Squawk on the Street After the Sell-Off, Apple's $500B U.S. Expansion Plan, Musk and the DOGE Backlash 2/24/25
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Feb 24, 2025 Market turmoil is prompting investors to reassess strategies, especially amidst the latest sell-offs. Apple's ambitious $500 billion investment in U.S. manufacturing, creating 20,000 jobs, stirs skepticism about its broader impact. Meanwhile, Elon Musk faces backlash over DOGE as billionaires like Steve Cohen voice concerns. The conversation shifts to major players like Berkshire Hathaway and emerging trends in the pet industry. Recent economic indicators also reveal insights into housing, layoffs, and the future of tech investments.
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Market Confusion
- Money is being made in European and Asian markets, while the US market is struggling.
- Investors are confused and unhappy, particularly small businesses in the Russell 3000.
Microsoft's AI Spending Strategy
- Microsoft refuted a TD Cowen note suggesting they are cutting AI data center spending.
- Microsoft's spending is based on a 10-year view of cloud and AI demand, adjusting regionally based on priorities like power availability.
Apple's US Expansion
- Apple plans a $500B US expansion, creating 20,000 jobs, focusing on R&D and AI.
- This transactional move under the current administration aims to boost domestic job growth and potentially secure tariff exclusions.