WEBVTT - Broadcom Rises, Amazon Gains, Apple Slumps on Report of Foldable iPhone Engineering Snags

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

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<v Speaker 2>The Stock Movers report, your roundup of companies making moves

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<v Speaker 2>in the stock market, harnessing the power of Bloomberg Data.

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<v Speaker 3>Let's take a look at some of the stocks on

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<v Speaker 3>the move today.

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<v Speaker 1>We can do that with Bloomberg's Christina Quino. Christine, what

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<v Speaker 1>are you looking at today? All right, Paul, Let's take

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<v Speaker 1>a look at Broadcom because that is very much in

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<v Speaker 1>green today. So it took her AVG eighty go and

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<v Speaker 1>those shares are up two and a half percent at

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<v Speaker 1>the moment, and that is because the chip baker announced

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<v Speaker 1>a long term agreement with Google to develop and supply

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<v Speaker 1>tensor processing units. So these are Google's custom AI chips

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<v Speaker 1>and Broadcom also saying that the two companies have confirmed

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<v Speaker 1>plans to work with Anthropic to power the AI startups

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<v Speaker 1>burgeoning operations. So Bloomberg Intelligence is Kunjo Savani weighing in

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<v Speaker 1>on this deal, saying that broadcomes expanded agreements with Google

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<v Speaker 1>and Anthropic gives investors multi year visibility, but a portion

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<v Speaker 1>of the ramp up for twenty twenty seven may already

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<v Speaker 1>be reflected in the consensus, so shares are up today.

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<v Speaker 3>Broadcom is like it's trying to wrap up all the AI.

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<v Speaker 3>It's like, I'll do a deal with anthropic, I'll do

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<v Speaker 3>it with open AI. Or okay, you also brought along

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<v Speaker 3>Amazon with you. Why are they in the news today? Exactly, Alexis,

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<v Speaker 3>so a couple of things.

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<v Speaker 1>Actually it's happening with Amazon, but at the moment, shares

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<v Speaker 1>are trending lower. So took her am z N. Those

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<v Speaker 1>shares are down one and a half percent. So a

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<v Speaker 1>couple of pieces of information. The information reporting that Amazon

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<v Speaker 1>has apparently rejected wholesale supplier's requests to pay more for

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<v Speaker 1>their inventory. So essentially that forces the brands on selling

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<v Speaker 1>on Amazon's platform to swallow costs related to tariffs or

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<v Speaker 1>energy increases or what have you. It's a very interesting

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<v Speaker 1>kind of consumer inflation bit of news there. And then

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<v Speaker 1>in other news, we also have Uber expanding its infrastructure

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<v Speaker 1>in AI capabilities on Amazon Web Services to support more

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<v Speaker 1>or of its strip serving zones. Now shares are down today.

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<v Speaker 1>It may just be because of the more cautious broad environment,

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<v Speaker 1>but it's.

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<v Speaker 3>Getting wrapped up in that exactly. Yeah, yeah, all right,

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<v Speaker 3>how about the Apple?

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<v Speaker 1>All right, let's take a look at Apple. Those areas

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<v Speaker 1>are also being challenged today take her AAPL they are

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<v Speaker 1>down moreti five percent, so that is primarily because we

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<v Speaker 1>did have Nicky Asia reporting that apparently the company is

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<v Speaker 1>seeing setbacks in the engineering test phase of its foldable iPhone,

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<v Speaker 1>so that could push back production shipment schedule. The first

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<v Speaker 1>shipment could be delayed by months. This is according to

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<v Speaker 1>a report that sites unidentified people. And I don't believe

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<v Speaker 1>Apple has weighed in on it, but nonetheless it is

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<v Speaker 1>weighing on shares today.

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<v Speaker 3>So it's one of the biggest losers in the S

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<v Speaker 3>and P five hundred right now.

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<v Speaker 1>Absolutely, Alexis. So people just got a wait for their

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<v Speaker 1>foldable phones. I don't know, would you want one?

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<v Speaker 2>No?

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<v Speaker 3>No, you know, and I also hold on to my

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<v Speaker 3>phone forever, so I'm really not getting a foldable phone.

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<v Speaker 1>For quite some time, I had one the Samsung wanted

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<v Speaker 1>to do you Yeah, I did. It was fine for

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<v Speaker 1>a while, but then it started glitching. So yeah, the

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<v Speaker 1>technology might just not be keeping up with the usage,

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<v Speaker 1>you know, that's the problem.

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<v Speaker 2>The Stockmovers report from Bloomberg Radio. Check back with us

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