Show Notes
The third hour of CNBC’s "Squawk on the Street" with Carl Quintanilla and Sara Eisen is broadcast each weekday from the floor of the New York Stock Exchange, with the up-to-the-minute news investors need to know and interviews with the most influential CEOs and greatest market minds.
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Apple hits a record high as its new foldable iPhone Duo officially goes on sale. Longtime Apple blogger John Gruber joins Squawk on the Street to discuss whether the device can move the needle for shareholders. Plus, telecom stocks tumble as Bloomberg reports SpaceX is looking to secure at least 80,000 cell sites across the U.S., sending tower stocks higher. And CNBC has new details on OpenAI’s latest fundraising efforts and potential new valuation.
Carl Quintanilla, David Faber and Michael Santoli led off the show with Apple's foldable iPhone Duo making its in-store debut. Apple CEO John Ternus greeted customers at the company's store in Austin, Texas. Also in the mix: A live report from outside Apple's flagship store in New York City; The anchors discussed reviews of the iPhone Duo after Apple briefly surpassed Nvidia in market cap. Merck CEO Rob Davis joined the program at Post 9 one day after data involving the company's cancer vaccine with Moderna had been leaked. Also in focus: The tech sector extends its sell-off after the Nasdaq's worst day since June; SpaceX shares rise on a report about access to 80,000 cell sites — a look at the winners and losers; Western Digital falls despite better-than-expected results, American Express earnings and job cuts, AI trade roundup.
Pershing Square Founder & CEO Bill Ackman joins from Tel Aviv to discuss the bull case for investing in Israel and the broader investment landscape. Then, Roundhill CEO Dave Mazza joins to discuss the latest round of tech earnings and where he sees opportunity. Plus, we bring you the details of a new security flaw that was uncovered in the software that runs most of the internet.
Stocks come under pressure as renewed Middle East tensions push oil higher and concerns over AI spending weigh on tech. On today’s Squawk on the Street, we break down earnings from Meta and Tesla, including Meta’s new share structure, speculation around a potential Tesla-SpaceX merger, and the latest on AI capital spending. Plus, IBM CEO Arvind Krishna explains why he believes the company’s business remains resilient despite growing concerns about demand destruction.
Carl Quintanilla, David Faber and Michael Santoli delved into AI trade weakness, including why Meta and Tesla shares fell despite both companies posting Q3 beats. The anchors reacted to what Meta CEO Mark Zuckerberg and Tesla CEO Elon Musk said on their respective earnings calls. On a rough day for the chip sector, CNBC's Arjun Kharpal interviewed Nvidia CEO Jensen Huang at the company's GTC conference in Berlin. Also in focus: Meta's new class of stock to fund AI spending; Buzz surrounding a potential SpaceX-Tesla merger; IBM earnings reaction; The "Tide" is high for P&G; Lockheed Martin rallies; Airline earnings impacted by fuel costs; Oil prices surge on Middle East tensions; Barclays and the job cuts parade; Carriers cut the price of Apple's foldable iPhone Duo ahead of its Friday in-store debut.