Squawk on the Street SOTS 2nd Hour: Apollo's Chief Economist, "Why The Fed Shouldn't Cut", and EchoStar Shares Lift-Off 9/8/25
Sep 8, 2025
In this lively discussion, Torsten Slock, Chief Economist at Apollo Global Management, shares his insights on inflation and AI adoption's transformative impact on the economy. Joining him is Rooshir Sharma, Chairman of Rockefeller International, who delves into the ramifications of the Federal Reserve's easy monetary policy. The conversation explores concerns about the Fed's credibility amidst political pressures and the significant trends shaping the tech sector, particularly in relation to Apple's innovations and telecom dynamics.
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AI Adoption Showing Early Slowdown At Large Firms
- Apollo's census shows AI adoption among large companies has recently slowed.
- Slowing AI uptake at big firms raises concerns about concentration and lofty AI-driven valuations.
S&P Concentration Raises Diversification Question
- Torsten warns AI's transformative potential doesn't justify extreme concentration in a handful of mega-cap stocks.
- The top 10 S&P names now account for about 40% of the index, a dangerously high concentration.
Apple Could See Renewed iPhone Growth
- Mellius Research is bullish on Apple and expects iPhone unit and ASP growth could reignite the stock.
- New models and higher-priced variants may start a multi-year growth cycle for iPhone revenue.