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Closing Bell

Closing Bell Overtime: Apple Earnings Extravaganza, Plus Qualcomm and AWS CEOs 5/2/24

Closing Bell

CNBC

News, Business

4.4139 Ratings

🗓️ 2 May 2024

⏱️ 46 minutes

🧾️ Download transcript

Summary

Apple announced the largest corporate buyback in history and investors sent the stock higher in Overtime. We have you covered from every angle. Plus, Qualcomm CEO Cristiano Amon on his company's strong quarter and AWS CEO Adam Selipsky on what's driving growth.

Transcript

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0:00.0

Stocks getting a boost as investors digest the Fed with more big earnings and a jobs report still on the way

0:06.8

That is the scorecard on Wall Street, but winter stay late. Welcome to closing bell overtime. I'm John Fort Morgan Brennan is off today and we're just minutes away from the

0:14.6

earnings report that all of Wall Street will be watching. Apple take center

0:19.2

stage and 30 minutes after a rough start to the year for the stock,

0:23.1

we're going to bring you the numbers live from Cupertino

0:25.7

and get instant shareholder and analyst reaction.

0:29.1

Also ahead, an exclusive interview

0:31.0

with Amazon Web Services CEO Adam Salipsky following strong AWS results in this week's Amazon earnings.

0:37.6

His read on the cloud and AI spending is ahead.

0:41.1

Now as we await earnings, let's get the market and a solid day

0:44.8

under our belt for the major averages it was led by the NASDAQ and the

0:48.6

Russell 2000 joining us are head of Citizens JMP securities, Mark Lehman, and

0:54.1

CMbC Senior Markets Commentator Mike Santoli.

0:56.4

Guys, I guess we're buckling up.

0:58.7

Mark, interesting end to the trading day. The major indices faded a bit but it was led by

1:05.4

some of the smaller riskier stuff it seemed like when we've got one of the

1:09.6

biggest of the big names reporting after the bell. It was a good day. It was green. We stayed higher.

1:16.0

We're going into a big earnings report obviously, kind of the end of, I guess, the fang stocks,

1:21.0

although we don't call them that anymore.

1:23.0

But it's good to see and the bounce is real and we're going to learn a lot from

1:27.0

Apple, obviously diminished expectations for that stock, but I think all eyeballs are on that because it's such a big bellwether.

1:34.0

Mike, it's been an interesting earning season for the larger tech names in the sense that we had

...

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