More Rate Hikes? Apple of My AI, Billionaire Battle 8/7/23

Carl Quintanilla, Jim Cramer and David Faber started the hour by breaking down the broader markets, with the S&P and Nasdaq both coming off their worst weeks since March. Investors also worked with new Fed commentary, as Governor Michelle Bowman said more rate hikes will likely be needed. The anchors also turned to Apple, coming off its worst week of 2023, with new reports saying the company is boosting its AI efforts for iPhones and iPads. Also in the mix: an update to the cage match between Mark Zuckerberg and Elon Musk, as the two CEOs traded jabs on their respective social platforms over the weekend.

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