Jack Pitcher
speaker
112 appearances
3 recordings
1 series
first heard Aug 2024
last heard Nov 2024
Jack Pitcher’s voice in public audio — every appearance, attributed to the second.
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Appearances
The server maker has been facing some legal issues.
The Wall Street Journal reported in September that the Justice Department is probing the company.
Prosecutors have asked for information that appeared to be connected to a former employee who accused the company of accounting violations.
Spokespeople for Supermicro and the U.S.
Attorney's Office declined to comment at the time.
Super micro shares plunged 33% on Wednesday and fell 45% for the week.
AI was also in the spotlight as tech earnings rolled in this week, and forecasts from some of the biggest companies gave investors pause.
Microsoft and Meta Platforms, the parent company of Facebook, both reported better than expected results after trading hours on Wednesday.
Shares of both companies sold off the next day anyway.
Microsoft forecasts slower future growth for its cloud business and higher expenses, while Meta said it expects significant growth in its capital expenditures as it spins big on AI.
The earnings reports also caused a sell-off in AI darling NVIDIA.
Bullishness over AI has powered stocks higher this year, but some analysts are sounding the alarm over the high cost of developing AI systems.
By the end of the week, Microsoft and NVIDIA had both shed more than 4%, while Meta was around 1% lower.
But it's not all bad news in mega cap tech world.
Amazon said sales were strong for both its cloud computing and online shopping businesses when it reported earnings after the closing bell on Thursday.
Profits grew too, but so did capital expenditures to a record amount as Amazon, like its peers, spends big on AI systems.
Amazon shares soared 6.2% Friday and ended the week 5.4% higher.
And now you know what's news in markets this week.
Today's show was produced by Trina Menino with supervising producer Tali Arbel.
I'm Jack Pitcher.
Showing 21–40 of 112 · page 2 of 6
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