Closing Bell: Moment of Truth for Tech? 1/30/24

Closing Bell

CNBC

News, Business

4.4 • 139 Ratings

🗓️ 30 January 2024

⏱️ 43 minutes

🔗️ Recording | iTunes | RSS

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Summary

We are counting down to the critical earnings reports in Overtime – with both Microsoft and Alphabet on the docket. All-star panel of Alger’s Ankur Crawford, JP Morgan Asset Management’s Meera Pandit and CNBC Senior Markets Commentator Mike Santoli break down what they’re watching and what it at stake. Plus, Sebastien Page from T. Rowe Price is flagging what he thinks is the biggest risk to the market this year. And, star chip analyst Stacy Rasgon explains what he is watching ahead of AMD’s report after the bell.

Transcript

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0:00.0	Welcome to Closing Bell. I'm Scott Wapner live from Post 9 here at the New York Stock Exchange.
0:05.0	This make-a-break hour begins with the final stretch before arguably the biggest night of the year for the markets.
0:10.0	Microsoft, Alphabet, AMD, all reporting earnings in overtime.
0:14.0	AI, of course, front and center.
0:15.9	Each of those stocks up a ton over the past three months,
0:18.9	raising the bar and the stakes even higher.
0:21.5	We'll ask our experts what's likely to happen in just a few moments.
0:25.0	First, your look at the scorecard with 60 minutes to go in regulation. It's been a rough day,
0:30.1	mostly for the NASDAQ today. Some mega cap names are in the red,
0:34.4	including those that report this evening.
0:36.9	A bit of a mixed picture,
0:38.2	we'll track it all over the final stretch.
0:39.8	Apple selling off after an influential analyst in Asia says iPhone shipments could fall
0:44.7	15% this year on so-called structural challenges. Elsewhere, UPS falling on its
0:50.6	outlook as it lays off 12,000 workers and a washout today for Whirlpool
0:54.9	after its guidance disappointed investors.
0:57.6	All of it takes us to our talk of the tape, the countdown to these critical earnings reports
1:01.3	in overtime. Steve Kovac covering Microsoft of course for us and
1:05.1	dear Jabosa covering alphabet.
1:07.1	Steve, we begin with you for this critical setup.
1:10.1	Yeah, let's set it up and it's not just AI though, Scott. Let's talk about
1:14.3	Azure cloud growth because that's all related. Look, we saw last quarter that
	...

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