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Closing Bell

Closing Bell: Valuation Frustration in Tech 02/05/25

Closing Bell

CNBC

News, Business

4.4139 Ratings

🗓️ 5 February 2025

⏱️ 42 minutes

🧾️ Download transcript

Summary

From the open to the close, “Closing Bell” and “Closing Bell: Overtime” have you covered. From what’s driving market moves to how investors are reacting, Scott Wapner, Jon Fortt, Morgan Brennan and Michael Santoli guide listeners through each trading session and bring to you some of the biggest names in business.

Transcript

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0:00.0

Welcome to closing bell. Scott Wobner live from Post 9 right here at the New York Stock Exchange.

0:04.2

This makeup break hour begins with the alphabet aftermath. What it means for how the mega caps will trade from here a day when there is mixed action.

0:11.2

And we're going to get to that in just a bit. In the meantime, let's show you the scorecard here with 60 to go in regulation.

0:16.6

Green, but somewhat muted. Nasdaq, in fact, dipping into the red today strengthen financials there

0:22.8

is strength in tech despite alphabet utilities as well weakness and energy discretionary and

0:28.8

comm services we'll get to that yields mostly lower there are some standout moves we want to

0:33.5

tell you about uber shares are sinking after its outlook, disappointed the street,

0:42.8

and Mattel is higher on a strong forecast and some price target increases as well. It does take us to our talk of the tape today. A tale of three techs, alphabet and Apple pressured, invidia

0:48.1

surging, and that is helping the NASDAQ. Today, we have reports on all three of those.

0:54.3

Steve Kovac on Apple's latest China headache, Deerjibosa on alphabets, post-earnings,

0:58.9

ugliness, and Christina Parts of Nevelos on Nvidia's strong session as AMD pulls back today.

1:04.8

Steve, we'll begin with you, this headache that just won't go away.

1:07.8

Did you just downgrade it from earlier from a migraine, Scott?

1:10.4

It was a migraine on half that report. Anyway, here's what's going on with the shares here today.

1:15.1

We see the shares down about half a percent now. This is from a Bloomberg report overnight saying

1:19.5

the China App Store is being investigated. This is over those 30 percent fees that Apple charges.

1:25.5

This is the same kind of investigations and lawsuits and so forth

1:29.0

we've seen all around the world, including here in the United States and in Europe.

1:33.8

And what's at risk here is, of course, the apps for revenue that plays into the services

1:37.7

and overall margins that we've seen at Apple that continue to grow. All of those things have

1:42.6

been picking up the slack for sluggish iPhone

1:44.6

sales, especially in China. That is going to be a big worry here. Bank of America had a good

...

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