Oracle Tops Estimates on AI, Apple's First Foldable Phone , Freeport-McMoRan Falls

0:00brought to you by Apple Card. Apply for Apple Card and earn daily cash back on back-to-school purchases, including 3% back on everything at Apple. Subject to credit approval, Apple Card is issued by Goldman Sachs Bank USA Salt Lake City Branch, terms and more at Applecard.com. Bloomberg Audio Studios Podcasts, Radio, News The Stock Movers Report, your round-up of companies making moves in the stock market, harnessing the power of Bloomberg data. The story for Oracle is really one of a company that was a software company,

1:03and now is building out cloud infrastructure. They've been spending a ton. They've been raising a ton of debt on building out AI infrastructure. And the question has been, do they have the revenue to meet all of that financing? These earnings solidifying that. Revenue rose 30% to 19.4 billion that beat estimates. Cloud infrastructure, revenue surged 121% to 7.4 billion. So at least right now, investors are happy about the Oracle story. They are, but it's been a bumpy ride to get here. It has been. I am looking at Brody Ford's right up of this, and he points out that the stock had dropped 38% since its June 1st high. So it was almost $250. Well, a year ago, look at what it was a year ago after it's this exact report a year ago. We were sitting on the beach. I won't forget this, Carol. Huntington Beach, California. We were out there. You met Wee.

2:03Yeah, Wee. Yeah. An Oracle posted this gangbusters quarter. You're right. It was just unbelievable. And the stock has come a long way. Yeah, the stock shot up a straight line back then about a year ago. Anyway, all right. So optimism here in the aftermarket. Hey, let's go to a name that we've been talking a lot about in the last 24 hours. I'm talking about Apple. Okay, so Apple, AAPL, the ticker, was up 3.6% in the regular trading session. And most of the other Mag 7 names were actually lower in the regular trading session. So Apple was the standout here. Analysts, I guess we're generally positive on the company's new foldable iPhone duo. Foldable phone or flip phone? Not a flip phone, according to Carol's. You're like, it's a flip phone. We're like, no, it's not a flip phone. It's different. It's basically like two iPhones that will then fold out into one larger. Right. We're a flip phone still has the earpiece and the little piece and yeah. A flip phone would be fun.

3:04Apparently some Gen Z are actually going back to flip phones. Oh, yeah. Because they're just fed up with everything that you can do on your smartphone and they want to. That's the smartphones are incredible, but they're addicted to historic days. Yeah. Well, how many do you ever get off like the subway and just like everybody is just staring at their phone? I do that every day actually. Yeah. I try to challenge myself. I'm like, how long can I sit here on the subway? But everybody just stare at everybody's. How long can you go? Everybody goes up the stairs really slowly or down the stairs because they're all reading their phone. So I don't know if the blue or the blue or the the iPhone duo is going to make that trend any better. At least today in the session, there were a number of Wall Street analysts who are positive and then our own intelligence, our Blueburg intelligence said duo is one of the better design products by the smartphone maker in several years and they anticipate a much better consumer reception than recent models. So perhaps that novelty of a brand new design brings more people in.

4:05Thank you for getting us back on track. Of course. Yeah, appreciate that. Because it doesn't take much for us to get this. $2,000 is that starting price. Yeah. It's a pretty penny. It's pretty penny. You know, it also used to be a pretty penny and what it was made out of. Copper? Copper. I knew you were going there. Although really it still is a pretty penny. But yeah, but it's not made out of a lot of copper. I think anymore. You're talking about the penny. No zinc. Right? Is it? Yeah. But copper is worth a lot right now. We digress. Copper is for a ton. So copper actually hit a record high in the regular trading session. But then it slumped and it brought down copper stocks with it. So I want to highlight free port mac moron ticker f c x. It was down about 6% in the regular trading session. On Thursday was the biggest drop since June. And this was all coming after a report that showed inflation concerns. I mean that a US government decision on whether to impose tariffs on the metal has now stalled. So a little bit of uncertainty now on the timing and the outlook for these tariffs.

5:09And this was a report coming from Reuters. They said that US officials are weighing concerns that higher prices for copper as we were talking about could raise manufacturing costs. And they're weighing that against the potential benefits of encouraging more domestic mining of the metal. This stock movers report from Bloomberg Radio. Check back with us throughout the day for the latest roundup of companies making news on Wall Street. And for the latest market moving headlines, listen to Bloomberg Radio Live. Catch us on YouTube. Bloomberg.com and on Apple CarPlay and Android Auto with the Bloomberg Business app.

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