Apple Dips, Oracle Skyrockets, Synopsys Plunges

On this edition of Stock Movers:

- Apple (AAPL) shares are lower today after it debuted its its thinnest-ever iPhone and new Pro versions with enhanced cameras and more battery life this week. the company is betting that a flurry of smartphone innovation can entice shoppers this holiday season. The new skinnier model — dubbed the iPhone 17 Air — is just 5.6 millimeters thick, making it about a third slimmer than Apple’s current handsets. The device drew the loudest cheers from an audience assembled at Apple’s headquarters in Cupertino, California, where the company debuted the new products Tuesday.

- Oracle (ORCL) shares are surging today, the most since 1992 after the company gave an aggressive outlook for its cloud business, an outlook that's cementing the software maker’s place in the race to support demand for artificial intelligence computing. The surge is making co-founder Larry Ellison the world’s richest person, surpassing Elon Musk. AI-related stocks such as chip developer Nvidia Corp. and Asian suppliers also climbed. The Wall Street Journal also reported that OpenAI signed a contract to purchase $300 billion in computing power over roughly five years from Oracle.

- Shares of chip-design software maker Synopsys Inc. (SNPS) plunged the most in more than three decades after the company warned that US export restrictions are contributing to a slowdown in China, the largest market for semiconductors. As part of the company’s quarterly report on Tuesday, Chief Executive Officer Sassine Ghazi said that a push to develop its own intellectual property isn’t achieving the desired results — partly because of the China challenges. Ghazi said he would be refocusing resources on other areas and is reducing the company’s headcount by about 10%.

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Episode Transcript

Speaker 1 (00:02):
Bloomberg Audio Studios, Podcasts, radio News.

Speaker 2 (00:08):
The Stock Movers Report, your roundup of companies making moves
in the stock market, harnessing the power of Bloomberg Data.

Speaker 3 (00:16):
You want to take a look at some of the
stocks on the move today.

Speaker 1 (00:19):
So we're joined by Bloomberg News cross asset reporter build
Donna Hirich.

Speaker 3 (00:22):
So Buildna, let's start with Apple shares.

Speaker 4 (00:25):
So much stuff on the move today. But yeah, I'm
looking at Apple ticker AAPL. It's laura by about three
percent today after it debuted its thinnest ever iPhone and
new proversions with enhanced cameras and more battery life. And
that was earlier this week, and the company really is
betting that a flurry of smartphone innovation can hopefully entice

(00:49):
shoppers this holiday season. But I think what a lot
of people count on for their iPhones is long battery life,
right and thin. The thinner version is sort of compromise
for the upgrade.

Speaker 1 (01:04):
Telling you, I know, I had mine for probably four
or five years. Now I probat need to I'm for
an upgrade. Yeah, I'm for so I'll have to check
it out, but I like to wait a couple months
to see sort of how things shakeout, and then maybe
later this year, I'm gonna say what.

Speaker 4 (01:18):
I actually had. I had one with a button up
until a couple months ago.

Speaker 1 (01:21):
Yeah, I missed those. Those are my favorites, I know,
but I know hung on to that as long as
I could as well.

Speaker 3 (01:27):
I know another one, of course, can't leave out Oracle.
Walk us through the latest big moves.

Speaker 4 (01:31):
Here one of the really big stories today, ticker oh
r CL surging more than thirty percent on one point today,
the most since nineteen ninety two. I will say I
was alive in nineteen ninety two, and the company did
give a very aggressive outlook for its cloud business, and
it's an outlook that's cementing the software makers place in

(01:53):
the race to support demand for AI computing. And then
thanks to this pop another big story from today is
that its co founder Larry Ellison is now the world's
richest person, surpassing Elon Musk's previous number one spot.

Speaker 1 (02:08):
For that raised so much news the opening thing, it's
a lot surrounding chirpact I.

Speaker 4 (02:14):
Champact, Oracle related news, and it's also driving higher a
lot of other.

Speaker 2 (02:18):
AI cent.

Speaker 3 (02:22):
Double digits today as well. That's a good point. Another
big day for Klarna, had a big day.

Speaker 4 (02:29):
They debuted, yes ticker k l a R. I always
love a good ticker, jumping some fifteen percent today and
it's opening trade with the company and some of its
backers raising one point three to seven billion in their IPO,
and it's sort of signaling to the market that new
listings potentially have room to run. That's been sort of

(02:51):
a story for a couple of years now, you know,
in the post pandemic world, like our ipo is doing well,
and now we are seeing all of these crypto companies
making to go public. And today you have Klarna doing
quite well with its opening. The shares open at fifty
two each, fifty two dollars each above the IPO price
of forty piece.

Speaker 3 (03:12):
And you cover crypto as part of cross asset pretty
closely as well. What do you what's the latest whenever
you're speaking with your sources as far as how they're
managing money and what kind of allocations they have to
the crypto space, to.

Speaker 4 (03:24):
The crypto space ETFs, it always comes back to ETFs,
right because and even the prior guests I heard it
mentioned bitcoin ETFs and that having been a really pivotal
moment in the crypto ecosystem over the past couple of years,
and so much money has flown towards those products. So
these days, when you are seeing people allocate money towards crypto,

(03:45):
a lot of times it is via bigcoin ETFs in particular.
But when it comes to the crypto company's going public,
that is really an interesting story because when they started
we when we started reporting about, you know, number of
these firms making plans to go public this year, it
still had been up in the air, like what will

(04:05):
the market look like, will the market allow it? And
now we're really starting to see a lot of it
come to fruition.

Speaker 2 (04:12):
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