Closing Bell Closing Bell Overtime: Apple Earnings & Tale of Two Megacaps; Plus, Commodities Roller Coaster Rolls On 1/29/26
Jan 29, 2026
Patrick Moorhead, founder and CEO of Moor Insights & Strategy, a tech analyst focused on AI infrastructure. He unpacks the “circular AI unwind” and its effects on hardware versus software. He weighs memory and hyperscaler dynamics, reacts to Apple’s strong China and iPhone results, and flags how AI partnerships could reshape valuations and capital flows.
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Episode notes
Market Separates Microsoft Weakness From Broader Rally
- The market isolated Microsoft-related weaknesse while broader indices recovered due to rotation into other sectors.
- Investors are distinguishing between hardware winners and vulnerable software narratives amid AI spending uncertainty.
AI Hardware Strength Vs. Software Sell-Off
- Patrick Moorhead flagged discontinuities: armaments for AI (chips, memory) stayed strong while some software names plunged.
- That suggests investor fears about software risk may be overblown or unevenly applied.
Prioritize SaaS Firms Embracing AI
- Do focus on SaaS vendors that have embraced AI and show high customer renewal rates.
- Avoid blanket assumptions; durable workflow platforms with strong re-up rates likely remain valuable.