Squawk on the Street Volatility and the AI Trade, Apple Jumps on Berkshire Stake, Apple and Succession 11/17/25
Nov 17, 2025
Mike Santoli, Senior markets commentator for CNBC, dives into the ongoing market volatility and the AI trade ahead of Nvidia's earnings. He emphasizes that the bull market is still alive, while pointing out key risks affecting it. The discussion shifts to Alphabet's stock surge following Berkshire Hathaway's hefty investment and the intensifying succession plans at Apple for CEO Tim Cook. The episode also touches on insights about retail earnings patterns and the impact of AI on labor, highlighting significant shifts in consumer behavior.
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AI Could Rapidly Reshape Entry-Level Jobs
- Anthropic's Dario Amodei warned AI could eliminate half of entry-level white-collar jobs within one to five years, raising large labor-market risks.
- The company also sees strong enterprise adoption, especially for coding and productivity use cases.
Financials Seen As AI Productivity Beneficiaries
- Goldman found financials were the most bought sector and second in AI productivity references behind communication services.
- That suggests banks are being positioned as beneficiaries of AI-driven productivity gains.
Berkshire's Big Bet On Alphabet
- Berkshire Hathaway disclosed a new stake of about 17.9 million Alphabet shares worth roughly $4.3 billion at quarter-end.
- The position made Alphabet a top-ten holding and was Berkshire's biggest new tech buy since Apple initially.