Nasdaq Falls on Big Tech Weakness | Closing Bell

Watch on YouTube ↗  |  January 29, 2026 at 22:33  |  10:29  |  Bloomberg Markets
Speakers
Angelo Zino — Senior Equity Analyst, CFRA Research
Carol Massar — Anchor, Bloomberg
Katie Greifeld — Anchor, Bloomberg
Romaine Bostick — Anchor, Bloomberg

Summary

U.S. equities closed mixed, with the S&P 500 down 0.1%, the Nasdaq off 0.7%, and the Dow roughly flat as Big Tech weakness weighed on the tape. After the bell, investors focused on earnings from Apple, Visa, Deckers, SanDisk, KLA and Western Digital, while Microsoft suffered its worst day since 2020. Meta, Southwest, and cruise stocks rallied, and rising memory prices created both an AI-storage tailwind for Western Digital/SanDisk and a potential cost headwind for Apple.

  • S&P 500 slipped 0.1%, Nasdaq fell 0.7%, Dow was little changed.
  • Microsoft dropped 10% on record spending and slowing cloud growth concerns.
  • Meta and Southwest were standout gainers after strong results and outlooks.
  • Cruise stocks rallied as Royal Caribbean eased demand concerns.
  • Memory/storage names Western Digital and SanDisk rose on AI demand and pricing.
  • Apple's upcoming earnings were framed as a watch item due to memory cost pressure.
  • Analyst recommended buying the Microsoft dip, calling valuation compelling.
  • After-hours earnings included Visa, Deckers, KLA, SanDisk and Western Digital.
Ideas
Carol Massar Anchor, Bloomberg 2:55
Meta outlook offsets AI spending.
Meta beat on EPS and sales and gave a stronger-than-expected revenue outlook that helped offset the impact of higher AI-related spending, with the stock up 10% and investors reacting positively.
META MED
Carol Massar Anchor, Bloomberg 3:32
Southwest turnaround gains traction.
Southwest topped analyst estimates, signaling progress in its turnaround after a challenging year as it adds premium options and moves to assigned seating; the stock jumped 19%.
LUV MED
Carol Massar Anchor, Bloomberg 5:48
Cruise demand accelerating; buy cruise lines.
Royal Caribbean's fourth-quarter results eased concerns about cruise demand, with the company saying cruise demand keeps accelerating and potentially adding as many as six ships; Norwegian and Carnival also rallied.
RCL NCLH CCL MED
Angelo Zino Senior Equity Analyst, CFRA Research 6:42
Buy Microsoft dip; valuation compelling.
Recommends buying the dip in Microsoft after its worst day since 2020, arguing the valuation is compelling and concerns about Azure growth and concentration risk are overblown; he remains bullish on the stock.
MSFT MED
Katie Greifeld Anchor, Bloomberg 6:59
Deckers beats and raises guidance.
Deckers beat third-quarter net sales and EPS estimates, raised its full-year net sales outlook, and shares rose after hours, providing needed good news after a terrible 2025.
DECK MED
Romaine Bostick Anchor, Bloomberg 8:29
Memory pricing lifts WDC and SanDisk.
Western Digital and SanDisk are benefiting from AI-driven storage demand and record-high memory chip prices; Western Digital beat on EPS and gave third-quarter guidance well above Street estimates, while SanDisk posted a revenue beat and rose in after-hours trading.
WDC SNDK MED
Romaine Bostick Anchor, Bloomberg 9:27
Apple faces memory cost pressure.
Apple is a watch item into earnings because rising memory-chip prices, which are lifting SanDisk and Western Digital, may become a cost drag for Apple devices even as the company is expected to announce AI progress.
AAPL MED
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This Bloomberg Markets video, published January 29, 2026, features Carol Massar, Angelo Zino, Katie Greifeld, Romaine Bostick discussing META, LUV, RCL, NCLH, CCL, MSFT, DECK, WDC, SNDK, AAPL. 7 trade ideas extracted by AI with direction and confidence scoring.

Speakers: Carol Massar, Angelo Zino, Katie Greifeld, Romaine Bostick  · Tickers: META, LUV, RCL, NCLH, CCL, MSFT, DECK, WDC, SNDK, AAPL