WEBVTT - Alphabet Spending Plan, Qualcomm Tepid Forecast, Tech Rout, More

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<v Speaker 1>News when you want it. With Bloomberg News Now, I'm

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<v Speaker 1>Doug Krisner, and we begin with earnings reported after the bell.

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<v Speaker 1>Alphabet's fourth quarter revenue was above expectations. However, the company

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<v Speaker 1>also said it plans to spend far more than investors

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<v Speaker 1>had anticipated this year. Capex is set to double in

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<v Speaker 1>twenty twenty six. Here is Bloomberg's Caroline Hyde.

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<v Speaker 2>They are dialing this up because they must feel I

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<v Speaker 2>must be taken that they've felt from the market. You've

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<v Speaker 2>got some bandwidth to do this right now, because what

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<v Speaker 2>we've had time and time again think of Microsoft's numbers

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<v Speaker 2>is that their issue isn't one of demand.

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<v Speaker 1>As one of sup Pots, shares an Alphabet were down

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<v Speaker 1>by something greater than one percent in late US trading.

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<v Speaker 1>Qualcomm gave a lackluster forecast for revenue in the current period,

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<v Speaker 1>and the outlook only added to concern over component shortages

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<v Speaker 1>and how that may drive up prices and in turn

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<v Speaker 1>hurt consumer demand. Qualcomm is the largest maker of smartphone processors.

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<v Speaker 1>Here's Jay Goldberg from Seaport Research Partners.

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<v Speaker 3>So I think there's a near term problem and a

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<v Speaker 3>longer term problem. The near term issue is memory. Memory

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<v Speaker 3>prices are expensive. That cuts into everybody's margins. That's going

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<v Speaker 3>to eventually cut into consumer demand. Phones will be more

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<v Speaker 3>expensive because of the memory. It's a well known story.

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<v Speaker 3>So I think that's a near term headwind. Longer term,

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<v Speaker 3>I think Qualcom has some pretty significant challenges and I'm

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<v Speaker 3>not sure they're ready to address them yet.

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<v Speaker 1>That's Jay Goldberg from Seaport Research Partners. Shares and Qualcom

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<v Speaker 1>were down by more than nine percent in late US trading.

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<v Speaker 1>The sales forecast from the British chip designer ARM Holdings

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<v Speaker 1>was disappointing, and right now US listed shares in ARM

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<v Speaker 1>down more than six percent in late US trading. In

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<v Speaker 1>the equity market today, the appetite for risk was diminished

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<v Speaker 1>and the rotation out of tech shares gathered momentum. Software

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<v Speaker 1>firms were caught up in another wave of selling, but

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<v Speaker 1>chip makers saw bigger losses. We had the Philadelphia Semiconductor

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<v Speaker 1>Index down four point three percent today now the Nasdaq

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<v Speaker 1>one hundred drop nearly one point eight percent and breached

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<v Speaker 1>its one hundred day moving air That is a level

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<v Speaker 1>seen by some analysts as a harbinger for more losses.

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<v Speaker 1>Here is Sarah Hunt, Chief Market strategist at Alpine Woods.

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<v Speaker 4>The market was coming into all of this on fairly

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<v Speaker 4>high levels and had a lot of expectations. And even

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<v Speaker 4>if you're meeting some of those, it's not good enough

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<v Speaker 4>in an environment where people are starting to get scared

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<v Speaker 4>again about what is going to get disrupted by AI.

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<v Speaker 1>And you can hear more from Sarah Hunt on the

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<v Speaker 1>Bloomberg Business Week Daily podcast. The US and Iran are

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<v Speaker 1>set to meet in Oman on Friday to discuss a

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<v Speaker 1>nuclear deal. Even so, President Trump sent a warning to

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<v Speaker 1>Iran's leaders as US military forces entered the region. Here

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<v Speaker 1>is Trump speaking exclusively to NBC News.

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<v Speaker 5>I would say he should be very worried. Yeah, he

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<v Speaker 5>should be, as you know, they're negotiating with US.

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<v Speaker 2>I know they are.

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<v Speaker 3>But the protesters have said, you know, where are the Americans.

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<v Speaker 3>You promised them we would have their back. Do we

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<v Speaker 3>still have we back?

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<v Speaker 5>We've had their back, and look, that country's a mess

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<v Speaker 5>right now because of US.

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<v Speaker 6>We went in.

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<v Speaker 5>We wiped out their nuclear So let's wish again, want

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<v Speaker 5>peace in the Middle East. If I didn't take out

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<v Speaker 5>their nuclear think of it, if we didn't take out

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<v Speaker 5>that nuclear we wouldn't have peace in the Middle East

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<v Speaker 5>because the Arab countries could have never done that. They

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<v Speaker 5>were very, very afraid of Ara. They're not afraid of

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<v Speaker 5>Iran anymore.

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<v Speaker 1>President Trump, speaking with NBC's Tom yamas Now earlier today,

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<v Speaker 1>the US said he'd wanted to discuss other issues with Iran. However,

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<v Speaker 1>Iranian leadership wants to limit discussions to its nuclear program.

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<v Speaker 1>The Department of Homeland Security will immediately reduce its enforcement

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<v Speaker 1>presence in Minneapolis by seven hundred agents. White House borders

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<v Speaker 1>are Tom Homan says the government will rely more on

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<v Speaker 1>taking custody inside jails rather than making arrest in the community.

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<v Speaker 6>More officers taking custody of criminal amilage directly from the

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<v Speaker 6>jails means less offers on the street during criminal operations.

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<v Speaker 6>This is smart law enforcement, not less law enforcement. It's

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<v Speaker 6>safer for the community, safer for the officers, and safer

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<v Speaker 6>for the alien.

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<v Speaker 1>About two thousand immigration agents will remain in Minnesota. The

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<v Speaker 1>drawdown follows weeks of uproar after immigration agents shot and

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<v Speaker 1>killed two US citizens. Savannah Guthrie, co host of The

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<v Speaker 1>Today Show, has broken her silence about the disappearance of

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<v Speaker 1>her eighty four year old mother, Nancy as new details emerge.

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<v Speaker 1>Guthrie said in a recorded video posted on social media

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<v Speaker 1>that her family has heard about a ransom letter in

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<v Speaker 1>media reports. Here is Guthrie.

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<v Speaker 7>We live in a world where voices and images are

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<v Speaker 7>easily manipulated. We need to know without a doubt that

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<v Speaker 7>she is alive and that you have her. We want

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<v Speaker 7>to hear from you, and we are ready to listen.

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<v Speaker 7>Please reach out to us.

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<v Speaker 1>That is Savannah Guthrie. Now, authorities did not offer an

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<v Speaker 1>up d as investigators try to piece together the moments

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<v Speaker 1>before and immediately after the disappearance of Nancy Guthrie. The

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<v Speaker 1>chair of the Wall Street firm Paul Weiss, is stepping down.

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<v Speaker 1>Brad Karp resigned after a trove of emails detailed his

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<v Speaker 1>close connections to disgraced financier Jeffrey Epstein. Scott Barchet will

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<v Speaker 1>now lead Paul Weiss, effective immediately. And that is news

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<v Speaker 1>when you want it with Bloomberg News. Now, I'm Doug prisoner,

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<v Speaker 1>and this is Bloomberg