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Squawk on the Street
Dow Hits Record High Despite Apple Pullback, Bracing for the Fed, Oracle's Ellison "Begged" Nvidia 9/16/24
Sep 16, 2024
Larry Ellison, the Chairman of Oracle and a notable figure in tech innovation, shares his insights on market dynamics and AI trends. He discusses the implications of the Federal Reserve's upcoming rate cut decisions and the pressure Apple faces with its iPhone 16 pre-orders. Ellison also reveals his surprising plea to Nvidia's CEO for essential AI chips, emphasizing the fierce competition in the tech sector. The conversation touches on Oracle's strong stock performance and strategic moves in the cloud market as AI demand surges.
42:07
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Quick takeaways
- The Dow reaching an all-time high amidst concerns over weak iPhone 16 demand highlights the market's sensitivity to consumer trends and interest rates.
- Larry Ellison's desperate plea for AI chips from Nvidia underscores the competitive race in tech, revealing Oracle's struggle to adapt and thrive in an AI-centric landscape.
Deep dives
Market Dynamics and Upcoming Financial Events
Current financial markets are experiencing mixed pre-market activity following the S&P 500's most successful week of the year. Investors are closely monitoring upcoming retail sales data and a critical Federal Reserve meeting where a potential interest rate hike is expected, with discussions centering around the implications of a 50 basis point increase. Recent reports of weak pre-order demand for the iPhone 16 have added to market volatility. This environment highlights how sensitive the market is to news, particularly around interest rates and consumer demand.
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Discover
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