The Rundown Biden Issues New AI Trade Restrictions, iPhone Sales Slump in Q4
14 snips
Jan 13, 2025 The podcast dives into the recent market decline linked to a robust jobs report and new AI export restrictions from the Biden administration. It critiques Apple’s innovation slowdown while defending its recent successes. Additionally, it highlights Johnson & Johnson's major acquisition and Moderna's stock struggles due to revised vaccine sales expectations. Finally, the conversation touches on Abercrombie's surprising share drop despite strong sales and Tim Cook's hefty compensation, keeping listeners informed on the ever-changing financial landscape.
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Market Sell-off Due to Strong Jobs Report
- Friday's strong jobs report, showing a strong labor market and decreasing unemployment, caused a stock market sell-off.
- Investors worry this means the Federal Reserve won't cut rates, leading them to sell stocks despite the solid economy.
Alternative to TikTok for Finance News
- If you rely on TikTok for financial news, subscribe to this podcast as an alternative.
- The Supreme Court may uphold the TikTok ban, potentially causing the app to go dark on January 19th.
Biden's AI Chip Export Restrictions
- The Biden administration's new rules restrict AI chip exports to China and Russia to maintain US dominance in the AI industry.
- Chip makers like NVIDIA criticize the rules, fearing they'll hinder global innovation and economic growth.