Google Rises; Arm, Qualcomm Fall After Earnings

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The Stock Movers report, your roundup of companies making moves in the stock market, harnessing the power of Bloomberg Data.

I'm Carol Masser along with Tim Stenwick. Let's get to those stocks on the move as we speak. And joining us right now is Bloomberg News crossuset reporter Isabelle the We're going to get to Alphabet in a moment, but let's start.

With the ARM.

We gut start with ARM.

Actually we're very spoiled with choices today, so armshars. They tumbled in late trading. Actually they're down. Oh now they're unchanged.

Everything's bouncing around a lot.

I want to make sure I get this right. No, my terminal lag.

Three.

Yeah, there is.

But there was a move higher in the after hours to make them like.

It could have been an individual trade or something.

But unchanged. Yes, And then but now they're down bad.

They tumbled because the company reported sales forecasts that disappointed and investors who have grown more skeptical of companies that are really tight to AI. So anything AI now is a little bit scary to some investors. The stock has dropped already more than four percent through Wednesday's close. So again, this negative reaction reflects just the high bar that investors are looking for when it comes to companies in the

What everybody says early, early, more to come, more to come until it's late.

My question, which takes us to Alphabet, which has been bouncing around in the aftermarket.

We can get to the trade in just a moment.

But speaking of the build out and the spend, that number blew away the street estimate.

It definitely blew away the street estimates, and they told investors they're planning to spend far more than investors expected this year. At the stock is up by two point seven percent. They're actually the best performing Magnificent seven stock, though it slipped off its peak.

But look at that Alphabet, Isabeth, but it.

Was down as you keep it earlier, but you know it was moving. That was a knee jerk reaction.

Now the call when we're talking about this, the call is ongoing, so in after hours is always a little like you know, that is true, you kind of have to wait till the market.

That's quite a swing.

You're talking about down seven percent and it up what more than Where are we at right now?

It's up too and a half percent? Yeah, if I'm looking at it correct, Yeah, that's right. So the company has really quickly improved their Gemini model and integrated it throughout its products. I feel like maybe Chat GPT, or at least among my circles, still remains the king, but people are increasingly liking Gemini.

Do you you're using other stuff right?

Yeah?

So I was like early, not early, but I was using Chat GPT. Then I started using Claude. And I don't pay for any of them.

Oh yeah, I don't even sign anyone because I want to have my data.

And uh, I like, if you use up, you know, in a day or in a time period, Chat, GPT or Claude, then you can then you just go to Google and you can use Google Search. But Mandeep was here telling us that you can bundle Gemini in Google one services. So if you pay for other Google services you can then get Gemini is a standalone app, and that LLLM is different from the experience that I get using AI in Google Search.

That's I didn't know that that's something I should try.

So when Google gives that number about how many people are using Gemini fourth quarter Gemini app monthly active users seven hundred and fifty million versus six hundred and fifty million quarter over quarter, that's the standalone Gemini app.

Oh wow, So that's a lot of people.

A big win also is that they will be the provider of AI for THEORI on Apple's iPhone, So I mean imagine like your default will be that.

Well, that's what Mandy've talked about.

You know.

Apple is so relying on alphabet Google specifically for their AI play, which is pretty wild.

But that means you have a massive customer, right who can tap into automatic one. Yeah, yeah, big one.

Twenty million autonomous trips in December for Weimo. That one's for Carol.

Let me bring it on, bring it.

I never been on one.

Oh my god, you don't actually baked out? Do you like going to the spa?

Yes?

Okay, You're gonna love a weymo because especially if you go for like a good twenty minute or twenty five minute trip, which I have done.

I mean I actually closed.

My eyes to go all around all the areas.

I was going to the airport, but I mean I actually closed my eyes. It was so relaxed.

Okay, I do feel bad because sometimes you know you're just not having it that day, but then you feel bad, especially if the car service driver, whether it's at lift or uber, is.

Trying to be nice to you, and I'm like, sir.

It's not you, it's me, But really, I just had a bad day. You have to break up with it.

Yeah, I know, I see that. People.

Let's go to Qualcom also after the close, this one.

Is down bad, also down by seven and a half percent. Earlier when I checked, it was down nine percent. So Qualcum is the largest maker of smart smartphone processors, and they gave lack less revenue forecast. So again this ra is concerned that component shortages will hurt consumer demand by driving prices up. I feel like we always talk about this, Carol like, yeah, there is a lot of demand, and

The 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 dot com, and on Applecarplay and Android Auto with the Bloomberg Business app.