1 00:00:02,520 --> 00:00:07,360 Speaker 1: Bloomberg Audio Studios, podcasts, radio news. 2 00:00:08,640 --> 00:00:13,040 Speaker 2: The Stock Movers podcast, your roundup of companies making moves 3 00:00:13,080 --> 00:00:16,480 Speaker 2: in the stock market, harnessing the power of Bloomberg data. 4 00:00:17,800 --> 00:00:19,439 Speaker 3: Well, let's take a look at some stocks on the 5 00:00:19,480 --> 00:00:21,840 Speaker 3: move today with us is Bloomberg News cross Asset reporter 6 00:00:21,880 --> 00:00:26,279 Speaker 3: Emlely GRIFFEO here in our Bloomberg Business Week studio. What's 7 00:00:26,320 --> 00:00:28,000 Speaker 3: on your radar? I mean you have so many stocks 8 00:00:28,000 --> 00:00:29,680 Speaker 3: to choose from, yes, everything. 9 00:00:29,880 --> 00:00:32,120 Speaker 1: I Well, I came here. I was going to talk 10 00:00:32,120 --> 00:00:32,879 Speaker 1: about Apple and. 11 00:00:32,880 --> 00:00:37,840 Speaker 4: I will give the stock perspective here because we're looking 12 00:00:37,880 --> 00:00:42,040 Speaker 4: at a three hundred and twelve billion dollar decline in 13 00:00:42,159 --> 00:00:45,680 Speaker 4: market cap for one day for Apple. To put that 14 00:00:45,720 --> 00:00:49,199 Speaker 4: in perspective, it basically erased the entire market cap. 15 00:00:49,040 --> 00:00:49,800 Speaker 1: Of Coca Cola. 16 00:00:49,880 --> 00:00:50,560 Speaker 3: Unbelievable. 17 00:00:50,600 --> 00:00:53,800 Speaker 4: It's a really big drop. It's leading losses in the 18 00:00:53,840 --> 00:00:56,560 Speaker 4: mag seven. I'm imagining it all has to do with 19 00:00:56,680 --> 00:01:00,600 Speaker 4: the fact that they are very exposed to these China tariffs. 20 00:01:00,640 --> 00:01:04,200 Speaker 4: We're looking at a rate now fifty four percent on 21 00:01:04,319 --> 00:01:08,200 Speaker 4: goods when you take into account the reciprocal tariffs. In 22 00:01:08,319 --> 00:01:10,720 Speaker 4: terms of what the street is saying, could there be 23 00:01:10,760 --> 00:01:15,440 Speaker 4: an exemption? That is definitely a possibility here would Apple 24 00:01:15,520 --> 00:01:18,600 Speaker 4: be exempt from the China tariffs. Jeffrey said that that's 25 00:01:18,640 --> 00:01:20,960 Speaker 4: actually their base case. But when you look at what 26 00:01:21,000 --> 00:01:24,120 Speaker 4: other analysts have been saying, Rosenblock Securities they do have 27 00:01:24,120 --> 00:01:27,160 Speaker 4: a buy on Apple, but they said our quick math 28 00:01:27,200 --> 00:01:30,960 Speaker 4: on Trump's tariff liberation day suggest this could blow up Apple, 29 00:01:31,160 --> 00:01:34,760 Speaker 4: which suggests something is likely to give. It's hard for 30 00:01:34,840 --> 00:01:37,600 Speaker 4: us to imagine Trump blowing up an American icon, but 31 00:01:37,640 --> 00:01:40,200 Speaker 4: it looks pretty tough for Apple. I thought that was 32 00:01:40,240 --> 00:01:41,720 Speaker 4: a pretty intense note there. 33 00:01:41,640 --> 00:01:43,840 Speaker 5: Our Mark German, who, as you know, just knows that 34 00:01:43,920 --> 00:01:46,560 Speaker 5: company inside and out. He said, you know that, sure 35 00:01:46,600 --> 00:01:48,720 Speaker 5: they have a lot of cash, but they probably are 36 00:01:48,720 --> 00:01:51,000 Speaker 5: going to want to protect protect their margins, right while 37 00:01:51,040 --> 00:01:53,320 Speaker 5: she's going to be watching very closely. And so there 38 00:01:53,480 --> 00:01:55,880 Speaker 5: is This is a company that hasn't changed pricing, right 39 00:01:55,920 --> 00:01:57,840 Speaker 5: they've talked about in a long time. So maybe we 40 00:01:57,880 --> 00:01:59,920 Speaker 5: could see ultimately higher prices. 41 00:02:00,000 --> 00:02:03,400 Speaker 3: Ok maybe maybe maybe and midcycle could happen too exactly, 42 00:02:03,440 --> 00:02:04,640 Speaker 3: let's top in other countries. 43 00:02:04,800 --> 00:02:07,680 Speaker 1: You gotta talk our age. Yes, it is obsessed. 44 00:02:07,880 --> 00:02:10,040 Speaker 3: I don't say the word though it's a bad word. 45 00:02:10,720 --> 00:02:12,440 Speaker 1: I honestly, there. 46 00:02:12,360 --> 00:02:14,720 Speaker 3: Was an expletive involved in the writing of this story. 47 00:02:14,840 --> 00:02:18,120 Speaker 4: There was an expletive involved. As a journalist, you guys know, 48 00:02:18,240 --> 00:02:22,120 Speaker 4: we get so many canned responses. We talk to people 49 00:02:22,160 --> 00:02:26,280 Speaker 4: who are you know, rightfully so very sanitized. 50 00:02:28,120 --> 00:02:30,760 Speaker 3: Extremely prepared by a team to speak with us. 51 00:02:30,880 --> 00:02:33,600 Speaker 4: To get a CEO to say on an earnings caull 52 00:02:33,760 --> 00:02:38,160 Speaker 4: an expletive, a real like live reaction to his stock 53 00:02:38,520 --> 00:02:41,840 Speaker 4: plunging in the double digits. It's actually now facing its 54 00:02:41,880 --> 00:02:44,040 Speaker 4: biggest inter day drop on record. 55 00:02:44,919 --> 00:02:46,680 Speaker 1: It's it's journalism gold. 56 00:02:46,760 --> 00:02:49,280 Speaker 4: Not so much gold for anyone who's long the stock, 57 00:02:50,320 --> 00:02:53,400 Speaker 4: but I mean seventy percent of their products are from Asia, 58 00:02:53,480 --> 00:02:57,600 Speaker 4: so they're almost getting a double whammy with the tariff 59 00:02:57,639 --> 00:03:00,400 Speaker 4: news weighing on the company. But also they reported sales 60 00:03:00,960 --> 00:03:04,000 Speaker 4: that missed estimates. And then yeah, just to have the 61 00:03:04,080 --> 00:03:07,320 Speaker 4: CEO reacting, I won't say it here, but Lily Meyer 62 00:03:07,360 --> 00:03:09,280 Speaker 4: has a story on the Bloomberg terminal about this. 63 00:03:09,440 --> 00:03:11,960 Speaker 5: Love Love Love, There's nothing like talking French fries to 64 00:03:11,960 --> 00:03:12,880 Speaker 5: make you happy. 65 00:03:12,720 --> 00:03:16,080 Speaker 4: Lamb Weston. Who knows they're one of the best performers 66 00:03:16,120 --> 00:03:18,440 Speaker 4: in the S and P. Five hundred two thirds of 67 00:03:18,480 --> 00:03:22,560 Speaker 4: their suppliers are domiciled in the United States, so I 68 00:03:22,560 --> 00:03:25,320 Speaker 4: guess they're kind of shielded from tariffs. The company's down 69 00:03:25,400 --> 00:03:28,600 Speaker 4: forty percent over the last twelve months. I think this 70 00:03:28,720 --> 00:03:32,880 Speaker 4: is emblematic of the rotation going underway in markets. Maybe 71 00:03:32,880 --> 00:03:36,880 Speaker 4: those stocks that were previously unloved are now getting some 72 00:03:37,040 --> 00:03:39,280 Speaker 4: of that love. And this seems like a company that, 73 00:03:39,440 --> 00:03:43,200 Speaker 4: you know, it's all American. Maybe it's shielded from the from. 74 00:03:43,120 --> 00:03:44,280 Speaker 1: The tariff news. 75 00:03:44,360 --> 00:03:46,120 Speaker 4: And they also have a little bit of a turnaround 76 00:03:46,120 --> 00:03:48,320 Speaker 4: going on with a restructuring plan that they announced today. 77 00:03:48,360 --> 00:03:49,400 Speaker 5: It's just because it's French fries. 78 00:03:49,400 --> 00:03:50,800 Speaker 1: We all need a break, or we just. 79 00:03:50,760 --> 00:03:52,680 Speaker 3: Love French personal favorite. 80 00:03:53,280 --> 00:03:54,560 Speaker 5: We all need a glass of wine and some French 81 00:03:54,560 --> 00:03:55,160 Speaker 5: fries right now. 82 00:03:55,240 --> 00:03:55,440 Speaker 1: Yeah. 83 00:03:55,440 --> 00:03:57,440 Speaker 4: And their earning report, they said that most people they 84 00:03:57,480 --> 00:03:59,720 Speaker 4: go out to fast food and they're getting choosy, but 85 00:03:59,760 --> 00:04:00,960 Speaker 4: they all chose the French fries to have. 86 00:04:00,960 --> 00:04:02,600 Speaker 1: A night travel and he's like, I'm getting some food. 87 00:04:02,640 --> 00:04:03,720 Speaker 5: I'm like, just get me some fries. 88 00:04:04,120 --> 00:04:06,160 Speaker 3: Oh wow, she rolls. I don't even have to ask 89 00:04:06,200 --> 00:04:08,440 Speaker 3: you anymore, I just know she just wants fries. 90 00:04:09,800 --> 00:04:13,920 Speaker 2: The Stock Movers podcast from Bloomberg Radio. Check back with 91 00:04:14,040 --> 00:04:16,799 Speaker 2: us throughout the day for the latest roundup of companies 92 00:04:16,839 --> 00:04:19,880 Speaker 2: making news on Wall Street and for the latest market 93 00:04:19,920 --> 00:04:24,239 Speaker 2: moving headlines. Listen to Bloomberg Radio Live. Catch us on YouTube, 94 00:04:24,320 --> 00:04:27,560 Speaker 2: Bloomberg dot com, and on Applecarplay and Android Auto with 95 00:04:27,640 --> 00:04:29,119 Speaker 2: the Bloomberg Business app.