The United States v Apple part 3
Wall Street Breakfast
Seeking Alpha
4.1 • 1K Ratings
🗓️ 21 March 2024
⏱️ 6 minutes
🧾️ Download transcript
Summary
Show Notes
Micron soars as Q2 results, guidance blow past expectations
Astera Labs soars as investors receive latest chip IPO
Episode transcripts seekingalpha.com/wsb
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Transcript
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| 0:00.0 | Welcome to See King Alpha's Wall Street breakfast, where we cover the top news for investors every morning. |
| 0:08.0 | Good morning. Today is Thursday, March 21st, and I'm your host, Kim Khan, filling in for Julie Morgan. |
| 0:13.0 | The U.S. Department of Justice plans to sue Apple for violating antitrust laws |
| 0:17.6 | as soon as today, according to published reports. The suit alleges that Apple blocked |
| 0:22.1 | rivals from accessing hardware and software features on its ever popular iPhone. |
| 0:27.0 | This would be the third time the DOJ has sued Apple for alleged antitrust violations. |
| 0:31.0 | The DOJ is already suing Alphabet's Google for alleged |
| 0:34.6 | monopolization in its advertising business. Apple rose 1.5% on Wednesday amid the |
| 0:40.1 | market's risk-on move, but the stock is down about the same amount pre-market. shares of under-percent the market. |
| 0:44.0 | shares have underperformed this year, down more than 7%. |
| 0:48.0 | Reddit is set to debut on the New York Stock Exchange today |
| 0:51.0 | with signs of solid demand. |
| 0:52.0 | The company raised 748 million |
| 0:54.7 | Wednesday night pricing its IPO of 22 million shares at $34 a piece the top of its |
| 1:00.0 | range. About 15.3 million shares are being sold by the company and about 6.7 |
| 1:05.4 | million shares are being sold by certain stockholders. Last week Reuters reported |
| 1:09.4 | that the Message Board cites IPO was between four and 5 times oversubscribed. |
| 1:14.0 | Reddit offered active users, including moderators and users with high karma, a chance to buy shares in its |
| 1:19.8 | IPO using a tier system to allocate shares. |
| 1:23.0 | Reddit said the first tier included certain users and moderators identified by us who have |
| 1:27.9 | meaningfully contributed to Reddit's community programs. |
| 1:31.6 | Next in line were users with at least 200,000 karma and at least 5,000 moderator |
... |
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