On this episode of Stock Movers:
- Apple (AAPL) share slid on word that Meta poached its most prominent design executive in a major coup that underscores a push by the social networking giant into the AI-equipped consumer devices. The company is hiring Alan Dye, who has served as the head of Apple’s user interface design team since 2015, according to people with knowledge of the matter. Apple is replacing Dye with longtime designer Stephen Lemay, according to the people, who asked not to be identified because the personnel changes haven’t been announced.
- Microsoft (MSFT) shares slid after the Information reported that the software maker has lowered expectations for getting business customers to spend money on the cloud unit’s marketplace for artificial intelligence models and agents. Several divisions at Microsoft have lowered quotas for how much salespeople are supposed to increase sales of certain AI products after many of them missed their targets in the fiscal year that ended in June, the Information reported, citing two salespeople in the Azure cloud division. The unusual shift reflects how Microsoft is compensating for companies’ resistance to pay more for AI, according to the report.
- Boeing (BA) shares fell after the FTC announced conditions for the planemaker’s acquisition of Spirit AeroSystems to go forward.
See omnystudio.com/listener for privacy information.
