdiv class=\"bb-that-category__content\"\u003e\u003cp class=\"bb-that-category__text\"\u003e\u003cspan\u003eAmericas\u003c/span\u003e+1 212 318 2000\u003c/p\u003e\u003cp class=\"bb-that-category__text\"\u003e\u003cspan\u003eEMEA\u003c/span\u003e+44 20 7330 7500\u003c/p\u003e\u003cp class=\"bb-that-category__text\"\u003e\u003cspan\u003eAsia Pacific\u003c/span\u003e+65 6212 1000\u003c/p\u003e\u003c/div\u003e\u003c/section\u003e \u003c/li\u003e\n \u003cli class=\"bb-that__col bb-that__col--md\"\u003e\n \u003csection class=\"bb-that-category\"\u003e\n \u003ch3 id=\"that-list--company--4\" class=\"bb-that-category__title\"\u003eCompany\u003c/h3\u003e\u003cul class=\"bb-that-category__content\" aria-labelledby=\"that-list--company--4\"\u003e\u003cli class=\"bb-that-category__item\"\u003e\u003ca class=\"bb-that-category__link\" href=\"https://www.bloomberg.com/company/?utm_source=bloomberg-menu\u0026amp;utm_medium=bcom\" data-element=\"tophat-link\" data-description=\"About\" data-label=\"bcom\" tabindex=\"0\"\u003eAbout\u003c/a\u003e\u003c/li\u003e\u003cli class=\"bb-that-category__item\"\u003e\u003ca class=\"bb-that-category__link\" href=\"https://www.bloomberg.com/company/what-we-do/?utm_source=bloomberg-menu\u0026amp;utm_medium=bcom\" data-element=\"tophat-link\" data-description=\"Careers\" data-label=\"bcom\" tabindex=\"0\"\u003eCareers\u003c/a\u003e\u003c/li\u003e\u003cli class=\"bb-that-category__item\"\u003e\u003ca class=\"bb-that-category__link\" href=\"https://www.bloomberg.com/company/diversity-inclusion/?utm_source=bloomberg-menu\u0026amp;utm_medium=bcom\" data-element=\"tophat-link\" data-description=\"Diversity and Inclusion\" data-label=\"bcom\" tabindex=\"0\"\u003eDiversity and Inclusion\u003c/a\u003e\u003c/li\u003e\u003cli class=\"bb-that-category__item\"\u003e\u003ca class=\"bb-that-category__link\" href=\"https://www.bloomberg.com/company/values/tech-at-bloomberg/?utm_source=bloomberg-menu\u0026amp;utm_medium=bcom\" data-element=\"tophat-link\" data-description=\"Tech At Bloomberg\" data-label=\"bcom\" tabindex=\"0\"\u003eTech At Bloomberg\u003c/a\u003e\u003c/li\u003e\u003cli class=\"bb-that-category__item\"\u003e\u003ca class=\"bb-that-category__link\" href=\"https://www.bloomberg.com/company/philanthropy/?utm_source=bloomberg-menu\u0026amp;utm_medium=bcom\" data-element=\"tophat-link\" data-description=\"Philanthropy\" data-label=\"bcom\" tabindex=\"0\"\u003ePhilanthropy\u003c/a\u003e\u003c/li\u003e\u003cli class=\"bb-that-category__item\"\u003e\u003ca class=\"bb-that-category__link\" href=\"https://www.bloomberg.com/company/sustainability/?utm_source=bloomberg-menu\u0026amp;utm_medium=bcom\" data-element=\"tophat-link\" data-description=\"Sustainability\" data-label=\"bcom\" tabindex=\"0\"\u003eSustainability\u003c/a\u003e\u003c/li\u003e\u003cli class=\"bb-that-category__item\"\u003e\u003ca class=\"bb-that-category__link\" href=\"https://www.bloomberg.com/london/?utm_source=bloomberg-menu\u0026amp;utm_medium=bcom\" data-element=\"tophat-link\" data-description=\"Bloomberg London\" data-label=\"bcom\" tabindex=\"0\"\u003eBloomberg London\u003c/a\u003e\u003c/li\u003e\u003cli class=\"bb-that-category__item\"\u003e\u003ca class=\"bb-that-category__link\" href=\"https://www.bloomberg.com/company/values/tech-at-bloomberg/bloomberg-beta/?utm_source=bloomberg-menu\u0026amp;utm_medium=bcom\" data-element=\"tophat-link\" data-description=\"Bloomberg Beta\" data-label=\"bcom\" tabindex=\"0\"\u003eBloomberg Beta\u003c/a\u003e\u003c/li\u003e\u003c/ul\u003e\u003c/section\u003e \u003csection class=\"bb-that-category\"\u003e\n \u003ch3 id=\"that-list--communications--5\" class=\"bb-that-category__title\"\u003eCommunications\u003c/h3\u003e\u003cul class=\"bb-that-category__content\" aria-labelledby=\"that-list--communications--5\"\u003e\u003cli class=\"bb-that-category__item\"\u003e\u003ca class=\"bb-that-category__link\" href=\"https://www.bloomberg.com/company/announcements/?utm_source=bloomberg-menu\u0026amp;utm_medium=bcom\" data-element=\"tophat-link\" data-description=\"Press Announcements\" data-label=\"bcom\" tabindex=\"0\"\u003ePress Announcements\u003c/a\u003e\u003c/li\u003e\u003cli class=\"bb-that-category__item\"\u003e\u003ca class=\"bb-that-category__link\" href=\"https://www.bloomberg.com/company/press-contacts/?utm_source=bloomberg-menu\u0026amp;utm_medium=bcom\" data-element=\"tophat-link\" data-description=\"Press Contacts\" data-label=\"bcom\" tabindex=\"0\"\u003ePress Contacts\u003c/a\u003e\u003c/li\u003e\u003c/ul\u003e\u003c/section\u003e \u003csection class=\"bb-that-category\"\u003e\n \u003ch3 id=\"that-list--follow--6\" class=\"bb-that-category__title\"\u003eFollow\u003c/h3\u003e\u003cul class=\"bb-that-category__content\" aria-labelledby=\"that-list--follow--6\"\u003e\u003cli class=\"bb-that-category__item\"\u003e\u003ca href=\"https://www.facebook.com/Bloomberglp\" class=\"bb-that-category__social-link bb-that--icon-facebook\" data-element=\"tophat-link\" data-description=\"Facebook\" data-label=\"bcom\" target=\"_blank\" rel=\"noopener\" tabindex=\"0\"\u003eFacebook\u003c/a\u003e\u003c/li\u003e\u003cli class=\"bb-that-category__item\"\u003e\u003ca href=\"https://www.instagram.com/bloomberg/\" class=\"bb-that-category__social-link bb-that--icon-instagram\" data-element=\"tophat-link\" data-description=\"Instagram\" data-label=\"bcom\" target=\"_blank\" rel=\"noopener\" tabindex=\"0\"\u003eInstagram\u003c/a\u003e\u003c/li\u003e\u003cli class=\"bb-that-category__item\"\u003e\u003ca href=\"https://www.linkedin.com/company/2494\" class=\"bb-that-category__social-link bb-that--icon-linkedin\" data-element=\"tophat-link\" data-description=\"LinkedIn\" data-label=\"bcom\" target=\"_blank\" rel=\"noopener\" tabindex=\"0\"\u003eLinkedIn\u003c/a\u003e\u003c/li\u003e\u003cli class=\"bb-that-category__item\"\u003e\u003ca href=\"https://twitter.com/bloomberg\" class=\"bb-that-category__social-link bb-that--icon-twitter\" data-element=\"tophat-link\" data-description=\"Twitter\" data-label=\"bcom\" target=\"_blank\" rel=\"noopener\" tabindex=\"0\"\u003eTwitter\u003c/a\u003e\u003c/li\u003e\u003cli class=\"bb-that-category__item\"\u003e\u003ca href=\"https://www.youtube.com/@bloomberglp\" class=\"bb-that-category__social-link bb-that--icon-youtube\" data-element=\"tophat-link\" data-description=\"YouTube\" data-label=\"bcom\" target=\"_blank\" rel=\"noopener\" tabindex=\"0\"\u003eYouTube\u003c/a\u003e\u003c/li\u003e\u003c/ul\u003e\u003c/section\u003e \u003c/li\u003e\n \u003cli class=\"bb-that__col bb-that__col--md\"\u003e\n \u003csection class=\"bb-that-category\"\u003e\n \u003ch3 id=\"that-list--products--7\" class=\"bb-that-category__title\"\u003eProducts\u003c/h3\u003e\u003cul class=\"bb-that-category__content\" aria-labelledby=\"that-list--products--7\"\u003e\u003cli class=\"bb-that-category__item\"\u003e\u003ca class=\"bb-that-category__link\" href=\"https://www.bloomberg.com/professional/products/bloomberg-terminal/?utm_source=bloomberg-menu\u0026amp;utm_medium=bcom\" data-element=\"tophat-link\" data-description=\"Bloomberg Terminal\" data-label=\"bcom\" tabindex=\"0\"\u003eBloomberg Terminal\u003c/a\u003e\u003c/li\u003e\u003cli class=\"bb-that-category__item\"\u003e\u003ca class=\"bb-that-category__link\" href=\"https://www.bloomberg.com/professional/products/data/?utm_source=bloomberg-menu\u0026amp;utm_medium=bcom\" data-element=\"tophat-link\" data-description=\"Data\" data-label=\"bcom\" tabindex=\"0\"\u003eData\u003c/a\u003e\u003c/li\u003e\u003cli class=\"bb-that-category__item\"\u003e\u003ca class=\"bb-that-category__link\" href=\"https://www.bloomberg.com/professional/products/trading/?utm_source=bloomberg-menu\u0026amp;utm_medium=bcom\" data-element=\"tophat-link\" data-description=\"Trading\" data-label=\"bcom\" tabindex=\"0\"\u003eTrading\u003c/a\u003e\u003c/li\u003e\u003cli class=\"bb-that-category__item\"\u003e\u003ca class=\"bb-that-category__link\" href=\"https://www.bloomberg.com/professional/products/risk/?utm_source=bloomberg-menu\u0026amp;utm_medium=bcom\" data-element=\"tophat-link\" data-description=\"Risk\" data-label=\"bcom\" tabindex=\"0\"\u003eRisk\u003c/a\u003e\u003c/li\u003e\u003cli class=\"bb-that-category__item\"\u003e\u003ca class=\"bb-that-category__link\" href=\"https://www.bloomberg.com/professional/products/compliance/?utm_source=bloomberg-menu\u0026amp;utm_medium=bcom\" data-element=\"tophat-link\" data-description=\"Compliance\" data-label=\"bcom\" tabindex=\"0\"\u003eCompliance\u003c/a\u003e\u003c/li\u003e\u003cli class=\"bb-that-category__item\"\u003e\u003ca class=\"bb-that-category__link\" href=\"https://www.bloomberg.com/professional/products/indices/?utm_source=bloomberg-menu\u0026amp;utm_medium=bcom\" data-element=\"tophat-link\" data-description=\"Indices\" data-label=\"bcom\" tabindex=\"0\"\u003eIndices\u003c/a\u003e\u003c/li\u003e\u003c/ul\u003e\u003c/section\u003e \u003csection class=\"bb-that-category\"\u003e\n \u003ch3 id=\"that-list--industry_products--8\" class=\"bb-that-category__title\"\u003eIndustry Products\u003c/h3\u003e\u003cul class=\"bb-that-category__content\" aria-labelledby=\"that-list--industry_products--8\"\u003e\u003cli class=\"bb-that-category__item\"\u003e\u003ca class=\"bb-that-category__link\" href=\"https://pro.bloomberglaw.com/?utm_source=bloomberg-menu\u0026amp;utm_medium=bcom\" data-element=\"tophat-link\" data-description=\"Bloomberg Law\" data-label=\"bcom\" tabindex=\"0\"\u003eBloomberg Law\u003c/a\u003e\u003c/li\u003e\u003cli class=\"bb-that-category__item\"\u003e\u003ca class=\"bb-that-category__link\" href=\"https://pro.bloombergtax.com/?utm_source=bloomberg-menu\u0026amp;utm_medium=bcom\" data-element=\"tophat-link\" data-description=\"Bloomberg Tax\" data-label=\"bcom\" tabindex=\"0\"\u003eBloomberg Tax\u003c/a\u003e\u003c/li\u003e\u003cli class=\"bb-that-category__item\"\u003e\u003ca class=\"bb-that-category__link\" href=\"https://about.bgov.com/?utm_source=bloomberg-menu\u0026amp;utm_medium=bcom\" data-element=\"tophat-link\" data-description=\"Bloomberg Government\" data-label=\"bcom\" tabindex=\"0\"\u003eBloomberg Government\u003c/a\u003e\u003c/li\u003e\u003cli class=\"bb-that-category__item\"\u003e\u003ca class=\"bb-that-category__link\" href=\"https://about.bnef.com/?utm_source=bloomberg-menu\u0026amp;utm_medium=bcom\" data-element=\"tophat-link\" data-description=\"BloombergNEF\" data-label=\"bcom\" tabindex=\"0\"\u003eBloombergNEF\u003c/a\u003e\u003c/li\u003e\u003c/ul\u003e\u003c/section\u003e \u003c/li\u003e\n \u003cli class=\"bb-that__col bb-that__col--md\"\u003e\n \u003csection class=\"bb-that-category\"\u003e\n \u003ch3 id=\"that-list--media--9\" class=\"bb-that-category__title\"\u003eMedia\u003c/h3\u003e\u003cul class=\"bb-that-category__content\" aria-labelledby=\"that-list--media--9\"\u003e\u003cli class=\"bb-that-category__item\"\u003e\u003ca class=\"bb-that-category__link\" href=\"https://www.bloomberg.com/markets/?utm_source=bloomberg-menu\u0026amp;utm_medium=bcom\" data-element=\"tophat-link\" data-description=\"Bloomberg Markets\" data-label=\"bcom\" tabindex=\"0\"\u003eBloomberg Markets\u003c/a\u003e\u003c/li\u003e\u003cli class=\"bb-that-category__item\"\u003e\u003ca class=\"bb-that-category__link\" href=\"https://www.bloomberg.com/technology/?utm_source=bloomberg-menu\u0026amp;utm_medium=bcom\" data-element=\"tophat-link\" data-description=\"Bloomberg Technology\" data-label=\"bcom\" tabindex=\"0\"\u003eBloomberg Technology\u003c/a\u003e\u003c/li\u003e\u003cli class=\"bb-that-category__item\"\u003e\u003ca class=\"bb-that-category__link\" href=\"https://www.bloomberg.com/pursuits/?utm_source=bloomberg-menu\u0026amp;utm_medium=bcom\" data-element=\"tophat-link\" data-description=\"Bloomberg Pursuits\" data-label=\"bcom\" tabindex=\"0\"\u003eBloomberg Pursuits\u003c/a\u003e\u003c/li\u003e\u003cli class=\"bb-that-category__item\"\u003e\u003ca class=\"bb-that-category__link\" href=\"https://www.bloomberg.com/politics/?utm_source=bloomberg-menu\u0026amp;utm_medium=bcom\" data-element=\"tophat-link\" data-description=\"Bloomberg Politics\" data-label=\"bcom\" tabindex=\"0\"\u003eBloomberg Politics\u003c/a\u003e\u003c/li\u003e\u003cli class=\"bb-that-category__item\"\u003e\u003ca class=\"bb-that-category__link\" href=\"https://www.bloomberg.com/opinion/?utm_source=bloomberg-menu\u0026amp;utm_medium=bcom\" data-element=\"tophat-link\" data-description=\"Bloomberg Opinion\" data-label=\"bcom\" tabindex=\"0\"\u003eBloomberg Opinion\u003c/a\u003e\u003c/li\u003e\u003cli class=\"bb-that-category__item\"\u003e\u003ca class=\"bb-that-category__link\" href=\"https://www.bloomberg.com/businessweek/?utm_source=bloomberg-menu\u0026amp;utm_medium=bcom\" data-element=\"tophat-link\" data-description=\"Bloomberg Businessweek\" data-label=\"bcom\" tabindex=\"0\"\u003eBloomberg Businessweek\u003c/a\u003e\u003c/li\u003e\u003cli class=\"bb-that-category__item\"\u003e\u003ca class=\"bb-that-category__link\" href=\"https://www.bloomberglive.com/?utm_source=bloomberg-menu\u0026amp;utm_medium=bcom\" data-element=\"tophat-link\" data-description=\"Bloomberg Live Conferences\" data-label=\"bcom\" tabindex=\"0\"\u003eBloomberg Live Conferences\u003c/a\u003e\u003c/li\u003e\u003cli class=\"bb-that-category__item\"\u003e\u003ca class=\"bb-that-category__link\" href=\"https://www.bloombergradio.com/?utm_source=bloomberg-menu\u0026amp;utm_medium=bcom\" data-element=\"tophat-link\" data-description=\"Bloomberg Radio\" data-label=\"bcom\" tabindex=\"0\"\u003eBloomberg Radio\u003c/a\u003e\u003c/li\u003e\u003cli class=\"bb-that-category__item\"\u003e\u003ca class=\"bb-that-category__link\" href=\"https://www.bloomberg.com/live?utm_source=bloomberg-menu\u0026amp;utm_medium=bcom\" data-element=\"tophat-link\" data-description=\"Bloomberg Television\" data-label=\"bcom\" tabindex=\"0\"\u003eBloomberg Television\u003c/a\u003e\u003c/li\u003e\u003cli class=\"bb-that-category__item\"\u003e\u003ca class=\"bb-that-category__link\" href=\"https://www.bloomberg.com/company/news-bureaus/?utm_source=bloomberg-menu\u0026amp;utm_medium=bcom\" data-element=\"tophat-link\" data-description=\"News Bureaus\" data-label=\"bcom\" tabindex=\"0\"\u003eNews Bureaus\u003c/a\u003e\u003c/li\u003e\u003c/ul\u003e\u003c/section\u003e \u003csection class=\"bb-that-category\"\u003e\n \u003ch3 id=\"that-list--media_services--10\" class=\"bb-that-category__title\"\u003eMedia Services\u003c/h3\u003e\u003cul class=\"bb-that-category__content\" aria-labelledby=\"that-list--media_services--10\"\u003e\u003cli class=\"bb-that-category__item\"\u003e\u003ca class=\"bb-that-category__link\" href=\"https://www.bloomberg.com/distribution?utm_source=bloomberg-menu\u0026amp;utm_medium=bcom\" data-element=\"tophat-link\" data-description=\"Bloomberg Media Distribution\" data-label=\"bcom\" tabindex=\"0\"\u003eBloomberg Media Distribution\u003c/a\u003e\u003c/li\u003e\u003cli class=\"bb-that-category__item\"\u003e\u003ca class=\"bb-that-category__link\" href=\"https://www.bloombergmedia.com/?utm_source=bloomberg-menu\u0026amp;utm_medium=bcom\" data-element=\"tophat-link\" data-description=\"Advertising\" data-label=\"bcom\" tabindex=\"0\"\u003eAdvertising\u003c/a\u003e\u003c/li\u003e\u003c/ul\u003e\u003c/section\u003e \u003c/li\u003e\n \u003c/ul\u003e\n\n \u003cul class=\"bb-that__sitemap-sections bb-that--visible-sm\"\u003e\n \u003cli class=\"bb-that__col bb-that__col--sm\"\u003e\n \u003csection class=\"bb-that-category\"\u003e\n \u003ch3 id=\"that-list--company--11\" class=\"bb-that-category__title\"\u003eCompany\u003c/h3\u003e\u003cul class=\"bb-that-category__content\" aria-labelledby=\"that-list--company--11\"\u003e\u003cli class=\"bb-that-category__item\"\u003e\u003ca class=\"bb-that-category__link\" href=\"https://www.bloomberg.com/company/?utm_source=bloomberg-menu\u0026amp;utm_medium=bcom\" data-element=\"tophat-link\" data-description=\"About\" data-label=\"bcom\" tabindex=\"0\"\u003eAbout\u003c/a\u003e\u003c/li\u003e\u003cli class=\"bb-that-category__item\"\u003e\u003ca class=\"bb-that-category__link\" href=\"https://www.bloomberg.com/company/what-we-do/?utm_source=bloomberg-menu\u0026amp;utm_medium=bcom\" data-element=\"tophat-link\" data-description=\"Careers\" data-label=\"bcom\" tabindex=\"0\"\u003eCareers\u003c/a\u003e\u003c/li\u003e\u003cli class=\"bb-that-category__item\"\u003e\u003ca class=\"bb-that-category__link\" href=\"https://www.bloomberg.com/company/diversity-inclusion/?utm_source=bloomberg-menu\u0026amp;utm_medium=bcom\" data-element=\"tophat-link\" data-description=\"Diversity and Inclusion\" data-label=\"bcom\" tabindex=\"0\"\u003eDiversity and Inclusion\u003c/a\u003e\u003c/li\u003e\u003cli class=\"bb-that-category__item\"\u003e\u003ca class=\"bb-that-category__link\" href=\"https://www.bloomberg.com/company/values/tech-at-bloomberg/?utm_source=bloomberg-menu\u0026amp;utm_medium=bcom\" data-element=\"tophat-link\" data-description=\"Tech At Bloomberg\" data-label=\"bcom\" tabindex=\"0\"\u003eTech At Bloomberg\u003c/a\u003e\u003c/li\u003e\u003cli class=\"bb-that-category__item\"\u003e\u003ca class=\"bb-that-category__link\" href=\"https://www.bloomberg.com/company/philanthropy/?utm_source=bloomberg-menu\u0026amp;utm_medium=bcom\" data-element=\"tophat-link\" data-description=\"Philanthropy\" data-label=\"bcom\" tabindex=\"0\"\u003ePhilanthropy\u003c/a\u003e\u003c/li\u003e\u003cli class=\"bb-that-category__item\"\u003e\u003ca class=\"bb-that-category__link\" href=\"https://www.bloomberg.com/company/sustainability/?utm_source=bloomberg-menu\u0026amp;utm_medium=bcom\" data-element=\"tophat-link\" data-description=\"Sustainability\" data-label=\"bcom\" tabindex=\"0\"\u003eSustainability\u003c/a\u003e\u003c/li\u003e\u003cli class=\"bb-that-category__item\"\u003e\u003ca class=\"bb-that-category__link\" href=\"https://www.bloomberg.com/london/?utm_source=bloomberg-menu\u0026amp;utm_medium=bcom\" data-element=\"tophat-link\" data-description=\"Bloomberg London\" data-label=\"bcom\" tabindex=\"0\"\u003eBloomberg London\u003c/a\u003e\u003c/li\u003e\u003cli class=\"bb-that-category__item\"\u003e\u003ca class=\"bb-that-category__link\" href=\"https://www.bloomberg.com/company/values/tech-at-bloomberg/bloomberg-beta/?utm_source=bloomberg-menu\u0026amp;utm_medium=bcom\" data-element=\"tophat-link\" data-description=\"Bloomberg Beta\" data-label=\"bcom\" tabindex=\"0\"\u003eBloomberg Beta\u003c/a\u003e\u003c/li\u003e\u003c/ul\u003e\u003c/section\u003e \u003csection class=\"bb-that-category\"\u003e\n \u003ch3 id=\"that-list--communications--12\" class=\"bb-that-category__title\"\u003eCommunications\u003c/h3\u003e\u003cul class=\"bb-that-category__content\" aria-labelledby=\"that-list--communications--12\"\u003e\u003cli class=\"bb-that-category__item\"\u003e\u003ca class=\"bb-that-category__link\" href=\"https://www.bloomberg.com/company/announcements/?utm_source=bloomberg-menu\u0026amp;utm_medium=bcom\" data-element=\"tophat-link\" data-description=\"Press Announcements\" data-label=\"bcom\" tabindex=\"0\"\u003ePress Announcements\u003c/a\u003e\u003c/li\u003e\u003cli class=\"bb-that-category__item\"\u003e\u003ca class=\"bb-that-category__link\" href=\"https://www.bloomberg.com/company/press-contacts/?utm_source=bloomberg-menu\u0026amp;utm_medium=bcom\" data-element=\"tophat-link\" data-description=\"Press Contacts\" data-label=\"bcom\" tabindex=\"0\"\u003ePress Contacts\u003c/a\u003e\u003c/li\u003e\u003c/ul\u003e\u003c/section\u003e \u003csection class=\"bb-that-category\"\u003e\n \u003ch3 id=\"that-list--follow--13\" class=\"bb-that-category__title\"\u003eFollow\u003c/h3\u003e\u003cul class=\"bb-that-category__content\" aria-labelledby=\"that-list--follow--13\"\u003e\u003cli class=\"bb-that-category__item\"\u003e\u003ca href=\"https://www.facebook.com/Bloomberglp\" class=\"bb-that-category__social-link bb-that--icon-facebook\" data-element=\"tophat-link\" data-description=\"Facebook\" data-label=\"bcom\" target=\"_blank\" rel=\"noopener\" tabindex=\"0\"\u003eFacebook\u003c/a\u003e\u003c/li\u003e\u003cli class=\"bb-that-category__item\"\u003e\u003ca href=\"https://www.instagram.com/bloomberg/\" class=\"bb-that-category__social-link bb-that--icon-instagram\" data-element=\"tophat-link\" data-description=\"Instagram\" data-label=\"bcom\" target=\"_blank\" rel=\"noopener\" tabindex=\"0\"\u003eInstagram\u003c/a\u003e\u003c/li\u003e\u003cli class=\"bb-that-category__item\"\u003e\u003ca href=\"https://www.linkedin.com/company/2494\" class=\"bb-that-category__social-link bb-that--icon-linkedin\" data-element=\"tophat-link\" data-description=\"LinkedIn\" data-label=\"bcom\" target=\"_blank\" rel=\"noopener\" tabindex=\"0\"\u003eLinkedIn\u003c/a\u003e\u003c/li\u003e\u003cli class=\"bb-that-category__item\"\u003e\u003ca href=\"https://twitter.com/bloomberg\" class=\"bb-that-category__social-link bb-that--icon-twitter\" data-element=\"tophat-link\" data-description=\"Twitter\" data-label=\"bcom\" target=\"_blank\" rel=\"noopener\" tabindex=\"0\"\u003eTwitter\u003c/a\u003e\u003c/li\u003e\u003cli class=\"bb-that-category__item\"\u003e\u003ca href=\"https://www.youtube.com/@bloomberglp\" class=\"bb-that-category__social-link bb-that--icon-youtube\" data-element=\"tophat-link\" data-description=\"YouTube\" data-label=\"bcom\" target=\"_blank\" rel=\"noopener\" tabindex=\"0\"\u003eYouTube\u003c/a\u003e\u003c/li\u003e\u003c/ul\u003e\u003c/section\u003e \u003c/li\u003e\n \u003cli class=\"bb-that__col bb-that__col--sm\"\u003e\n \u003csection class=\"bb-that-category\"\u003e\n \u003ch3 id=\"that-list--products--14\" class=\"bb-that-category__title\"\u003eProducts\u003c/h3\u003e\u003cul class=\"bb-that-category__content\" aria-labelledby=\"that-list--products--14\"\u003e\u003cli class=\"bb-that-category__item\"\u003e\u003ca class=\"bb-that-category__link\" href=\"https://www.bloomberg.com/professional/products/bloomberg-terminal/?utm_source=bloomberg-menu\u0026amp;utm_medium=bcom\" data-element=\"tophat-link\" data-description=\"Bloomberg Terminal\" data-label=\"bcom\" tabindex=\"0\"\u003eBloomberg Terminal\u003c/a\u003e\u003c/li\u003e\u003cli class=\"bb-that-category__item\"\u003e\u003ca class=\"bb-that-category__link\" href=\"https://www.bloomberg.com/professional/products/data/?utm_source=bloomberg-menu\u0026amp;utm_medium=bcom\" data-element=\"tophat-link\" data-description=\"Data\" data-label=\"bcom\" tabindex=\"0\"\u003eData\u003c/a\u003e\u003c/li\u003e\u003cli class=\"bb-that-category__item\"\u003e\u003ca class=\"bb-that-category__link\" href=\"https://www.bloomberg.com/professional/products/trading/?utm_source=bloomberg-menu\u0026amp;utm_medium=bcom\" data-element=\"tophat-link\" data-description=\"Trading\" data-label=\"bcom\" tabindex=\"0\"\u003eTrading\u003c/a\u003e\u003c/li\u003e\u003cli class=\"bb-that-category__item\"\u003e\u003ca class=\"bb-that-category__link\" href=\"https://www.bloomberg.com/professional/products/risk/?utm_source=bloomberg-menu\u0026amp;utm_medium=bcom\" data-element=\"tophat-link\" data-description=\"Risk\" data-label=\"bcom\" tabindex=\"0\"\u003eRisk\u003c/a\u003e\u003c/li\u003e\u003cli class=\"bb-that-category__item\"\u003e\u003ca class=\"bb-that-category__link\" href=\"https://www.bloomberg.com/professional/products/compliance/?utm_source=bloomberg-menu\u0026amp;utm_medium=bcom\" data-element=\"tophat-link\" data-description=\"Compliance\" data-label=\"bcom\" tabindex=\"0\"\u003eCompliance\u003c/a\u003e\u003c/li\u003e\u003cli class=\"bb-that-category__item\"\u003e\u003ca class=\"bb-that-category__link\" href=\"https://www.bloomberg.com/professional/products/indices/?utm_source=bloomberg-menu\u0026amp;utm_medium=bcom\" data-element=\"tophat-link\" data-description=\"Indices\" data-label=\"bcom\" tabindex=\"0\"\u003eIndices\u003c/a\u003e\u003c/li\u003e\u003c/ul\u003e\u003c/section\u003e \u003csection class=\"bb-that-category\"\u003e\n \u003ch3 id=\"that-list--industry_products--15\" class=\"bb-that-category__title\"\u003eIndustry Products\u003c/h3\u003e\u003cul class=\"bb-that-category__content\" aria-labelledby=\"that-list--industry_products--15\"\u003e\u003cli class=\"bb-that-category__item\"\u003e\u003ca class=\"bb-that-category__link\" href=\"https://pro.bloomberglaw.com/?utm_source=bloomberg-menu\u0026amp;utm_medium=bcom\" data-element=\"tophat-link\" data-description=\"Bloomberg Law\" data-label=\"bcom\" tabindex=\"0\"\u003eBloomberg Law\u003c/a\u003e\u003c/li\u003e\u003cli class=\"bb-that-category__item\"\u003e\u003ca class=\"bb-that-category__link\" href=\"https://pro.bloombergtax.com/?utm_source=bloomberg-menu\u0026amp;utm_medium=bcom\" data-element=\"tophat-link\" data-description=\"Bloomberg Tax\" data-label=\"bcom\" tabindex=\"0\"\u003eBloomberg Tax\u003c/a\u003e\u003c/li\u003e\u003cli class=\"bb-that-category__item\"\u003e\u003ca class=\"bb-that-category__link\" href=\"https://about.bgov.com/?utm_source=bloomberg-menu\u0026amp;utm_medium=bcom\" data-element=\"tophat-link\" data-description=\"Bloomberg Government\" data-label=\"bcom\" tabindex=\"0\"\u003eBloomberg Government\u003c/a\u003e\u003c/li\u003e\u003cli class=\"bb-that-category__item\"\u003e\u003ca class=\"bb-that-category__link\" href=\"https://pro.bloombergenvironment.com/?utm_source=bloomberg-menu\u0026amp;utm_medium=bcom\" data-element=\"tophat-link\" data-description=\"Bloomberg Environment\" data-label=\"bcom\" tabindex=\"0\"\u003eBloomberg Environment\u003c/a\u003e\u003c/li\u003e\u003cli class=\"bb-that-category__item\"\u003e\u003ca class=\"bb-that-category__link\" href=\"https://about.bnef.com/?utm_source=bloomberg-menu\u0026amp;utm_medium=bcom\" data-element=\"tophat-link\" data-description=\"BloombergNEF\" data-label=\"bcom\" tabindex=\"0\"\u003eBloombergNEF\u003c/a\u003e\u003c/li\u003e\u003c/ul\u003e\u003c/section\u003e \u003c/li\u003e\n \u003cli class=\"bb-that__col bb-that__col--sm\"\u003e\n \u003csection class=\"bb-that-category\"\u003e\n \u003ch3 id=\"that-list--media--16\" class=\"bb-that-category__title\"\u003eMedia\u003c/h3\u003e\u003cul class=\"bb-that-category__content\" aria-labelledby=\"that-list--media--16\"\u003e\u003cli class=\"bb-that-category__item\"\u003e\u003ca class=\"bb-that-category__link\" href=\"https://www.bloomberg.com/markets/?utm_source=bloomberg-menu\u0026amp;utm_medium=bcom\" data-element=\"tophat-link\" data-description=\"Bloomberg Markets\" data-label=\"bcom\" tabindex=\"0\"\u003eBloomberg Markets\u003c/a\u003e\u003c/li\u003e\u003cli class=\"bb-that-category__item\"\u003e\u003ca class=\"bb-that-category__link\" href=\"https://www.bloomberg.com/technology/?utm_source=bloomberg-menu\u0026amp;utm_medium=bcom\" data-element=\"tophat-link\" data-description=\"Bloomberg[br] Technology\" data-label=\"bcom\" tabindex=\"0\"\u003eBloomberg\u003cbr /\u003e Technology\u003c/a\u003e\u003c/li\u003e\u003cli class=\"bb-that-category__item\"\u003e\u003ca class=\"bb-that-category__link\" href=\"https://www.bloomberg.com/pursuits/?utm_source=bloomberg-menu\u0026amp;utm_medium=bcom\" data-element=\"tophat-link\" data-description=\"Bloomberg Pursuits\" data-label=\"bcom\" tabindex=\"0\"\u003eBloomberg Pursuits\u003c/a\u003e\u003c/li\u003e\u003cli class=\"bb-that-category__item\"\u003e\u003ca class=\"bb-that-category__link\" href=\"https://www.bloomberg.com/politics/?utm_source=bloomberg-menu\u0026amp;utm_medium=bcom\" data-element=\"tophat-link\" data-description=\"Bloomberg Politics\" data-label=\"bcom\" tabindex=\"0\"\u003eBloomberg Politics\u003c/a\u003e\u003c/li\u003e\u003cli class=\"bb-that-category__item\"\u003e\u003ca class=\"bb-that-category__link\" href=\"https://www.bloomberg.com/opinion/?utm_source=bloomberg-menu\u0026amp;utm_medium=bcom\" data-element=\"tophat-link\" data-description=\"Bloomberg Opinion\" data-label=\"bcom\" tabindex=\"0\"\u003eBloomberg Opinion\u003c/a\u003e\u003c/li\u003e\u003cli class=\"bb-that-category__item\"\u003e\u003ca class=\"bb-that-category__link\" href=\"https://www.bloomberg.com/businessweek/?utm_source=bloomberg-menu\u0026amp;utm_medium=bcom\" data-element=\"tophat-link\" data-description=\"Bloomberg[br] Businessweek\" data-label=\"bcom\" tabindex=\"0\"\u003eBloomberg\u003cbr /\u003e Businessweek\u003c/a\u003e\u003c/li\u003e\u003cli class=\"bb-that-category__item\"\u003e\u003ca class=\"bb-that-category__link\" href=\"https://www.bloomberglive.com/?utm_source=bloomberg-menu\u0026amp;utm_medium=bcom\" data-element=\"tophat-link\" data-description=\"Bloomberg Live Conferences\" data-label=\"bcom\" tabindex=\"0\"\u003eBloomberg Live Conferences\u003c/a\u003e\u003c/li\u003e\u003cli class=\"bb-that-category__item\"\u003e\u003ca class=\"bb-that-category__link\" href=\"https://www.bloombergradio.com/?utm_source=bloomberg-menu\u0026amp;utm_medium=bcom\" data-element=\"tophat-link\" data-description=\"Bloomberg Radio\" data-label=\"bcom\" tabindex=\"0\"\u003eBloomberg Radio\u003c/a\u003e\u003c/li\u003e\u003cli class=\"bb-that-category__item\"\u003e\u003ca class=\"bb-that-category__link\" href=\"https://www.bloomberg.com/live?utm_source=bloomberg-menu\u0026amp;utm_medium=bcom\" data-element=\"tophat-link\" data-description=\"Bloomberg Television\" data-label=\"bcom\" tabindex=\"0\"\u003eBloomberg Television\u003c/a\u003e\u003c/li\u003e\u003cli class=\"bb-that-category__item\"\u003e\u003ca class=\"bb-that-category__link\" href=\"https://www.bloomberg.com/company/news-bureaus/?utm_source=bloomberg-menu\u0026amp;utm_medium=bcom\" data-element=\"tophat-link\" data-description=\"News Bureaus\" data-label=\"bcom\" tabindex=\"0\"\u003eNews Bureaus\u003c/a\u003e\u003c/li\u003e\u003c/ul\u003e\u003c/section\u003e \u003csection class=\"bb-that-category\"\u003e\n \u003ch3 id=\"that-list--media_services--17\" class=\"bb-that-category__title\"\u003eMedia Services\u003c/h3\u003e\u003cul class=\"bb-that-category__content\" aria-labelledby=\"that-list--media_services--17\"\u003e\u003cli class=\"bb-that-category__item\"\u003e\u003ca class=\"bb-that-category__link\" href=\"https://www.bloomberg.com/distribution?utm_source=bloomberg-menu\u0026amp;utm_medium=bcom\" data-element=\"tophat-link\" data-description=\"Bloomberg Media Distribution\" data-label=\"bcom\" tabindex=\"0\"\u003eBloomberg Media Distribution\u003c/a\u003e\u003c/li\u003e\u003cli class=\"bb-that-category__item\"\u003e\u003ca class=\"bb-that-category__link\" href=\"https://www.bloombergmedia.com/?utm_source=bloomberg-menu\u0026amp;utm_medium=bcom\" data-element=\"tophat-link\" data-description=\"Advertising\" data-label=\"bcom\" tabindex=\"0\"\u003eAdvertising\u003c/a\u003e\u003c/li\u003e\u003c/ul\u003e\u003c/section\u003e \u003c/li\u003e\n \u003cli class=\"bb-that__col bb-that__col--sm\"\u003e\n \u003csection class=\"bb-that-category\"\u003e\n \u003ch3 id=\"that-list--bloomberg--18\" class=\"bb-that-category__title\"\u003eBloomberg\u003c/h3\u003e\u003cdiv class=\"bb-that-category__content\"\u003e\u003cp class=\"bb-that-category__text\"\u003eConnecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world\u003c/p\u003e\u003c/div\u003e\u003c/section\u003e \u003csection class=\"bb-that-category\"\u003e\n \u003ch3 id=\"that-list--for_customers--19\" class=\"bb-that-category__title\"\u003eFor Customers\u003c/h3\u003e\u003cul class=\"bb-that-category__content\" aria-labelledby=\"that-list--for_customers--19\"\u003e\u003cli class=\"bb-that-category__item\"\u003e\u003ca class=\"bb-that-category__link\" href=\"https://bba.bloomberg.net/?utm_source=bloomberg-menu\u0026amp;utm_medium=bcom\" data-element=\"tophat-link\" data-description=\"Bloomberg Anywhere Remote Login\" data-label=\"bcom\" tabindex=\"0\"\u003eBloomberg Anywhere Remote Login\u003c/a\u003e\u003c/li\u003e\u003cli class=\"bb-that-category__item\"\u003e\u003ca class=\"bb-that-category__link\" href=\"https://www.bloomberg.com/professional/support/customer-support/software-updates/?utm_source=bloomberg-menu\u0026amp;utm_medium=bcom\" data-element=\"tophat-link\" data-description=\"Software Updates\" data-label=\"bcom\" tabindex=\"0\"\u003eSoftware Updates\u003c/a\u003e\u003c/li\u003e\u003cli class=\"bb-that-category__item\"\u003e\u003ca class=\"bb-that-category__link\" href=\"https://service.bloomberg.com/portal/sessions/new?utm_source=bloomberg-menu\u0026amp;utm_medium=bcom\" data-element=\"tophat-link\" data-description=\"Manage Contracts and Orders\" data-label=\"bcom\" tabindex=\"0\"\u003eManage Contracts and Orders\u003c/a\u003e\u003c/li\u003e\u003c/ul\u003e\u003c/section\u003e \u003csection class=\"bb-that-category\"\u003e\n \u003ch3 id=\"that-list--support--20\" class=\"bb-that-category__title\"\u003eSupport\u003c/h3\u003e\u003cdiv 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