Micron Plunges On Weakness, Musk's Political Power

Bloomberg Technology

Bloomberg

Tech News, Business, News

4.5 • 49 Ratings

🗓️ 19 December 2024

⏱️ 47 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

Bloomberg's Caroline Hyde discusses Micron's big stock move lower as the company reports a weak chips outlook. And, Elon Musk wields political power, influencing a potential US government shutdown. Plus, Apple scraps its hardware subscription plans.

See omnystudio.com/listener for privacy information.

Transcript

Click on a timestamp to play from that location

0:00.0	exchanges. The Goldman Sachs podcast featuring exchanges on the forces driving the markets and the economy.
0:07.8	Exchanges between the leading minds at Goldman Sachs. New episodes every week. Listen now.
0:15.1	The forces shaping markets and the economy are often hiding behind a blur of numbers.
0:19.9	So that's why we created the big take from Bloomberg Podcasts, to give you the context
0:24.6	you need to make sense of it all.
0:26.6	Every day in just 15 minutes, we dive into one global business story that matters.
0:31.2	You'll hear from Bloomberg journalists like Matt Levine.
0:34.2	A lot of this meme stock stuff is, I think, embarrassing to the SEC.
0:38.4	Follow the Big Take podcast on the IHeart Radio app, Apple Podcasts, or wherever you listen.
0:47.4	Bloomberg Audio Studios.
0:50.0	Podcasts, Radio News.
0:54.0	From the heart of where innovation, money, and power collide in Silicon Valley and beyond.
1:00.1	This is Bloomberg Technology with Caroline. Micron plummets.
1:21.7	After reporting earnings, an AI just couldn't make up for the smartphone and PC chip weakness.
1:27.1	Plus, Elon Musk wielding his political power, as the US now risks a government shutdown, we discuss his impact on the next stopgap bill. And Apple halts its plans for an iPhone hardware subscription service. This and much more on Apple News later this hour. But first, we check in on one key stock. It is down
1:46.2	more than 17%. It is having its worst day since March 2020. Micron really slumping on the
1:53.4	back of its numbers. And we get straight to it, the why, the how, as you see that it eradicates
1:58.6	most of its games year to date. We go to BlueB Meg Intelligence analyst Jake Silverman first, whose report lays out that the Outlook
2:05.6	missed by 12% on weakest smartphone PC in auto-bit demand.
2:10.6	This is it. We were all really excited about high bandwidth memory for AI applications,
2:14.6	but really it comes back to you and me not buying more phones. Yeah, well look, there was definitely an inventory correction to some extent for fiscal 2Q.
2:23.3	And this was starting to happen earlier this year actually. We're starting to see this in June, July, August.
	...

Transcript will be available on the free plan in -56 days. Upgrade to see the full transcript now.

Previous episode | Next episode

Disclaimer: The podcast and artwork embedded on this page are from Bloomberg, and are the property of its owner and not affiliated with or endorsed by Tapesearch.

Generated transcripts are the property of Bloomberg and are distributed freely under the Fair Use doctrine. Transcripts generated by Tapesearch are not guaranteed to be accurate.