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CNBC's "Fast Money"

Magnificent 7’s Moment of Truth, and What Florida’s Proposed Social Media Ban Could Mean for the Stocks 1/26/24

CNBC's "Fast Money"

CNBC

News, Business, Investing

3.91.3K Ratings

🗓️ 26 January 2024

⏱️ 43 minutes

🧾️ Download transcript

Summary

More than $10.5 trillion worth of market cap is set to report earnings next week, but will big tech deliver on investor expectations? Plus Florida legislators approving a ban on social media for kids under 16. What could it mean for the stocks in the space? Fast Money Disclaimer

Transcript

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0:00.0

Live from the Nasak Market site in the heart of New York City's Times Square,

0:05.0

this is fast money. Here's what's on tap tonight. We are counting down to next week's

0:09.3

mega cap earnings bonanza. More than 10 and a half trillion dollars worth of market

0:14.0

cap set to report in the coming days. Will the results live up to expectations or

0:17.8

will a magnificent rally lose some of its seeds? Plus social welfare, Florida

0:22.4

legislators approving a bill to ban

0:24.6

social media use for kids. Can the measures go through and what impact could they

0:28.8

have on the biggest social stocks will debate that? And later Amex at an apex shares at the credit card company

0:34.6

hitting record highs on the back of earning what did the numbers say about the

0:37.8

strength of the consumer and the future financials. I'm Melissa Lee come to you

0:41.6

live in Studio B at the Nasak on the desk tonight Tim Seymour Carterworth Dan Nathan and Julie Beale will join us in just moments

0:48.0

We start off what might be the moment of truth for the Mag7 alphabet Microsoft Amazon Apple and Meta platforms

0:54.9

all on tap to report earnings next week and most of these stocks have been rallying

0:59.0

ahead of the results meta shares in fact hitting a record high today up nearly 170% over the past year.

1:05.3

Amazon trading and highs not seen since spring of 2022.

1:08.9

It is up 60% over the last 52 weeks, but will the results support continued gains?

1:14.0

We rally off of them are we in for a terrible setup here. Tim what do you think?

1:18.0

I think the most important ones are kind of split here. I think Apple, I don't think they're going to

1:23.6

wow us with anything. They're probably going to have some surprises on the

1:26.3

capital market side. The capital return story continues to be really positive.

1:29.6

And the margin in their business around services is something that's interesting.

1:33.2

Microsoft though, look, Azure, we've kind of been guided 27 to 28 percent.

...

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