Big tech earnings signal tariff resilience 5/2/25

TechCheck

CNBC

Disruptors, Investing, Faang, Technology, Business, Management, Cnbc, Tech

4.8 • 56 Ratings

🗓️ 2 May 2025

⏱️ 5 minutes

🔗️ Recording | iTunes | RSS

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Summary

As Apple and Amazon mark the tail end of the big tech earnings season, megacaps are sending bullish signals about their ability to weather the tariff storm. Amazon's CEO said AI demand is growing triple digits while Apple shifts production to India and Vietnam. But it might also be too early to capture the full impact of macro uncertainties, and quarters ahead could be messier.

Transcript

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0:00.0	Apple and Amazon reports marking the tail end of the big tech earning season.
0:04.4	So after all the looming questions on macro and tariff uncertainties, what signals did we actually
0:08.7	get from the mega caps about what's coming?
0:11.2	Deirdre Bosa has a wrap up for us in today's tech check.
0:14.6	Morning, Deirdre.
0:16.5	Hey, good morning, Sarah.
0:17.7	So tariffs, right, they were supposed to rattle the mega caps, but instead, the signal for
0:23.1	now is resilience.
0:24.8	It was their scale, diversification, balance sheets, massive balance sheets, showing more
0:29.7	defensive strength.
0:30.8	Amazon, for example, was down after hours yesterday, but it has recouped most of those
0:34.7	losses in today's session.
0:36.4	AWS margins held up.
0:37.8	Andy Jassy said AI demand is growing triple digits.
0:40.7	And of course,
0:41.1	its sprawling seller network,
0:42.8	that helped cushion the blow from tariffs.
0:45.1	Apple, meanwhile, it is facing more questions,
0:47.4	but still its CAPEX is up more than 50%
0:49.7	a possible tell perhaps on AI plans,
0:52.1	and it continues to pull on levers
0:53.9	that only a company of its scale can,
	...

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