9AM Hour: Amazon Surges and Apple Sinks, Chevron CEO "First on CNBC," Aschenbrenner Update 7/31/26

Key takeaways

Amazon's cloud business, AWS, is experiencing rapid growth and is central to market confidence in tech.
Apple faces severe supply chain constraints, particularly chip shortages, which impact its revenue growth despite strong demand.
Chevron's strategic investments and disciplined financial management have led to its highest quarterly profit in six years.
Hedge fund activities and situational awareness significantly influence stock movements and market stability.
Technological breakthroughs in AI and quantum computing are progressing rapidly, with potential to impact crypto, data, and broader industries.

Summary

Tech Earnings and Market Highlights

This section covers the major tech earnings reports from Amazon, Apple, and others, highlighting Amazon's surge driven by cloud growth and Apple's struggle with supply constraints and guidance disappointment. It discusses how Amazon's AWS is on a record-breaking run, and the complexities behind Apple's inability to meet chip demand, leading to a 'hundred-year flood' analogy illustrating the severity of the chip shortage. The discussion emphasizes the impact these earnings have on broader market sentiment and the tech sector's outlook.

Chevron's Strong Performance and Strategic Initiatives

Chevron CEO Mike Wirth joins to discuss the company's record quarterly profit and strategic focus on debt reduction, buybacks, and dividend stability. The conversation highlights Chevron's strong upstream and downstream performance, investments in Venezuela's oil reserves, and innovative energy projects like a large-scale power purchase agreement with Microsoft supporting AI growth. The segment underscores Chevron's financial discipline and pursuit of high-quality assets for sustained future growth.

Market Movements and Investor Behavior

This section reviews recent market movements, including the unwinding of hedge fund trades, the impact of situational awareness on stocks, and notable rebounds in stocks like Micron, AMD, and others. It discusses the influence of hedge fund activities, margin calls, and the shifting sentiment among investors, with a focus on how trading dynamics affect stock prices and market stability. The tone conveys a mix of caution and optimism about upcoming market developments.

AI, Quantum Computing, and Technological Advances

The discussion touches on advancements in AI and quantum computing, featuring insights from IBM's Arvin Krishna and others. It covers recent breakthroughs in solving complex equations, the potential for quantum technology to revolutionize fields like crypto and data analysis, and the implications for the future. The segment emphasizes the rapid pace of technological innovation and its transformative potential across industries.

Market Analysis, Key Data, and Final Thoughts

The final section provides updates on macroeconomic indicators such as the Chicago PMI, oil prices, and interest rates, with insights from Rick Santelli. It reflects on recent market swings, investor sentiment, and economic confidence, tying together the themes of corporate earnings, technological progress, and macroeconomic factors. The discussion encapsulates the current market landscape, emphasizing vigilance and strategic awareness for investors.

Show notes

David Faber and Jim Cramer led off the show with reaction to the latest mega-tech earnings: Amazon shares surged on quarterly results boosted by cloud growth, while Apple shares sank on guidance that disappointed investors — and overshadowed a Q3 beat in Tim Cook's final earnings report as Apple CEO. Chevron CEO Mike Wirth joined the program to discuss oil prices and his company's biggest quarterly profit in at least six years. Also in focus: David's update on AI investor Leopold Aschenbrenner and the unwinding of many of his hedge fund's trades, the high-flying stocks that took a major hit in July, Samsung and SK Hynix shares soar and propel South Korea's Kospi to an 18% gain, Microsoft's record-breaking one-day market cap gain.

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