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Bloomberg Businessweek
Fed's Barkin Preaches Patience About the Timing of Rate Cuts
Feb 8, 2024
Richmond Fed President Tom Barkin discusses the US economy and Fed policy. BetMGM CEO Adam Greenblatt talks about Super Bowl gambling. Mattel CEO Ynon Kreiz discusses earnings and the cultural influence of Barbie. The rise of Arm shares and the impact of AI spending are also explored.
50:36
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Quick takeaways
- ARM Holdings' stock price surged by over 64% after reporting bullish earnings forecasts as the company expands beyond smartphones into data centers, automotive, and smart home devices.
- The financial sector's dislocations provide investment opportunities with large-cap banks, like Bank of America and JPMorgan, being favored due to their diversification, strong deposit franchises, excess capital, and fortress-like balance sheets.
Deep dives
ARM Holdings experiences surge in stock price following bullish earnings forecasts
ARM Holdings, a chip designer, saw a surge in its stock price of over 64% after reporting bullish earnings forecasts. The company's push beyond smartphones is driving growth and fueling investor optimism. ARM is expanding its scope beyond traditional markets and venturing into data centers, automotive, and smart home devices. The company's success in diversifying its offerings and monetizing AI-related technologies has attracted significant attention and investment. As ARM continues to penetrate different sectors and capitalize on the growing demand for AI applications, it is positioned for further growth and success.
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