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- Tech Stocks, Apple in China, and the Paris Olympics | Bloomberg Technology
Tech Stocks, Apple in China, and the Paris Olympics | Bloomberg Technology
Stay updated on the latest tech stock trends, Apple's position in China, and cybersecurity threats ahead of the Paris Olympics. Join Bloomberg Technology for insightful market coverage and in-depth analysis.
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From the heart of where innovation money and power collide in Silicon Valley and beyond. This is Bloomberg Technology with
Caroline Hyde and Ed Ludlow. Live from London in San Francisco. This is Bloomberg Technology. Coming up we'll have full market
coverage after a wild week for tech stocks. Plus Apple losing ground in China. We'll break down why. And as the Paris Olympics
kickoff they brace for an onslaught of cyber attacks. But first let's check in on these markets an extraordinary week. In fact
we have been down for three straight weeks on the Nasdaq 100. This week we lose about 3 percent. It is the worst week. Well
only since the previous week since last week. But we.
are trading basically at the low since May and we've wiped off a ton of market capitalization. Yeah and I think a big part of
the story is the magnificent seven. I think you've already shown this Bloomberg terminal chart this week. But it's kind of the
go to you know in the past two sessions Wednesday Thursday almost a trillion dollars of market cap raised. And that has a
broader impact on markets at an index level. But I think largely Google which we'll talk about later in the program
specifically and volatility in Nvidia. It's still top of mind for so many investors. So let's talk about it. Joining us for more
is Anthony Sagan in Bainey and I'm I'm Mera price. Sorry Friday. Not enough coffee. Financial chief market strategist. The market
volatility gets you gets me. And you welcome back to the program. I mean I framed it in a very specific way. We're still
micro focused on the Mag 7 whether it's a waiting consideration or whether it's just a news flow consideration. Someone like you
looking at the markets is that still truly the case.
Yeah, I mean, I think the next few weeks are all about earnings.
We're going to have a big week.
If you thought this week was volatile, wait for next week.
We have Microsoft, Apple, Amazon, Meta.
All of these companies are reporting they're about a third of the NASDAQ by market cap weight.
And so there's going to be a lot of attention on the earnings from these MAG 7 names.
And when we get later in August, we're going to see NVIDIA.
And that's been the big story in the first half of what's been driving the market higher.
So I think there's a little bit of trepidation around earnings season.
I think earnings are going to be fine for the Mag 7, but there's certainly some trepidation if they're going to meet kind of the whisper numbers and the expectations that have been set, which are very high.
Valuations are very high in these Mag 7 names.
And I think the market's starting to pay a little bit more attention to all the stocks that didn't keep pace with the Mag 7 financial small caps, cyclicals, outside attacks.
