Apple Sinks to Kick Off 2024, While Bitcoin Breaks Back Above $45,000 1/2/24

CNBC's "Fast Money"

CNBC

Investing, News, Business

3.9 • 1.3K Ratings

🗓️ 2 January 2024

⏱️ 44 minutes

🔗️ Recording | iTunes | RSS

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Summary

A stark warning for the world’s biggest company – Barclays downgrading Apple stock as it sees weak demand for its latest iPhones. The stock taking the rest of the tech-heavy Nasdaq down with it. But is this just a sign of sector rotation or a bigger omen for the market? Plus bitcoin hit its highest level since April 2022. But what happens to the crypto once we get a decision on the bitcoin ETF? Fast Money Disclaimer

Transcript

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0:00.0	Live from the Nasac Market site in the heart of New York City's Times Square,
0:05.0	this is fast money. Here's what's on tap tonight.
0:07.3	Bruised Apple, the tech giant stumbling to start the year down over 3.5%.
0:11.4	Barclay is downgrading the stock,
0:13.2	saying it is time to take a breather.
0:14.7	Is it simply a profit-taking move
0:16.7	or the beginning of a meaningful mag seven rotation?
0:19.6	Plus, ripping high, Bitcoin starting 24, the way it ended 23, booming, but will the rallies stall
0:25.7	out once the ETF gets a thumbs up?
0:27.8	And what happens to all the stocks that sort along with crypto?
0:30.8	And later, we'll go inside the numbers of a farmer stock that is so bad, even Dan,
0:36.2	even Dan thinks it could be good right now.
0:39.0	The big reveal of the reasons why coming up.
0:41.1	I'm Melissa Lee coming to you live from studio be at the
0:43.1	Nasak. Happy New Year everybody on the desk tonight. To see for Dan Nathan
0:47.3	Guy Dami and Mike Coe. We start off with a sign that might confirm last year's
0:51.3	mega-cap tech rally is truly in the past.
0:54.0	shares of Apple sinking more than 3.5% for its worst performance since last September.
0:59.2	The stock closing the day at its lowest point since mid-November.
1:02.3	The move coming after Barclays cut its
1:03.9	rating on the stock to an underweight citing concerns over demand for the latest
1:07.5	iPhone. UBS also pointing to specific weakness in the US and China, but it wasn't
	...

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