Bloomberg Intelligence

Amazon said it plans to spend billions more than expected on data centers, chips and other equipment, fueling investor concerns that the company’s massive bet on artificial intelligence will take longer to pay off than anticipated.The company reported $39.5 billion on property and equipment expenses in the fourth quarter, topping estimates by almost $5 billion, and said its capital expenditures would reach $200 billion this year. Bloomberg Businessweek Daily hosts Carol Massar and Tim Stenovec speak with: Bloomberg Intelligence Senior Analyst for E-Commerce and Athleisure Poonam Goyal and James Cakmak, Co-Founder and Chief Investment Officer at Clockwise Capita

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Bloomberg Intelligence hosted by Paul Sweeney and Scarlet Fu

-Mandeep Singh, Global Tech Research Head at Bloomberg Intelligence, recaps Alphabet earnings. Alphabet Inc. is poised to spend more in 2026 than it has invested in the past three years combined to finance an expansion of data centers critical to its artificial intelligence ambitions.

- Kunjan Sobhani, Bloomberg Intelligence Senior Semiconductor Analyst, recaps Qualcomm earnings. Qualcomm’s revenue forecast was weaker than expected. The company said its “near-term handsets outlook is impacted by industry-wide memory supply constraints.”

-Geetha Ranganathan, Bloomberg Intelligence Analyst, recaps Peloton earnings. Peloton Interactive Inc. provided a weaker-than-expected revenue forecast for the fiscal third quarter, disappointing investors.

-Deborah Aitken, Bloomberg Intelligence Luxury Goods Analyst, recaps Estee Lauder earnings. Estée Lauder Cos. shares dropped after its outlook boost failed to reassure some investors about the pace of the cosmetics conglomerate’s turnaround.

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Bloomberg Intelligence hosted by Paul Sweeney, Scarlet Fu, and John Tucker

- Kunjan Sobhani, Bloomberg Intelligence Senior Semiconductor Analyst, recaps AMD earnings and talks Texas Instruments. Advanced Micro Devices Inc. suffered its worst stock decline in more than seven years after the chipmaker’s sales forecast underwhelmed investors. Separately, Texas Instruments Inc. has reached an agreement to buy Silicon Laboratories Inc. for about $7.5 billion, deepening its exposure to several markets for chips.

- Sam Fazeli, Bloomberg Intelligence, Director of Research for Global Industries and Senior Pharmaceuticals Analyst, discusses Eli Lilly earnings. Eli Lilly & Co. provided an upbeat sales forecast for the year Wednesday as strong demand for its weight loss drug cemented its position at the top of the obesity market.

- Woo Jin Ho, Bloomberg Intelligence Senior Hardware and Networking Analyst, recaps Super Micro earnings and discusses HP’s CEO departure. Super Micro Computer Inc. shares gained after the company gave a forecast for sales in the current quarter that signaled strong demand for its gear to run AI data centers. Separately, HP named Bruce Broussard as interim chief executive officer, effective immediately, replacing Enrique Lores who stepped down to join PayPal. 

- Jody Lurie, Bloomberg Intelligence Credit Analyst, discusses Yum Brands earnings and BI’s latest cruise outlook. Yum reported adjusted earnings per share for the fourth quarter that missed the average analyst estimate. Separately, Walt Disney’s new CEO Josh D'Amaro is bracing for cruise ‘Headwinds.’

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Bloomberg Intelligence hosted by Paul Sweeney and Scarlet Fu

- Geetha Ranganathan, Bloomberg Intelligence Analyst, discusses Walt Disney saying Josh D’Amaro will succeed Bob Iger as chief executive officer of the entertainment giant. D’Amaro, a 28-year-veteran of Disney, will succeed Iger effective March 18, the Burbank, California-based company said Tuesday in a statement. Iger will stay on the board and serve as a senior adviser until his retirement on Dec. 31.

- Diksha Gera, Bloomberg Intelligence Global Fintech and Payments Analyst, discusses Paypal earnings. PayPal Holdings said HP Chief Executive Officer Enrique Lores will take the top job from Alex Chriss, whose turnaround plan failed to meet targets.

- Ken Shea, Bloomberg Intelligence Senior Consumer Products Analyst, discusses PepsiCo earnings. PepsiCo Inc. is cutting prices by as much as 15% for key brands, including Lay’s and Doritos, to lift sales by offering more affordable products.

- Sam Fazeli, Bloomberg Intelligence, Director of Research for Global Industries and Senior Pharmaceuticals Analyst, discusses Pfizer earnings. Pfizer revealed data from one of its new obesity treatments early Tuesday with little detail, leaving investors wondering if the up to $10 billion it spent purchasing the company that created the medicine will pay off.

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Bloomberg Intelligence hosted by Paul Sweeney and Scarlet Fu

- Mandeep Singh, Global Tech Research Head at Bloomberg Intelligence, discusses Oracle planning to raise $45 to $50 billion this year through a combination of debt and equity sales to build additional cloud infrastructure capacity. He also discusses Elon Musk being in advanced talks to combine Space Exploration Technologies with xAI, according to people familiar with the matter.

-Geetha Ranganathan, Bloomberg Intelligence Analyst discusses Walt Disney earnings. Walt Disney shares slid after the world’s biggest entertainment company gave a tepid forecast for growth in the current period.

-Sam Fazeli, Bloomberg Intelligence, Director of Research for Global Industries and Senior Pharmaceuticals Analyst, discusses the latest in the biotech sector. Sanofi recently forecasted another year of revenue and earnings growth after sales of Dupixent drove higher-than-expected profit in its latest quarter. Roche recently reported disappointing revenue for a blockbuster eye medicine and lackluster growth predictions for the year.

-Woo Jin Ho, Bloomberg Intelligence Senior Hardware and Networking Analyst, discusses BI’s 2026 outlook for global communications and networking equipment. The global networking sector heads into 2026 with multiple spending tailwinds, led by cloud AI-infrastructure build-outs. Outlays in networking gear are expected to grow 20% to $82 billion, according to 650 Group, with AI network-switching sales poised to climb 91% to $21 billion.

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Hosts: Paul Sweeney and Scarlet Fu
Market news and in-depth company research.
On this podcast:

- Steve Man, Bloomberg Intelligence Global Autos and Industrials Analyst, discusses GM earnings
- Sid Philip, Bloomberg Chief Correspondent for Global Aviation, discusses airline earnings.
- Anurag Rana, Bloomberg Intelligence Technology Analyst, discusses Nvidia investing $2 Billion More in CoreWeave.
- Michael Halen, Bloomberg Intelligence Senior Restaurant and Foodservice Analyst, discusses Starbucks earnings.
- John Butler, Bloomberg Intelligence Senior Telecom Analyst, discusses AT&T earnings.
- Thomas Black, Bloomberg Opinion Columnist, discusses UPS earnings.
- Janet Lorin, Bloomberg Higher Education Finance Reporter, discusses the Bloomberg Big Take story: “Yale’s Endowment Model Falters at Tough Moment for Universities.”

Bloomberg Intelligence, the research arm of Bloomberg L.P., has more than 400 professionals who provide in-depth analysis on more than 2,000 companies and 135 industries while considering strategic, equity and credit perspectives. BI also provides interactive data from over 500 independent contributors. It is available exclusively for Bloomberg Terminal subscribers.

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Market news and in-depth company research. Watch Paul LIVE every day on YouTube: http://bit.ly/3vTiACF. Hosts: Paul Sweeney and Scarlet Fu
On this podcast:

-Dan Ives, Global Head of Technology Research at Wedbush Securities

-Danielle DiMartino Booth, CEO and Chief Strategist at QI Research

-Vincent Piazza, Bloomberg Intelligence Senior Equity Research Analyst

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Breaking news from the White House.   

President Donald Trump said he intends to nominate Kevin Warsh to be the next chair of the Federal Reserve, according to a post on his Truth Social platform.   

“I have known Kevin for a long period of time, and have no doubt that he will go down as one of the GREAT Fed Chairmen, maybe the best,” Trump wrote. “On top of everything else, he is ‘central casting,’ and he will never let you down.”    

Warsh, who served on the US central bank’s Board of Governors from 2006 to 2011 and has previously advised Trump on economic policy, would succeed Jerome Powell when his term at the helm ends in May. It marks a comeback for Warsh, 55, whom the president passed over for the top job in 2017 when he selected Powell.   

If confirmed by the Senate, the former Fed governor will take charge of US monetary policy at a time when many economists and investors see its traditional insulation from elected officials as being under threat from the White House. Warsh aligned himself with the president in 2025 by arguing publicly for lower interest rates, going against his longstanding reputation as an inflation hawk.

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Apple delivered record quarterly sales and a better-than-anticipated forecast for the current period, even as the company warned that rising component costs are threatening to squeeze margins.

Revenue will rise 13% to 16% in the second quarter, which runs through March, the company said Thursday during a conference call with analysts. That exceeded the 10% projected by Wall Street — showing that Apple can maintain momentum after an iPhone-fueled sales surge in the December quarter.

For instant reaction and analysis, Bloomberg Businessweek Daily cohosts Carol and Tim speak with:

• Bloomberg News Managing Editor for Global Consumer Tech Mark Gurman
• Bloomberg Tech Co-Host Ed Ludlow

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Market news and in-depth company research.

Bloomberg Intelligence hosted by Paul Sweeney and Scarlet Fu

-Anurag Rana, Bloomberg Intelligence Technology Analyst, recaps Microsoft and IBM earnings. Microsoft Corp. shares sank after reporting record spending and slowing cloud sales growth, fueling investor concerns about the return on that spending. International Business Machines Corp. is looking to raise a maximum of €3.5 billion from a four-part euro debt offering to be used for general corporate purposes.

-Mandeep Singh, Global Tech Research Head at Bloomberg Intelligence, recaps Meta earnings. Meta Platforms Inc. topped projections for holiday quarter revenue and gave a strong forecast for the current period during its earnings report.

-Steve Man, Bloomberg Intelligence Global Autos and Industrials Analyst, recaps Tesla earnings. Tesla Inc. will spend over $20 billion on a dramatic reshuffling of factory lines to ramp up production of cars, batteries and robots across half a dozen plants.

-Christopher Ciolino, Bloomberg Intelligence Senior US Machinery Analyst, discusses Caterpillar earnings. Caterpillar Inc. got an earnings boost from selling power generation equipment to AI data centers in its fourth quarter, helping drive quarterly results that topped Wall Street’s expectations.

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