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Top stories today:
- MacBook Pro lineup updated by Apple with M4 chips
- Microsoft Cloud helps boost quarterly revenue +16% YoY to $65.6B
- Meta falls short on user growth, CAPEX grows faster than net income
- GDP increases at 2.8% ahead of president election
- FTXās Nishad Singh gets no jail time for role in crypto fraud
0. Data and calendar
All values as of 6 AM ET / 3 AM PT, other than S&P500 and NASDAQ close (4 PM ET / 1 PM PT).
All times are ET.
Listen to our AI-generated podcast summarizing todayās newsletter (beware the few hallucinations):
1. MacBook Pro lineup updated by Apple with M4 chips
M4, M4 Pro, and M4 Max options.
12MP Center Stage camera.
Thunderbolt 5 on the M4 Max models for faster data transfers.
Nano-texture display option.
Nov. 8: shipments will start in the U.S. and other initial markets.
$1,599 starting price for the 14-inch MacBook Pro M4 and $2,499 for the 16-inch one.
Apple has launched the M4 Max as its top-end chip with a 16-core CPU, up to 40-core GPU, and up to 128GB RAM
Additionally, Apple has made 16GB RAM as the base option for the MacBook Air M2 and M3 models
Pricing unchanged, starting at $999.
2. Microsoft Cloud helps boost quarterly revenue +16% YoY to $65.6B, operating income +14% to $30.6B
+20% YoY in Microsoftās cloud revenue in Q1 FY25 to $24.1B.
āAI business on track to surpass an annual revenue run rate of $10B next quarter,ā Microsoft CEO Satya Nadella said during its earnings call.
Microsoft partially attributed its $683M equity investment expenses in Q1 to OpenAI stake losses
$1.5B impact on income is expected in this quarter, mainly due to OpenAIās ongoing losses.
$13B in total funding commitments to OpenAI, Microsoft disclosed in its filing.
Microsoftās stock was -3.7% to $416.41 ($3.21T market cap) in trading after the bell on weak guidance
$68.1Bā$69.1B revenue, +10.6% growth, estimated for the current quarter, vs. $69.8B analysts expected.
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4. Meta falls short on user growth, CAPEX grows faster than net income
+5% YoY in Q3 DAUs to 3.29B but below estimates of 3.31B:
