Apple's business is getting smaller and smaller | Recode Daily: July 27, 2016

Apple's business has shrunk for the second consecutive quarter, driven by declines in its iPhone business. But because Apple still plans to do between $45.5 billion and $47.5 billion in sales this quarter powered by a new iPhone release — compared with $51.5 billion last year — Wall Street isn't freaking out. Yet.
[Dan Frommer | Recode]

Twitter missed on Wall Street expectations for revenue, and its revenue problems will probably get worse because of how expensive its ads are. Discussion of a sale is quickly heating up, and the company's stock fell almost 11 percent in after-hours trading.
[Kurt Wagner | Recode]

Hillary Clinton is now the first woman to become a major party's presidential nominee. That's the biggest news from the DNC. In tech circles at the DNC, Airbnb is spending lots of money and yesterday hosted a panel on the sharing economy with ex-Obama adviser and Uber policy guy David Plouffe. The goal was for the home-sharing startup to publicly solidify its already strong ties to the Democratic establishment.
[Noah Kulwin | Recode]

Facebook reports its earnings later today, which is a chance to show how its push into livestreaming video is going and answer some questions. When will it start turning Live into a business with ads? Will Facebook start going after streaming rights to professional sports leagues? Will it adjust its metrics for what counts as a video view? Whether or not Facebook addresses these questions, they're important to understanding where Facebook is headed.
[Kurt Wagner | Recode]

Government officials are increasingly certain that Russian state actors were behind the hack and leak of Democratic National Committee emails. Meanwhile, it's also becoming obvious that WikiLeaks boss Julian Assange timed the release of the emails in order to maximize the damage to Hillary Clinton.
[David E. Sanger and Eric Schmitt | The New York Times]