The Tech Media Minute: Is Apple Racing Into a New Business Venture?

Is Apple getting into the racing business?

Apple could soon become the main sponsor of the high-speed Formula 1 racing series. This news comes from noted F1 blogger Joe Saward, who notes:

“The whisper is that the latest bidder is Apple Inc., which is a company with $161 billion in net cash at the moment, despite having spent $117 billion on share repurchases and $46 billion on dividends in recent years. Apple doesn’t typically make big purchases but usually buys small business and incorporates the technology into its products but the viewing habits of the world are changing, with traditional broadcasters, cable and satellite networks under threat from “over-the-top” content providers.”

Why would Apple sponsor a racing series? The long-rumored “Apple Car,” of course.

The latest “iPhone 7” image leak suggests that Apple’s next handset won’t be available in black or blue, as once believed. The image, from MacityNet, shows that the iPhone 7 could ship in the same four colors as the iPhone 6s: space gray, silver, gold, and rose gold.

The iPhone 7 and “iPhone 7 Plus/Pro” are expected to launch in early September. Among the changes likely are an improved camera and the loss of the 3.5mm headphone jack. Apple is set to offer the handsets in three storage options: 32GB, 128GB, and 256GB.

GOP, Dems get ready to party

The Republican Party is expected to nominate Donald J. Trump as its 2016 presidential nominee at next week’s national convention in Cleveland, Ohio. One week later in Philadelphia, Pennsylvania, the Democratic Party will nominate Hillary R. Clinton as its standard-bearer.

This year’s official RNC convention app is being sponsored by AT&T. An official DNC convention app has yet to be released.

Happy #BastilleDay!

Also trending on Twitter on this Thursday:

• #SingleBecause
• #ThursdayThoughts
• #NationalHotDogDay
• Tim Tebow
• NES Classic Edition
• #SINETInnovSum
• #ItMayBeAScamIf
• #IGFUSA2016
• #FutureSpace2016

Today, July 14 is the aforementioned Bastille Day, plus Pandemonium Day, and National Nude Day.

Tomorrow, July 15 the Wonder Women Tech conference begins in Long Beach, California.

Rewind: On this day in 1867, Alfred Nobel demonstrated dynamite for the first time. In 1914, liquid rocket fuel was patented.

Looking for more to read? We’ve got you covered:

• Three Reasons Why The iPhone SE Is Apple’s Weakest Link, Forbes
• Why cellular on the Apple Watch 2 will be a feature you’ll hate, ZDNet
• How Pokémon Go could be the killer app the Apple Watch needs, Macworld

Want even more? Check out Tech Media Extra.