The Rundown Apple Warns of $900M Tariff Hit, Take-Two Delays GTA 6
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May 2, 2025 The latest financial updates reveal a surge in the S&P 500 thanks to positive job reports and U.S.-China trade negotiations. Apple faces significant challenges with a potential $900 million tariff hit, alongside struggles in AI development. In the stock market, Amazon's earnings were mixed, while Reddit shows growth amidst declines for Block and Airbnb. Additionally, the much-anticipated GTA 6 game has been delayed, leaving fans in suspense. The episode wraps up with insights on NVIDIA's CEO salary rise and highlights from a recent Federal Reserve meeting.
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Apple Faces Tariffs and AI Challenges
- Apple had a solid Q1 with revenue and profits beating estimates across most segments.
- Despite this, tariffs and AI challenges threaten Apple's future growth and market share, especially in China.
Amazon's Earnings Strong but Tariffs Risk
- Amazon beat earnings estimates with strong revenue and profit growth, especially in advertising.
- Tariffs remain a material risk, with potential price hikes on Chinese imports that could affect e-commerce demand.
Reddit Surges Post-IPO
- Reddit showed solid growth in users and advertising revenue, increasing its stock price over 150% since IPO.
- This marks a strong turnaround from earlier skepticism about the company's public performance.