Memory Prices Hit Cisco, Apple Faces Siri Snags | Bloomberg Tech 2/12/2026
AppleApple(US:AAPL) Youtube·2026-02-12 21:08

Group 1: Cisco and AI Impact - Cisco is experiencing margin compression despite a strong sales outlook, with a noted 200 basis point erosion in margins [2][4][15] - The company is a leading global provider of equipment for corporate and data centers, playing a significant role in powering AI workloads [3][15] - Investors are questioning the implications of heavy infrastructure buildout and the potential for stronger productivity and margins over time [5][6] Group 2: Apple and Siri Challenges - Apple is facing delays in the rollout of new Siri features, originally planned for launch in June 2024, with some capabilities now pushed to September [17][18] - Despite these setbacks, iPhone sales remain strong, with $84 billion in sales reported, although manufacturing challenges could have impacted higher sales [19] - The competitive landscape is shifting, with companies like OpenAI and Google potentially advancing faster in AI capabilities [20] Group 3: Wealth Management and AI Disruption - The introduction of a new AI tax planning tool by Altruist has led to significant declines in wealth management stocks, with market capitalization potentially wiped out in the tens of billions [28][29] - Altruist aims to enhance wealth management accessibility and efficiency, reducing the time required for tasks that previously took multiple people hours to complete [31][32] - The market reaction indicates a strong sentiment against traditional wealth management firms, as AI tools are seen as equalizers in the industry [30][31] Group 4: Cryptocurrency Market Trends - Bitcoin has seen a continuous decline, impacting trading volumes and revenues for exchanges like Coinbase, which are heavily reliant on transaction fees [85][86] - The overall sentiment in the crypto market is bearish, with expectations of lower revenues due to decreased trading activity [88] - Coinbase is attempting to diversify its revenue streams, including launching prediction markets, but these initiatives are still in early stages [89]