Wedbush Securities’ Dan Ives discusses earnings from Alphabet and Tesla, and his view that Apple needs to make aggressive AI moves to catch up with Google.
Elon Musk warned of difficult times ahead for Tesla, saying the company will be in a transition period for the next year or more. Musk said Tesla will probably have a few rough quarters, but expects the company’s economics to be very compelling by the end of next year once autonomy is achieved at scale. Tesla earnings missed estimates, with revenue falling 12% to $22.5 billion, the steepest decline since 2012.
Alphabet Inc. said demand for artificial intelligence products boosted quarterly sales, and now requires an extreme increase in capital spending. Chief Executive Officer Sundar Pichai said “Our AI infrastructure investments are crucial to meeting the growth in demand from cloud customers.”
Ives speaks with Tom Keene and Paul Sweeney on Bloomberg Surveillance. (Source: Bloomberg)
www.bloomberg.com
#Tesla #Braces #Rough #Quarters #Alphabet #Boosted
