Big Tech Earnings and the Fed's Higher-For-Longer Policy
Bloomberg Surveillance
Bloomberg
3.8 • 1.2K Ratings
🗓️ 25 October 2023
⏱️ 37 minutes
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Summary
Mandeep Singh, Bloomberg Intelligence Senior Technology Analyst, breaks down a busy week of tech earnings starting with Microsoft and Alphabet. Marvin Loh, State Street Senior Global Macro Strategist, says the Fed will maintain its higher-for-longer policy for longer than many expect. Greg Valliere, AGF Investments Chief US Policy Strategist, believes President Biden has enough support in Congress to eventually pass an aid package for Israel and Ukraine. Steven Ricchiuto, Mizuho Securities Chief US Economist, says the Fed has shifted its priority from inflation to employment. Katy Kaminski, AlphaSimplex Chief Research Strategist, says we may not yet have seen the bottom of the long-end of the bond market.
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| 1:00.0 | Man Deep Singh is the smart guy, senior technical analyst and Bloomberg intelligence. |
| 1:06.0 | What you learned from Mr. Nadella yesterday? This was the mother of all home-run reports. |
| 1:12.0 | Yeah, I mean, the Azure Acceleration. I think they sort of sandbag expectations because last quarter, |
| 1:19.0 | it was like 1% contribution from AI-related stuff. This quarter, it was 3%, and the expectation is it's going to keep growing. |
| 1:28.0 | But everyone knows that they are looking to deploy their large-angle models, train their LLS. |
| 1:34.0 | And look, this is a secular trend. |
| 1:37.0 | I mean, Tyler Radke, it's sitting here published. I believe it was this morning, maybe late last night. |
| 1:41.0 | And he just said, you know, this is like a complete report. |
| 1:45.0 | Define what co-pilot is. |
| 1:48.0 | Yeah, so right now they have a GitHub co-pilot, which basically allows developers to be more productive because it writes. |
| 1:57.0 | For a fee. |
| 1:58.0 | For a fee, and they are charging $10, and they have about $10 million, you know, people signed up. |
| 2:04.0 | So it's already a pretty sizable revenue fee. |
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