Squawk on the Street Market Sell-Off: Trump's New Tariffs, Jobs Miss, Apple and Amazon, Chevron CEO Exclusive 8/1/25
10 snips
Aug 1, 2025 Mike Wirth, Chairman and CEO of Chevron, shares insights on the energy sector's future amid changing economic conditions. He discusses Chevron's impressive second-quarter earnings and growth strategy focusing on natural gas's crucial role in powering data centers for AI. The conversation also touches on the impact of President Trump's tariffs on trade and what this means for big players like Apple and Amazon, highlighting the importance of energy security in today's market.
AI Snips
Chapters
Transcript
Episode notes
Apple's Unanticipated Growth Surge
- Apple defied expectations with its biggest quarterly revenue growth since 2021.
- Strong iPhone sales and unexpected growth in China fueled this impressive performance.
Amazon’s Mixed Outlook Concerns
- Amazon beat Q2 earnings but faces investor unease due to cautious guidance.
- Issues like power shortages and subdued outlook contributed to a decline in share price.
Beware Figma's Market Froth
- Avoid chasing stocks with extreme valuations like Figma's 60+ times sales.
- Ring the register on manic meme-driven gains to prevent market instability.