CNBC's "Fast Money" Big Tech Reports… And Eli Lilly’s Letdown 10/30/24
Oct 30, 2024
Gene Munster, Managing Partner at Deepwater Asset Management, dissects Meta and Microsoft’s strong earnings, highlighting AI’s role in Azure’s growth. Loretta Mester, former President of the Cleveland Fed, discusses the Federal Reserve’s strategies amid rising Treasury yields. Meanwhile, Jared Holes of Mizuho analyzes Eli Lilly's disappointing Q3 results, questioning whether the euphoria over weight loss drugs is waning. Together, they explore the shifting landscape of tech performance and its broader economic implications.
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Meta Q3 Earnings: Good, but Not Good Enough?
- Meta's Q3 earnings beat expectations, but revenue growth decelerated, and user figures missed estimates.
- The stock dipped slightly after hours as investors react to increased CapEx guidance, especially on AI.
Microsoft's AI-Driven Growth: Worth the Price?
- Microsoft beat earnings expectations, with strong Azure cloud growth driven by AI.
- The stock is up, but its high valuation raises questions about future growth potential.
Microsoft's AI Impact: Needs More Clarity
- Gene Munster emphasizes the importance of Microsoft's Azure growth and AI contribution.
- He seeks more concrete data on co-pilot adoption and monetization to justify the company's valuation.