CNBC's "Fast Money" Apple’s Record High… And Structure Therapeutics’ CEO On Weight Loss Drugs 6/11/24
Jun 11, 2024
The CEO of Structure Therapeutics discusses the weight loss market and their promising GLP-1 pill. Apple's stock hits record highs post-AI announcement. The podcast also covers market momentum, tech stocks, labor market impact, and the competitiveness of Structure Therapeutics' weight loss drug.
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Apple's Stock Rebounds
- Apple's stock soared 7%, its best day since November 2022, adding $215 billion to its market cap.
- This follows a drop after its AI announcements, causing speculation about market reactions and Apple's strategy.
Apple's Growth Potential
- Gene Munster believes Apple's gains are just beginning, driven by potential service revenue growth and an upgrade cycle.
- Guy Adami expresses skepticism about the impact of the AI reveal on phone sales but acknowledges the potential for service revenue growth.
Debate on Apple's "Biggest Day"
- Gene Munster stated that Apple's reveal day was its biggest since the iPhone launch, a claim Guy Adami strongly contests.
- Dan Nathan argues that the stock's rise without increased earnings estimates makes it more expensive and questions investor euphoria.