Bloomberg's Tom Keene, Jonathan Ferro and Lisa Abramowicz discuss remarks from Fed Chair Jay Powell following the Federal Reserve's decision to cut rates 50-basis-points on a special edition of Bloomberg Surveillance

Bloomberg's Tom Keene, Jonathan Ferro and Lisa Abramowicz discuss remarks from Fed Chair Jay Powell following the Federal Reserve's decision to cut rates 50-basis-points on a special edition of Bloomberg Surveillance

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Instant Reaction: Powell Defends 50 Point Rate Cut

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Apple tumbled in late trading after component shortages weighed on the company’s sales forecast, signaling that industrywide supply constraints are taking a bigger toll than anticipated. Revenue will rise 9% to 11% in the fiscal fourth quarter, which runs through September, the company said on a post-earnings conference call Thursday. Analysts had estimated growth of more than 12%.

For instant reaction and analysis, Bloomberg Businessweek Daily hosts Carol Massar and Tim Stenovec speak with:
Ed Ludlow, Bloomberg Tech co-host
Anurag Rana, Bloomberg Intelligence Senior Technology Analyst
Mark Gurman, Bloomberg News Managing Editor for Global Consumer Tech

Apple tumbled in late trading after component shortages weighed on the company&rsquo;s sales forecast, signaling that industrywide supply constraints are taking a bigger toll than anticipated.&nbsp;Revenue will rise 9% to 11% in the fiscal fourth quarter, which runs through September, the company said on a post-earnings conference call Thursday. Analysts had estimated growth of more than 12%.
For instant reaction and analysis, Bloomberg Businessweek Daily hosts Carol Massar and Tim Stenovec speak with:
<ul>
<li>Ed Ludlow, Bloomberg Tech co-host</li>
<li>Anurag Rana, Bloomberg Intelligence Senior Technology Analyst</li>
<li>Mark Gurman, Bloomberg News Managing Editor for Global Consumer Tech</li>
</ul>

Instant Reaction: Apple Slides After Supply Shortages Hurt Its Sales Forecast

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Amazon.com reported cloud-computing revenue that beat analyst estimates, with booming demand for artificial intelligence services accelerating sales for the fifth straight quarter. Revenue jumped 37% to $42.2 billion at Amazon Web Services, which generates about a fifth of the company’s revenue and most of its operating profit, the company said Thursday in a statement. It was the fastest pace of growth since the fourth quarter of 2021. Analysts, on average, forecast sales of $40.6 billion, according to data compiled by Bloomberg.

For instant reaction and analysis, Bloomberg Businessweek Daily hosts Carol Massar and Tim Stenovec speak with:
Ed Ludlow, Bloomberg Tech co-host
Poonam Goyal, Bloomberg Intelligence Senior Analyst for E-Commerce and Athleisure
Anurag Rana, Bloomberg Intelligence Senior Technology Analyst

Amazon.com reported cloud-computing revenue that beat analyst estimates, with booming demand for artificial intelligence services accelerating sales for the fifth straight quarter. Revenue jumped 37% to $42.2 billion at Amazon Web Services, which generates about a fifth of the company&rsquo;s revenue and most of its operating profit, the company said Thursday in a&nbsp;statement. It was the fastest pace of growth since the fourth quarter of 2021. Analysts, on average, forecast sales of $40.6 billion, according to data compiled by Bloomberg. For instant reaction and analysis, Bloomberg Businessweek Daily hosts Carol Massar and Tim Stenovec speak with:
<ul>
<li>Ed Ludlow, Bloomberg Tech co-host</li>
<li>Poonam Goyal, Bloomberg Intelligence Senior Analyst for E-Commerce and Athleisure</li>
<li>Anurag Rana, Bloomberg Intelligence Senior Technology Analyst</li>
</ul>

Instant Reaction: Amazon Reports Cloud Sales Growth for Fifth Straight Quarter

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Watch Paul and Scarlet LIVE every day on YouTube: http://bit.ly/3vTiACF.

Bloomberg Intelligence hosted by Paul Sweeney and Scarlet Fu 

-Randall Williams, Bloomberg Business of Sports Reporter, discusses UEFA’s 55 member nations resolving to boycott FIFA tournaments if President Gianni Infantino proceeds with plans to sell World Cup stakes to private investors. UEFA said in a statement that “The World Cup cannot be treated as an investment product,” and that no UEFA national teams will participate in any FIFA competition for so long as these proposals remain alive.

- David Kirkpatrick, Founder of Techonomy, recaps tech earnings. Meta Platforms Inc. gave a disappointing quarterly revenue forecast, stepping up pressure on Chief Executive Officer Mark Zuckerberg to allay investor concerns that the company isn’t swiftly benefiting from its massive outlay on artificial intelligence. Separately, Microsoft shares soared after the company reported the fastest cloud growth in four years, with Azure cloud revenue rising 43% during the fiscal fourth quarter.

-Shiv Verma, Robinhood Chief Financial Officer, discusses Robinhood earnings. Robinhood's July trading activity tracking near 2Q's record average supports early 3Q durability of elevated retail engagement across equities, options and prediction markets.

-Redd Brown, Bloomberg Consumer Reporter, discusses earnings from Starbucks and Chipotle. Starbucks and Chipotle Mexican Grill raised their guidance after stronger-than-expected quarters, with sales bolstered by new menu items and revamped loyalty programs.

 

Watch Paul and Scarlet LIVE every day on YouTube: http://bit.ly/3vTiACF.
Bloomberg Intelligence hosted by Paul Sweeney and Scarlet Fu&nbsp; -Randall Williams, Bloomberg Business of Sports Reporter, discusses UEFA&rsquo;s 55 member nations resolving to boycott FIFA tournaments if President Gianni Infantino proceeds with plans to sell World Cup stakes to private investors. UEFA said in a statement that &ldquo;The World Cup cannot be treated as an investment product,&rdquo; and that no UEFA national teams will participate in any FIFA competition for so long as these proposals remain alive. - David Kirkpatrick, Founder of Techonomy, recaps tech earnings. Meta Platforms Inc. gave a disappointing quarterly revenue forecast, stepping up pressure on Chief Executive Officer Mark Zuckerberg to allay investor concerns that the company isn&rsquo;t swiftly benefiting from its massive outlay on artificial intelligence. Separately, Microsoft shares soared after the company reported the fastest cloud growth in four years, with Azure cloud revenue rising 43% during the fiscal fourth quarter. -Shiv Verma, Robinhood Chief Financial Officer, discusses Robinhood earnings. Robinhood's July trading activity tracking near 2Q's record average supports early 3Q durability of elevated retail engagement across equities, options and prediction markets. -Redd Brown, Bloomberg Consumer Reporter, discusses earnings from Starbucks and Chipotle. Starbucks and Chipotle Mexican Grill raised their guidance after stronger-than-expected quarters, with sales bolstered by new menu items and revamped loyalty programs.
&nbsp;

UEFA Votes to Boycott World Cup in Protest to FIFA Selloff 

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Instant Reaction: Powell Defends 50 Point Rate Cut

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