Squawk on the Street SOTS 2nd Hour: New India Tariffs, Earnings Wrap-up – AMD, McDonald’s, & Disney – Plus Upstart, Lucid CEOs 8/6/25
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Aug 6, 2025 Jim O'Neill, former U.K. Treasury Minister and ex-Goldman Sachs Asset Management Chairman, shares his insights on the new tariffs impacting U.S.-India relations and their market effects. The discussion dives into AMD's struggles with China, McDonald's surprisingly strong earnings, and Disney's new NFL partnership. O'Neill explores the challenges faced by multinational corporations in the ever-changing economic landscape. Additionally, the CEOs of Upstart and Lucid weigh in on the future of AI lending and the electric vehicle market amid financial uncertainties.
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AMD's Supply Chain Realities
- AMD emphasizes the necessity of U.S. manufacturing for supply chain resilience but acknowledges reliance on a global supply chain for semiconductors.
- The timing and scope of China shipments remain uncertain, limiting the ability to price in related impacts on earnings.
Supermicro's Growth Trap
- Supermicro faces a growth trap: scaling AI server production sacrifices profitability due to price competition with giants like Dell.
- Their technical edge in AI server configurations and cooling is promising but must translate into sustainable profits.
McDonald's Value Focus
- McDonald's delivered earnings beats driven by strong global comp sales, yet management aims to enhance value offerings for half its U.S. business.
- National price-point value programs and digital tools are key to recapturing the lower-income consumer segment.