Squawk on the Street SOTS 2nd Hour: Apollo’s “No Free Lunch” Warning, Tech Investor Dan Niles, & A Read On Luxury 7/25/25
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Jul 25, 2025 Investment manager Dan Niles, founder of Niles Investment Management, shares his insights on the tech market trends and warns of possible clouds ahead for major stocks like Apple. He discusses the implications of rising tariffs and the looming threat of stagflation, echoing concerns from Apollo Global's economist. The conversation dives into the dramatic decline of companies like Charter and the challenges facing the luxury retail sector amid shifting consumer behavior. Niles also highlights the resilience and strategies of affluent consumers in today's economy.
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Earnings Meet High Market Expectations
- Stocks like Google and Netflix show limited upside after strong earnings due to high market expectations.
- Even great quarterly reports can result in muted stock gains or declines amid high valuations and positioning.
Favorite Big Tech Stocks Explained
- Microsoft is favored due to Azure's recent growth after prior disappointments.
- NVIDIA's fundamentals improve with China reopening and sustained demand for inference computing.
Market Rotation and Positioning Effects
- Market rotation shows challenges as winners struggle post-earnings while laggards like healthcare and energy gain.
- Positioning and pending regulatory rulings influence stock reactions beyond just profit numbers.