SOTS 2nd Hour: Where Markets Stand, Apple's Earnings Gains, & Is It Finally Time To Touch Software? 5/1/26
Squawk on the Street
- Published
- May 1, 2026
- Duration
- 43:03
- Summary source
- description
- Last updated
- May 1, 2026
Discusses anthropic, investing.
Summary
A huge week for markets - spanning earnings, a Fed decision, and stocks hitting fresh highs: Carl Quintanilla and Sara Eisen broke down where things stand after all the reports before discussing whether the rally has legs with longtime market veteran Jeremy Siegel. Plus: a deep-dive on Apple's new numbers with one of the street's top analysts... and more …
S&P and Nasdaq cap their best month since 2020 as earnings surge, Fed hawks signal possible rate hikes, Apple nears record highs, and Anthropic eyes a $900B valuation.
Key takeaways
- Anthropic's ARR surged from $9B to $30B in under four months of 2025, with investor Byron Dieter arguing the reported $900B valuation is actually the cheapest entry point on a revenue-multiple basis given ~1,000% YoY growth.
- Fed dissenters Logan, Hammack, and Kashkari are signaling the next rate move could be a hike rather than a cut, with Kashkari explicitly warning that a prolonged Strait of Hormuz closure could warrant multiple rate increases even at the cost of labor market weakness.
- S&P 500 earnings growth expectations for 2025 have risen from 14% in October to nearly 23% by May 1, driven heavily by six companies—SanDisk, Broadcom, Micron, Nvidia, Exxon, and Chevron—accounting for ~70% of the upward revisions.
Why this matters
The convergence of hawkish Fed dissent, supply-constrained AI infrastructure spending by hyperscalers, and concentrated earnings growth in semiconductors and energy signals that B2B investors must reassess both rate-path assumptions and portfolio concentration risk heading into the second half of 2025.
Entities
Show notes
A huge week for markets - spanning earnings, a Fed decision, and stocks hitting fresh highs: Carl Quintanilla and Sara Eisen broke down where things stand after all the reports before discussing whether the rally has legs with longtime market veteran Jeremy Siegel. Plus: a deep-dive on Apple's new numbers with one of the street's top analysts... and more on the state of play when it comes to AI according to an anthropic and software investor. Elsewhere this hour: the latest from Omaha ahead of B
Themes
- anthropic
- investing