Big Tech Layoffs, Signs of Housing Trouble

Motley Fool Hidden Gems Investing

The Motley Fool

Business, Investing

4.3 • 3.1K Ratings

🗓️ 20 January 2023

⏱️ 39 minutes

🔗️ Recording | iTunes | RSS

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Summary

Alphabet and Microsoft are laying off a combined 22,000 employees. Is Apple next? (0:21) Matt Argersinger and Jason Moser discuss: - The ripple effect of Big Tech Layoffs - Netflix founder Reed Hastings stepping down from his co-CEO role - Cancellation rates soaring in one segment of the housing market - Differing views on interest rates from two major bank CEOs - The latest from Procter & Gamble, Nordstrom, and holiday retail data (19:11) John Rotonti talks with Jurrien Timmer, Director of Global Macro at Fidelity Investments, about what history can teach about the current market cycle and sectors that may hold opportunities for investors. (33:30) Jason and Matt answer listener questions about CEOs they'd like to shadow for a day and under-the-radar trends, and share two stocks on their radar: Roper Technologies and Regions Financial. Motley Fool Stock Advisor is open to new members for just $99 a year. Join the hundreds of thousands of investors in Stock Advisor by going to www.fool.com/intro. Stocks discussed: MSFT, GOOG, AAPL, NFLX, KBH, JWN, PG, JPM, MS, BX, ETSY, SBUX, ROP, RF Host: Chris Hill Guests: Jason Moser, Matt Argersinger, John Rotonti, Jurrien Timmer Engineer: Rick Engdahl Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0	We've got CEOs to follow under the radar trends to watch and we got the latest from Big Tech.
0:10.6	Motley Fool Money starts now.
0:12.6	Everybody needs money.
0:23.6	That's why they call it money.
0:25.6	This is Motley Fool Money.
0:35.6	It's the Motley Fool Money radio show.
0:37.4	I'm Chris Hill joining me.
0:38.4	Motley Fool, senior analyst Jason Moser and Matt Argusinger.
0:42.1	Good to see you both.
0:43.1	Chris, we got the latest news from Wall Street.
0:46.1	We're going to dip into the full mail bag and as always we've got a couple of stocks on
0:49.4	our radar.
0:50.4	We begin with Big Tech, this week Microsoft and Alphabet became the latest major companies
0:56.5	to announce layoffs.
0:58.1	From Microsoft it was 10,000 employees, roughly 5% of the workforce, Alphabet, 12,000 employees,
1:05.4	nearly 7% of the workforce and Matt, a common refrain from these companies in the sense
1:12.1	that both talked about how they overhired during the pandemic.
1:16.7	Right.
1:17.7	That's not a secret anymore.
1:20.1	It just seems like every day we're getting a new major announcement that a tech company,
1:25.5	a major tech company is cutting tens of thousands or thousands of jobs, 67% of their workforce.
1:31.0	It almost feels like we're getting numb to this happening.
	...

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