Speaker 1: Bloomberg Audio Studios, podcasts, radio news, The.
Speaker 2: Stock Movers podcast, your roundup of companies making moves in
Speaker 2: the stock market, harnessing the power of Bloomberg Data.
Speaker 1: Let's take a look at some stocks on the move today.
Speaker 1: I'm Nathan Hager, joined by Bloomberg's Alexis Christophers. Starting us
Speaker 1: off this morning. Alexis with the most actively traded stock
Speaker 1: in the pre market in this morning. It's not SpaceX
Speaker 1: for a change, that's morning.
Speaker 3: That's right for a change. We have got Intel taking
Speaker 3: that top spot ticker simple INTC. It's up about nine percent,
Speaker 3: on track for an all time high if this holds
Speaker 3: at the opening bell, and you know, it's had a
Speaker 3: pretty incredible year. Nathan, the stock is up two hundred
Speaker 3: and twenty eight percent. And remember the US took a
Speaker 3: ten percent stake in Intel just last year. It's now
Speaker 3: the chip maker's biggest investor. So President Trump today saying
Speaker 3: that Apple agreed to work with Intel to design and
Speaker 3: build chips in the US. Now, for Intel, finding external
Speaker 3: customers for chip production is really a key piece of
Speaker 3: this company's comeback plan. So it remains in the early
Speaker 3: stages of trying to line up clients for it's so
Speaker 3: called foundry business after some past false starts. So landing
Speaker 3: Apple here as a customer really represents a massive win
Speaker 3: for Intel, and analysts say it could potentially attract additional
Speaker 3: new business to the chip maker.
Speaker 1: Well, you mentioned Apple, and that stock's been making news
Speaker 1: in more ways than one this morning because the soon
Speaker 1: to be former CEO Tim Cook has been speaking out.
Speaker 3: Yeah, he spoke with the Wall Street Journal. This is
Speaker 3: an exclusive there, Tim Cook saying that the tech giant
Speaker 3: plans to raise prices on its products. This is to
Speaker 3: offset the surge and costs of memory and storage chips.
Speaker 3: Cook said that these price increases are unavoidable due to
Speaker 3: the huge increases in memory and storage chip costs that
Speaker 3: are being passed on to Apple, and he says it's
Speaker 3: making this situation quote unsustainable. So the price increases are
Speaker 3: driven by the skyrocketing demand for memory and George chips
Speaker 3: from AI companies, which has pushed up their cost and
Speaker 3: led to a shortage of supply for other companies, including Apple.
Speaker 3: We don't have details on the timing or the scale
Speaker 3: of these price increases. We don't even know what products
Speaker 3: they're going to effect. But Apple's next major product launch
Speaker 3: will likely be in September. That's when it's slated to
Speaker 3: release the iPhone eighteen lineup, including a new foldable iPhone.
Speaker 3: You know, price increases, especially for max and iPads, could
Speaker 3: come even sooner. Apple raised the starting price of the
Speaker 3: Mac Mini just last month, and that came in between
Speaker 3: launch events. But some analysts are saying in terms of
Speaker 3: how much prices might go up, they're thinking the iPhone
Speaker 3: eighteen may go up by about one hundred bucks when
Speaker 3: it hits the market this fall. But again, no official
Speaker 3: word from Tim Cook or Apple.
Speaker 1: Okay, so lots of reasons to keep an eye on
Speaker 1: tech stocks this morning. But you've also got another name
Speaker 1: well away from the tech space. What's behind the moven
Speaker 1: Smith and Wesson.
Speaker 3: Yeah, so sticker symbol Their SWBI stock up nearly fifteen percent,
Speaker 3: a thirty nine percent year to date. Nathan so It
Speaker 3: said that its brand sold rose, or rather it saw
Speaker 3: quarterly earnings rise more than expected. New products, especially handguns,
Speaker 3: helped the gun maker gain some market share here. New
Speaker 3: products actually made up almost thirty eight percent of the
Speaker 3: company's fourth quarter shipments, and the CEO said that handguns
Speaker 3: were the largest driver, but added that the company has
Speaker 3: seen momentum as it enters new categories such as hunting,
Speaker 3: and Smith said that handgun shipments into the sporting goods
Speaker 3: channel outpaced federal background check data, which the company uses
Speaker 3: sort of as an indicator for overall firearm demand. So
Speaker 3: sales remained strong, inventory levels declined even as Smith and
Speaker 3: Wesson raised its prices. The company expects this strong demand
Speaker 3: to continue into the current quarter and beyond. The company
Speaker 3: is expecting around fifteen to twenty percent revenue growth in
Speaker 3: the first quarter, mid single digit revenue growth for the
Speaker 3: full year, and also Wall Street was happy to hear
Speaker 3: that Smith and Wesson is also paying down its debt,
Speaker 3: so all of that contributing to an update.
Speaker 2: For the gunmaker. The Stockmovers podcast from Bloomberg Radio. Check
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