1 00:00:02,520 --> 00:00:10,440 Speaker 1: Bloomberg Audio Studios, podcasts, radio news, The Stock Movers podcast, 2 00:00:10,800 --> 00:00:14,040 Speaker 1: your roundup of companies making moves in the stock market. 3 00:00:14,240 --> 00:00:17,599 Speaker 1: Harnessing the power of Bloomberg data. 4 00:00:17,840 --> 00:00:20,599 Speaker 2: We need to do the Stock Movers Report. It's five 5 00:00:20,640 --> 00:00:23,439 Speaker 2: minutes of brilliance in the stock market. We throw it 6 00:00:23,440 --> 00:00:28,240 Speaker 2: into a podcast. It's poetry with Lisa Mateo here keeping 7 00:00:28,320 --> 00:00:32,200 Speaker 2: up well rehearsed. Is the only person I know who 8 00:00:32,280 --> 00:00:36,120 Speaker 2: bought an Apple product every month last year? 9 00:00:36,520 --> 00:00:39,600 Speaker 3: Twelve new Apple products in the John Tucker House. 10 00:00:39,920 --> 00:00:41,000 Speaker 1: How's that going? John? 11 00:00:41,080 --> 00:00:43,920 Speaker 4: Never going to happen? Let me pile on to Apple 12 00:00:44,040 --> 00:00:47,960 Speaker 4: this morning, falling pre market, the iPhone maker could extend 13 00:00:47,960 --> 00:00:50,760 Speaker 4: the weakness that has seen this year. Wall Street pretty 14 00:00:50,760 --> 00:00:55,160 Speaker 4: concerned about the growth prospects and also in the position 15 00:00:55,240 --> 00:00:58,760 Speaker 4: in the landscape of artificial intelligence, whether actually keeping up 16 00:00:58,760 --> 00:01:01,880 Speaker 4: with other companies nt of this morning, downgrading the stock 17 00:01:01,960 --> 00:01:04,399 Speaker 4: to hold from buy. So this is the latest firm 18 00:01:04,440 --> 00:01:07,240 Speaker 4: to turn more cautious on Apple. The analyst there is 19 00:01:07,319 --> 00:01:07,959 Speaker 4: Laura Martin. 20 00:01:08,080 --> 00:01:08,880 Speaker 2: This is very good. 21 00:01:09,040 --> 00:01:11,200 Speaker 4: Yeah, well, she sees a number of risks this morning, 22 00:01:11,240 --> 00:01:15,760 Speaker 4: including competition and slowing growth trends, and you couple that 23 00:01:15,800 --> 00:01:20,040 Speaker 4: with evaluation that she says looks expensive on several metrics. 24 00:01:20,440 --> 00:01:23,200 Speaker 4: The stock actually down nineteen percent so far this year 25 00:01:23,360 --> 00:01:25,759 Speaker 4: as of Yes, they's closed. 26 00:01:25,440 --> 00:01:27,360 Speaker 3: And they got the suire coming out. They've got the 27 00:01:27,440 --> 00:01:32,000 Speaker 3: June WWDC whatever it's it's called, and that's a real 28 00:01:32,040 --> 00:01:34,840 Speaker 3: low bar. The people are not looking for a big splash. 29 00:01:34,920 --> 00:01:37,479 Speaker 4: They've also, I mean, it doesn't help that Tim Cook 30 00:01:37,520 --> 00:01:39,920 Speaker 4: and Apple have been singled out of the Trump administration for, 31 00:01:40,600 --> 00:01:45,080 Speaker 4: you know, the global manufacturing footprint. Let me do Tesla, 32 00:01:45,319 --> 00:01:48,080 Speaker 4: now here's why. It's a story on the Big Take 33 00:01:48,160 --> 00:01:53,640 Speaker 4: this morning, complete with a really disturbing video. So one 34 00:01:53,640 --> 00:01:57,000 Speaker 4: of the almost forty one thousand traffic fatalities in the 35 00:01:57,080 --> 00:02:01,400 Speaker 4: US and twenty twenty three was the first known pedestrian 36 00:02:01,440 --> 00:02:05,840 Speaker 4: fatality linked to Tesla's driving system, and that's prompted an 37 00:02:05,880 --> 00:02:10,440 Speaker 4: ongoing federal investigation into weather full self driving poses an 38 00:02:10,600 --> 00:02:15,560 Speaker 4: unacceptable safety risk. Bloomberg publishing these photos and partial footage 39 00:02:15,600 --> 00:02:18,960 Speaker 4: of the crash, which was actually recorded by the Model 40 00:02:18,960 --> 00:02:21,799 Speaker 4: Why and downloaded by police. This is being released for 41 00:02:21,840 --> 00:02:24,639 Speaker 4: the first time after obtaining the images and video through 42 00:02:24,639 --> 00:02:30,120 Speaker 4: a public records request. Tesla has already started putting driverless 43 00:02:30,160 --> 00:02:35,040 Speaker 4: Model Wise on public roads for testing in Austin, Texas 44 00:02:35,360 --> 00:02:37,239 Speaker 4: ahead of plans to launch driver. 45 00:02:37,560 --> 00:02:39,720 Speaker 3: It's got some momentum in the last couple of weeks. 46 00:02:39,880 --> 00:02:43,160 Speaker 3: Ed Ludlow's really on top of this with Bloomberg Technology. 47 00:02:43,200 --> 00:02:47,000 Speaker 3: But I guess it's happening, Is that right, Johns? 48 00:02:47,000 --> 00:02:51,880 Speaker 4: It's happening next week, the driverless taxi service. Nobody's going 49 00:02:51,919 --> 00:02:54,880 Speaker 4: to be in the car starting next week. The video 50 00:02:55,040 --> 00:02:59,600 Speaker 4: shows the car headed down the road and the sunshine 51 00:02:59,639 --> 00:03:03,080 Speaker 4: the gloe a blanks out essentially the camera. 52 00:03:03,639 --> 00:03:05,600 Speaker 3: Can I ask you a question, Yeah, if it's a 53 00:03:05,720 --> 00:03:08,400 Speaker 3: driverless car, do they play that? Do they pay the 54 00:03:08,440 --> 00:03:10,120 Speaker 3: congestion to X in New York? 55 00:03:10,600 --> 00:03:12,359 Speaker 4: Are you going to be paying that? No matter what, 56 00:03:14,240 --> 00:03:17,560 Speaker 4: Let's wrap up with yes, how many accounts do you 57 00:03:17,639 --> 00:03:19,959 Speaker 4: have that you didn't know you had? After more than 58 00:03:20,040 --> 00:03:24,200 Speaker 4: a half decade cleaning up Wells Fargo scandals, the CEO, 59 00:03:24,280 --> 00:03:27,320 Speaker 4: they are clearing away the firm's biggest impediment to growth, 60 00:03:27,680 --> 00:03:30,960 Speaker 4: the Federal Reserve seven year old cap on the assets, 61 00:03:31,600 --> 00:03:35,320 Speaker 4: has now been lifted. That means the it's almost two 62 00:03:35,360 --> 00:03:38,000 Speaker 4: trillion dollars lender can once again seek to narrow the 63 00:03:38,000 --> 00:03:42,040 Speaker 4: gap with the rivals. JP Morgan, Chase, Bank of America, 64 00:03:42,240 --> 00:03:45,800 Speaker 4: including in some of the Wall Street business lines as well. 65 00:03:46,160 --> 00:03:50,640 Speaker 4: So this unshackles Wells Fargo, setting up stiffer competition among 66 00:03:50,680 --> 00:03:54,040 Speaker 4: the US banks, and a new chapter for Charlie Sharp. 67 00:03:54,560 --> 00:03:57,720 Speaker 4: He's I'm gonna say kept kind of a low. 68 00:03:57,560 --> 00:04:04,120 Speaker 1: Profile Movers podcast from Bloomberg Radio. 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