Bloomberg Daybreak: Asia Edition Daybreak Weekend: Retail Preview, UK Budget, China PMI
30 snips
Nov 21, 2025 Mary Ross Gilbert, a senior equity analyst at Bloomberg Intelligence, shares insights on retail trends, focusing on Kohl's return to private labels and Abercrombie's appeal among younger consumers. John Liu, Bloomberg's Executive Editor for Greater China, discusses the challenges of China's PMI data and investment slump, alongside rising Sino-Japan tensions. Jo Mays, a UK politics reporter, analyzes the political pressures faced by Chancellor Rachel Reeves as the UK budget approaches, revealing internal Labour dynamics influencing fiscal strategies.
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Episode notes
AI Momentum Helps Dell But Margins Bite
- NVIDIA's strong AI results lift Dell's AI server opportunity but spotlight profitability risks.
- AI server margins remain constrained and are already baked into expectations, limiting near-term upside.
Cut Costs To Protect Margins
- Streamline operations and cut costs to preserve margins amid a growing AI mix.
- Dell has scope to maintain high single-digit operating margins through disciplined cost actions.
Government Shutdown Could Temporarily Dent Demand
- The recent US government shutdown may briefly damp federal IT spending and dent Dell's near-term growth.
- Any drag should be temporary as government spending ramps back up into fiscal 2027 guidance cycles.