Apple sales grew more slowly than analysts anticipated in China and its services business last quarter. Though total revenue topped estimates, the China sales amounted to $18.8 billion in the fiscal third quarter, well short of the $19.6 billion estimated by analysts. Revenue from services was $30.7 billion, compared with a $31.4 billion projection. Mark Gurman breaks down the numbers on "Bloomberg The Close."
Tony Wang, T. Rowe Price science and technology equity strategy portfolio manager, reacts to Apple's third-quarter earnings and outlook. He speaks on "Bloomberg The Close."
Rivian CFO Claire McDonough joins Bloomberg's Ed Ludlow as the EV maker begins delivering its highly anticipated R2 SUV. She discusses early customer demand, the production ramp, and why the more affordable vehicle is expected to drive Rivian toward automotive gross-profit positivity by the end of 2026. McDonough also outlines the company's capital position, software strategy, and how recurring software revenue is becoming a larger part of the business.
Aon CEO Edmund Reese said that despite rising geopolitical risk, customers want to understand how to protect their assets as they continue to grow and invest. Reese said that his company has been investing in tools and data to help the client base better understand their exposure as risk factors intermingle for the business community.
Laura Martin, senior entertainment & internet analyst for Needham & Company, said that she is worried about Meta's strategy because Mark Zuckerberg keeps moving the goalposts on who he is taking on as competition. Martin said that although Zuckerberg's ideas might be good, the strategy is too diffuse to corner the market on chips or or AI.
Swarthmore College, an elite liberal arts school in Pennsylvania, lost its AAA grade from S&P Global Ratings after running up its debts to finance renovations to dormitories, classrooms and other projects across its campus. Bloomberg's Amanda Albright reports on "Bloomberg Real Yield."
President Donald Trump announced a plan to overhaul and expand Washington Dulles International Airport near the nation's capital, his latest makeover project for the region, calling it a "long-overdue renovation and reconstruction." Bloomberg's Aashna Shah reports on "Bloomberg Real Yield."
Bryan Whalen, CIO and generalist portfolio manager of fixed income at TCW, and Winnie Cisar, global head of credit strategy at CreditSights, join Scarlet Fu on "Bloomberg Real Yield." For months, Big Tech has flooded debt markets with mega bonds that were initially snatched up by investors keen to get exposure to the AI boom. As demand wanes and bubble concerns mount, those deals are becoming harder and costlier to get over the line.
Bryan Whalen, CIO and generalist portfolio manager of fixed income at TCW, and Winnie Cisar, global head of credit strategy at CreditSights, join Scarlet Fu on "Bloomberg Real Yield." " As Big Tech barrels toward trillions of dollars of planned spending on AI, the price of protecting tech firms' debt against default is jumping, in part on mounting concern about whether all the investments will pay off.
Robinhood Chairman and CEO Vlad Tenev says the prediction markets business is the fastest growing in the firm's history. Speaking on "Bloomberg The Close," Tenev also discusses the company's initiatives, Trump Accounts and the future of crypto.
Bloomberg's Morwenna Coniam joins Scarlet Fu on "Bloomberg Real Yield." The Bank of England kept interest rates steady at 3.75% on Thursday, with Governor Andrew Bailey insisting his committee is not getting closer to a hike despite three members voting for tighter policy.
Ed Al-Hussainy, portfolio manager of the total return bond fund at Columbia Threadneedle Investments, and Nicolo Bocchin, global co-head of fixed income at Azimut Group, join Scarlet Fu on "Bloomberg Real Yield." Long-term Treasury yields retained most of the surge unleashed by this week's Federal Reserve rate decision after a raft of US economic data showed still-elevated inflation and labor-market resilience.
