For some reason, they don’t broadcast Fox Business here in the FT newsroom. Our loss.
So on Friday, we missed this, when things got all flustered in the Fox Business studio. Anchor Alexis Glick eagerly reported that Apple had taken an 8 per cent stake in computer chip manufacturer AMD.
But alas it wasn’t so. There’d been a mix-up between Apple and Abu. Easily done.
And once that was straightened out, it was only a hop, skip and a jump to Abu Dubai, wherever that may be. Although the transcript is below, for the real thing - watch here.
ALEXIS GLICK: There’s some news coming across the tape right now. We’re seeing from Wall Street Journal that Apple is buying an 8 percent stake in AMD.
In comes Peter. Bit of background:
PETER BARNES: The big chip maker, yup. And AMD and Intel battle back and forth, and so this is a very significant statement by Apple, Charles and Liz, is it not, that it’s going to buy in to AMD, pick one of the two?
Indeed it is a very significant statement. Only it’s not true. No matter - now out on the line, it’s Charlie, telling us just what a great idea this deal is:
CHARLES PAYNE: Well, yeah, and AMD needs, uh - that’s real smart by Apple because AMD is in trouble right now. AMD has always had two problems: either it had a great product that was either sometimes superior to Intel but not the distribution, or it would have a terrible product that obviously they couldn’t compete. And they’re sort of in the middle right now - they haven’t had great product offerings per se recently, the stock has been really just sort of muddling along. So I gotta tell you, Peter, I think it’s a smart play by both companies to get involved with each other.
Well actually Charles, Peter’s got something to tell you. Awkward silence.
BARNES: “And we are getting some more news [inaudible]”
GLICK: “That, oh, it’s not Apple. Let me just correct ourselves here. It is not Apple. Alright, I’m sorry, we got a little ahead of ourselves here on that. Um, Apple Dubai?
Of course! Apple Dubai! For all the Fox viewers at home, that’s the Wahabbist arm of the Jobs empire. Oh wait - dawning realisation:
GLICK: Oh… Abu Dubai.
Nope, wrong again. Maybe Abu Dhabi? Emergency measures here, Barnes knows they need to close this down. Go wide.
BARNES: Oh, the err, the Arabs. Ok.
Good, good.
Couldn’t last though, mid morning and Fox was still reporting a stakebuilding exercise in AMD from Abu Dubai.
