Rachel Zegler and Gal Gadot star in an awkward live-action attempt to modernize the 1937 animated classic.
3 min
Disney’s first “Snow White” isn’t perfect—the prince is badly underwritten and doesn’t even get a name—but it is, by turns, enchanting, scary and moving. Version 2.0, starring Rachel Zegler in the title role and Gal Gadot as her nefarious stepmother, has been in the works since 2016 and already feels like it’s from a bygone era. After fans seemed grumpy about the rumored storyline and the casting of Ms. Zegler, Disney became bashful about releasing it last March and ordered reshoots to make everyone happy. Unfortunately, the story is so dopey it made me sleepy.
Directed by Marc Webb (“The Amazing Spider-Man” with Andrew Garfield ), the remake is neither a clever reimagining (like “The Jungle Book” and “Pete’s Dragon,” both from 2016) nor a faithful retelling (like 2017’s “Beauty and the Beast”), but rather an ungainly attempt at modernization. The songs “I’m Wishing” and “Someday My Prince Will Come” have been cut; the big what-she-wants number near the outset is called “Waiting on a Wish.” Instead of longing for true love (=fairy tale), Snow White hopes to sharpen her leadership skills (=M.B.A. program). And she keeps talking about a more equitable distribution of wealth in the kingdom she is destined to rule after her mother, the queen, dies and her father, having made a questionable choice for his second spouse, goes missing.
Ms. Gadot, giving it her all, is serviceable as the wicked stepmother. But she doesn’t bring a lot of wit to the role, and the script, by Erin Cressida Wilson , does very little to help. Her hello-I’m-evil number, “All Is Fair,” is meant to be the film’s comic showstopper but it’s barely a showslower, a wan imitation of “Gaston” from “Beauty and the Beast” or “Poor Unfortunate Souls” from “The Little Mermaid.” The original songs, from the songwriting team of Benj Pasek and Justin Paul (“La La Land”), also stack up poorly against the three tunes carried over from the original “Snow White,” each of which has been changed from a sweet bonbon into high-energy, low-impact cruise-ship entertainment. So unimaginative is the staging of the numbers that it suggests such straight-to-Disney+ features as 2019’s “Lady and the Tramp.”
After escaping a plot to kill her, Snow White becomes friends with a digital panoply of woodland animals and with the Seven Dwarfs, who instead of being played by actors are also digital creations. The warmth of the original animation is totally absent here; the tiny miners look like slightly creepy garden gnomes, except for Dopey, who looks like Alfred E. Neuman . As for the prince, there isn’t one; the love interest, Jonathan (a forgettable Andrew Burnap ), is a direct lift of the rogue-thief Flynn Rider , from 2010’s “Tangled,” plus some Robin Hood stylings. His sour, sarcastic tribute to the heroine, “Princess Problems,” is the worst Snow White number since the one with Rob Lowe at the 1989 Oscars.
Ms. Zegler isn’t the chief problem with the movie, but as in her debut role, Maria in Steven Spielberg’s remake of “West Side Story,” she has a tendency to seem bland and blank, leaving the emotional depths of her character unexplored even as she nearly dies twice. Gloss prevails over heart in nearly every scene, and plot beats feel contrived. She and Jonathan seem to have no interest in one another until, suddenly, they do; and when he and his band of thieves escape from a dungeon, they do so simply by yanking their iron chains out of the walls. Everything comes too easily and nothing generates much feeling. When interrogated by the evil queen, who wants to know what happened to her stepdaughter, Jonathan replies, “Snow who?” Which would be an understandable reaction to the movie. “Snow White” is the fairest of them all, in the sense that fair can mean mediocre.
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Apple’s growth engine is showing signs of slowing, as rising costs, weaker services growth and AI competition challenge its profitability. With John Ternus taking the helm, the pressure is on to reignite innovation and sustain investor confidence.
3 min
The Apple growth and profit machine is wavering, and the boost from price increases might not be enough to keep it going at historic rates. That dials up the pressure on Apple’s new chief executive, John Ternus.
The company saved the bad news for its earnings call, an hour after it posted its results for the September quarter, projecting that for the current quarter its high-margin services business will continue to slow and that its widely watched gross profit margin will continue to fall.
Apple AAPL -1.83%decrease; down pointing triangle shares had been flat in post-close trading but declined as much as 4% after the company made the projections, which fell short of Wall Street estimates.
The impact of high memory costs are weighing even more heavily on the company, Ternus and Apple Chief Financial Officer Kevan Parekh said on the company’s earnings call. Apple has stockpiled cheaper components purchased earlier, but those inventories are dwindling.
When Ternus took over as Apple’s third chief executive of the past 29 years on Sept. 1, he inherited sky-high expectations. The men he followed were among the most successful company leaders in American business history. Steve Jobs revolutionized consumer devices multiple times. Tim Cook expanded Jobs’s creation to spectacular heights.
The expectations are reflected in Apple’s huge valuation. Oppenheimer analyst Martin Yang noted that Apple stock trades at 36 times next year’s expected earnings, a premium to the overall market, even though its earnings are only expected to grow 1%, which is slower than its tech peers.
“We see insufficient upside to justify the premium,” Yang wrote in an investor note, adding that Apple needs to boost iPhone sales growth and turn around its slowing services business to make him more bullish.
Investors have bid up Apple shares because it has been a port in the AI storm—a reliable and capital-efficient business that stands apart from rivals which are spending hundreds of billions of dollars racing to the AI frontier.
While others invest in data centers, Apple has been pouring its own cash into buybacks and dividends. But that safety may be challenged if Ternus can’t speed up Apple’s innovation engine.
Apple’s lagging performance in AI was evident when its new “Siri AI” chatbot arrived this past quarter. Its long-maligned assistant was already stale the day it arrived, surpassed by agents such as Instinct and Muse that can complete multistep tasks for consumers, while Siri still sets kitchen timers.
Apple needs to give people reasons to buy its devices as they get more expensive. The company raised prices across the board last quarter to help offset higher costs. Without compelling new features, a big question is whether consumers will slow the frequency of iPhone upgrades.
The new iPhone Duo appears to be a bright spot. Consumers are scooping up the $1,999 foldable smartphone despite mixed reviews—so many that Apple can’t keep up with demand. Shipping dates jumped out to January soon after the device went on sale, a disappointment for the normally reliable Apple supply chain.
Apple said its revenue grew 12% in the September quarter, slightly ahead of Wall Street’s expectations. Its widely tracked gross profit margin, at 47.9%, also came in just ahead of analyst estimates.
Apple will need to find new growth avenues because a reliable engine during the Cook era—the services business—is slowing. Courts and regulators worldwide have limited Apple’s ability to charge developers big fees to distribute apps through its App Store, the biggest component of the company’s services segment.
One of its most lucrative App Store fee generators has been the ChatGPT app from OpenAI. Around the time Apple accused OpenAI of trade-secret theft this past summer, OpenAI began redirecting potential subscribers to pay via its website instead of the App Store, skirting Apple’s tollbooth.
Apple’s valuation has bumped up against a ceiling in recent weeks. Six times it traded above a $5 trillion market capitalization intraday before finally closing above the threshold, which it has already fallen back below.
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