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Recode Daily: What to expect from Apple’s earnings today

Plus, Reddit goes big and Anthony Scaramucci goes home.

Apple Holds Event To Announce New Products
Apple CEO Tim Cook
Stephen Lam / Getty

Apple will report its June quarter earnings today after the bell. Analysts are expecting about $44.9 billion of sales on around 40 million iPhone shipments. But as always, eyes will be on Apple’s guidance, which will contain timing clues for this year’s big iPhone launch. Speaking of Apple previews: If you squint hard, you can supposedly find hints about the new iPhone in the firmware code for its new HomePod speaker.
[Dan Frommer / Recode]

Reddit, the just-about-anything-goes internet forum, is now worth $1.8 billion, following a $200 million funding round. Investors including Andreessen Horowitz and Sequoia Capital put money into the site, but Conde Nast parent Advance Publications still owns a majority stake.
[Kurt Wagner / Recode]

Fidelity has given Uber a vote of confidence, despite its boardroom and CEO drama. The fund giant has kept its valuation of the car-hailing service steady in a report issued this week.
[Theodore Schleifer / Recode]

Los Angeles will host the 2024 Summer Olympics. The city thinks it will cost more than $5 billion to host the games, but says it can cover those costs with sponsorship and ticket sales.
[Los Angeles Times]

We will miss you, Mooch. On Sunday night, John Oliver compared Anthony Scaramucci to a sexually transmitted disease a cow might acquire. Things got worse for Scaramucci on Monday morning. But while we mourn the Mooch, shed a tear for Oliver and the rest of the humor community, who got less than two week’s material out of the man.[HBO via YouTube]

Top Stories From Recode

Sam Altman will spend big on a new political movement to fix U.S. housing, health care and more.
With The United Slate, Altman wants to support federal candidates who share his views on major policy issues.

Snap stock didn’t tank on Monday, the day its stock lockup expired.
There are some good explanations for why.

Facebook acquired an AI startup to help Messenger build out its personal assistant.
Ozlo is joining Messenger.

Anthony Levandowski didn’t make a deal with Uber until he was protected against possible lawsuits.
Levandowski and his co-founder Lior Ron said they were afraid Google would sue them out of anger, according to an Uber executive’s deposition.

One of the most popular mattress makers on Amazon is building an Amazon-powered store.
Tuft & Needle is “doubling down” on Amazon.

The chiefs of Facebook, Google and other tech giants aren’t committing to testify to the U.S. Congress on net neutrality.
They had until Monday to tell a key House committee, which is extending its deadline.

Valerie Jarrett, one of President Obama’s longest-serving aides, is joining Lyft’s board.She’ll fill the final seat on the nine-person board.

This is cool

Twitter will miss Mooch most of all
Double down on Anthony Scaramucci? If you insist. Here’s a farewell from a platform that was basically built for him.
[Twitter Moments]

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