WEBVTT - Qualcomm Micron, Sox Rise on Earnings; Apple Sinks on Price Hikes

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<v Speaker 1>Bloomberg Audio Studios, podcasts, radio News.

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<v Speaker 2>This is the closing bell on this stock mover's report

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<v Speaker 2>the companies making moves at the close of US trading

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<v Speaker 2>with Carol Masser, Tim Stenebeck, Romain Bostik, and Katie Greyfell.

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<v Speaker 3>Let's go to some of the individual gainers and I

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<v Speaker 3>got to talk about Micron closing at I believe a

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<v Speaker 3>record here today, the stock finishing with a gain of

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<v Speaker 3>about fifteen point seven percent at its highs. It almost

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<v Speaker 3>hit a twenty percent gain, so backing off some of

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<v Speaker 3>that we know surging here after the company issued a

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<v Speaker 3>quarterly sales forecast at exceeded Wall Street estimates, signaling that

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<v Speaker 3>an AI fueled growth run remained strong. It has secured

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<v Speaker 3>sixteen strategic customer segments agreements, which suggests that the company

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<v Speaker 3>can kind of mitigate what we often talk about in

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<v Speaker 3>the semi space, the boom and bus cycles that have

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<v Speaker 3>plagued in particular the memory chip industry. This stock is

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<v Speaker 3>now up about three hundred and twenty eight percent year

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<v Speaker 3>to date, So check out all the superlatives in terms

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<v Speaker 3>of the numbers. When that company reported so that one

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<v Speaker 3>was hire another chip name in the space, something that

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<v Speaker 3>Romain actually caught up with the CEO at Qualcomm today

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<v Speaker 3>along with our Ed Ludlow. That stock also rallying at

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<v Speaker 3>its highs up more than eleven percent, finishing the day

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<v Speaker 3>with a much smaller game but still up about three

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<v Speaker 3>point seven percent. That's after the chip maker forecast annual

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<v Speaker 3>sales are more than fifteen billion from AI components in

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<v Speaker 3>data centers by fiscal twenty twenty nine. There's a lot

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<v Speaker 3>to that report, but be sure to check out the

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<v Speaker 3>interview that Ed and Romaine did with the CEO of

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<v Speaker 3>Cristiano Aman. Really good stuff there.

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<v Speaker 1>Hey.

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<v Speaker 3>I also want to just show you that Philadelphia Semiconductor Index.

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<v Speaker 3>No surprise to see that average thanks to Micron and

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<v Speaker 3>Qualcomm and others. It was up about three point six

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<v Speaker 3>percent in today's session. You had twenty one of the

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<v Speaker 3>thirty names in the index higher for the trade. So

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<v Speaker 3>just something to point out there, hey. And then for

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<v Speaker 3>something different, and I just wanted to take a look

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<v Speaker 3>at airlines if we flip on over to that board,

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<v Speaker 3>and that group up almost five percent if you look

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<v Speaker 3>at the S and P Supercomposite Airlines Industry Index, finishing

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<v Speaker 3>the day with a game of about two point two percent,

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<v Speaker 3>rallying for five days in a row, up about thirteen

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<v Speaker 3>percent in that timeframe. I also want to bring up jets,

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<v Speaker 3>the US Global Jets ETF, which is a bigger picture

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<v Speaker 3>of the global airline space, and that one was up

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<v Speaker 3>about one and a half percent. It's something that you

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<v Speaker 3>really look at when you want to look at the

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<v Speaker 3>biggest airline stocks. It has moved up to its highest

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<v Speaker 3>level since September of twenty eighteen, out pacing the S

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<v Speaker 3>and P five hundred year to date. But keep in

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<v Speaker 3>mind the index has gone barely nowhere since the end

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<v Speaker 3>of twenty nineteen, but nonetheless moving up today. And of

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<v Speaker 3>course we know a lot of it has to do

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<v Speaker 3>with it looks like things easing between Iran and certainly

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<v Speaker 3>the US. We've seen energy prices come down, but again

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<v Speaker 3>today we were reminded ain't all over yet yet.

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<v Speaker 1>Everybody, the question is what is the pass forward for me?

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<v Speaker 1>Cap Tech? In fact, every single name in the mag

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<v Speaker 1>seven was lower today. I want to home in on

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<v Speaker 1>Apple shares of Apple having their worst day going all

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<v Speaker 1>the way back to April of twenty twenty five. You

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<v Speaker 1>guys remember that that was post Liberation Day when shares

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<v Speaker 1>of Apple actually fell more than six point one two percent.

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<v Speaker 1>That's how they post today. What was that I was

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<v Speaker 1>sitting right here. I was sitting right well here, but

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<v Speaker 1>in a different studio. Exactly there, I guess Romain was exactly,

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<v Speaker 1>you're really there. Everybody knows the story right now about Apple,

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<v Speaker 1>and that's its hiking prices on Vision Pro home devices,

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<v Speaker 1>Imax iPads and some other home devices because of that

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<v Speaker 1>memory chip shortage. We talked to Man Deep Saying of

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<v Speaker 1>Bloomberg Intelligence a little earlier, and he said, there has

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<v Speaker 1>to be demand destruction with a move like this. If

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<v Speaker 1>you raised price is fifteen to twenty percent and you're

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<v Speaker 1>selling the same thing, you're not going to sell as

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<v Speaker 1>many of those things. So that's just economics. One oh

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<v Speaker 1>one shares Apple getting head today to the two. I

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<v Speaker 1>do wonder does not have to be pedantic.

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<v Speaker 3>But do you think because some of these price sites

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<v Speaker 3>don't take effect for a few weeks, you think it's

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<v Speaker 3>gonna be like a rush to buy?

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<v Speaker 2>Yes?

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<v Speaker 1>I do see. Yeah, I think there absolutely will be

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<v Speaker 1>kind of like there is, you know, a lull ahead

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<v Speaker 1>of a new iPhone launch in September. Yeah, so yeah,

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<v Speaker 1>I think I think consumers are pretty smart about this stuff.

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<v Speaker 1>And Apple's also really smart about when they time these

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<v Speaker 1>things because you know, the fall is the most important

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<v Speaker 1>selling period ahead of the holiday season. Hey, speaking of

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<v Speaker 1>the AI boom and chips Cerebras systems, keep an eye

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<v Speaker 1>on this stock. Shares tumbling today, falling to the tune

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<v Speaker 1>of seven and a half percent. Although it was lower,

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<v Speaker 1>it was on track for a record two day session loss.

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<v Speaker 1>The company did give that disappointing annual sales outlook. That

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<v Speaker 1>wasn't yesterday, that was the day before. It fell as

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<v Speaker 1>much as twelve percent. Intra day to day traded at

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<v Speaker 1>its lowest level since it may launch, shares close to

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<v Speaker 1>fifty percent below that record high of more than three

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<v Speaker 1>hundred dollars that was hit on its first day of

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<v Speaker 1>public trading. At that time, it was before SpaceX, so

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<v Speaker 1>it was the largest IPO of the year. And finally,

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<v Speaker 1>we haven't been talking about this that much except on

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<v Speaker 1>the Crypto Show. Oh, look at what bitcoin has been

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<v Speaker 1>doing and when bitcoin moves Strategy the company formerly known

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<v Speaker 1>as micro Strategy moves Bitcoin taking a tumble today. Shares

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<v Speaker 1>a micro Strategy down today by nine point four percent.

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<v Speaker 1>Fears are growing that the bitcoin buying machine is beginning

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<v Speaker 1>to seize up, fueling the latest leg of Bitcoin's sell

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<v Speaker 1>off strategy. Shares down today by nine point four percent.

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<v Speaker 2>The Stock Movers report from Bloomberg Radio. Check back with

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