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Closing Bell

Closing Bell Overtime: Rubrik CEO on Earnings & John Gruber on Apple’s AI Rot 3/13/25

Closing Bell

CNBC

News, Business

4.4139 Ratings

🗓️ 13 March 2025

⏱️ 43 minutes

🧾️ Download transcript

Summary

Schwab Asset Management CEO Omar Aguilar and Richard Bernstein Advisors CEO Richard Bernstein break down the latest market moves. Stifel Chief Equity Strategist Barry Bannister shares his outlook on equities and his Street-low S&P 500 target. Pangea Policy Founder Terry Haines discusses the government shutdown threat and tariff implications. Rubrik CEO Bipul Sinha joins to talk earnings and cybersecurity trends. Plus, Daring Fireball Author John Gruber on Apple’s AI struggles and what it means for the tech giant’s future.

Transcript

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0:00.0

Well, that bell marks the end of regulation.

0:02.5

Elta MD skincare ringing the closing bell through New York Stock Exchange, Pilgrim's Pride Corporation,

0:07.2

doing the honors at the NASDAQ.

0:08.9

And another ugly day as the S&P 500 falls into correction territory.

0:14.5

The Dow sinks below 41,000 as investors deal with more tariff worries, uncertainty in Washington.

0:20.6

That's the scorecard on Wall Street, but winners stay late.

0:23.3

Welcome to closing bell overtime.

0:24.4

I'm John Fort.

0:25.4

Morgan Brennan is off today.

0:26.9

We got another big hour of earnings ahead with results from Rubrik, DocuSign, PagerDuty,

0:32.3

and Alta Beauty, plus a first on CNBC interview with Rubrik CEO before his call with analysts.

0:38.7

And a major red flag for Apple.

0:41.0

Noted Apple blogger John Gruber is out with a scathing post about the company's AI delays as that stock falls again today.

0:48.9

He's going to join me live with his warning for Tim Cook as the stock paces for its worst week since 2020.

0:55.5

Now let's get straight to the market another day in the red with the Dow now pacing for

0:59.9

its worst week since 2022.

1:02.9

Joining me is Schwab Asset Management CEO and CIO Omar Aguilar and Richard Bernstein

1:08.0

advisor's CEO and CIO Richard Bernstein, guys, we could use some

1:12.8

clarity or at least some great insights here.

1:15.7

Omar, it's been a pretty steep drop since February 19th.

1:20.6

And that's despite a cool CPI, friendly PPI number.

1:24.8

Is it time to buy?

...

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