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TechCheck

Tech CEOs still waiting for return on Trump bet 04/11/25

TechCheck

CNBC

Disruptors, Investing, Faang, Technology, Business, Management, Cnbc, Tech

4.856 Ratings

🗓️ 11 April 2025

⏱️ 5 minutes

🧾️ Download transcript

Summary

Tech COEs flipped the script for Trump 2.0 and played nice with millions in donations to Trump’s inauguration and visits to Mar-a-Lago. We look at why they are still waiting for a return on their charm offensive.

Transcript

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0:00.0

mega cap tech stocks far from immune of course to the recent market volatility falling again

0:04.8

today well actually up a little bit yesterday though more than four percent lower despite

0:11.1

many of the CEOs of these companies efforts to court the trump administration dear

0:16.0

drubosa digs into that as the subject to today's tech check, Deirdre.

0:25.0

It didn't do a whole lot, David, tariffs, they're hitting Apple, FTC versus Meta.

0:26.1

That's moving ahead today.

0:30.9

And infrastructure costs, they are rising for the mega caps that have staked their futures on building and delivering AI.

0:32.9

So not only has big techs courtship not paid off, but they're facing arguably more uncertainty

0:38.2

and hostility than they did during the previous administration.

0:41.5

Just a reminder audience, tech kicked off the second Trump presidency with visits to Mara Lago,

0:45.9

front row seats, millions of dollars in donations to Trump's inauguration, hundreds of billions of

0:51.7

dollars, and American manufacturing projects for Trump to take credit for.

0:56.1

And that was a major contrast to Trump 1.0 when tech leaders, they kept their distance and they

1:00.7

clash publicly with the White House.

1:03.0

Now, let's go through them.

1:03.9

For Apple, there's no indication that Tim Cook's playbook during that first administration

1:08.2

is working this time around.

1:10.1

And it looks unlikely that it's unable to avoid rising iPhone costs, at least right now.

1:15.5

The company reportedly airlifting 600 tons of iPhones from India to beat the tariffs and shares.

1:20.7

They're down 15% since Trump was sworn in.

1:23.0

There's meta and Alphabet, meanwhile, that stand to lose control of some of their most critical and

1:27.6

lucrative businesses. Today, the FTC's antitrust trial against meta kicks off. That could

...

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