Bloomberg Daybreak: Asia Edition

Apple delivered second-quarter revenue that edged past analysts’ estimates, helped by demand for the iPhone and Mac, while failing to produce the blowout results that some investors were anticipating. Revenue gained 17% to $111.2 billion during the period, which ended March 28, the company said in a statement Thursday. Analysts had anticipated $109.7 billion on average. Apple itself had projected sales growth of 13% to 16%. The company is benefiting from a series of new products launched in March, including the MacBook Neo, iPhone 17e, updated iPad Air models and a fresh MacBook Pro. The $599 Neo — Apple’s first major push into low-cost laptops — has been particularly popular and remains sold out at several retailers. Still, the results were uneven. Apple fell short of expectations in the Americas and Europe regions, while exceeding projections in China and other parts of Asia. The iPhone — its flagship product — was in line with the average Wall Street estimate. For instant reaction and analysis, Bloomberg Businessweek Daily hosts Carol Massar and Tim Stenovec speak with: See omnystudio.com/listener for privacy information.

US equity futures rose, reversing earlier declines, helped along by late-market gains in Alphabet Inc. and Amazon.com Inc. Meanwhile, Meta Platforms Inc. shares slid in post-market trading alongside Microsoft Corp., keeping alive lingering concerns over artificial intelligence spending. We heard from Maribel Lopez, Lopez Research Founder and Principal Analyst. She spoke to Bloomberg's Shery Ahn and Haidi Stroud-Watts. Plus - Federal Reserve officials left interest rates unchanged, but revealed a deepening division over the outlook for policy amid increased uncertainty caused by the conflict in the Middle East. Four officials voted against the decision, including three who objected to language in their post-meeting statement that suggested the central bank would eventually resume cutting rates. In what will be his last press conference as Fed chair, Jerome Powell said he intends to remain at the central bank as a member of its Board of Governors. We heard from Jeanette Garretty, Robertson Stephens Chief Economist. She spoke to Bloomberg's Haidi Stroud-Watts and Shery Ahn. See omnystudio.com/listener for privacy information.

Four of the biggest companies in the US: Alphabet, Amazon, Meta and Microsoft all reported earnings after the bell. - Meta Platforms shares slid after the company raised its spending outlook for the year, reigniting fears that the historic levels of investment it’s making to build artificial intelligence models won’t pay off. - Microsoft's cloud business reported growth that narrowly beat analysts’ estimates, disappointing investors concerned that the company isn’t fully capitalizing on demand for AI services. - Amazon spent more than anticipated to expand data center capacity in the quarter, fueling the fastest sales growth for its cloud unit in more than three years. - Alphabet (GOOGL) reported quarterly revenue and profit that beat projections, fueled by strong growth in its cloud computing unit, signaling that the internet giant’s unprecedented investments in AI infrastructure are beginning to pay off. For instant reaction and analysis, Bloomberg Businessweek Daily hosts Carol Massar and Tim Stenovec speak with: See omnystudio.com/listener for privacy information.

Bloomberg's Tom Keene and Jonathan Ferro and Lisa Abramowicz discuss remarks from Fed Chair Jay Powell following the Federal Reserve's latest policy decision on a special edition of Bloomberg Surveillance. Federal Reserve Chair Jerome Powell said he’ll remain at the central bank as a governor after his term as chair ends. “After my term as chair ends on May 15, I will continue to serve as a governor for a period of time to be determined,” Powell said Wednesday at a press conference. While Powell’s term as Fed chair ends on May 15, his seat on the Board of Governors doesn’t expire until 2028. “I plan to keep a low profile as a governor,” he said. “There is only ever one chair of the Federal Reserve Board. When Kevin Warsh is confirmed and sworn in, he will be that chair.” See omnystudio.com/listener for privacy information.

Bloomberg's Tom Keene, Jonathan Ferro and Lisa Abramowicz break down the Federal Reserve's latest policy decision on a special edition of Bloomberg Surveillance. Federal Reserve officials left interest rates unchanged, but revealed a deepening division over the outlook for policy amid increased uncertainty caused by the conflict in the Middle East.Four officials voted against the decision, including three who objected to language in their post-meeting statement that suggested the central bank would eventually resume cutting rates. See omnystudio.com/listener for privacy information.

The United Arab Emirates will leave OPEC next month, in a significant blow to the group that raises questions about its future at a time when the industry is grappling with the massive supply disruption caused by the Iran war. We heard from Hartmut Issel, UBS Wealth Management Head of APAC Equities and Credit speaking to Bloomberg's Shery Ahn and Haidi Stroud-Watts And - Japanese electronic components maker TDK posted 4th quarter sales and operating profit that beat consensus, but the full year outlook fell short of the average analyst estimate. TDK CEO Noburo Saito spoke to Bloomberg's Shery Ahn. See omnystudio.com/listener for privacy information.

In Singapore, business leaders are gathering in Singapore today for a Bank of America conference focused on technology. Front and center are the fallout from the Iran war and where AI investments are headed. Bernard Mensah, President of International for Bank of America spoke to Bloomberg's Haslinda Amin at the event. And - Asian stocks held near their highest level since late February as traders awaited the next catalyst in the Middle East and central bank decisions. Meantime, CLSA has released a new portfolio about China's supply chain resilience amid the ongoing geopolitical tensions. Shihao Li is CITIC CLSA A-Share Strategist and he spoke to Bloomberg's David Ingles and Avril Hong See omnystudio.com/listener for privacy information.

Crude oil pared gains and Asian stocks extended advances after a report said Iran offered the US a new proposal to reopen the Strait of Hormuz, lifting sentiment after efforts to restart talks stalled. We spoke about the markets with Jasmine Duan, Senior Investment Strategist at RBC Wealth Management Asia, speaking with Bloomberg's Haidi Stroud-Watts and Shery Ahn And - South Korean Trade Minister Yeo Han-koo speaks with Bloomberg's Shery Ahn on The Asia Trade on reducing dependence on the Middle East. See omnystudio.com/listener for privacy information.

Bloomberg Daybreak Weekend with Host Nathan Hager take a look at some of the stories we'll be tracking in the coming week. See omnystudio.com/listener for privacy information.

Intel gave a strong sales forecast for the current period, signaling that the struggling chipmaker is finally beginning to benefit from the giant build-out of artificial intelligence infrastructure. Revenue will be $13.8 billion to $14.8 billion in the quarter ending in June, the company said Thursday in a statement. Analysts, on average, estimated $13 billion, according to data compiled by Bloomberg. Earnings, excluding some items, will be about 20 cents a share, compared with a Wall Street prediction of 9 cents. The upbeat outlook suggests that Chief Executive Officer Lip-Bu Tan is making progress on a challenging comeback plan. After lining up major investments in Intel last year — helping to strengthen the company’s balance sheet — Thursday’s results suggest he’s now delivering on a promise to improve its operations. Intel shares rose 14% in extended trading. The stock had gained 81% this year before the results were released, closing at $66.78. For instant reaction and analysis, Bloomberg Businessweek Daily hosts Carol Massar and Tim Stenovec speak with: See omnystudio.com/listener for privacy information.

Business and finance news from the Asia-Pacific. Stocks and crude oil swung at the open in a nervous start to trading in Asia, as lingering concerns about the war in Iran clashed with strong corporate earnings that are helping steady investor sentiment. We spoke to Mark Cranfield, Bloomberg's MLIV Strategist. Plus - SK Hynix Inc. reported a five-fold jump in quarterly profit and reiterated plans to ratchet up its capex "significantly" this year, underscoring surging prices of memory chips that underpin global artificial intelligence development. The Korean chipmaker is riding an AI spending boom that's reshaping the memory sector and offsetting fears around supply chain disruptions stemming from war in the Middle East. The outperformance comes as investors debate whether the advent of AI is igniting a super-cycle of demand that will help SK Hynix and its rivals break a decades-old cycle of boom and bust. We heard from Tom Kang, Counterpoint Research Director. He spoke to Bloomberg's Paul Allen and Haidi Stroud-Watts. See omnystudio.com/listener for privacy information.

Tesla beat Wall Street’s profit expectations to start the year as the automaker said demand for its electric vehicles is rebounding around the globe, hinting at a possible recovery for its long-struggling automotive business. Adjusted earnings rose to 41 cents a share in the first quarter, the company said Wednesday in a statement, higher than the 34-cent average of analyst estimates compiled by Bloomberg. It’s the second straight quarter Tesla’s earnings have exceeded expectations. Tesla said it “saw continued growth in demand for our vehicles” in parts of Asia-Pacific and South America, along with a rebound in North America and the Europe-Middle East region. The surprisingly optimistic comments come several weeks after the automaker reported one of its worst quarters of auto sales in years. For instant reaction and analysis, Bloomberg Businessweek Daily hosts Carol Massar and Tim Stenovec speak with: See omnystudio.com/listener for privacy information.

Business and finance news from the Asia-Pacific. US equity-index futures climbed and the dollar edged lower after President Donald Trump said he would extend the ceasefire with Iran, spurring cautious optimism among investors. For more on the markets, we spoke to Paul Dobson, Bloomberg's Executive Editor for Asia Markets. And, for more analysis on the extended Iran truce, we turn to Jessica Genauer, Academic Director of the Public Policy Institute at the University of New South Wales. She spoke to Bloomberg TV Hosts Haidi Stroud-Watts and Shery Ahn. See omnystudio.com/listener for privacy information.

President Donald Trump announced he was extending a ceasefire with Iran indefinitely a day before it was set to expire, even as plans for a fresh round of talks between the two countries fell apart. In a Truth Social post, Trump said Tuesday he would maintain a blockade over ships coming to and from Iran in the Strait of Hormuz. He said Pakistan, which had mediated between the two sides, asked for the US to hold off on fresh strikes and he was extending the ceasefire until Iran submits a new proposal “and discussions are concluded, one way or the other.” For instant reaction and analysis, Bloomberg Businessweek Daily hosts Carol Massar and Tim Stenovec speak with: See omnystudio.com/listener for privacy information.

Business and finance news from the Asia-Pacific. Asian stocks edged higher as signs Iran may join talks with the US fostered cautious optimism about progress in the Middle East ahead of a looming ceasefire deadline. Oil dropped. We spoke to Patrick Kennedy, Founder & Managing Partner, AllSource Investment Management. Plus - Apple Inc. Chief Executive Officer Tim Cook will hand the reins to hardware boss John Ternus later this year, capping a 15-year tenure that turned the company into a $4 trillion business spanning watches, video streaming and financial services. Ternus will become CEO on Sept. 1, when Cook will transition to executive chairman, the company said in a statement Monday. Ternus, 50, has served as head of hardware engineering since 2021 and spent 25 years focused on product development at the iPhone maker. Bloomberg News previously reported that Ternus was Cook's heir apparent. Bob O' Donnell is President and Chief Analyst at TECHnalysis Research and he spoke to Bloomberg's Haidi Stroud-Watts and Shery Ahn. See omnystudio.com/listener for privacy information.

Bloomberg Daybreak Weekend with Host Nathan Hager take a look at some of the stories we'll be tracking in the coming week. See omnystudio.com/listener for privacy information.

Business and finance news from the Asia-Pacific. Asian stocks fell as investors lightened their positions ahead of the weekend while awaiting progress on extending the US-Iran ceasefire, after a rally driven by expectations the truce would be prolonged. We spoke to Winnie Hsu, Bloomberg's Asia Equities Reporter. Plus - President Donald Trump struck an optimistic tone for prospects that the US and Iran could clinch a permanent ceasefire as the two sides discuss an extended truce ahead of its expiration next week. "It's looking very good that we're going to make a deal with Iran, and it's going to be a good deal," Trump told reporters at the White House Thursday. Talks between Washington and Tehran could resume this weekend, he said. We heard from Will Todman, CSIS Chief of Staff of the Geopolitics and Foreign Policy Department. He spoke to Bloomberg TV Hosts Haidi Stroud-Watts and Shery Ahn. See omnystudio.com/listener for privacy information.

Netflix gave a forecast for the second quarter that fell short of analysts expectations, sending the shares down in extended trading. The streaming pioneer also announced that chairman and co-founder Reed Hastings is stepping down from the board after 29 years to pursue philanthropy and personal interests. Revenue rose 16% in the first three months of the year to $12.3 billion, compared with estimates for $12.2 billion, the company said in a statement on Thursday. Earnings per share for the quarter were $1.23 compared with estimates of 76 cents. For instant reaction and analysis, Bloomberg Businessweek Daily hosts Carol Massar and Tim Stenovec speak with: See omnystudio.com/listener for privacy information.

Business and finance news from the Asia-Pacific. Asian stocks tracked Wall Street higher as optimism around a potential US-Iran ceasefire and robust corporate earnings buoyed sentiment. The MSCI Asia Pacific Index opened 0.4% higher on Thursday as traders bet a de-escalation of the Middle East conflict will ease oil prices and lift economic growth. That was after the S&P 500 and Nasdaq 100 indexes both closed at record highs, with Bank of America Corp. and Morgan Stanley leading financials higher after stronger-than-expected revenue. We spoke to Paul Dobson, Bloomberg's Executive Editor for Asia Markets. Plus - The US and Iran are considering a two-week ceasefire extension to allow more time to negotiate a peace deal, according to a person familiar with the matter, reducing the risk of a resumption of fighting despite an intensifying standoff over the Strait of Hormuz. With the initial truce due to expire next week, mediators between the warring sides are seeking technical talks to overcome the most contentious issues preventing a longer-term agreement, said the person, who asked not to be identified discussing sensitive matters. Those include the reopening of Hormuz and the future of Iran's nuclear program. We heard from Linda Robinson, Senior Fellow at the Council on Foreign Relations. She spoke to Bloomberg's Paul Allen and Shery Ahn. See omnystudio.com/listener for privacy information.

Business and finance news from the Asia-Pacific. The US is pressing ahead with a naval blockade of the Strait of Hormuz to curb Iran's oil exports, with more than 20 commercial ships transiting the strait in the last day. For more on what this means for the supply chain, we heard from Steve Hochman, Partner and Managing Director for the Americas at Nagarro. Plus - The US and Iran are looking to arrange a second round of peace talks in the coming days, while a standoff in the Strait of Hormuz worsens a global energy crisis and complicates diplomatic prospects. The objective is to hold more discussions before an April 7 ceasefire expires next week, according to people familiar with the matter. One proposal is to return to Pakistan, where initial negotiations were held last weekend, though other venues are being considered, said the people, who asked not to be identified discussing private deliberations. For more, we heard from Mara Rudman, Miller Center Practitioner Senior Fellow and Former US State Department Deputy Envoy for Middle East Peace. She spoke to Bloomberg's Haidi Stroud-Watts and Avril Hong See omnystudio.com/listener for privacy information.