Apple Shines, Pres. Trump-Nvidia CEO Meeting, Vertex CEO on Non-Opioid Painkiller Approval 1/31/25

Squawk on the Street

CNBC

Business, Investing, News

4.1 • 567 Ratings

🗓️ 31 January 2025

⏱️ 43 minutes

🔗️ Recording | iTunes | RSS

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Summary

Carl Quintanilla, Jim Cramer and David Faber led off the show with shares of Apple rising on better-than-expected quarterly results and revenue guidance -- despite an iPhone sales miss, hurt by a slump in China. President Trump and Nvidia CEO Jensen Huang expected to hold a Friday meeting at the White House. Vertex Pharmaceuticals CEO Reshma Kewalramani joined the program to discuss FDA approval of her company's non-opioid painkiller -- marking the first time in decades that the U.S. has approved a new type of pain medication. Also in focus: The Fed and PCE, Trump tariffs deadline watch, Chevron and Exxon Mobil earnings, D.C. plane crash investigation. Squawk on the Street Disclaimer

Transcript

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0:00.0	Market Moving Insight and Analysis joined Jim Kramer, David Faber, and me, Carl Cantonia, on the opening bell hour of CNBC Squawk on the Street. Good Friday morning. Welcome to Squawk on the Street. I'm Carl Cantonia with Jim Kramer, David Faber, post-9 of the New York Stock Exchange. Stocks look to close out the month of January with a gain, maybe to all-time highs, while also bracing for the possibility of tariffs this weekend.
0:21.6	PCE was broadly in line, but that 12-month headline does rise to 2-8.
0:26.6	Our roadmap begins with Apple's bounds today.
0:28.6	Shares are rallying after a positive sales outlook, signaling an iPhone recovery.
0:33.6	Plus, Trump's tariff deadline, the President has confirmed he will impose 25% tariffs on imports from Mexico and Canada that could start tomorrow.
0:43.5	And the FDA greenlights and non-opioid pain killer.
0:46.5	In fact, Jim's been talking about this for a long time.
0:49.3	It's the first of a new kind of pain medicine in decades.
0:52.2	We will be joined by the CEO of the company.
0:54.0	We're talking about Vertex Pharma. We will be joined by the CEO of the company. We're talking
0:54.4	about vertex pharma. That'll be this hour. Let's begin with Apple rising on this quarterly
1:00.0	beaten revenue guide. That despite an iPhone sales that number that was a miss, hurt by a slump in
1:04.7	China. Services revenue was a bright spot, hitting a record high. Jim Webb Bush today says
1:09.8	it's like trying to tackle
1:11.9	Sequin. The Bears miss again. You can put eight up front. It doesn't seem to matter. I do think
1:18.1	that the best news I felt was that where they have their Apple intelligence, their AI, sales
1:24.1	are up. Now, they don't have it yet in China. Look, they need a partner in China.
1:28.5	We know that Shaw Media, Huawei, they could have partners. They could use Deep Sea for all we know.
1:34.0	But it does matter that when they have AI, things go better because then you don't have to guide down the next quarter or two.
1:42.5	And people felt that the big issue would be the forecast cut.
1:45.4	There was no forecast cut.
1:47.7	David, this installed base, 1.38 billion users, you know, just phone users, 2.35 active devices.
	...

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