Closing Bell: Apple Ripe for More Gains? 5/3/24
Closing Bell
CNBC
4.4 • 139 Ratings
🗓️ 3 May 2024
⏱️ 42 minutes
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| 0:00.0 | Welcome to Closing Bell. I'm Scott Wobner live from Post 9 here at the New York Stock Exchange on this Friday and this make-or-break hour begins with the rally in stocks and whether the Bulls got just what they needed this week. |
| 0:10.0 | A less hawkish than feared fed and a better than expected apple. |
| 0:14.0 | No doubt two key catalysts behind this late week surge. |
| 0:17.0 | We'll ask our experts over this final stretch, where we go from here. |
| 0:21.0 | In the meantime, take a look at the scorecard with 60 minutes to go in regulation. |
| 0:25.5 | Stocks getting an immediate boost today from that employment report, fewer jobs added, |
| 0:29.6 | plus a bump in the unemployment rate sending yields down the major averages higher and that is |
| 0:34.1 | where they have remained. |
| 0:35.4 | There is your rate picture today. |
| 0:37.3 | 450 on the 10-year. |
| 0:38.3 | Well Apple has said obviously helping too. |
| 0:40.6 | That stock having its best week since December of 2021. |
| 0:44.0 | Results less bad than feared and the announcement of a massive buyback, the main catalyst there. |
| 0:50.0 | It takes us to our talk of the tape. |
| 0:52.0 | Is this the week that Apple finally found its footing? |
| 0:55.0 | Let's ask Eric Woodring. He is Morgan Stanley's Apple analyst. He is with us at |
| 0:59.0 | Post Nine for his first TV reaction to that report. Good to see you. Good to see you. Welcome back. So I look at your notes today. |
| 1:05.0 | You say, quote, it's hard to not be more bullish on Apple here. Why so? |
| 1:09.5 | Sure. So I think the risk ultimately coming into earnings was a fear of a guide down. |
| 1:14.1 | We actually got a guide up. |
| 1:15.8 | So we move past the June quarter guide now and we look at the developer conference upcoming, |
| 1:21.0 | the iPhone launch coming later in September. |
... |
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