Apple Disappoints, UEFA, CONCACAF Reject FIFA Investment Plan, More
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News when you want it. With Bloomberg News Now, I'm Amy Morris. A rebound in giant chip makers lifted stocks as dip buyers emerged on speculation that the AI trade has more room to run. We have a lot of tech earnings to talk about. Let's start with Apple. Apple sales grew slower than analysts anticipated last quarter in China. and in its services business, sparking concerns about two key markets. Though total revenue did top analyst estimates, the China sales were still short. Bloomberg Managing Editor Mark Gurman covers Apple and consumer tech.
They essentially missed on everything except two segments. The good news is that they beat on iPhone. This is about a $11 billion year-over-year increase. They missed on services.
But everything is built around the iPhone. Bloomberg's Mark Gurman on Bloomberg The Close. Apple shares down more than 4% in the post market. Amazon reported cloud computing revenue beating analyst estimates with booming demand for AI services, accelerating sales for the fifth straight quarter. Amazon shares jumped more than 7% in after hours trading. Microsoft shares soared after that company reported the fastest cloud growth in four years, Azure cloud revenue rising 43% during the fiscal fourth quarter. Microsoft's total revenue increased 18% to $90 billion. That beat estimates, and the company's shares rose 16% for its biggest one-day gain since October of 2008. So now let's look at the closing numbers.
We bring them to you each day here at Bloomberg. The S&P gained 121 points, more than 1.6%. NASDAQ jumped 679 points, more than 2.75%. The Dow up 614 points. That's about 1.2%. The 10-year Treasury yield at 4.67%. The 2-year yield at 4.24%. The Philadelphia Semiconductor Index gained more than 8% in regular trading, led by Micron.
Why are Apple’s latest earnings seen as a disappointment and which segments missed expectations?
Micron today jumped more than 18%. Oil is lower, WTI at $84 a barrel and Brent crude near $90 a barrel. The Wall Street Journal reports a data center developer working with Anthropic is in advanced talks to borrow $15 billion to build a massive new campus and power plant in Texas, with Google providing financial guarantees and chips. Assets at the hedge fund Situational Awareness have slumped to about $10 billion after Ken Griffin's Citadel stepped in to buy the bulk of its public stock bets. Situational Awareness had more than $20 billion in assets as of late May, and it still has private stakes, including in Anthropic. Meanwhile, China's DeepSeek is planning a massive AI data center in Inner Mongolia.
That move should add about one gigawatt of compute. Sources tell Bloomberg the company aims to be at least partially online by the end of next year or early 2028. We turn now to the world of sports. UEFA members have agreed to boycott the World Cup if FIFA moves forward with a planned sale. And CONCACAF and its 41 member associations have also rejected FIFA's investment plan proposal.
How did Apple’s performance in China and services affect investor reaction?
Bloomberg Business of Sports reporter Randall Williams says this has been...
So you think about the members of UEFA. It is the world champion, Spain. It is one of the final four, two of the final, three of the final four. Now that I think about it, it is England. It is France. It is Croatia. It is Portugal where Cristiano Ronaldo plays. And so a lot of these superpowers in the global business of football and the global sport of football are saying you do this and we're out.
Hear more from Randall Williams on the Bloomberg Intelligence podcast. FIFA's plans were to raise as much as $4.2 billion from a new holding company made up of external investors, including Thrive. Thrive is owned by Joshua Kushner, a venture capitalist with family ties to President Trump.
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