You can DIY your next iPhone fix + the WFH lifestyle looks like it’s here to stay (if ETFs are any indicator)
Work from home stocks beat lifestyle tech through pandemic: The differing fortunes of two work-from-home ETFs launched at the height of the pandemic show us that not all changes brought about by covid were created equal, the Financial Times reports. While both ETFs — which trade under the tickers WFH and IWFH — appeared identical at first, their performances have diverged as economies started to reopen. The USD 115 mn WFH — which has a portfolio composed heavily of tech that enables working from home such as cloud computing and video conferencing — has risen some 58% since its launch. The USD 5 mn IWFH on the other hand has seen a weaker performance, up only 4% since its debut, with its investments being primarily in consumer-driven businesses such as streaming and food delivery.
What’s behind the discrepancy? Investors are getting bearish on consumer-driven businesses, which they think will no longer sustain the same level of growth as economies begin to open up and consumers begin returning to activities such as dining out. “That doesn’t bode so well for the Spotifys and Netflixes and Pelotons,” says the chief investment officer of one asset management firm. On the flipside, the shift towards remote work — or at the very least a hybrid model — seems here to stay, the FT says.
Apple is going the Ikea route with iPhones + MacBook fixes: Reversing its traditional resistance to DIY repairs, the tech giant will launch its Self Service Repair program early next year, through which it will sell certain spare parts for its products and offer instructions on how to fix them. You’ll soon be able to replace components like your iPhone’s battery, display, and camera without taking them to the store.
Apple will still be entrenched in the repair process: Apple seems confident that repairs will continue to happen on its own terms, acknowledging in its announcement that “the vast majority of customers” will stick with professional technicians. The program will also require “genuine” parts to be bought straight from the company.