CNBC Daily Open: We'll soon find out who the new Fed chair is

Company and Industry Insights - Apple reported a 16% year-on-year increase in fiscal first-quarter revenue, driven by strong iPhone demand, exceeding market estimates [5] - Despite the revenue growth, investor response was muted, with Apple shares rising only about 0.5% in extended trading, possibly due to concerns over its position in artificial intelligence [6] - In contrast, Meta Platforms saw a significant increase in share price, rising more than 10% due to positive investor sentiment regarding its AI prospects [6] - Microsoft faced a negative reaction from investors, with its stock dropping 10% after announcing spending plans and a slowdown in cloud growth, resulting in a loss of $357 billion in market capitalization [6] - The tech-heavy Nasdaq Composite index declined by 0.72%, while the S&P 500 fell by 0.13%, indicating a broader market reaction to these company performances [7]