TD Dolci/iStock Editorial via Getty Images Listen below or on the go via Apple Podcasts and Spotify The Fed cut rates by 25 bps as expected. But Chairman Jay Powell says one more cut this year is far from a foregone conclusion. (0:16) Stocks end mixed as Treasury yields surge. (2:12) The following is an abridged transcript: Death, taxes and today’s interest rate cut. To the surprise of almost no one on Wall Street, the Federal Reserve cut rates by a quarter point for the second time this year. It als ...

Core Insights - The launch of Apple's iPhone 17 is a significant event for the company, described as their "Super Bowl" day, attracting a large turnout from the Apple community [2][3] - The new iPhone models, including the Pro, Max, and Air, feature advanced designs and performance enhancements, particularly in camera capabilities and overall user experience [2][3][10] - Trade-in values for older devices are reportedly higher, and there are incentives from carriers that may offset the perceived high costs of the new phones [4] Product Features - The iPhone 17 Pro is highlighted as the most advanced model yet, with a new design and superior camera performance [2][3] - The iPhone 17 Air is noted for its lightweight design, making it feel almost weightless while still delivering pro-level performance [3] - The new AirPods Pro feature significant improvements, including live translation capabilities, which are expected to enhance user experience [6][7] Market Response - Initial sales and pre-order numbers are promising, with positive feedback from various global markets, including Dubai and China, where long lines were reported [5][13][14] - The company is optimistic about the early sales figures and is actively monitoring consumer interest across different regions [6][14] Competitive Landscape - The company acknowledges the competitive environment, particularly with other tech giants like Nvidia and Intel, and expresses a willingness to explore potential collaborations [11] - There is a focus on enhancing manufacturing capabilities in the U.S., supported by training programs to ensure a skilled workforce [12] Retail Experience - The retail experience at Apple stores is designed to be efficient and customer-friendly, contributing to a positive shopping atmosphere during product launches [17][18]

Key Points Alphabet's earnings are increasingly driven by AI. Chip company ON Semiconductor has a big future once electric vehicle investment recovers from its cyclical low. Synopsys' latest acquisition makes sense, but it will need to adjust to some challenging market conditions in its smaller segment. 10 stocks we like better than ON Semiconductor › Google owner Alphabet (NASDAQ: GOOG) (NASDAQ: GOOGL), ON Semiconductor (NASDAQ: ON), and Synopsys (NASDAQ: SNPS) have had vastly different years on ...

JOE: COUNTING DOWN TO THE FED AND MEETING OF THE MINDS. WE APPROACH THE FED’S INTEREST RATES AND PRESIDENT TRUMP MEETING WITH PRESIDENT XI. WE WILL GET AN UPDATE FROM SOUTH KOREA AS HE MAX HAS WAY THROUGH THE SUMMIT AND WE WILL HAVE A MECHANICAL PANEL AND BY THE TIME THIS HOUR IS DONE WE WILL HAVE SPECIAL COVERAGE ON WASHINGTON.WE HAVE THE LATEST ON THE TRADE AS WE GET SET FOR AN INTEREST RATE CUT. >> YOU ARE RIGHT ON THAT. ONE HOUR FROM NOW WE HAVE YOU COVERED ON BLOOMBERG TELEVISION AND RADIO WITH MICHAEL ...

Core Insights - Apple is reportedly on the verge of acquiring Formula 1 live rights, which could significantly enhance its sports portfolio and viewing experience for fans [1][10][15] - The value of Formula 1 rights has dramatically increased, from approximately $4 million 12 years ago to an estimated $140-$150 million per year, indicating a growing interest in the sport [10][11] - Despite the growth, the current viewership in the U.S. is relatively small, with only about 1 million people watching a given race, suggesting substantial potential for further expansion [11][12] Group 1: Apple and Formula 1 Relationship - Apple has a long-standing admiration for Formula 1, with a personal connection to the sport through its board member involvement with Ferrari [4][8] - The company has previously produced a movie related to Formula 1, which has helped to elevate the sport's profile and showcase the athleticism of its drivers [5][7][6] - There is a strong alignment between Apple's technological focus and the advanced technology utilized in Formula 1, making it a natural fit for collaboration [25][26] Group 2: Viewing Experience Innovations - Apple aims to enhance the viewing experience for Formula 1 by leveraging its technology, including high-quality video and innovative camera placements [17][20] - The potential integration of augmented reality through devices like Vision Pro could revolutionize how fans experience races, providing immersive and interactive viewing options [21][22] - The company has learned valuable lessons from its partnerships with other sports leagues, which could inform its approach to broadcasting Formula 1 [16][34] Group 3: Sports Strategy and Market Dynamics - The current sports landscape presents both opportunities and challenges for Apple, as the company seeks to acquire comprehensive rights to sports content while navigating a fragmented subscription model [28][33] - There is a growing demand for a more streamlined viewing experience, with fans expressing frustration over the complexity of multiple subscriptions and blackout restrictions [29][30][35] - Apple's strategy emphasizes the importance of providing unique and differentiated offerings in the sports broadcasting space, rather than simply competing for existing rights [44][55]

Core Viewpoint - Apple is set to report its fourth-quarter earnings, with expectations of strong revenue and earnings per share driven by new iPhone demand and services growth [1][2]. Financial Performance Expectations - Analysts anticipate Apple will generate $102 billion in revenue for the fourth quarter, with earnings per share projected at $0.95 [1]. - Goldman Sachs estimates iPhone product revenue will increase by 10% year-over-year to $50.8 billion, surpassing the consensus estimate of $49.8 billion [9]. - Services revenue is expected to grow by 13% year-over-year, fueled by subscription services like iCloud+ and AppleCare+ [10]. Analyst Insights - Bank of America has a positive long-term outlook for Apple, highlighting potential revenue growth from artificial intelligence and strong demand for new iPhones, estimating total iPhone unit sales at 57 million for the current quarter [3][4]. - JPMorgan expects Apple earnings to perform modestly better through the end of the year, driven by strong demand for the iPhone 17 [11]. - Melius Research believes Apple is "getting its groove back," with anticipated improvements in sales in China and profit margins due to new iPhone demand [13][14]. Price Targets and Ratings - Bank of America raised its price target for Apple from $270 to $320, indicating a 7% upside from current levels [4]. - Goldman Sachs reiterated a "Buy" rating with a price target of $279, suggesting a 3% upside [10]. - CFRA Research issued a "Buy" rating with a price target of $280, implying a 4% upside [16].

The world of exchange-traded funds (ETFs) continues to expand at a rapid pace. Today, investors can trade in a plethora of strategies, including active and passive offerings.With the advent of artificial intelligence (AI) and the rapid rise of this sector, investors have rushed to participate in AI growth, and Wedbush has capitalized on this demand.Named after Dan Ives, the Dan IVES Wedbush AI Revolution ETF (NYSE:IVES) is reporting that it has hurdled the $1 billion milestone. While not that much in the wo ...

The Trump administration is purging all members of one of the key federal agencies that was expected to advise the East Wing Ballroom Project. >> Yesterday, the White House fired all six members of the Commission of Fine Arts, the independent agency established by Congress to assist the president on design and preservation in the nation's capital. All of the members who were on the commission had been chosen by President Biden.They will need to be replaced with new appointees from President Trump. The purge ...

ToplineNvidia on Wednesday became the first company in history to be valued at $5 trillion, the latest milestone by the artificial intelligence giant as shares have grown exponentially over the last decade. The company, worth $10 billion a decade ago, has reached record milestones driven by growing AI demand.AFP via Getty ImagesKey FactsNvidia’s shares increased by 3.4% to around $207.85 as trading opened Wednesday, following an earlier surge in premarket, setting a new intraday high for the stock.An uptick ...

Group 1: Market Overview - Nvidia is approaching a $5 trillion valuation following product updates and partnerships announced at its GTC event [8][10] - Wall Street is expected to open positively, driven by optimism surrounding a potential trade deal between the US and China [2][3] - The Federal Reserve is widely anticipated to cut interest rates by 25 basis points, despite ongoing government shutdown concerns [5][18] Group 2: Earnings Reports - Major tech firms including Google, Meta, and Microsoft are set to report earnings, with a focus on AI investments and data center expansions [6][7] - Microsoft and OpenAI's partnership has resulted in a 27% stake for Microsoft in OpenAI, valued at approximately $135 billion [7] - Caterpillar reported adjusted earnings per share that exceeded analyst expectations, leading to a pre-market share increase of over 4.5% [12] Group 3: Trade Relations and Tariffs - President Trump is considering reducing tariffs on Chinese goods from 20% to as low as 10% [4] - The upcoming meeting between President Trump and President Xi is expected to address trade relations and Nvidia's AI chip initiatives [4][30] - Tariffs are projected to have a delayed inflationary impact, taking between 9 to 18 months to affect final prices [31] Group 4: Industry Trends - SK Hynix, a key supplier for Nvidia, reported a 62% surge in operating profit, driven by high demand for AI chips [39][40] - Copper prices have reached record highs due to supply concerns, exacerbated by tariffs and production disruptions [52][54] - The automotive sector is experiencing mixed results, with Mercedes-Benz confirming its annual outlook and Toyota announcing a shift towards electrification despite overall market challenges [43][45]