Emily Graffeo, Bloomberg cross-asset reporter who covers major stock moves, breaks down big tech swings. Apple surged on iPhone 17 demand and services growth. Microsoft sank amid record AI spending and cloud slowdown. Meta jumped after a surprisingly strong revenue outlook despite higher AI costs.
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insights INSIGHT
Apple's Holiday Quarter Strength
Apple beat fiscal-quarter revenue estimates with $143.76 billion driven by strong iPhone and services sales.
Greater China and higher-end iPhone demand were key contributors to the upside.
question_answer ANECDOTE
AirTag Helps Locate Lost Wallets
Carol described finding Tim's wallet with an AirTag that helped locate it across floors.
The hosts joked about the AirTag and Tim denied taking any money from the wallet.
insights INSIGHT
Meta's Revenue Eases AI Concerns
Meta posted stronger-than-expected revenue that offset higher AI spending and lifted the stock about 10%.
The company plans heavy AI investment but currently has revenue and cash to support it.
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Today's biggest winners and losers in the stock market.
On this episode of Stock Movers:
- Apple (AAPL)'s revenue in the holiday quarter trounced Wall Street estimates, driven by strong demand for the new iPhone 17, growth in services and a rebound in China. jumped 16% to $143.8 billion in the period that ended Dec. 27, driven by strong demand for the new iPhone 17, growth in services and a rebound in China. The company's revenue from the iPhone totaled $85.3 billion during the period, with higher-end versions of the device being especially popular, and services generated $30 billion in the quarter.
- Microsoft (MSFT) shares got caught up in a selloff Thursday that wiped out $357 billion in value, second-largest for a single session in stock market history. The software giant’s stock closed down 10%, its biggest plunge since March 2020, following Microsoft’s earnings after the bell Wednesday, which showed record spending on artificial intelligence as growth at its key cloud unit slowed.
- Meta Platforms (META) shares climbed as much as 11% on Thursday, their biggest intraday jump since July 31, after the Facebook parent gave a revenue outlook that was much stronger than expected, which helped offset the impact of higher AI-related spending.
Stock Movers