for example, the apple iphone only works with apple pay. it limits what is known as the nfc chip so it only works with apple pay's financial services product. it could work with lots of other things. that is one thing the justice department has taken a look at. a couple weeks ago we heard about beeper. pple has now disabled i message from working with this app that combines messages from lots of different communication apps and devices. these are the things the justice department has honed in on with apple. ed: the justice department and particularly apple -- specifically apple -- did not comment on the story or declined to comment. my understanding was the justice department was looking at apple going back to 2019. these things are always "read between the lines." tell us where the investigation stands and the thinking of senior officials at the doj as you have it from sources. leah: there is an election in november and the justice department is reluctant to file cases too close to the election because the dude i want to have it seem polit

apple one most of the lawsuit area apple one in the sense they were not a designated monopoly but thereas one thing they lost on that was known as the steering division. the idea were the judge ruled that apple allowed developers to include a button and their application to point users external to the app store to complete their transactions. it's a big deal because primarily applications downloaded through the app store to the iphone and ipad have to use apples in app billing system. that takes between 15 and 30% cut. the majority of apple services likely comes from transactions and inapt purges purchases and made for the app store. apple had been appealing that for this last several months up to the supreme court. epic had been appealing their losses in that initial trial in california to the supreme court. today, the supreme court decided they will not favor either side which means epic will not get what they want, they want apple to open up the app store and they want them to be designated as an antitrust violator and a monopoly but apples my getting what they want, their appeal has

foxconn, which does all apple's manufacturing, apple hasn't manufactured a thing since 200a.. apple's value is 3 trillion. 60 times. why? because manufacturing is not that profitable any more. so what india is trying to do, climb up the ladder that way, we think is a task which would have been better done 20 years ago. it's a little late to do this. yes, if they come, if manufacturers want a site in india because it is a china plus one strategy, great. back to subsidise them heavily to do that with the hope that they will stay in india, you're essentially trying to create profits for manufacturers. the modi government, of course, has been spending billions of dollars in subsidising companies like apple, foxconn, chip—makers, for instance. when you think that money can be more optimally used for better economic outcomes. the deal india signed, which is that india signed, which is that india is going to subsidise the micron factory 2.7 billion in investments, 2 billion of which will come from the indian government. no equity, no nothing. we arejust government. no equity, no not

if an apple falls from a tree and lies there for a couple. in it , a deer eats an apple with pleasurele sits a little longer, then the deer, which, unlike you, is far from a runaway deer, from the point of view of decision-making , will not eat the rotten apple, here is a boar a rotten apple loves it very much, eats it with great, great pleasure, and if the apple sits there even longer, then the boar will not eat the completely rotten apple, because the boar is not a fool, but when the apple, just like your runaway one , completely rots, they will. .. they are well versed in telegrams and instagram, but this is not life, this is its illusion, but unfortunately they find an audience for themselves, not the most numerous, of course, and to put it mildly, but nevertheless, they are quite clever young children, here after all, they read such nonsense, believe in it, and then they will believe it when they are told something political and are called to go out somewhere to protest, what can be done with them, one can say, very rudely, harshly punish those who have broken the law, they are v

goliath battle with apple? already -- all right, both boeing and apple putting quite a chill on the dow heat map. it's separated with nike, chevron and walgreens boots alliance, but boeing and apple lowest five here. pan up to the leaders, and you've got walt disney up 2.5%, verizon up 2%. home depot, microsoft, visa and, yeah, goldman has nearly lost all of the gains. it was in the number three pole position, now it's just about a flat after the investment bank beat on both the top and bottom line estimates for the fourth quarter. if ceo david solomon, no doubt, breathing a sigh of relief as earnings rose 51% year-over-year. solomon says he's optimistic that potential for interest rate cuts by the fed this year has renewed optimism for a soft landing. but tell that to the 10-year yield. folks, look at this chart right now. the 10-year yield is at 4.057%, high of the session, 4.08%. nonetheless, it's above 4% after fed governor christopher waller jawboned down rate cut hopes during a d.c. speech saying any move

they also downgraded apple. that's having an impact on european chipmakers as well and other designers, chipmakers, all coming under selling pressure. you see asml perhaps the most famous one in the netherlands down 2.1%. and they're grappling with export restrictions when it comes to china. others down a similar 2.5%. decisively a risk-off tone with tech and others. >>> a lot to follow over there. our yojoumanna bercetche. great to see you as always. >>> turning back to wall street. we need to get a better idea with the thinking when the minutes come in from december. as many as seven cuts by the fed this year. goldman sachs and bank of america expect the cuts to begin in march. jpmorgan sees five quarter point moves but he sees it in june. jonathan pringle from u.p.s. expects the fed to bring rates down by december. but one noted investor thinks the market is being too aggressive. steve ieisman the cnbc may only cut one time in 2024. >> even if inflation comes in. if i'm the fed and i'm looking at the volker l

phil schiller, the apple and executive _ time. phil schiller, the apple and executive who _ time.hiller, the apple and executive who is in - time. phil schiller, the apple i and executive who is in control of the store, did say this was the best solution. particularly when it came to protecting privacy and also those security threats of users. does it bring an increased risk of security. i think apple, for a long time, has obviously prided itself that it's close ecosystem is the best way to achieve that security and privacy and generally good experience that consumers have had up until now. i think they have made it very clear that they are not at all happy with what has been proposed as part of the dma and they see this as a route to increased malware, as zoe was saying, and also scams and impersonations. so they have made it clear that they have tried to the best they can by putting in place different sort of requirements, but they are saying they can't take away all of that was entirely because they would lose that control. i guess we need to see the reaction from the other dev

we are going to talk about apple. it is off to a rough start to the year after barclays cut its rating. we had a stock down more than 3.5% hitting its lowest level since late last year. since september. worst day it has been having. we'll talk more about that after a tremendous really last year. this is bloomberg. ♪ - super excited to open up my diploma from southern new hampshire university. ♪ ♪ - i'm nervous, i'm excited. ♪ ♪ - [man] okay, let's see it. let's see it. - oh my gosh. - jesus suarez, i did it and it's here. (group cheers) ♪ ♪ - [narrator] next term starts soon. visit snhu.edu. visit snhu.edu. jon: this is bloomberg markets. time now for our stock of the hour segment tiered apple shares over today after barclays cut its rating on the company to the equivalent of a cell. barclays is concerned about life on demand while suggesting this year's iphone 16 may not have enough new bells and whistles to further boost the stock, which had a really big year last year, advancing 50%. mark gurman covers apple and jo

f ., apple? so, it's daunting in that respect _ apple? that respect but _ apple? so, it's daunting in that respect but the - apple? so, it's daunting in that respect but the case l apple? so, it's daunting in| that respect but the case is apple? so, it's daunting in i that respect but the case is a good case and there are so many million people involved, i'm enthusiastic about this, you have to be otherwise you would never start. have to be otherwise you would never start-— never start. here in the uk, consumers _ never start. here in the uk, consumers will _ never start. here in the uk, consumers will have - never start. here in the uk, consumers will have to - never start. here in the uk, consumers will have to wait | never start. here in the uk, - consumers will have to wait and see if they get the similar pay—out. all batteries live power over time, apple says the iphone power is good for 500 charges, that's going from zero to 100%. in 20% charge is half a cycle. there are power saving tips like dimming the scream in limiting apt func

certainly, it is a risk to bet against apple.to come out of numbers that could surprise the street. ed: is your performance in 2023 would speak to that argument -- the performance in 2023 what is going that argument. apple is facing a ban w on imports of itsathes. overcoming a patent infringement. keeping apple watches off of shelves during the holidays. and a knology litigator, his practice focuses on high-tech intellectual property international trade competition. there are some avenues they can go down on a fixed, and deadlines coming up, and the first instance it was a wild holiday period where apple seemed to rely on procedural wrangling to push back against the original decision. that was two months ago? >> that is right. thank you for having me. as someone who practices in the international trade commission quite a bit this has been an interesting case to follow. what it shows is when companies like apple are facing a potential import bans, they can actually consider during the lawsuit making changes to their product desig

apple, nvidia. if you look at the street, they basically said, this was an all-clear for a new multi-year cycle of essentially semi growth, with tsmc at the leading edge of being a data enabler. people think they are in kind of the generic commoditized world of chips, they're really not. and there's a high margin part of their business, so back to the multiple, you know, depending on what you're looking. i agree, semis trade at an astronomical multiple, relative to the market. and to themselves, but taiwan semi trades at a 32% discount to the stocks. so, it's seemingly a must-have stock, if you are going to be positioned in this part. whether this is the time to do it, we've had different points in the last year and a half where a taiwan semi earnings announcement has been a very important, you know, moment to look at the entire industry and to look at tech spending and to look at i.t. overall and this is one of those numbers. i'll let dan speak about it, there could be some caution. >> good handoff

, ., ., apple? it is daunting in that resect apple? it is daunting in that respect but _ apple?nting in that respect but the _ apple? it is daunting in that respect but the case - apple? it is daunting in that respect but the case is - apple? it is daunting in that respect but the case is a - apple? it is daunting in that l respect but the case is a good case and there are so many million people involved that i am enthusiastic about this. you have to be, otherwise you would never start. have to be, otherwise you would never start-— never start. here in the united kinudom never start. here in the united kingdom consumers _ never start. here in the united kingdom consumers will- never start. here in the united kingdom consumers will have l never start. here in the united | kingdom consumers will have to wait to see if they get a similar pay—out. all batteries lose power over time and apple says the iphone battery is good for 500 charges, going from zero to 100%. the 50% charge is half a cycle. there are power saving tips like dimming the screen and limiting app functions but ultim

shares of apple up .50%.ade from boa over the headset. >>> time for the "wex wrap-up." we start off with walmart announcing a pay increase for the store managers. starting on february 1st, managers who hit all targets will see bonuses account for up to 200% increase of the base salary. >>> basf report ing a slump in earnings offsetting cost cuts. the company announcing shutdowns in the chemicals division and reduction in investments by $4 billion. >>> birkenstock with a loss of $31 million. the german shoe brand warning profit margins could take a hit as it scales up the business. >>> spirit airlines fell 7% yesterday. shares did creep higher this morning after the company refuted a report yesterday that it is planning to explore restructuring options with advisers. >>> irobot moving in the opposite direction saying the eu regulator plans to block amazon's acquisition of the company ahead of the deadline. >>> and macy's will close five mall locations. it will impact 2,000 positions across corporate offices an

katie: some of those bullish narratives for apple do materialize, so goes apple, so goes the market. see that time and time again. anything about the final two months of 2020 three, at least in the u.s. you did see that broadening out and you did see the market continue to perform well. what are you hearing in terms of how sustainable that broadening out is, and is that the complexion of this equity market people are expecting for 2024? sofia: a lot rests on two things mark mentioned. one is the earnings season. netflix really kicks that off on january 23, and then apple is at the beginning of february. is a lot for these companies to prove. if you look broadly at the macro picture going into 2024, what people are expecting is anemic gdp growth. if there is not that much growth around investors will be looking for where they can find growth in the equity market. for apple that means the iphone. for netflix that means subscribers. for microsoft that means the cloud. the risk is that they can be punished by the equity market quite severely. there is a disconnect between valuations and

stuff and apple doesn't have any of that. and so, to me, if you were playing a little bit of a would you rather -- >> apparently we're doing that on the first day of the year, mel. just observing. >> but i think at some point, microsoft overtakes apple this year in market cap and never looks back, because they have the tailwind, their ability -- this a 68% gross margin company versus apple, 50% of the revenue comes from hardware. so, whatever microsoft is able to do, right, it -- with their openai access and inte grating it into their productivity tools, the gen a.i. stuff, it reason accretive to margin. >> that's why there doesn't have to be a mag seven. guy -- that's not what i'm about to do. you're saying it's good for markets, if we are getting discrimination between these stocks. and why this is also not just a market story and an apple story, they are citing market share loss. so, they're talking about -- they are actually losing ground in the u.s., we know they're losing ground in china. india, which is supposed to be

for storage, without damage, that is , we leave such apples for processing, a small apple was picked harvest requires attentive skills, it is important. notice that it is not in good condition, it will go to the enterprise, there it will turn into puree, one into a bucket, the other for testing, so red, simple, tasty, quietly the presenter collected the first bucket, and pull the bucket a little, no-no-no, here, here so, pull it off, pull it back, like this, well, not bad, learns quickly, well done, you need a desire for any job. amazing people of our country, i noticed that there is such a thing, you know, a request for toys of this kind of belarusian, belarusian images, some kind of belarusian. the participants of this show believe that you need to pump up not only your muscles, but also your brain. hello, friends, today we are planning a football-hockey derby, as the sportswear is called, in which athletes train and perform in karate, judo and some other martial arts. they compete to see which of them is more savvy. football is relevant, that you are so attached to this football,

so i don't think that's why people are buying an apple watch. doj, we'll have to see what the find holdups or the issues that doj is going to have with apple. if you listen to what europe is doing, the real challenge folks have with apple is this 30% peak at the app store, and does apple lead to open up the payment mechanism. how do you open that up? i think this is instructive to look at what apple is doing in the south korea, the netherlands, and what they're doing in these places, even outside the apple app store to do payment, and it's a 27% grade. this is going to be -- the other thick the doj could come after is, do you need to have third party app stores allowed on the apple system? side loading, if you may. again, i don't know how they're going to come about it, but i don't think customers want to add more friction to how they download and run apps, so we don't think that will be a big deal. the apple payment may be the one to focus on. >> thank you very much. you also upgraded ibm. thank you very much for that very clear explanation. >>

the apple watch. to that, it's gotten this far at all, and 3 is some of the details that of really come out during this core case. really shut a light or pull back the curtain on how cut throat the competition is between these tact developers. so as you mentioned, this is about a company named massimo, and most of all has been around for 3 decades. it's in the medical and health technology branch and it creates things like advanced baby monitors. um, you know, health sensors, things like the measure, poles, oxygen, the measure, pulse rate, things like that. it also has its own wearable device that measures those things. now as early as 2013, my simone apple begin talking about a possible collaboration. this was before the 1st apple watch. nothing came out of it. but then later apple began poaching some of their employees. and then in 2020, it came out with an apple watch with this feature most most said, you've taken our property here and they sued. apple has counter suits saying you're damaging a rep

the tap and pay feature only works with the apple pay apple service. if you are a third party, you cannot integrate your own service using that hardware components are your application. apple said they are agreeing to open that up, to change that. on march 7 they will be doing that anyways. march 7 is when digital markets kicks in and that is a requirement of the dma -- to open up to third-party services. apple said they will be doing something the already plan on doing anyway. there is a scenario where they may lose some royalty on apple pay because of this but if it continues to fend off regulators , it is a positive for the company. ed: apple up 40% in the session, up 2% on the week -- apple up .8% in the session and up 2% on the week. mark gurman, thank you. coming up on "bloomberg technology," ford is cutting its workforce that is responsible for making the f-150 lightning pickup truck. there is a lot of discussion when it comes to ev demand. we are watching apple shares. on the back of the boa upgrade, the stock has also been added to the tactica

apple also makes computers.ac business has just been in free fall for the last few quarters here. a lot of pandemic buying, they put out their new chips in the max that were very successful. today we get this from acrosin of saying we will put this copilot button on keyboards and -- they are calling it the year of the a.i. pc. i don't know what that means exactly other than -- >> everything you're saying captures what we've been talking about this week, which is is there some kind of real problem with tech? or is microsoft and is a.i. the new apple, the new ecosystem? >> that's exactly it. >> they are the best idea right now to integrate into the computer's. >> that seems natural. let's go back to the 90s and early 2000s, internet pcs where the big thing, right? now they are trying to inject this a.i. into pcs and calling them a ipc's. i don't know what that means beyond just putting some good chips in there. as far as the capabilities, what can i do now with this a ipc that i couldn't do a year ago with a non-a

apple has nothing to show. everyone wants to see something, what does apple have cooking?g yet. >> the iphone arguably was the most important product in the world for the past 10 years. if i were talking about the supplier ecosystem, what is the most important product now? generative ai? i just wonder if that will -- so many of those chip stocks claim their ai chips -- they are not yet. right now, what they do is not as capable as what others can do. the iphone is not going away or going to be replaced or disrupted anytime soon. i know there were commentaries this morning saying where is the innovation and so forth? >> i think what you just said is so interesting. a decade ago, -- they are regenerative ai supplier. does that capture the shift in sentiment? >> it is hard to tell. the mobile business is going nowhere. this is still the gateway, mobile devices. it is still the gateway for everything we are talking about. the question becomes, can apple capitalize on that? if they have something, it will not come out until june. we are getting these whispers that apple is doin

a day, there’s even a proverb, a person who eats an apple a day doesn’t need a doctor, an apple, yeslready. not useful, look carefully, you will recognize him, grandfather, in the center of russia with us, money and gold do not interest me, you will go to russia today, return the sacred treasures of the nation, and from these treasures, my father, for a lover, you will excuse me, of course, but it all looks somehow not very plausible, there are secrets that have no expiration date, german, tomorrow after the program time, cognac, monte shococa, a product of the stellar group, on the seventieth birthday of leonid ermolnik, my favorite student leonid yarmolnik, i saw such a young boy, slender , very flexible, this freedom and lightness, it seems to me, was what distinguished lyunya in general. well , leonid esakovich is a very demanding person, but he really is a demanding person in life, he is a real friend whom you can call at night and say, leni sakivich, i need a taxi. i have never seen him turn away from any problem or or from some request to him? i was so lucky in life to have so

in particular, the application store for apple smartphones can.bal, apple itself risks losing control over the developers of programs for iphones associated with these programs and cash flows. according to bloomberg journalist mark gurman, who specializes in leaks from apple, the company is ready to move away from its once unshakable internal rules, all due to new european legislation. now smartphones and tablets from the apple company cannot install an application other than a proprietary app store, which prevents users from installing it. russia , for example, has lost many programs from bank car sharing, but the new law on digital markets in the european union, which comes into force on march 7, obliges the largest corporations, including apple, to give users the opportunity to download programs from third-party sources. moreover, mobile application developers should gain the right to accept payments through any services, and not just through a proprietary payment system, which retains up to a third of each transaction, so here's... brand gurma

apple versus microsoft.it meaningful at all to see the market cap narrow for these two companies for apple? >> it is irrelevant. i think you need the investor perspective on both companies. they have incredibly long duration and visibility of earnings. apple has the ecosystem lock-in. microsoft has the enterprise lock-in. whether you are playing the race of the larger market cap, they have the tremendous valuations because people know in five or ten years you are still going to be investing in their products. >> richard, great to see you. have a great day. >> thanks. >>> coming up on "worldwide exchange," what every investor nooetd needs to know today. much more "wex" after this. (christina) wanna know the secret ingredient to running my business? (tina) her. (christina) being all over, all at once. (tina) all the time. (christina) but my old network wasn't cutting it. and that's not good for baking. or judging. or writing. so, we switched to verizon, the network businesses rely on. with verizon business unl

at this point, apple either has to stop sales of the apple watch tomorrow morning, 2:00 a.m.acific time or instead, they have to remove the blood oxygen feature from the device, so this does not put apple in a great position. obviously, the apple watch is extraordinarily key to the company's bottom line and its future, but at the same time, i think if apple makes the decision, which i believe they have, to simply remove blood oxygen and continue selling the device, i think they will be in good shape. i don't think there were many people buying the watch specifically for that feature. i don't think it is a huge deal. it is more of a small victory, but any time you get apple to remove a feature, it is a pretty big development. >> the company is facing challenges on multiple fronts. we are hearing it could face a doj antitrust case as soon as march. >> my colleagues in washington, d.c., are reporting the doj is taking an increasingly strong look at the company and some of their practices related to how they prefer their own software over competing software, how they tell you tha

company, into a service company, through all these things like apple music, apple tv or apple arcade, you know, and apparently the profit margins for service are much higher than they are for hardware. so for that reason alone, you know, it's all about money. that's let's face it, for that reason alone, i think apple is is in this for the long haul and and it's not about to rock the boat. so you know so you know i don't think amazon and apple are going anywhere quickly. and the other factor i think of these big of these big tech companies coming into the streaming space, is that just dump money on these shows, at least they have in the past now, they may be cutting back now, but they don't money on these shows and. well, you know, money is a double edged sword. it makes the shows they can attract better talent and better writing, better direction, better showrunning, better acting, better actors by paying them more. but it also means that since, you know, apple and amazon want a return, their investment that it makes the shows risk averse and you know you see that in in this you know

how does it feel to be taking on a big beast like apple? it's daunting in that respect but the case is a good case and there are so many million people involved, i'm enthusiastic about this, you have to be otherwise you would never start. here in the uk, consumers will have to wait and see if they get the similar pay—out. all batteries loose power over time, apple says the iphone power is good for 500 charges, that's going from zero to 100%. a 50% charge is half a cycle. there are power saving tips like dimming the scream and limiting app functions but ultimately, our need for longer lasting and more powerful batteries is a challenge for all the tech firms. apple said it had no statement for us, it's previously said it would never intentionally shorten the life of products. here in asia, the tech giant samsung electronics says its operating profit in the fourth quarter is estimated to have fallen by more than a third from a year ago. tojust over $2 million. the tech giant's projections is much worse than what analysts had expected and it co

the value is $50 billion, apple's - cost-of-living. value is $50 billion, apple's value l cost-of-living. the value is| $50 billion, apple's value is cost-of-living. the value is i $50 billion, apple's value is 3 trillion, 60 times, why? because manufacturing is not that profitable any more. plus, the former— that profitable any more. plus, the former governor _ that profitable any more. plus, the former governor of - that profitable any more. plus, the former governor of india i the former governor of india central bank on why the country's plan to cut foreign investors may not be the best one. hello and welcome to asia business report, i'm suranjana tewari. we are learning that who the fighters say they will continue attacking vessels in the region of the red sea. this announcement comes after they launched a drone attack in yemen on a us commercial vessel of eden. the escalating tensions in the red sea have many analyst concerns that the impact of these attacks will drive up the cost—of—living. —— houthi. some companies had to take

that really has benefited apple.e other extreme of the market, the lower cost phones, is also increasingly fragmented. when you are looking at the android market, consumers have lots of choices. in china, you have huawei but you also have other options. samsung has a lot of competition at the low end and the top end of the giant in the room has always been apple commanding a premium and now it seems more people are simply willing to shell out more money for those more expensive phones. money for those more expensive hones. ., ., ,, money for those more expensive hones. ,,, ., ,, ., money for those more expensive hones. ., , , ., phones. speaking of people showing u . phones. speaking of people showing u- mone , phones. speaking of people showing up money. let's _ phones. speaking of people showing up money, let's talk _ phones. speaking of people showing up money, let's talk about _ phones. speaking of people showing up money, let's talk about us - phones. speaking of people showing up money, let's talk about us reta

the first thing we need is apple juice, apple juice. rule of four: agar-agar, eggs, sugar, juice.oke you won’t be able to create floral compositions; everything requires persistence and time. you guys didn’t do it very quickly, i started, then i gave up, i freaked out, i could stand here all day, i could give up everything at once. and how long does it take from the very beginning to the result? well, look, if you take mixing and depositing, this is. literally maybe 15-20 minutes, but the marshmallow itself , you know, it takes longer, maybe a day, or maybe even a day and a half, separate the yolk from the white, beat until fluffy, the main tasters in galina shchoglova’s family are children, they laugh, the craftswoman of the home otc, the hack won't work, the younger one wants it, he always says, give me a flower, give me a marshmallow, and sometimes i can come, i have everything in stacks evenly, i look there is no one, i very simply look carefully, i don't want. to spoil the sephir, when the lush mass reaches its condition, boiling apple juice is poured into it. now the master

apple.n on market cap. not really putting a timeline on it, but this is -- it is more about the business strategy and the structure of it. jonathan: let's turn from stocks to bonds. in the bond market, november. december, almost on 25 basis points. back to .39 -- 3.93. lisa: and why would shift. we are back to everywhere before i. it is very unclear whether people will get worried once again. tom: united kingdom, 7.7%. 7.7%, down to 6.7% on food prices. that is from katie lentil. there is germany come the u.s., and these micro data get cu to the enthusiasm. tom: -- jonathan: those moves in bonds taking down the u.s. dollar. back down, but if you look at some of the ranges and levels we have gone through, think about the swiss franc as well. it has been pretty notable in the last month. lisa: it is all stemming from the belief that they are going to cut rates. that conversation will still dominate things in 2024. jonathan: are they talking about it? what -- are they actively talking about the

apple is down 6%. two downgrades due to the fact their moneymaker is losing its popularity, apple's market dangerously close, dangerously close is an overstatement because both companies have near 3 valuation but apple is close to microsoft. if you look at the gap the difference in valuation is one hundred million dollars. who will come out on top? we have our trader from the stock exchange, teddy weisberg. and we also have chief economist joe look guardia. let's start with the jobs report, good or bad? >> good news and bad news. all the pundits predicting rate cuts and timing of the rate cuts, nobody knows. it's it a lot of wishful thinking and the markets the last few months of 23, the reality is nobody knows what the fed is going to do but as long as the economy stays strong, it is a little aggressive. lauren: i wonder if rate cuts are aggressive. i was looking at wage growth. there' s inflation in wages, 4.1% on the year and look at the labor force participation rate that starts to fall, fewer work

apple is completely intertwined with china.t relies on china for it supply chain and shows -- the growth of the chinese market has been good for apple. the iphone dominates and it matters a lot here. these are faint signals that we saw last year. they are seeing growth in huawei sales. they are expecting some pain for apple in china. but chinese consumers still love the iphone and have still been buying it. there were lines at apple stores in december, even as restrictions were being reported by bloomberg and others. caroline: cook was the supply chain guy before he became the ceo. they have not stepped away from china. >> part of the problem that apple has is that they are a major employer in china. china does not necessarily want them to diversify their supply chain, while apple would like to not be totally dependent on a country, very soldering covid and the demonstrations in front of these iphone factories in 2022 -- it comes with risks. you had a push and pull. some people have seen as restrictions as a message from china

all eyes on apple. down for a fourth straight session, $170 billion of market cap sheds during that four days, and the second downgrade. there appeared to be basically three things. they are looking at inventories and the first half of this year and they are worried. they are looking at growth of unit sales going into the first half of the year and they are worried, and then they are looking at china and the macro picture. i want to bring in bloomberg's intelligent analyst for his take. those were the three key points. there is some readthrough from barclays who had similar concerns when they downgraded earlier this year. do you share those concerns? >> yet, this is the same exact thing we talked about when they last reported, the big issue with china. china remains a wildcard for them. in my view there isn't any new information. he already knew china was going to be bad. in fact, we've been hearing about it for almost 2.5 months now. when they reported, they really miss that china number by a big amoun

a day, there is even such a proverb, a person who eats an apple a day does not need doctors, an apple yes, but a kilogram of cherries, yes, even strawberries, this is no longer useful, cherries, you will go to russia today, return the sacred treasures of the nation, a grenade, this box contains all the most valuable things. dad, the only letters missing from the house were letters from world war ii. this is the secret that ultimately killed my father. where there are values, there are also crimes. let's figure it out now. your operation is classified. do you understand the order? so exactly. is anyone still hunting for the contents of this box? my grandfather vananerbe was exclusively involved in archaeology. it's really. ethiopia and eritrea are fighting each other. pushkin is a cultural bridge between russia and africa. in russia , africans have never been considered second-class citizens. the same ibrahim hannibal, reached the rank of general, he entered the russian elite. in 1960 , under direct pressure from the soviet state, 17 african countries gained independence. i revered the

s importance to apple.oing to see something in june on this. >> all right, gene, thank you. gene munster. deepwater asset management. will that be enough, though, to allay the concerns about inventory builds, about the iphone not being innovative, about people holding onto their handset longer because the macro economic environment, if they say, you know what, siri's got a.i., we've got this whole new thing going on -- >> i think it will be. if you think of, like, and gene didn't get to spatial computing, he's really excited about the vision pro and their opportunities there, and really think about services, so, there's a whole lost of things that go on around there. i would expect this june user conference to be all about a.i. where it wasn't last year. and just one other point really quickly, because obviously i work out a lot. this story is near and dear to my heart, the peloton situation, but i think there could be a bidding war. earlier -- sometime last year, youtube tv was one of the first streaming s

the story with apple is -- nothing has changed with apple. they've been slowly losing sales, certainly in the iphone progression, but 30 times for apple or just 25? that is the big deal. i think that's what the market will wrestle with next year -- this year. >>> i know. i said that last night, too. >>> we've have an offenses place to get in on the action. >>> and next frontier reports after the bell, saying the s.e.c. is set to make a decision next week on spot etfs. how how will it change for crypto? "fast money," when we return. - "best thing i've ever done." that's what freddie told me. - it was the best thing i've ever done, and- - really? - yes, without a doubt! - i don't have any anxiety about money anymore. - great people. different people, that's for sure, and all of them had different reasons for getting a reverse mortgage, but you know what, they all felt the same about two things: they all loved their home, and they all wanted to stay in that home. and they all wanted to stay in that home. - [announcer] if you're 62 or older and o

you can do without apple leadership.you can necessarily lose all of the medicare, obviously, and still have that hanging together. >> we have a few below. what it looks like a nice little run here. we will see what next week brings hot on the take. we will see that coming up. [inaudible] . >>> all the major industries and grain, barely, i should count the russell, that's down, everything down for the week. that's the score car on wall street. the winner stay. late i'm jon fortt with morgan brennan. >> a day for the market at the average us tap nine weeks winning streak, we started lawyer and ended higher. coming up, the chief economist mike zandi on what the stronger than expected december jobs report could mean for the fe

i happen to like apple plus.'ve been watching pretty much everything on apple plus, but what i think is really great is this. you can toggle, very easily -- i was on an airplane, and i was in the front row seat where you can't have your computer. you can have something on your head. but david, i think the problem is, you know, and i do like the vision pro. don't knock me here. but it is something you put over your eyes. so far, that has not been a way that people like to receive information. >> no, it hasn't. god, i can go back to google glass. remember that? that's a long time ago at this point. and then, obviously, we think about meta. i mean, is this a competitive product to what meta has out there in terms of being able to access the metaverse, again, with what are essentially goggles? although they continue to try to downsize them in terms of size and weight and everything else. >> there's two -- there are two metas. there's the quest 3, and then there are the ray-bans, and david, the ray-bans are so cool. a

chain reeling from that downgrade from apple yesterday.lysts over at barclays is having reverberations today. so keep an eye on solar stocks and those chip stocks tied to apple. kell, back over to you. >> dom, thank you very much. >>> is bad news bad news again for the market? manufacturing activity and job openings remained at lower levels in the latest data, and we'll get more clarity from the fed's last meeting when their minutes come out at the top of the hour. steve liesman has more. steve, what do you make of it all? >> we've got the soft landing scenario that got a little help from the economic data with a decline in job openings, showing easing inflationary pressures. the ism manufacturing was up 0.7 to 47.4, but the third straight month it's indicated to contracting an economy that is below 48. ism the index, the price index, it declined. so that's a good measure. the fed is looking for easing in the labor market and did get a little bit, the lowest level since march '21 but above the prepandemic level of around 6 million. the qui

i still look at apple among the mag 7 and i don't know you can say apple will be the stock that will out perform the other mag 7. in 2023, it under performed the mag 7. there's challenge there in turpterms of growing the revenue -- >> they have no strategy for ai right now. they may have a strategy but have no solution for it. >> they will show us what it is, and i look at apple and it's probably towards the bottom of the list. >> with artificial intelligence, it's one area where you can't pressure the market, as they tried to do and failed with cable, and they tried to do that with other areas and they just can't wait and improve upon it like the -- >> you don't know what their ultimate plan is. i mean, you are assuming that their last two -- >> yeah, i have no idea. >> the chat bot party -- how do we know? >> we don't know. we do know the strategy that worked is getting in front of it as we saw with microsoft. microsoft rewrote the playbook, and they took a company that was not primetime writing, some consumer, you know, attraction because of the uses, and so now that's helped thei

everyone's downgrading apple.alk about the vision pro, as if it doesn't exist. >> this has been a recurring thing with you. >> if they get the right price and you're able to watch a game with vision pro, it's like being on the 50. for the peacock wild card games, and all you're doing is being worried about getting hit by a football. it comes -- i was watching, and i was like, wow, the shots are coming at me all over the place. and i was in vision pro. and then i was going like this, and it was doing what i wanted. when you say, hey, meta, that's really cool, because mark zuckerberg, who takes some of the money that he just sold -- no, he doesn't do that, but i think meta is also very a.i.-oriented, and zuckerberg's got a sense of humor. people don't get that. it extends beyond the bunker. >> your point on apple reverting back to 160, dollars, we're back to $180. >> yesterday's downgrade was, they lack innovation. how do you do that? he said, siri, please go to chatgpt and give me the complete on -- i mean, she's g

let's look at apple and microsoft. apple has had the top spot until friday's close where microsoft was slightly ahead of that and i believe it still is as those stocks are vying for the top spot now you have this report that the iphone is being cut amid demand fears there interesting, josh, what's your take on this apple has been a real good stock since the beginning of the year. it has not traded well technically it's looked bad. but what now as it gets reiterated to buy at deutsch and $200 is the price target for them >> you can own both stocks you don't have to pick one over the other, have exposure to both by virtue of index funds or active managers who are chasing index funds. we all own the stocks. what's interesting about apple versus microsoft is the trend has reversed in the last three years relative to the last 20. we took a look at this apple's market cap has been larger out of 2,500. so 88% of the time apple has been the bigger stock. over the last 20 years apple has done 37% a year versus microsoft's 17 in

>> apple we set up a four on the show as goes apple, so goes the market. here you have obvious from what we saw on fox, and we see a decline in production in china of iphones. i anticipate we will see a slowdown but if you look at the chinese academy, the chinese economy is in shambles. the consumer has been damaged more so than they've acknowledged. they are not spending as much money and without the china market you will not see the growth in apple. stuart: amazon comes out on thursday as well this seems to be about cloud growth at aws service. >> aws, you could take amazon web service and you could create a very significant company if you spotted off this is about how aws is doing related to microsoft. it is also about the consumer because although amazon aws is probably the most valuable growth part of amazon and there is also the health of the consumer the amazon may give us a snapshot into. stuart: the super bowl is the kansas city chiefs versus the san francisco 49ers. will you watch all the way through if there are a lot of cutaways to taylor swift

not own apple it seems. so to own what you think is a diversified tech etf and layer more on adds risk to the typical investor the two etfs that you mentioned, they have about 42 names they're roughly equal weight they're structured a little differently. we get to leverage the research departments of a great entity like jpm, get enabled companies as well as technology companies, and benefit from a broad base of companies that are either in the tech space or benefiting from it, and the multiples in those funds are even less than what you paid for the magnificent seven, which after tesla's demise, is really the magnificent six. we think that's a better what i to play the tech game than the magnificent six. >> so do either of these funds have any of those magnificent seven holdings in them >> they do, but it's an equal weight approach. it's really hard to escape it. unless i'm going to find one that says without the mag seven, but the beautiful thing is, there's 42 games they're all about 2% to 3%, so you're no