(https://www.marketwatch.com/story/a-2-000-iphone-is-coming-soon-as-apple-aims-for-high-end-buyers-248350a9?mod=mw_rss_topstories) is a 10-year-old playbook dressed up as innovation. The real tell? Walmart's 3.2% net margin and revenue growth of 208.1% YoY signal a retailer scaling into a structurally different consumer base — but the margin compression thesis requires pressure, not expansion.

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