Apple's Leak could 10x *THESE* Stocks | Game Changer

You ever heard the term vapor wear?

>> Yes. In front of you.

>> Have you ever heard the term vapor wear

is exactly how CNBC starts on Apple? Oh

snap. What they're referring to is this

Bloomberg article that just came out.

Apple plots expansion into AI robots,

home security, and smart displays. Okay.

I'd like to just say upfront there's a

huge potential business in home security

cameras that actually don't suck that

give you good alerts uh even like phone

or keyed access you it's one of the

reasons I've been such a big fan of

Ubiquity I love their products ticker UI

uh it is a phenomenal company I think

with great pricing power amongst the

small and medium enterprises and and the

proumer uh the downside is you know

smaller businesses uh facing a little

bit expansionary struggles right now

with uh with high interest rates. But

all that aside, there's a huge

opportunity here for Apple to integrate

like quality products, right? Uh so

let's see what they've got here. Apple

is plotting its AI comeback. Okay. Well,

this is what they said last year and it

was total fugazi. Uh I mean, I hate to

say it as as a person who uses a lot of

Apple products. I mean, I've got every

iPad that's ever existed. I've got too

many Apple products, too many laptops.

I've had, you know, the Mac Studios. Uh,

actually, I've got one, I'm staring at

it right now that I have the Apple

Vision Pro, you know, whatever. Like,

there's no shortage of Apple products

that I have, uh, and that I used and,

you know, I had the iPhone 1, so I've

seen Apple's grow up. What they really

need is to get themselves some of these,

and I'm sure they'll get into these very

soon. These are the uh, Meta glasses.

These, by the way, you go on vacation.

Oh, musthave. Absolutely. And I don't

care if it's meta in the future. I I

don't The fact that it's meta is has no

bearing to me. Uh I just want that the

glasses, you know, because I I wear

glasses for distance for, you know,

flying and driving. Uh and these things

are freaking awesome. Ray-B bands,

right? Like this is this is cool. I I

love this stuff. So, u anyway, we'll do

a separate video on these, but that's a

great place for Apple to get into,

frankly. But what do we have here? Apple

is planning their AI comeback, which so

far their AI has really sucked. I mean,

I asked Siri the other day. I'm like,

"Hey, you know, it was some number like,

what's 159 divided by 27?" I think I was

in Japan. Uh, and uh, whatever it was,

and it's like, "Sorry, cannot connect to

the internet." And I'm like, "This is

the dumbest thing ever." Like, I'm

asking you a simple math problem. Like,

use the calculator app and give me the

answer. So, there are there are some

real frustrations as a daily user of

Apple products.

Uh so uh it looks like uh they're

looking for an ambitious slate of new

devices including robots, a lifelike

version of Siri. Okay. A smart speaker

with display and home security cameras.

Okay, cool. The tabletop robot that

serves as a virtual companion targeted

for 2027 is the centerpiece of the AI

strategy. What a virtual com wait that

serves as a virtual companion. So, like

what? I I put like an Apple thing on my

kitchen counter and and it's going to

like talk to me and tell me about what's

on my calendar for the day or something.

You mean like what Alexa already does?

Uh, okay. The smart speaker with the

display, meanwhile, is expected to

arrive next year. This is fine. Like, I

have uh iPads mounted uh on the inside

of my exterior doors. Uh they're

actually very easy to mount uh cuz they

sell them on Amazon. on the mounts for

like 20 bucks. They're these metal

mounts and you lock them in place with a

key and they're great. I love having

these iPads mounted because you could,

you know, if you keep the apps running,

you can check your cameras and see like,

hey, who's on the other side of the door

or you want to look at different cameras

or whatever, they're great. Uh, and if

they could make this more streamlined,

that'd be great. I think that's that's a

huge growth opportunity for Apple.

Completely agree with that. New cameras

will anchor an Apple security system

that can automate household functions.

Great. Like turning off lights if

nobody's in a room. Honestly, home

automation would be the such a great way

for Apple to go. Who knows? Maybe they

could even partner with Ubiquiti. I try

to Google that. Apple Ubiquity. Have

they ever partnered together?

Uh let's see here. I don't think there's

there's no particular news on them.

Nope.

That that would be brilliant. So, no

indication of a partnership between the

two, but that would be brilliant. The

approach should help make Apple's

product ecosystem stickier with

consumers. If they don't partner with

Ubiquiti, it could be competition for

Ubiquiti. But Ubiquiti's cameras are

really, really good. I mean, you go to

ui.com here. Uh go to

uh sorry, I'm like a shill for their

stuff, and they just keep expanding what

they're doing. My goodness, they just

have so much stuff now. I don't even

know where to go anymore. Like, they

just keep redesigning this website, but

I've got a ton of their products. Their

cameras are great. Their their wireless

access points are are some of the best.

Uh you'll see them all over the place.

These these discs, the hockey pucks, I

like to call them. Uh these are really

good wireless access points. Their

routing system is great. Their dream

machine is great, which I use as well.

Uh they it looks like they're really

trying to focus on enterprise right now,

but you know, anyone can use this uh

here cameras. These things are great and

they're incorporating AI into these

cameras.

Uh which I mean everybody should

basically at this point. The AI turret,

the AI dome. Uh these are great

products. The 360 cameras that you can

mount to the ceilings. It's all power

over Ethernet. Oh, this is sick. Dual

camera mount. I love that. Then you only

have to run Ethernet at one time for for

one spot. That's brilliant. I love this

company. Like that's what I'm saying.

Like I could buy 10 of everything from

their company and still not be satisfied

because I just love the company. But

Apple should either partner with them or

compete with them and do something like

that because Ubiquiti is killing it. So

uh it's all part of an effort to restore

Apple's mojo. Its most recent moonshot

project, the Vision Pro, remains a sales

flop. Uh yeah, let me tell you what the

problem with that is. So I have the

Vision Pro. Uh I actually took it to

Japan. Uh because I I wore it on the uh

on the plane ride over cuz it's so long,

you know? It's like an 11-h hour plane

ride. The problem with these uh is

they're just too damn heavy. And it's

unfortunate. And somebody's like blowing

right outside my window. I hope they're

having a good time. But anyway, I really

enjoy the potential of these because of

uh you know how you could extend your

Mac display and kind of look at stuff in

privacy right on a plane. So you put

your you take your laptop out, you put

these things on and I could have you

know three different displays up and

it's great. A downside is you'd have to

buy a separate internet package on like

a United Airlines flight for this and

your laptop which is really annoying. So

that's not great. like it doesn't share.

I mean, I guess maybe you could I don't

think you could hotspot though if you're

using a Wi-Fi network. So, that's not

going to work. Uh but anyway, uh it's

just too heavy. So, after time, either

like the bridge of your nose hurts or

your head just hurts wearing these. So,

the time that you could really

comfortably wear these is just like 45

minutes or something cuz it's just too

damn heavy. Uh and it's really

unfortunate because like I want to like

the product. It's a high quality

product. You know, the way you control

it, high quality. The way the apps look,

the way the product looks is great. I

just feel like I need somebody to like

like hook some cables from the ceiling

and get like 2 lb of weight off of this

cuz it's just too damn much. So, it's

unfortunate. Uh, but otherwise, yeah, I

mean, it's not great potential, but not

not a surprise that that it floped. uh

under fire for missing the Gen AI

revolution. Yeah, I mean you could like

AI generate meme emojis or whatever, but

like who cares? That's dumb. The Apple

Mimojis or whatever they call them. This

is stupid. Uh Apple is in the early

stages of a turnaround, helping

challenge Samsung Meta and others.

Spokesperson declined to comment.

Tim Cook hinted at upcoming product

pipeline, which I can't talk about. It's

amazing. It's amazing. Some of you will

see it soon, some of it will come later,

but there's a lot. Beyond home devices,

Apple is preparing a thinner iPhone for

later this year. Uh, further out, it

plans to introduce smart glasses. This

would be absolutely brilliant. I'm

telling you, they're all going to get

into this. All of them are going to get

into this, and they all should.

Everybody should own smart glasses in

the future. I'm going to give you a

quick example here. Uh, and I I'm not a

shill for any of these companies. I'm

I'm really brand agnostic. I want to be

just super transparent about everything.

Uh, but I want you to look at this. Look

at my You could look at my X feed here.

Oh, shout out to United, by the way.

They let um they let Jack and Max into

the cockpit of the 787

and uh it was really sick. So, we really

appreciated that. That was that was

quite nice to them. So, shout out to the

United crew. Uh, and then they came back

and made little paper airplanes for the

boys. How nice is that? That was

amazing. Uh, anyway, so shout out to the

Meta Glasses because the Meta Glasses,

I'll give you a comparison here. Okay,

this was a really, really hot day uh on

in Japan. So, again, excuse me for

wearing little clothing here, but this

is a 360 camera and you could see I'm

wearing the Meta glasses right here. So,

I'm also holding a selfie stick with uh

uh with a 360 camera. And this is the

view of the 360 camera, which the cool

thing about the 360 camera is you can

also get yourself in the shot, which you

can't get in the wet meta glasses. But I

decided to try the meta glasses because

let's say you don't want to deal with

the editing of a 360 camera and you just

want to capture the moment, right? You

don't want to film everything. You just

want to capture that drop on Splash

Mountain. Okay, I'll play the raw audio

and video of this right here.

>> Oh, clickbait.

>> Really?

>> Oh, no.

>> Oops.

>> Oh my god.

>> How was it, Max?

>> I can't see anymore.

So, you can see here the 360 cam that I

have. Uh, and then the, you know, the

Meta glasses. Really, if you think about

it, no editing, no extra camera, no

extra batteries to charge. I mean,

obviously you have to charge the meta

glasses, but I just keep those in the

case in my backpack when I'm not using

them. And really, what you have is you

have a product that lets me capture that

moment and sort of relive what it was

like being in that seat. Uh, and and I

think they should all get into this. I

mean, really. Uh then I went on um

what's it called? Uh uh the Tower of

Terror. I hadn't gone on that since I

was like seven years old because I

really don't like those rides, but I I

dared the children to go on it. And they

wouldn't let me use my Insta 360 camera

to uh uh to film. So I'm like, "No

problem. I'll just film with my Meta

glasses." Look at this. This is all meta

glasses. Oh.

and and so you get like the whole drop

tower experience, but beyond getting the

drop tower experience with the the meta

glasses, uh what's remarkable is you

could kind of look around and I mean the

glasses, they're not the best for

nighttime, but look at me look around at

Jack and Max and the people in the room,

right?

>> Oh no.

It's kind of awesome. Like every

manufacturer, Microsoft, Apple, they all

need to get into this. Like I I the AI

stuff sucks. But let me put it this way.

So I'm I wear glasses. Uh I've got a lot

of different uh glasses, you know,

whether it's like the transition lenses

stuff, you know, here. Just sort of like

basic kind of glasses uh from Ray-B

bands. I've got the Warby Parkers. Uh, I

mean, I got a ton of glasses. I actually

like WBY a lot. I think they're a great

company. They should honestly get into,

if they want to pump their stock. They

should get into uh camera glasses

because honestly, I'm not going to buy

Warby Parkers again. I'm only going to

buy cameras with glasses on it. Now,

these are great glasses. I like them. I

like the trim of it. I I like the look

of them. And I mean, you know, I know I

look like a mess right now, but that's

just the way it is when you wake up at

whatever 4:30 in the morning to start

streaming good old numbers for people on

YouTube, which I really enjoy. Uh, so

that's my excuse. I'm sticking with it.

But that said, I won't buy a regular

pair of glasses anymore. I will only buy

glasses with a camera on it because it's

so nice to be able to just rapidly uh

pick up and and and go snap, take a take

a picture. You know, that was actually

even something that that Jack said and I

thought it was uh really well put how he

said it. And and the fact is the way you

think about it is it takes a lot longer

for you to take your phone out and to

take a a picture or video of something,

right? But you could do that quite

rapidly with glasses. Uh, I have a clip

here of Jack,

uh, which really sends this point home

and I want you to see it because this

was in Japan and this was him. Like I

didn't tell him to say this. This was

all him and it's because he realized

over time like what was going on and

this was his realization. So, let me see

if I can Oh, I don't know if I can get

audio on it though. How do I I'm going

to have to airdrop the picture really

quick or the short little video, but uh

it'll give you a little bit of a

realization of what it's like. Oh, there

we go. Good. Air drops fast. Um of this

and you'll see it from a kid's point of

view.

So, here we go.

>> POV due one year ago.

>> Oh my gosh, that is so cool.

POV, you know. Oh, that's so cool.

>> That's awesome. So, I mean, like look at

that. Right. So, he's right. Like a year

ago, it's like, "Oh, here. Let me go

take pictures. Oh, that's cool. Get the

phone out." You got to like make the

decision to take the phone out. Then you

take the phone out. Then you got to

unlock it. Then the Face ID isn't

working and then then you go to take the

picture but then the camera app has to

load and and all this crap, right? And

and now I mean look I mean he

>> POV you know now. Oh that's so cool.

>> Click

a game changer. It's a total game

changer. Uh it's like absolutely

phenomenal. So, uh, I good I mean that

could be a gamecher for Apple, but there

will be a lot of competition for these

foldable phone. I don't know how I feel

about that. A revamped headset. Look, if

they can get this thing lighter, I'm I'm

all all for it. It's just too damn

heavy. Sorry I keep saying that. It's

just true. Apple is looking to boost

sales after slowing growth. Yeah, they

need more products. Uh, I do think that

a home automation push would be great,

but now apparently they're moving

forward with a tabletop robotics project

code name J595.

Uh, okay. Uh, developing a new smart

home strategy. Max says you could just

swipe right on the phone on screen.

Yeah, look, I I I don't I don't need

help getting it to happen faster. Uh,

trust me, it happens fast enough. Oh,

we're talking about phones. Sorry. Like

I have the action button on the side,

too. But again, you still have to take

the phone out. And most of the time

where you think like, oh, do I want to

take like that's cool. There's a moment

where you think, should I take my phone

out and take a picture? That creates a

delay. Okay. Then if you decide to take

it out, even if you hit the action

button on the side or you want to swipe

or whatever, or you use the little home

uh home shortcut button, you still have

to get through Face ID. But if you're in

a sunny spot or a dark spot or whatever,

sometimes the LAR just doesn't pick up

your Face ID and it's like, "Oh, now I

got to put my password in." Even if the

Face ID works, sometimes if you haven't

restarted your phone often enough, the

damn app just freezes. It's all that

kind of friction that makes you miss

moments, right? That's the difference

here.

Uh tabletop robots that assemble

resembles an iPad mounted on a movable

limb.

What a tabletop robot that resembles an

iPad on a movable limb. All right, hold

on. We're going to have to we're going

to have to gro this. So, we're going to

gro

uh

create images

uh create an iPad robot on a movable

limb on a kitchen countertop

uh that

uses sear. All right. While that's

cooking, we'll keep reading this. Like a

human head, it can turn towards a person

who is speaking or summoning it, even

seek to draw the attention of someone

not facing it. The hope is to bring AI

to life in ways that hardware makers

have yet to do. Apple imagines customers

placing it on a desk or a kitchen

counter and using it to get work done,

consume media, and manage their day.

FaceTime calls will be a feature. Dude,

nobody makes FaceTime calls.

It's pretty rare. I feel like I'm just

going to randomly FaceTime people other

than like grandma, grandpa, and the

kids, right?

Apple is testing a feature that turns

the iPhone into a joystick. I mean, who

cares?

Uh, but the hallmark of the device is

entirely new version of Siri. Good. That

would be great. That's what you need

because it sucks right now. The idea is

for the device to act like a person in

the room. It can interrupt a

conversation.

Why do I want it to do that? And suggest

nearby restaurants for relevant recipe.

That sounds annoying.

I don't want you to interrupt me. Apple

is planning to put Siri the center

device operating system and give it a

virtual personality to make it seem

lifelike. The approach dub bubbles.

Dub bubbles.

You're nicknaming it bubbles. I feel

like that is the peak of the AI bubble

is Apple releasing a product called

Bubbles. Did you know Lauren got kicked

out of a birthday party for blowing

bubbles?

Everybody was pissed. It's like, "What

the hell, Lauren?"

And it's weird cuz it's like, why would

you get kicked out of a child's birthday

party for blowing bubbles?

I don't know how Bubbles the Clown is

ever going to forget this.

Uh, Apple has tested making Siri look

like an animated version of the Finder

logo. Smiley. This is so weird. Ve

closer to the Mimojis. Oh no, not the

Mimojis.

Device prototypes use a roughly 7in

horizontal display symbolizing an iPad

mini. Okay,

first of all, that's way too small.

That's way too small. If it's going to

be on a countertop, it should be a big

screen. It should literally be bigger,

not smaller.

The iPad Mini is fantastic for travel.

If you ever take an actual iPad

traveling in your backpack, you will

regret it. This is a fulls size Apple,

you know what, 11.9 in uh Pro

iPad here. This is heavy. This is heavy

alone in one hand. Like holding this in

in one hand. And I wish they'd have a

bigger iPad for my desk because I like

this and I like writing on the iPad and

annotating PDFs or whatever, but it is

heavy to have in a backpack. If you then

add the official Apple keyboard case,

dude, this is as heavy as a laptop. It's

insane. The iPad mini on the other hand,

perfect for traveling. As a pilot, I use

the mini as well on on sort of like a

knee strap. Strap it to your knee and

put that magneted onto there. Love it.

But if you're going to make a robot that

sits in your room, please have it have a

big screen. Uh, like Grock even used a

mini example here. This is stupid.

That's not what I said. Uh, no. Grock,

do a compo. Okay, this is stupid. That's

That's not what I want. Uh, let's make a

new conversation here cuz obviously

that's just clip art of a robot holding

an iPad mini.

Create an image of a robotic arm holding

an iPad mini

on a kitchen countertop.

I don't that's not going to look great,

but we'll see if I can evolve it. I'll

tell it to make it look like now an

Apple product afterwards. Some people

call it the Pixar lamp. Oh lord.

Referring to Yeah. Okay.

Apple has previously disclosed research

in the area. Published a paper in

January detailing a light fixture that

uses robotics to move around. It is like

the Pixar lamp. That's funny. That's

very Jobsian. Apple has multiple teams

working on this blah blah blah. Loosely

discussed humanoid products,

something akin to Amazon's Astro.

Uh

oh.

Well, it looks like I could already buy

the Astro available. Oh, exclusively by

invitation.

Oh, well that's lame.

It's like a pet monitor.

Ah,

that's kind of cool. I send this around

and like walk my perimeter of my house

and it could be security I guess, huh?

Household robot for home monitoring with

Alexa.

Remotely send Astro to check on specific

rooms, people, or things. I mean, that's

awesome.

Uh, hey, go check on the babies.

This could be your your nanny. You could

replace a nanny with a with a robot.

just probably does. Can't change the uh

diapers.

Can be used in areas up to 3500 square

feet. Single floor indoor environment.

Can't go up or downstairs. Well, yeah. I

mean, that's obvious. I'd give this a

try. This is cool. Yo, Amazon, hit me

up. Ask Astro to follow you or deliver a

message. Yeah, follow me around to

remind me. That's silly.

Uh, Astro will hang out low traffic

areas. Move around objects.

Can it bring you a beer?

Check in on your home from anywhere.

Oh, look at that. It's got a little

extendo thing. Oh, that's freaking

awesome.

Now, that's kind of cool.

That I like. I was going to say like the

camera seems like it's going to be

really slow, like low to the ground.

This is cool. Oh, yeah. Look, it's got

the drink holder.

It It'll bring things to you. It can

bring you a beer.

Astra, take this to Alicia. Dude, that's

sick.

That's That's actually clutch. That's

cool. Once again, Amazon's ahead. Wait,

you can't open the door.

Astro can learn if your doors are

windows unlock. Is my front door open? I

mean, that's fine.

This is cool.

Periscoping camera. Yeah, that's what

you need. See, 1080p. So, so full HD

periscope camera. Well, that's good.

Like, see, this is smart. 10.1 in

display and gets up 3 and 1/2 ft off the

ground. That's the way it should be.

Like, this this idea of like some swivel

arm with an iPad mini,

that's dumb.

I want I don't want an iPad mini. I want

a big

uh you know thingy. What is this? It's

like created a whole extra arm for this

thing.

And this one has the iPad floating. Man,

this rock now make it look like an Apple

product.

Watch it. Just puts an Apple on top.

Apple has a group actively developing a

large mechanical arm for use in

manufacturing facilities. Yeah. I mean,

I think mechanical arms are a much

better product anyway than uh than a

humanoid robot because you could just do

exactly what it needs to do rather than

everything that a human need. Like I'd

rather have two or three different

robots that could be really good at at

special task rather than a humanoid that

burns out because it's, you know,

battery is too small or it servos burn

out. Just the technology just isn't

there yet for a humanoid.

Uh stripped down version lacking the

arm, but it's a star. Standalone display

poised for the middle of next year.

Smart display and tabletop robot will

new will be operating a new system

dubbed Charismatic.

The interface largely centers on clock

faces and widgets.

Uh-huh. Charismatic, previously known as

Pebble and Rock, blends the approach of

the Apple TV and watch operating

systems. Oh, that's nice. Devices are

meant to be easily shared.

Primary input method will be Siri even

though you'll have a visual screen.

Hardware itself looks like Google's Nest

home Nest hub but is shaped like a

square.

Oh, okay. Yeah. Okay. All right.

Non-rootic 7in display. The launch will

mark the first time Apple's making a

serious push into smart home. There's so

much money in smart home. lighting

controls, blinds control, camera

controls, sensing controls,

uh, alarm and security. This is a huge

market if they could pull it off. Yeah,

they launched HomeKit in 2014, but dude,

it's been 11 years and it just hasn't

gone anywhere. Frustrating, man.

Bloomberg. Okay. Apple is preparing to

visually design for iPhones and iPads.

Fine. Final decision hasn't been made

yet. Okay. All right. Ring competitor.

Here we go. Apple is working on a camera

for home security. The device will be

battery C powered. No.

Come on. You need No, don't do some bull

crap where it's just some like, you

know,

super lowgrade retail product. This is

why

UniFi, man. Power over Ethernet, baby.

Like, give me some quality stuff. You

know how much congestion people are

going to have on their damn Wi-Fi

networks if they put a bunch of these

cameras around uh that are battery

operated then and then what? I got to

string a solar panel to it or something.

Come on.

Like battery. It needs to have PoE, man.

You're not a true tech person if you

don't POE. Okay, I POE daily.

Apple believes users will place cameras

throughout their home with automation.

That could mean turning lights off when

somebody leaves their room. Great.

That's what I mentioned earlier. Or

automatically playing music. I like

that. That'd be great. The goal is to

compete with Ring, Nest, and Roku to

sell more products. Man, they need to

get with it. It's also tested a doorbell

with facial recognition to unlock a

door. That's cool.

That's cool. I mean, this is exciting.

This is what Apple needs. This is

exactly what Apple needs to get the sex

appeal back.

Uh so, you know, Warby Parker up 9%

today, by the way. Uh what is there like

is there something I'm missing here? Are

they coming out with smart glasses?

They just had earnings. You know what we

should do is see if they have any

mention of smart glasses. That would be

the game changer for them. Smart

glasses.

Let's find out. Let's go. Warby Parker

and let's get into

their earnings quickly. Quick overview

of their earnings. Boosted annual

forecast.

CFO resigns,

raises outlook.

Q2 EBIDA 25 mil.

Okay, that's all pretty basic. So,

slight raise. Then we'll make a lot of

money though, huh? And then what about

the earnings call? That's what we want

because if we could see something on

smart glasses and cameras,

buy the stock

cuz they've already they already make

glasses, you know. They just need to

add uh

the camera.

So, okay, let's do

Corey earnings call. We'll save that

there. So, let's do Warby Parker

earnings call 813.

There we go.

And then

pop this puppy open.

All right, let's see what we have here.

So, Warby Parker.

Uh, now let's just do a command F for

smart.

We anticip Uh oh. Uh oh. What? They're

partnering with Google.

Oh

First and foremost, because they're a

global leader in AI. Yeah, their AI is

better than Meta's.

We anticipate smart glasses adoption to

dramatically increase when consumers

will be able to use their glasses not

only for photos and audio, but when they

become the primary interface for AI. And

we believe that Google has the unique

capabilities in AI. OMG,

not to mention the scale of assets and

much more. Since our founding, we've

been a technology innovator.

By combining that foundation with

Google's cutting edge AI and software,

we believe we can unlock totally new

levels of utility. Yes. Yes. It's

happening. W baby W. This Oh, this is

exciting. Massive opportunity. We've

seen computing evolve from desktop to

laptops and credit by the AI era. Yes.

Glasses are poised to become the next

computing platform. Yes.

Hard to overstate the size of the

potential market opportunity. Correct.

Warby Parker. Let me see what their

valuation is here.

Dude, I'm getting I'm getting excited.

That's bad. That means it's the top. If

Kevin's getting excited, it's it's the

top. Send it Send it down. Send it down.

All right, let's see what we have here.

Financials.

I wasn't expecting an Apple video to

turn into uh you know a Google and Warby

Parker video, but

who cares?

Starting to sound a little um

Oh, what's that guy's name? That actor,

whatever. Warby.

Warby Parker. $26.

2673. Call it 27. $27 divided by

24 cents of earnings 112 times. Oh, but

their EPS growth 71 + 28 + 38 + 24 / 4

40 100

112 / 40 selling for 2.8 peg.

I don't think they manufacture. So, I

mean, it's definitely it's not a rich

valuation for sure, and we'll have to

find out. I'm pretty I'm almost certain

they contract manufacturer.

Morby Parker Investor relations. We can

we'll find it out right now. So, we're

going to we're going to do it. Get to an

annual report and we'll know right away.

So, pop open an annual

and then uh manufacturer.

Let's find out. Oh, come on. Weeny baby.

I'll just download the document.

Here we go, man.

We fact. Okay, here we go.

So, Warby Parker.

Oh, stop it.

Okay, here we go.

We rely on a limited number of contract

manufacturers. Perfect. Perfect.

Third party manufacturing.

Uh

so they just design it.

Glasses have historically been a premium

price point.

Uh manufacturing blah blah blah.

Manufacturing supply chain. We work

directly with manufacturers notably in

China, Japan, Vietnam, and Italy. Right.

So we're going to have some tariff

impact.

vertically integrated. We design all of

our glasses in our New York

headquarters. Contract manufacture all

of our glasses frames.

Oh, this is a game changer.

Okay, so what do we have? Let's look at

the financials.

So, I'll go to a quarterly filing. Let's

see what we have in financials here. So,

we know the valuation is for a designer.

It's it's a fair it has a fair valuation

right now. Uh we've got gross profit

growth. Not much. Like they actually

don't have a lot of growth right now,

which is good because I think it'll blow

up if they do smart glasses. Their SGNA

is stable, but why are they losing

money?

Net revenue, gross profit, SGNA. The

fact that they're losing they've lost

money over the past periods sucks. Uh

not a lot, but you know, they've

their forecasts are that they're going

to be able to grow out of this hole.

Let's see what's going on on the balance

sheet. I've got current liabilities

outside of deferreds of about $110

million. Oh, I got plenty of cash. Let's

go. That's great. Plenty of cash to

cover my currents. Oh, I could pay off

other current lease liabilities. They

don't have debt. No long-term debt,

dude.

No long-term debt. Yeah. Yeah, that was

it. Jim Carrey, Ace Ventura. Yeah. Yeah.

Uh, no long-term debt. Plenty of cash to

pay off all my debts.

Uh,

both short-term and, uh, you know,

absent deferred revenues.

the yeah lease liabilities. That's fine.

I don't really care about their lease

liabilities.

This is very good.

And then if I go over here,

I have

depreciation. What are they

depreciating?

What's their plant property and

equipment?

Uh well, let's find out. Let's go to

their annual report. Plant property. Oh,

I probably have to put the commine.

Really?

Okay,

fine. Then we'll find it. Find it

ourselves.

Oh, maybe we won't. Isn't this the

annual report?

Oh, here we go. Computer equipment,

leaseold, furnitureures, fixtures.

Okay. So, I just don't know how they're

depreciating as much as they are, but

it's it's still a pretty small portion

of the business

cuz if they don't own manufacturing

plants, like we're really just talking

about like depreciating office furniture

and you know, junk like that. So, who

cares? So, but that's what I'm looking

at on the cash flow statement here.

Depreciation amortization 24. Could also

be some IP on uh on patents or whatever.

Stockbased comp 21 mil accounts payable

deferred revs fine. Net cash $69 million

of cash they've got. So they're Yeah,

but why did they spend 32 million on

plant property and equipment? What are

they buying?

Plant property and equipment. That's not

inventory.

So here we go. Plant property and

equipment lease holds. Oh, so they must

be buying more

lease deals.

Yeah. Okay. So, we bought some more

lease interest here. Computers and

equipment. They spent like 10 million

bucks on this. I guess everybody got a

new Mac. Capitalized software. Wait,

what software?

Yeah, cuz construction in progress is

way down. What software does is this

like their website?

Cloud-based software. The company enters

into cloud-based software hosting

arrangements.

Uh advertised over a straightline basis

software implementation cost.

All right, fine.

Whatever. Let's get back to the call

because this is a game changer here.

This is so smart.

Tell us about the development.

Target shop and shops.

That's like Ulta and ELF.

Uh, okay.

Dude, this is exciting.

Been great partnering with the Target

team. They've been great. Designed Warby

Parker within a Target. That's great.

That's great for Target, too. Been able

to leverage.

Okay. Anything else on the smart

glasses will allow AI to understand the

environment?

Embedded beautifully into a pair of

glasses. We're thrilled to partner with

a when when when I I want it now.

Uh

active momentum for the rest of the

year, which gives us confidence.

In May, we announced a long-term

partnership with Google to power AI

Eyewear.

Okay.

In May. So, how much has the stock run

since then?

Cuz I wonder like how how much of this

enthusiasm is already pushing in here? I

don't I don't know. We'll find out.

Dang.

this. Let's see if what they said. Warby

Parker

Google partnership. Let's just find

that.

Ah, there it is. May 20th. Okay. Warie

Parker popped 16%. Okay, big deal.

Android Okay. Uh, company announced

Google announced a smart glasses

partnership

at the IO dev conference committed. Wa.

They dude, they don't even need the

money, but they're committing 150 mil.

Wa.

[Music]

Yeah. 75 million now, 75 later. That's

huge.

That's great.

Warby said his plans to launch a series

of smart classes with Google. Set to

arrive sometime after 25. Oh, come on.

Holiday season 25 is where it's at.

Y'all are behind. Hurry up.

Dang. Okay, let me see. Somebody Eric

Rosen Crrance in the chat here has a

link. It's probably probably fishing.

It's going to steal all my information.

You can see all my secret searches about

clown outfits.

Uh, okay. Let's Let's do it. Let's click

it anyway. Intelligent eyewear. Be the

first to know. But we're developing our

first ever AI powered glasses. Sign up

for updates. Ah, it's just an update.

Darn.

Well, that's that's good. It's sad it's

going to take so long, but

you know, their announcement came about

here when they were about 20 bucks.

So, they're really just back to their

Jan peak right here. But this is that's

very exciting for war.

>> Why not advertise these things that you

told us here? I feel like nobody else

knows about this.

>> We'll we'll try a little advertising and

see how it goes.

>> Congratulations, man. You have done so

much. People love you. People look up to

you.

>> Kevin Praath there, financial analyst

and YouTuber. Meet Kevin. Always great

to get your take.