Good morning. The last time the U.S. was in a period of prolonged inflation, back in the 1970s amid the Middle-East oil crisis, luxury sports car maker Porsche did something interesting: it sold a Porsche-branded car, the new budget-friendly 924 model, that had a
Volkswagen van engine under the hood.
Tim Cook was only 16 years old at the time, but maybe he was taking notes? On Wednesday,
Apple unveiled the MacBook Neo, its lowest priced laptop ever. With a starting price of $599, the Neo is $500 less than the MacBook Air, up until now the cheapest laptop in Apple’s lineup. It’s a necessary defensive move by Apple, which is facing increasing competition from low-cost
Google Chromebooks and rising component prices because of the memory crunch.
Compared to pricier MacBooks, the Neo has a smaller screen and less memory. And then there’s the engine under the hood—the iPhone 18A Pro chip. Yes, Apple is putting a smartphone processor inside a laptop computer. It’s a first for Apple, and the fact that Apple even considers it possible is a sign of how far its smartphone chips have come. The Porsche 924 went on to become a hit product that was just right for the times. Half a century later, the Porsche playbook may be just right for Apple.
Today’s tech news below.
Alexei Oreskovic@lexnfxalexei.oreskovic@fortune.com
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