저자: Yahoo Finance · 외국인
요약 보기
이번 방송은 장 마감 시장 보도로, 기술주 중심의 급락을 다뤘습니다. 기자 제러드 블리커리는 나스닥이 5% 하락해 조정 국면에 들어갔고, 다우와 S&P 500이 수요일의 선거 후 랠리를 모두 지웠다고 전했습니다. 소형주(러셀 2000 포함)도 2025년 4월 이후 최악의 하루를 기록했습니다. 업종별로는 모두 하락했고, 기술 업종 ETF인 XLK가 8% 하락해 2020년 3월 팬데믹 저점 이후 최악의 하루를 기록했습니다. 엔비디아, 브로드컴, 테슬라 등 주요 종목이 크게 하락했고, 반도체주는 AMD와 마이크론이 17% 하락하는 등 하루 만에 시가총액 기준 최소 1조 달러가 빠져나간 것으로 언급됐습니다. 방송에서는 AI 인프라 확장 둔화 우려, 민주당의 의회 장악에 따른 세제 혜택 축소 우려, 그리고 VIX가 27 부근까지 오른 공포 심리가 하락의 배경으로 제시됐습니다. 리치 번스타인은 투자자들의 과도한 위험 노출, 선거 후 불확실성, 기술 부문의 펀더멘털 약화가 겹쳤다고 설명했고, 다만 11개 S&P 업종 중 10개가 시장을 웃돌아 시장 확산은 건강한 신호라고 평가했습니다. 그는 고용·물가 지표가 이번 주 이후 중간선거보다 더 큰 변수가 될 수 있다고 전망했습니다. 또한 앤트로픽의 나스닥 IPO(11월 17일 주간 예정)를 두고 밸류에이션에 대한 회의론도 소개됐습니다. 반도체 ETF인 SMH는 11% 하락해 2020년 팬데믹 저점 이후 최악의 하루를 기록했고, 나스닥 100 역시 2025년 4월 이후 최악을 기록한 것으로 보도됐습니다. 가치주와 성장주의 흐름, 그리고 10월 6일을 전환점으로 본 분석도 함께 다뤄졌습니다. 이 밖에 크리스피 크림의 매출 가이던스 상향과 턴어라운드 전략, 퀄컴의 자동차·데이터센터 사업 확장 및 CFO의 실적 설명, 그리고 e.l.f. 뷰티의 2분기 순매출 51% 성장 등 개별 기업 소식도 전해졌습니다. 방송은 밥스 디스카운트 퍼니처의 3분기 동일 매장 매출 증가와 시장의 방어적 매매 등도 짚었으며, 내일 발표될 고용지표를 주목해야 한다고 마무리됐습니다. #기술주 #나스닥 #반도체 #AI투자 #시장보도 #VIX #기업실적
다듬은 글
Hello and welcome to Market Domination. I'm Broo Pal and we're joining you live from our New York City headquarters. And what a day it has been. We just heard the closing bell. Let's take a look at how stocks ended the day with our very own Jared Blickery. I mean Jared, this is sort of uh a wild move by the markets.
I believe what we've seen is this largest selling day since 2020. The Nasdaq down 5% now in correction territory. Dow S&P 500 completely erasing those post-election rallies that we saw on Wednesday. Break this down for us. Let's start maybe with the the major indices to kick off. Sounds good. Let's go to the Wi-Fi interactive.
And as you said, we got some really big superlatives here. So, the major indices in the Russell 2000 all tracking the worst day since uh April 2025. That was the big tear off selloff day. But you mentioned the pandemic. We're going to mention chip stocks in a minute. So, uh just wait for that. But you can see we started out in the green.
Seemed like it was going to be another day, maybe a continuation rally from yesterday. Let's put the two-day view on the Dow. And you can see that has been erased. All of yesterday's gains. In the NASDAQ, we have a very similar story. Let me just put that back to a one day. You can see we closed basically at the lows of the day, off 5%.
Huge down day here. S&P 500 not far be excuse me, not far behind, down over 4% again at the lows. Even the equal weighted index which uh is where every stock gets one vote and has been doing much better than the general market recently still better today but it's down 3%. That is not a good day by any stretch.
Small caps, no love there for small caps. We got those down 4 and a.5%. Uh even midcaps down a little bit less 3.85%. I'll show you quickly what's going on in the bond market. We got 10ear Tenote yield that is down six basis points. Remember when that was north of 5%? Seems like an eternity ago. But I want to get to some other stuff here because we got the VIX.
VIX shot up to 27 about 27 handle on the VIX. If I show you saw something like that, Jared, I'm glad you asked because let's take a look at this chart right here. U the last time we saw the VIX like this was during the Iran war and here we have all those Iran war headlines in there. We the market was acting like uh all the war premium was getting sucked out of the market yesterday.
Well, guess what? We got a new risk premium being baked in and that is the AI sell-off. The rubber is hitting the road right now. Uh one more let's actually let's get to some heat maps here. We'll first show you the uh let's go to the sector action for today. Everything in the red communication services uh the least bad off but look at this.
XLK down 8%. That is the worst day since the pandemic lows March 2020. That's what we're talking about right there. And look at this. Everything else was uh better than the S&P 500. So tech really doing a lot of the heavy lifting to the downside there or heavy dropping, however you want to phrase it.
Here is the NASDAQ 100 heat map. You can see the generals here getting taken out and shot. Nvidia down 9%. Uh SpaceX down 9%, Broadcom down 10%, Tesla down 10%. And you know, you take a look at the two days here for Tesla, that's down 13%, SpaceX down 12%. The green there shows you we are still looking at some gains since uh Monday close.
But let me just show you the semiconductor map because that is looking pretty bad right now. Um and I'll throw it back to you after this. Uh Broadcom again down 10%. AMD down 17, Micron 17. This is just one day and uh a lot of market cap tr at least a trillion maybe a trillion and a half sucked out of the market today alone.
And Jared, you'd mentioned it before, but this is largely this fear of the AI buildout slowing down, of maybe tax incentives shortening because of the Democrats now holding the majority holding Congress. And exactly what that looks like is what investors are trying to assess right now. And the fear that we will see a slowdown is certainly weighing as well.
You also have to take into consideration what exactly this means for the war in Iran. Many hoping that this does mean that an end is closer, but there's still some skepticism. So what exactly are we seeing in oil prices as a result of that? Yeah, let me take those one at a time here because I think it's important to remember what happened uh in the market in October and that was a huge unwind of the AI trade and now from most of the desks that I'm seeing the Wall Street desk, they're saying that was hedge funds taking profits.
Well, today we might have a new catalyst because the AI trade has new risk getting uh baked into it and that is of course the data center is not looking like they're going to come online uh in the coming years the way the market had hoped. So you also asked about oil. I will show you oil was actually green earlier today.
I don't know if on the Wi-Fi interactive you're going to look. Okay, so it's red now. Uh but if we go to the futures and I'll get back to that in just a second here. Crude oil was above $90 for most of the day. Um, I'll show you WTI first. Up 2.8%. There you go. 90 59 right now. Here's a year-to- date chart.
So, we are definitely off of the highs here. And some of this uh has come over the last few days. I can show you Brent as well. Uh Brent now under $100, but there was very little green today besides Brent uh crude oil, WTI, and some of these commodity markets and maybe the VIX. Right. Right. Right. And Jared, I do want to point out a stock that is in the green today, ending the day higher is Bob's Discount Furniture.
We thought that the XP, the consumer speed sector, was also going to end the day higher. It started in the green, now seeing a downward momentum. But I want to point this out because what we saw from Bob's Discount Furniture, I spoke to the CEO before jumping on with you all and I thought it was really interesting.
He said ultimately the industry continues to struggle, but what they did see was that the furniture industry did stabilize in the third quarter. They actually saw Semar sales grow about 3.8%. that was more than what the street expected. And he went on to say that they're not really calling for a turn yet, but the trend that they saw in the spring of a customer trading up into premium tiers is continuing into the third quarter.
So maybe some good news there. They also saw average order value going up. And that's what they said really carried into the third quarter as well. And I think that this is something to watch, Jared. Not only from the perspective of that single stock now up 6% as we make your way towards the end of the day, but maybe investors at first this morning looking to that defensive trade now obviously not holding on into the close.
Yeah, crude oil, the VIX and Bob's Discount Furniture. There you go. What a day. That's the only green. What a day. Jared Blickery, thanks so much. Appreciate your time. And I want to stick with this because we need to take a closer look at today's market selloff. And for that we have Rich Bernstein, global head of macro at Ginus Henderson Investors.
Uh I mean Rich, what a day. This is uh you know something that we haven't seen in quite some time. We completely wiped out those election rallies now where the NASDAQ is in correction territory. Walk us through the factors that you think are contributing to the selloff this afternoon. Yeah, Brooke. I think it's a number of different things that are just kind of compounding here.
Number one, I think that uh people were taking an immense amount of risk in their portfolios, right? If you looked at beta calculations, if you look at leverage, if you look at all these different things, people were taking an immense amount of risk. Number two is that we've got the election and the uncertainty around the election and what's going to what's going to happen in terms of regulation and things like that.
Although admittedly a lot of the data center regulation may be more on the state level than on the federal level, but we'll see what happens there. Then number three, you have corporate fundamentals that were actually deteriorating in the technology sector, but everybody was hoping that AI's de would be have an insatiable demand and that this this uh kind of deterioration of fundamentals was would be immaterial in the longer term.
Well, now with all these other uncertainties coming up, you really don't have that any certainty to those longerterm fundamentals, but you do have the deteriorating balance sheets and deteriorating near-term fundamentals. So, you put that all together, you get a day like today. At the same time, Rich, what we're seeing is the worst day for the tech sector since March 16th of 2020.
Is this investors ultimately taking out the froth that maybe we've seen within AI? What does this mean for that AI bubble fear that we were talking so much about this time last year? Well, Brooke, you know, the risk to momentum investing, and I think that's what we were seeing, right? It's really kind of hard to justify that this was fundamentally based.
The risk to momentum investing is that nobody can ever predict when it turns, right? It always ends up being sort of like wy coyote where you're running full speed and then you realize that there's no there's nothing anymore and you you fall to the the bottom of the of the canyon. That's momentum investing.
That is typically how momentum investing ends. And and so I think that's what we're seeing again. But I think the most important thing that we should point to here in this very volatile day is Jared referred to this before that 10 of the 11 S&P sectors actually outperformed the market today. The equal weighted S&P outperformed the cap weighted S&P.
A broadening of the market is very very healthy relative to where we were where we were talking about one se at one point it was only seven stocks then it was one theme then it was one sector this broadening of the market is ultimately very very healthy for the economy rich we know that post election stocks tend to go up over time in fact about 100% of the time six months after the past 19 midterm elections stocks have gained with an average of about roughly 14% % a person looking at their portfolio today doesn't necessarily maybe have the foresight to see that.
So explain to us how long does this volatility last and will we see that yet again? So so Brooke I would I would argue that probably in about two weeks or so people are going to forget the midterms. I think the next inflation report we get out I think you know this week we're going to get the employment report.
I think um some of the fundamental economic data that is going to take the front and center stage away from the midterms. I think this is really going to be short term. Now, that doesn't mean the risk is off the table. What happens if the inflation numbers come out stronger than people think? What if the employment numbers come out stronger than people think and and the Fed's going to probably start raising rates?
Well, that's another hurdle that the market's going to have to deal with. But I think in terms of the notion of the election itself, I think the clock is ticking on how much attention we're going to be paying to that. And my guess is in two weeks, nobody's going to care anymore. So people might care about this slowdown of an AI build out right now, but not over time.
I mean, Rich, you also have to point out that in two weeks, like you mentioned that timeline, we're also getting a pretty big IPO. Apparently, we're getting this anthropic IPO set to debut on the NASDAQ the week of November 17th. Some people are skeptical that it can see that valuation of $1.5 trillion dollars that many are expecting because of this fear, this pullback that we're seeing.
Do you think we could see a valuation like that? So, you know, I I can't comment on on anthropic per se, but what I can say is that that these major tech companies have been coming to the equity market and perhaps more importantly to the bond market with reckless abandon. Nobody cares about valuation and and you know these companies you know when they're when they're issuing debt you know most companies when they issue debt say oh well you know corporate debt is trading at 150 over treasuries can I get it at 140 that's not what's going on what's been happening is people have been saying trading at 150 I want to get 35 billion can I get 40 billion
interest rates are immaterial to these companies and I think what's going to start happening is that investors whether it be through debt head or equity are going to become more more choosy. They're going to become more um uh more realistic about the opportunities here and they're going to start looking at fundamentals and pricing, I would argue, more prudently.
Rich Bernstein, thank you so much for joining us. Such great insight on a crazy day. I appreciate it. Thanks, Of course. And the wipeout in chip and AI stocks, well, it's also weighing on Invesco's QQQ Trust ETF. Let's dive into more of that as part of our ETF report brought to you by PIMCO. I want to bring back in Jared Blickery for more on this.
Jared, what are we seeing in after hours trading now? Well, let's uh take a look at what we did for the day. And it was not pretty. Let's go to the Wi-Fi interactive. And here we have, as you said, the Invesco NASDAQ 100 ETF, the so-called Q's versus the VANX semiconductor ETF, SMH. And uh any shaking my head jokes uh I think would be appropriate today.
And we can see both of those closed at the lows of the day. So chips down 11% worst day for chips since I believe 2020 pandemic lows. Uh NASDAQ 100 worst day since probably April of 2025. And uh you take a look at what's happened over the last month. We we peaked almost exactly one month ago October 6 with a major interim high.
It wasn't the absolute high in chip stocks. Uh but it was kind of one of those swing periods. So the one-mon chart really shows you the deterioration over that period. In that time, chip stocks have lost 30%. Meanwhile, the NASDAQ 100, which is full of those mega cap names that we'd love to talk about, that was down 15% or roughly half of that.
So uh to the prior guest point, we were talking about concentration many times over this uh three and a half uh four-year bull market. And guess what? It is not a concentrated market anymore. Things have changed. Um I before we get to my next point, I just want to show you what's happened in leveraged ETFs.
So we have three times leverage semiconductor up and down and in one day we have uh the winner here which was the bearish bet that was up almost 40% while the Sockell that is the bullish bet lost 40%. And that's just to show you that uh these instruments are not for the faint of heart. Leverage uh can really bite you if you don't know what you're doing here.
And when you think about the semiconductor ETF stocks in general, I mean the momentum though Jared that these have gotten year to date has been quite significant. Now seeing this pullback maybe somewhat expected some profit taking here. I think we've definitely seen a lot of profit taking over the last month.
My concern is now that we have fresh catalyst with the election and that things might build and we might have a continuation to the downside. If we go to the charts, I will show you a year-to- date of both the NASDAQ 100 and the chip trade as it's looking right now. And so, this was kind of a this is a chip uh floor or supposed to be a floor.
It's not a floor anymore. Uh we had a low that was tested in the summer and uh that was tested a few days ago and it broke the low broke broke below the 200 day moving average and now it has just crashed. Meanwhile, and so it's holding on to gains of 24%. But this is a market that was up almost 90% in the middle of the year, early summer.
And then you take a look at the cues. NASDAQ 100 was up uh what was that 20 25 point 20 maybe even 28%. It's now crashing back down to that unchanged line. So a lot has been uh damaged here. And if we have time, we can get into value versus growth because that's another theme I've been looking at and exploring.
Yeah, Jared, absolutely. I want to hear more about that because this is something that you're talking about today. Where are we at now? Especially given this pullback that we have seen when it comes to growth versus value and what do investors essentially need to know right now? October 6 was that key swing date.
Things seem to change since then. So let's go to the Wi-Fi interactive and I will show you what Russ Russell 1000 value is versus Russell 1000 growth. So the purple line here is value and you can see that is still holding on to gains of 3.2% 2% and for most of the last month it was climbing climbing kind of flatlined here but it spiked within the last few days.
Value trade really picked up and a lot of people were saying or wondering is this something that has legs? Is it like 2001 when the when the.com bubble bust back then and we had value kind of outperform for years or is this just one of those six uh you know intrayear things that happens for a while and then we go back to the normal story which is when growth uh takes over and growth has led most of this century.
But the other line is growth here. So you can see that's now down 14%. Um, you know, after a day like this, it's tempting to say, well, maybe things are going to mean revert, but I don't know that that that's necessarily the case. I think we have to take this as a big warning sign given that we've seen so many technical levels uh taken out.
Yes, the next day we typically do have a bounce, but tends to be a dead cat bounce. So, uh, at week's end, and this is going to be tomorrow, things are probably not going to be looking that great for the week. So, we kind of got to look to the week ahead and see what we can build on there. What are the fresh catalysts are going to be going to be there?
Are we going to see a ratings uh a rerating to the downside for a lot of these stocks that have just seen incredible moves to the downside here? That's my biggest concern. But in the meantime, a lot of these value names are still kind of holding up. They were down today, but Staples, Energy, Healthcare, a lot of those uh names have uh held on to gains and even built on them over the last month.
Jared, you have to wonder if we're even going to see a reaction to the jobs report tomorrow. I mean, 65,000. We have jobs tomorrow, right? We have jobs tomorrow. Tomorrow is the first Friday of the month. So, we're expecting, at least Wall Street's expecting about 65,000 jobs added. We'll see if we get it.
Jared Blickery, thanks so much as always. Good luck, everyone. And coming up, we're going to take a bit of a pivot here. We're talking to Krispy Cream, CEO, about the company's latest results. Don't go anywhere. Heat. Heat. N. Crispy K Cream is raising its fullear revenue outlook as its turnaround efforts continue.
Joining us now is a CEO of Crispy Cream, Josh Charlessworth. Josh, thanks for being with us. I really appreciate it. Investors are really optimistic about this turnaround strategy. Now, what stage exactly are we in in this turnaround strategy? That should give investors confidence, but at the same time, what exactly does this mean when you're raising your revenue?
What sort of confidence do you have in this strategy as well? Good afternoon. Thanks for having me on. Um, yes, actually, it was good to see the positive response today for a turnaround we actually launched uh just over a year ago. uh and we provided another update today uh demonstrating the journey we're on towards sustainable profitable growth and strengthening our balance sheet.
So uh whether it was um uh uh raising our guidance confirming uh uh the productivity gains coming through to the bottom line or even fact we're generating cash and paying down debt. Uh it was good that people understood uh and saw that coming through today. Josh at the same time reffranchising is part of this strategy.
Can you walk us through how that has impacted revenue at the same time what investors can expect from that moving forward? Yes, what we're doing is we are shifting the model increasingly towards capitalike growth expanding uh with franchise partners. Uh that naturally means that the absolute revenue comes down.
But what's really important to understand is the health of the brand. So uh we laid out today that we uh our goal is 2 to 4% uh growth in systemwide sales around the world. Uh the goal is to get north of2 billion dollars of sales uh by the end of the year and that's a great way of measuring progress and understanding that people are purchasing more donuts which is the primary goal.
Josh, we're also seeing the company eyeing stronger margins. Now you are a donut business. You have to deliver these donuts almost every day to about 7,000 locations in the US. You also at the same time have to make these donuts more efficiently at a time when we're seeing higher fuel costs, higher costs for ingredients.
How exactly do you work towards stronger margins? Yeah, we are in a dynamic macro environment for sure and we have seen inflation particularly recently tick up a bit as you reference. But one of the things that's been part a big part of our turnaround plan is bringing more ways bringing operational improvements particularly in the US to our model whether it's making or moving the donuts.
We even now have outsourced the delivery of the donuts to our customers to third parties. all ways of becoming more efficient and absorbing uh that inflation so that we were able uh to show the EBITDAR improvement that we've been seeing this year and uh reiterate our guidance on Ebidar today. From your perspective has what is the biggest challenges right now up against your key customer and have you had to pass along any sort of pricing?
Well, we're seeing quite sustained consumer demand, which is good in this what is obviously a dynamic environment. One of the areas we're seeing success is uh with our dozens business, our dozen donuts, even actual double dozens are up uh where people are taking advantage of promotions and discounts on that second dozen donuts to share and give to others.
Um, and so obviously value is important to our customer, but we're also seeing, interestingly, uh, those seasonal collections, special celebrations. We had a a Pokémon collection that was very popular. Halloween just last weekend was a success. So, also those special moments where people are are looking for joy and moments of joy in this in this tough world.
Uh, we we can play a role there. So, we're seeing growth on on on both sides really. We always see Pokemon collaborations do so well. Josh, what did that collaboration teach you? And and can we expect more collaborations like that? Well, uh we did a a collaboration last year with Harry Potter where we saw a lot of gamification interaction with the donuts.
We had a sorting hat donut. Then this year we saw something similar with the Pokémon donuts. We had collector's cups, different donuts that people could uh collect and there was a lot of buzz and energy particularly in social media around that. We think that is something that we're going to continue to bring to the market.
innovation where there's some fun about uh the the in the donuts and and which collection you can you can get your hands on. So, uh definitely that's something where we want to bring fun uh to to to our customers with. It seems like special occasions are really kind of Crispy Cream's DNA. Josh, what exactly can you what exactly are you seeing right now within what we saw within Halloween that maybe gives you more confidence heading into the holidays in this very dynamic backdrop?
Yeah, people are looking for moments uh with their families, with their friends. 80% of our donuts are sold uh for sharing. Would you believe it? About 40% are actually gift given as gifts to others. So, we just came out with our uh holiday seasonal collection, a hot cocoa donut, uh sugar cookie, caramel toffee cheesecake.
So, uh, these are all about tapping into the moments in people's lives that are relevant, uh, at this time of the year. Josh, I have to ask you because I was chatting with Papa John's CEO on a phone call yesterday and he told me that they have to continue to manage against some headwinds, one of those being carb centric and ultimately what they're seeing with the impact of GLP1.
So, what are you seeing in your business when it comes to GLP1's headwinds? I think what's important to understand with crispy cream is it's a relatively infrequent purchase for special occasions. I mean obviously uh people on GLP1s uh have lower appetites but what we find is people are looking for great tasting uh donuts uh high quality um usually to share and give to others um and when they're thinking like that um crispy cream is is well placed in this environment.
So, we think that's why uh the trend hasn't impacted us directly in the same way as it may have some others. A little sweet treat in this crazy environment right now. I hear that, Josh. I appreciate your time. Thank you so much. Josh Charlessworth, CEO of Crispy Cream. You bet. Thank you. And coming up, Qualcomm's CFO talks latest earnings and more.
That's next. Hey. Hey. Hey. Qualcomm is betting big on AI as it looks to expand beyond just smartphones. Yak Finance's Dan Hi spoke with Qualcomm CFO Akos Pakiwala about the company's earnings, its AI ambitions, and the outlook for chip demand. Let's take a listen to this. We're very happy with our earnings.
I think we came in line with uh with expectations on the results quarter and guided pretty much in line with uh what the street was expecting. I think largely this is a story of things playing out as we had outlined previously. uh if we if you look at the handset market it's uh it's definitely challenged in the current memory environment and we had already taken a conservative view of the market and it's playing out as uh we had expected.
Uh very excited about automotive. Uh it's a business that continues to grow faster than our expectations. uh we're seeing this tremendous demand from uh all of our OEM customers as they pack in more technology into their cars and as we go from our third generation to fifth generation solution. We're seeing an ax increase in content uh which is obviously great and it's showing up in our financials and then uh this is a big quarter as well for us from a data center perspective.
we guided to greater than 650 million in the December quarter on data center revenue and we expect to accelerate that to accelerate through the year and exit the year at uh a run rate of $7 billion. So excited we are executing on the plans that we had laid out and looking forward to uh more wins with additional customers.
Yeah, I got to say on the handset side you guys actually did better uh than the street estimates for the the prior quarter. Uh and it's obviously a difficult market right now. Um you know if you look at what happened with Intel and you know AMD talking about the PC side of things. I guess what what are you seeing with regards to that market?
Is is it the same kind of idea where you know the the memory prices are up. Uh that's the storage prices are up. People are looking at that and saying do I need to spend now on a smartphone? Do I need to spend now on a PC? Do I wait? all the memory makers are saying I don't know four years you know so I mean what are you seeing as far as that market goes and and and the outlook there when when do we start to turn the corner
yeah I think Dan we uh we saw the impact of memory on the smartphone market before other customers so we saw that happen in the June quarter uh we mentioned that we thought June quarter was the bottom quarter for China Android uh devices and we've seen since then we've seen growth in Android from going to June to September quarter and then into December quarter.
Uh so we're playing out very much as we had expected. We had taken a conservative view on the market and uh and that was the right thing to do. Uh we are monitoring this closely but no surprises as far as we are concerned. And on the automotive side you guys were up 89% year-over-year. I believe that uh what was was the figure.
That's right. Where did you see those wins? What what was the big kind of kind of pull there? Yeah, you know, at this point, uh, we are headed to becoming the most significant semiconductor supplier to the automotive industry. I think it's a it's a market that Qualcomm was really not even a material player a few years ago.
And we've scaled simply because of the importance of our technology. It's we deliver high performance at low power and uh great connectivity technology, great AI technology and that's what the car OEMs win want and that has driven uh the designment pipeline uh to $65 billion for us going forward. And so what you see is really an accelerated adoption of those capabilities.
I mean the the big thing that the OEMs are focused on right now is ADAS and and adding those uh to that capability to the cars, but we're also seeing adoption of AI within the digital cockpit within inside the car and being able to talk to your agent and have questions answered. Clearly car is a place where your hands are tied up and and it's a great place to have an agentic AI conversation with an agent.
So you're seeing that adoption happen very significantly in China, in Europe and in other with other OEMs as well. So Qualcomm is the beneficiary of that trend. I think we're at the very front end of that transformation and at that as that continues to evolve uh over the next several years, we'll see the benefit on our side.
I I want to get to data center. Uh but real quickly, you know, you mentioned agents. You guys are one of the the biggest makers, if not the if not the largest maker for chips that go into glasses. Uh that's, you know, a big market that uh is already blowing up for Meta. They were talking about at their Meta Connect having AI agents directly in glasses either through audio or being able to see them visually with uh their uh their their VR headset that they have.
Where do you see that market going at this point? You know, it's it seems as if the trajectory is is just up. Yeah, our view is that there's going to be a third personal device that emerges uh beyond the PC and the phone. And this device is going to be more personal than anything else. It's going to be on your person.
It's either uh it could be glasses, it could be a watch, it could be a pendant, it could be your earbuds, it could be in different form factors. But the common thing that ties uh the personal AI experience across these devices is it's a device that you can have an agentic AI conversation with. your agent sits on it.
Uh this agent can see what you can see. It can hear what you can hear and uh and Meta is one of our uh very important partners. Uh and and we are really innovating with them to deliver these new experiences. We think uh that's the next big transformation of AI is is agent sitting on all devices uh whether it's a personal device whether it's a work device whether it's uh a car device and in each case you are interacting with that device that a that agent and having having a conversation not just about asking questions about them but the agent is going to be proactive it's going to understand you it's going to learn about you and it's going to help you before you ask ask a question and so we're excited I We Qualcomm is going to be the lead enabler from a silicon perspective of this technology and and we're going to see it deployed across a whole variety of OEMs and devices.
And I just want to go over data center real quick. You discussed seeing that revenue in the December quarter and then moving forward into 2027 2028 uh and beyond. You guys have have launched your your data center offerings, your rack servers. you're on the uh uh the agentic side as well as uh the uh inferencing side with your your CPU offerings there and your networking offerings.
I guess what are you seeing as far as uptake goes and then just you know news of the day seeing the the market react the way it is to to AI you know do you see this as something kind of being uh an overreaction you know is is the the demand uh uh narrative still in in place and and does that continue forward
yeah so let me answer this in two parts first let me talk about Qualcomm strategy right uh this is uh this is a new area for us uh but what is happening in data centers is that they are evolving. Power is becoming more important. Efficient computing is becoming more important and the processing that happens in data center is getting disagregated from the GPU doing it all to different kinds of solutions depending on the workload that you're running through it.
So, uh it's a great time for us to enter the data center market. We are bringing uh our custom silicon capabilities, our CPU, our AI accelerator that's based on this innovative technology called high bandwidth compute and our networking technology. So we're coming in with a full full portfolio of products uh full portfolio of technologies and we're combining them into uh an overall rack scale solution that uh gives an alternative to these data center players who are looking for uh different vectors of performance uh especially as power becomes a big problem statement within data centers.
So excited about it. Uh the revenue is just starting. I think we have a very long way to go in terms of scaling the business. uh on revenue and and we have all the right ingredients to go do it. Uh Dan on your second question uh on what's uh kind of the conversation that is happening in the market right now our view is that from a demand perspective both on the consumer and the enterprise side the demand for tokens is going to continue to increase.
There is tremendous use cases that have been established that are being scaled uh that will require additional tokens and then really the question is how do you serve that market? How do you serve it through data center? How do you solve it through edge devices and Qualcomm has a place at both places.
So we're excited uh we will uh we'll be working with our partners to deliver solutions on both the edge and the cloud side. uh question just quickly on uh your licensing side. You know, you guys have that you've had that business for quite some time and it it you know is is a pretty stable business.
So, what do you see kind of succeeding there uh in the in the prior quarter and then going forward into the quarter ahead? Yeah, we had a a key milestone quarter I think on the licensing side. We extended our licenses with three major OEMs uh Apple, Huawei and Transient. And so this puts us really in a very stable position for that business.
uh we don't have a negotiation renegotiation coming up with any other OEM for the next several years and uh and it adds predictability to our revenue stream and this is a business that's going to go up based on incremental devices getting connected to the cloud and it ties in with the conversation we just had on these personal AI devices Dan that uh are all going to require cloud connectivity and to the extent that 4G 5G and then eventually 6G becomes a part of these devices is uh Qualcomm and our licensing business will benefit from that as well.
So, it's it's really not just about the chip side of the uh business. It's also all connected devices benefit our licensing business. And so, we're excited about what uh the licensing business will do in the future. All right. Akash Pakiwala, CFO of Qualcomm, thank you so much for joining us. Hey, nice to talk to you.
Thank you so much for having me. drops by to break down the latest quarter. That's next on Market Domination Overtime. Heat. Heat. Heat. Down. Take a deep What exactly we're watching this afternoon is something else as we make our way towards Friday, November 6. On the earnings front, we are getting a pulse on the healthc care sector.
Starting with Moderna reporting third quarter earnings before the market open. Analysts expecting revenue there of about $888 million for the quarter. What else we're watching tomorrow as far as MOA goes is investors will be watching for demand for its vaccines during the fall season along with sales of its flu and RS RSV vaccines.
Also in focus here are MOA's efforts to cut costs and its progress delivering cancer treatments as the company looks to expand beyond just co. Something else we're watching as well is Humanana. They're also reporting thirdarter results. Analysts there are expecting revenue of about $40 billion. It's also expecting a loss of just over $1 per share.
Now, a big question is whether rising medical costs are continuing to pressure profits. That's something else we're watching. And finally, you may not remember, but we are actually getting the October jobs report on Friday morning before market open. It comes out around 8:30 a.m. Eastern. Economists there forecasting the US economy to add about 65,000 jobs.
That's up from 29,000 added in September. Of course, we might get some revisions there as well. That's something to watch. But average hourly earnings are expected to rise 3/10en of a percent up from 1/10enth of a percent. While unemployment is expected to hold steady on a month- over-month basis at 4.2%.
And finally, tune in Friday, November 6, for an episode of Yahoo Finances Built Different with Ian Schwarzman. Ian is sitting down with the Joe Budden podcast host, Joe Buddton. And you don't want to miss it. And stay tuned. We'll talk to Elf Beauty CFL right after this break. Heat. Heat. Hey, hey, hey.
Heat. Heat. Down. Heat. Down. ELF Beauty blowing past Wall Street's expectations in its second quarter results, reporting a 51% increase in net sales. So, what exactly drove that? The company cited strong performance across its entire portfolio. Mandy Fields, ELF Beauty CFO, joins me now. Mandy, thanks for being with us.
Let's talk a little optimism in this market in this crazy market day. I want to start by innovation. It seems like that's what really is at the crux of this growth for ELF Beauty. So, where exactly is that coming from? What is working so well right now? Well, thank you so much for having me, Brooke.
I'm really excited to talk about E.L.F.'s 31st consecutive quarter of net sales growth as you mentioned 51% net sales growth it's really incredible and I would say really three things driving that definitely innovation innovation is one of the strengths that we have across ELF beauty and if I think about where we are in this latest cycle our fall innovation on ELF as an example we have five of the top 10 launches this fall season uh if you think about what we've done with road and the incredible products they have as well as with Ntorium.
I mean, innovation is certainly a strength in addition to our value proposition and our marketing. Mandy, you they gave a little hint in the earnings call. You said that they're they're fasttracking additional innovation ahead of the holidays. So, for investors and also customers alike, what exactly does that mean?
What can we expect? So, we talked earlier this year about fasttracking innovation, listening to our community, which is really a strength of ours, and bringing those items to life. So, you're already starting to see some of those hit the market. Um, our peel of approval, um, lip peel, and I think you've probably seen these things across social media where you kind of put it on and you can peel it off and your lips are perfectly lined.
We just launched that just, um, maybe last week or so. Um, and we have more coming because that's that's the beauty of what we do. We listen to our community. Zero distance between us and and what they're asking for. And so, we try to bring it to market as quickly as we can. The acquisition of Haley Bieber's brand Road though continues to do so well for E.L.F.
Beauty. How exactly do you sustain the momentum that you're getting from that premium brand? Oh my. Well, yeah, I tell you, Road is just an exceptional brand, and we're so proud of what we're building with with Haley and and the team. When we think about what we've built with road, I mean we just launched in Sephora across Europe in 19 countries uh at the end of September and it was the best launch Sephora has ever seen.
And to put that into context, Sephora has seen a lot of brands launch um and for Road to be the number one launch um across Europe and the number two launch uh was our launch across North America with Road in Sephora. And so really a lot of strength there and it it speaks to just the incredible demand for that brand.
75% of roads following is outside of the US. So a real opportunity from a global perspective as well. Investors are also pretty optimistic about what you see as additional opportunity here in North America. What sort of opportunity does that look like? We have opportunity across our brand portfolio.
Even still in North America, if I think about the ELF brand, you know, our our most developed relationship is with Target where we have over 20% share. Certainly think there's an opportunity for us to continue to build across our retailers to to get to that same level of share over time. Uh if I think about Notorium, you know, we have doubled that brand since we acquired it back in 2023.
A lot more white space ahead here in North America. And certainly with Road Road, we've had such incredible momentum with Sephora in North America. A lot more to come there. Mindy, would you say that we're in this environment where people are taking advantage of little luxuries? We saw the Sephora sale.
We don't know exactly what the numbers are yet from that, but going on stale, but is that sort of environment happening? Is that holding on as we make our way into the holiday season? Well, I think, you know, it speaks to the durability of the beauty category. If you look over the longer arc, just look over the last 20 years, beauty has been a consistently growing category.
And it is one where you can treat yourself. It's not like a trip or a big uh purchase that you have to save up for. You can take your $20 and take it to your local drugstore or to your local Sephora and really treat yourself. And so, yes, I think that is going to be something that we continue to see into holiday.
Really quickly, Tik Tok, Amazon Shop or Amazon and Tik Tok Shop are two growth drivers, two places that more and more customers are going for. How does that customer shop differently? Well, look, we want to be wherever our consumers are shopping and Amazon, Tik Tok shop, what we call the connected commerce universe.
It's certainly a place where they're showing up more and more. And so, we want to make sure that that we're there and available for them. And they're just looking for the best of beauty. And that's what we do best at E.L.F., We make the best of beauty accessible to every eye, lip, and face. Mandy Field, ELF Beauty CFO.
Thank you so much for joining us. I really appreciate it. Thanks, Brooke. Of course. And that is a wrap on today's show. Thanks so much for watching. Don't forget, Jobs Report out tomorrow after today's crazy market selloff. Hey, hey, hey. Hey, hey, hey. Heat. Heat.
댓글 0