also working to shore up these very important communities of high potential >> it is a interesting and important time to be doing a merger and extending your reach. we appreciate you coming on to share those details with us. thank you. >> my pleasure >> leslie, thanks. good monday morning, everybody it is late 8:00 a.m. at tesla, 11:00 a.m. on wall street, and "squawk alley" is live ♪ ♪ ♪

>> good morning, david bosa is with us for the hour, as we wrap up august today, a historic month of equities. a lot of fed speak, earnings from high profile players like adobe and zoom the dow with a little weakness down the nasdaq and the s&p saw record highs of course we have stock splits to talk about. apple is now official. josh leadershipton going to start us off on that hey, josh. >> carl, the point of a stock political is simple. you try to attract those inve investors that night have been discouraged by a high share price. the fundamental reason is always the same, he says. we want to make sure that the stock is accessible to a broader range of investors this will be apple's fifth stock

split here so how is apple performing around these prior stock splits? historically they say that apple has outperformed the parks in a three-month split break. apple shares have also out performed. this comes as apple as skyrocketed higher the share up more than 70% this year now on it's best up since 2008 up 140% in the last 12 months. there is really three big reasons. one says apple's cash pile they will say that apple is benefitting from the work from home trend, the mac and ipad

especially some of the important deck trends in the years ago. >> josh, stay with us. there is another stock political today. let's get to our phil labeau tesla going to another all-time high today. once it kicked in they thought i will cash out. look at the market cap, another new all-time high, $445 billion. let's put this into perspective with the top five auto makers worldwide. they had alliances in there as well as hyundai. you add in all of those automakers the market cap is below tesla's market cap

they sold about 44 million this year a little over 360,000 vehicles so just with 360,000 it is worth more than the top five automakers combines. we'll get the tesla q 3 deliveries the stock keeps moving higher, guys >> you would think by both of your reports that something changed here with these splits as we talked about at length, nothing fundamental shifts, no value created with these stock splits what are you hearing from the street from analysts does this run continue, even for investor that's this may be psychologically more atizing at a lower price. what do they think going forward? we heard in the past at least that the stock has continued to rise after these splits? >> if you look at the target

price they are under this. there is a few above this. almost every analyst will say the same thing that we do not think it should be at this high of a valuation having said that almost every analyst when you talk with them will say the same thing. they are the electric vehicle market right now nobody has legitimately stood up to tesla and said our ev is better than yours. >> when i look at the 1641, you do wonder if having watched this move, and again even though it has nothing to do with them, you have to wonder if they're doing

the same >> yeah, it will be interesting to see what moves follow this one. obviously apple, as we noted, david, they have a history of making these decisions, right? they have done it again and again. this is the fifth time they have done it. i think for investors now the question is what moves the stock higher from here there is a lot of attention and enthusiasm about that enabled iphone that we know is on the way. we think it will be on 1rshelve for the holidays i think that is an interesting debate about that new hand set what will demand be like some bulls argument that enthusiasm will be tempered. they will say listen, they may be relatively expensive, that could be a challenge giving all of the economic turbulence and 5g coverage is still limited. it's not that they don't think the shift is coming, they do,

but they think it could be more of a 2021 story. we'll see. >> that's a good point the way that barclays puts it together this week be nervous when you hear words like supercycle tossed around. thank you very much. t tiktok today, a deal to sell the business could be available as soon as tomorrow. joining us to discuss the latest is the cofounder and cnbc cricketer how are you doing? >> we have a curve ball thrown at us. wanting to have say over a final day, is it as eminent as we're hearing? >> i think it is closer than not close. it has to move at these times. and i think the issue is who has

the better technology and who can deliver the security that the u.s. government is requiring and then the oracle. >> the political ties? >> i think they are a technology company. i think microsoft and walmart and more they are inclined towards oracle and the founder and bitedance, a fan of his work there, i believe. >> i want to ask you about developments over the weekend. perhaps china wants to limit the transfer can microsoft, walmart, or

oracle keep up engagement the things that make tiktok so special. >> it is definitely a question of is this a chinese retaliation. talking about how china already retaliated but it is not exactly the same thing because it is a different country because we have an open internet and they do not i could be a problem in it i think that is a big question in general yo you have worries about oracle

taking it over and then you have wal mart and micro soft and how do they work together and it is complex to matter how you slight it will the service continue to grow and thrive has it has been. >> yeah, it is david, did you have information into microsoft and walmart? do you have any sense as to particularly the wal ma walmart. >> they have a big growing business, and a commerce business, and so you can see them trying to compete with amazon in that regard. so that makes total sense.

so doug mcmillen has leaned hard it would be hard to not try to go for this. this is a lot about personal relationships. it appears nonpartisan so the question is who can convince whoever is speaking for the white house. they come in all of the time and they mess up things. who will have the influence over this deal in the end and of course it will be president trump. >> finally, kara, you have been but think safe to say, you're a fan of the product itself of what tiktok offers do you look to the linked in deal as analog to how moft might

about sork this? >> i hope so, run correctively the way that others have been run. less people have complained about skype. they have not innovated as much. they have a whole unmuch they are certainly able to do this depends on where it comes down i just, even though i don't see oracle owning this, it seems crazy. i don't think you can count them out by any means whatsoever. >> intriguing, kara. >> next week we will know, right? if i'm right you'll have to call me a genius. >> i will do that anyway >> let's get to your latest column about specs which you

also speak about maybe it is a way around a painful ipo process. >> yeah, it has been around for a long time. i think it is interesting that it does push forward companies like, you were just talking about competitors to tesla electric trucks, autonomous vehicles, they are in need of funding. some people are moving toward direct listings. but they don't need the cash some companies that need the cash and also want to become public, it is kind of an interesting way to do it and now everybody has one. i think you probably have one, carl, i don't know but it is an interesting way to finance things and to go around the traditional

ipo process. but banks are involved in these spacs, they always get their cut no matter what but it is a really interesting way to take public innovative and high growth companies that need funding and would benefit from being public. >> kara, as you say it feels like everyone has a spac now there is a ton of money being raised but i wonder will it prove more difficult to put that money to work even last week we saw a slew, a ton of tech companies unveil their plans to go public a few looked at direct listings, but especially for someone like bill ackman that wants to look at a blue chip unicorn where do you think companies are thinking about that process right now? >> i think the vcs i think it is a great. another way to go public

another way to release funds for the vcs. a lot of companies have stayed private in this time frame it is another financial tool that these companies can use i think in some cases they work really well. i think bill ackman is raising four or five billion it is a lot of money one of the things interesting about it is that it gives them another thing because they have more capital to bring to bear. >> yeah, we'll see if any of them, at least in the ev space, gain any ground on tesla, kara, which is up another 10% today. >> it is, it is astonishing. >> okay, kara swisher. >> up next, steven cohen reaching an agreement to buy the

new york mets. details after this break i'm a verizon engineer, and i'm part of the team building the most powerful 5g experience for america. it's 5g ultra wideband, and it's already available in parts of select cities. like los angeles and in new york city. and it's rolling out in cities around the country. with massive capacity, it's like an eight lane highway compared to a two lane dirt road. 25x faster than today's 4g networks. in fact, it's the fastest 5g in the world. from the network more people rely on. this is 5g built right. only on verizon.

getting very close to

acquiring the company, but mr. cohen has entered talks to acquire the mets price is not exactly the issue, but i can't tell you exactly what it is involving things like closing and other issues there was a time not that long ago when mr. cohen was also very close to acquiring the company things related to management of the club there was a five year management that is not the case any longer, but there may have been issues around closing and closing costs that prevented that deal from getting to the finish line prooeftly. the latest options started earlier this summer. it got fairly heated a group including alex rodriguez and jennifer lopez were willing to pay $2.3 billion, but it was

not enough to get them to those exclusive talks. mr. cohen must be willing to pay more $2.6 billion was the word. then he will require approval from the ownership of major league baseball, that is not an automat automatic, though. i would be surprised if there was significant opposition to his acquisition of the club. but again, a fairly heated auction, bound to iwinder close. call it around a 2.5 billion end here and for most mets fans the prospect of a cohen ownership is viewed positively given his business acueman and his way to spend money and take on a lot of personal losses in the years

ahead. over to you. >> right, and you know david it is such an interesting moment to look to own a sports team. new labor movements, players taking an aker active role in social issues. we saw what happened recently. do we know anything as an owner? if they demand more parties pay how might they respond to him? >> that is an interesting question i don't know that i have a specific answer for you owner to say listen, mr. cohen as we know, had serious issues with the government but one thing i will tell you having followed him for many years he also evolved his business the way that it needs to be to meet whatever challenge is there and he has done that with the hedge fund business, which

changed dramatically in some ways the various things that are working or not working he has a willingness to do that. he will evolve in whatever way is necessary to ensure success at least something that when you look at his long career, has been the case. despite, of course, what was a very difficult point at which he was trying to settle with the government for charges of insider trading. that is a reason why those say it is not a layup that he would get full support >> yeah, interesting for so many reasons to see him in this role. david we'll let you get back to your reporting we're keeping an eye on shares of netflix. they announced they are launching a section of their website offering subscription free streaming for some original content including movies and the quk leepisode of several shows

"sawaly" is back after this quick break [ thunder rumbles ]

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a possible sign of hope for the movie industry as "tenant" opens internationingally >> can the tenant will be in 41

international markets. industry watchers are reassured this is the biggest ever opener. this release schedule is a marathon, shot a sprint. it is scheduled to open in the u.s. this weekend. tenet performed particularly well on imax screens fewer than 250 screens that is by far the biggest late box office week for imax proving demand for the new experience. new mutants was at the lower end of expectations dragged down by bad critic reviews they estimate that 60% of theaters in north america were open and they're operating with capacity restraints. one sign of the changes box office, orion pixtures, bill and

ted fashi ted face the music, that is notable but you can also rent it for $20 or buy it for $25. despite the option of watching from home, even with the threat of covid, some people would rather watch from a theater. david, back over to you. let's get a news update with sue herera thank you, we begin with portland and detroit detroit is holding a memorial day to honor the more than 1500 city residents that have died from covid-19. families are taking part in a procession of vehicles along a route where pictures of the victims have been put up it will include speeches by local officials and fireworks later tonight. and now to portland oregon, police will return to portland to help local authorities after a fatal shooting of a man

following clashes of supporters between president trump and counter protestors few details have been released and the coach that helped turning georgetown into a power house has died john thompson was the first black coach to lead a team to the ncaa title he was 78 years old. you're up to date. that is the news for this hour carl, back to you. >> all right, sue, thank you very much. we have been wondering if a month end would bring changes to the tape the dow is down a full percent now with just a handful of components in the green. we will keep an eye on this and they will struggle to hang on to gains of their own traded goods.

tools, cattle, grain, even shells represented value. then currency came along. they made it out of copper, gold, silver, wampum. soon people decided to put all that value into a piece of paper, then proceeded to wave goodbye to value, printing unlimited amounts of money as they passed the buck to the future. that's why it's time for digital currency and your investment in the grayscale funds. go digital. go grayscale.

apple and tesla hitting new highs and split adjusted trades. what does our next guest, known as the dean of valuation know about this joining us right now, aswa, thank you for being with us and tesla is up another 8% today what do you make of all of this? >> we show you how strong momentum is. we talk about earning, cash throws, but in markets they can drive things stronger than any other force. right now the force is with them the force in buying is behind them that's why we're short of these stocks you're asking for trouble. >> so the stock splits, as we have been saying, they don't

change anything fundamentally. they're adding to the momentum we heard from josh leadershipto phil la. >> narrator:. > catalyst can cut both ways things are measured against expectations and right now the expectations are sky high for both companies with tesla this has been a long standing issue for the last 1,000 years they found a way to confound expectations so there are catalysts coming up, and they can reverse the momentum, but i know as i said i would not bet against moe men t momentum right now >> looking at various records fall did depending on how you slice it, for example the ndx is a percentage over their 200 day is nowhere near over where we

got in 2003. but they have equips a march of 2,000. i never believed in this market cap and the gtb. but it is nice to have something as much. as tech companies rise, your biggest expense are r&d. and it is capitalized right now. you can never ignore history, but i think blindly taking what we have seen in the last century and applying to this market it will not make you sit on the sidelines forever. i'm not saying they are above

expectations, but which of the stocks have adjusted the most. there is a reason the stocks have gone up and there has been a fundamental shift. >> so what ones do you think have justified their run up. >> i think i looked at just the manufacture last week. and it is surprising how close they are to their fair values. i found facebook to be over valued i think the motion that they're running off of pure oxygen, through is nothing behind them for the older these are money machines the cash is flowing in and there is a reason that markets like them so much

>> we're changing the way we interact with the community, and because of that there is real value. we're seeing metrics we have not seen in several decades. is that a fair way to say it >> i think so. there is a simple experiment two weeks ago i took every waking hour of the day and i kept track of the eco system and 95% i was we're already there, the market is going to catch up, it will be a reality for all of us. >> i'm sure zoom as well, aswath that reports after the bell. they have seen an enormous run up we saw a slew of tech companies unveil their plans to go public. i wonder if you think anything

has changed from last year last year we saw more public investors interested in profits perhaps over that growth at all costs model. the moment that we're in as you say our lives are spent in these eco systems, the tech eco systems, a lot of the companies coming up in cloud, has that shifted? are the public market investors more forgiving of losses >> airbnb is stronger than it was a year ago it is a strange thing to say, but it is all relative to competition. and this crisis has handicapped the marriott's and hiltons of

the world so much they have given an opening to airbnb private risk capital has not left the game. they usually drive up money. money, ipo, and it is the biggest single story of this crisis that is incredibly unusual in a crisis the risk capital and the gap >> that's right and it is going towards the cloud companies. i want to ask you about air bnb. it may emerge from the crisis with more operational levage efficiencies, but it took a big step down this past year $31 billion. what do you think the market will pay for it? >> i think the market will give it an $18 billion valuation. i think they are priced more

attractively than google was i think if you can get in on the ground floor at 18 billion, i think it is a decent ipo i can't tell you what my value is, but i'm looking forward to the prospectus coming out. if i would have picked one to put into my portfolio, i think it would be airbnb >> thank you very much >> speaking of some of those names, we're watching amazon today trading at an all-time high now turning to amazon drones >> yeah, prime air, the drone delivery service, was given the ability from the faa to fly commercial delivery flights beyond line of sight they are now the only companies

given this approval from the faa. widespread commercial drone delivery is considered years away at least here in the u.s. amazon giving anny palmer this statement. we will continue to fully integrate into the air space and work closely with the faa and other regulators around the world to realize our version of 30 minute delivery following news that prime air, the delivery was service was giving permission to make deliveries beyond line of sight. thank you for that, frank. i have the worst day for the dow going since july 23rd. how safe is vote by mail we have those results, next.

as the coronavirus continues to spread, more americans are

working, learning, and shopping from home more than ever before. many people are considering voting from home as well we are putting it to the test and kayla tausche has the results. as americans consider who will get their vote, millions are weighing how to cast their ballot and whether or not they can trust the messenger. 12 nbc owned stations conducted an spearmint sending 155 first class letters across a dozen major metropolitan parks 88% arrived within three business days. the u.s. postal service's advertised time frame. 10 arrived within a week two of them are still missing. >> some sent within the same city, some sent to people in

other cities the postal regulator said in the june quarter that 92.4% of first class letters arrived within two days a faster rate than the study in august they carry standard postal lewis de joy under fire for eliminating services >> the postal suervice is able and committed to delivering bat lolls on time. >> with overtime, without high speed sorters, and 40,000 employee that's have quarantined, manpower is limited. >> the mail is there to be worked and you just ash trainly reduce hours, than guess what, it doesn't get worked. a report found major issues in wisconsin voting by mail spiked 440% in it's sprapril primary.

tubs of ballots were misplaced, returned, or lacked post marmar. >> this is a problem in milwaukee, and it could be nationwide issues in the delivery of ballots. as the demand for mail in voting increases because of the covid-19 crisis. nationwide 190 million americans are eligible to vote by mail this year. a spokesman directed us to public comments made by dejoy and the organization and argued that the postal service has enough capacity including collection boxing and processing equipment to handle all of the mail this year if is less than 2% of all total mail volume. nbc stations plan to test the timeliness of the mail in

advance of the election. deirdre? >> thank you, we look toward to later results as well. coming up, a fit bit for your brain. elon musk's newest start up. ayitus

elon musk wants to get in your head. they unveiled a pig, name gertrude who had the chip in her brain. he did not provide a timeline for those treatmented. david faber, this was not on my 2020 bingo card. i don't know about yourself. where does elon musk get the time for all of these ventures >> that is always a key question, isn't it between tesla and not to mention spacex, and neurolink. you know about it better than i do, being there in the bay area in particular, where he hired a

lot of computer scientists they are racing to try to build. from what i understand b, and i do know a couple employees there, he is always pushing, pushing, pushing even when you think he would not have the time or the capacity to focus on it. but trying to actually have a commercialized product at some point that you will implant in your braen to help combat certain diseases >> it is that pace of innovation, said, some say that is why he was able to up end autos. we'll watch those multiple pots that he has boiling. schools installs 10,000 ai purification systems then currency came along.

they made it out of copper, gold, silver, wampum. soon people decided to put all that value into a piece of paper, then proceeded to wave goodbye to value, printing unlimited amounts of money as they passed the buck to the future. that's why it's time for digital currency and your investment in the grayscale funds. go digital. go grayscale.

with coronavirus cases continuing the surge, just how many are bringing back students in the fall? let's get over to steve with the data steve. >> a new study with implications for the nation's health and its economy finds that more than three quarters of college stunl students are back on campus. 78% of four year residential colleges have summoned students back to school julie said in a release quote despite challenges to managing health services and the logistics of everything from moving in to dining, colleges have made a clear commitment to getting students back on campus. the percentages larger than many

would have thought because it includes the many schools that have called students back but are teaching virtually and in-person. it raises potential for students to bring the vie raus are you sure back home 26,000 cases and 64 deaths on colleges and universities around the country. that includes headline grabbing out breaking like almost 1,000 cases at the university of alabama at birmingham and 835 at unc chapel hill. 27 of the 51 states plus the drikts of columbia, 100% of schools have called students back to campus it's weighed down by the decision in many schools in california the keep students at home and not teach them on campus guys, for better or worse the study found that 60% of schools will send their students home from thanksgiving until january.

david. >> yeah, a different calendar this year for so many colleges and universities thank you. new york's department of education announcing partnership with delos that's a private reality technology firm. it would provide up to 10,000 air purification units to new york city public schools this is in order to combat the coronavirus. ceo and founder joins us to tell us more. my first question is, school is starting soon, are you already in process of putting the units in the schools or will this take a while. >> this started this week. we have already started making shipments. >> what does it do >> it's a health and wellness

reality and technology company we have been merging the health sciences with the building sciences for almost eight years. the challenges with schools, twofold. number one, reneeded to locate and get product that has efficiency down to a micron size smaller than covid make these things scaleable to any type of space. there's all different types of classrooms we partnered with health care. >> how many of them do you need for a given area it's not a per classroom thing is it a per school >> one or two units will do it

these are very effective solutions. >> this is filtration that we're talking about. i know the mta has talked about ultraviolet light putting some sort of units like that on top of their subway cars do these all work in different ways or do you think there's a real hierarchy of what does work and what does not in. >> there are so many methodologies here we have been looking at ultra fine particles for the better part of four years this is the most efficient to filter air air we have an airborne viral load to consider. this is the best solution that we can put forward for air filtrati filtration >> what is stopping you from putting this just as much

emphasis on movie theaters and museums and other types of commerce. these unit will be effective for anything >> what can you tell us about the costs of deploying 10,000 air purifiers into new york city schools? what are your margins like whose paying for them? >> when you think would we have to revamp our air handling system, this solution allows for an approach to cost that amounts to about less than $10 per student. that's quite encouraging when you consider the fundamental

need to address one of the core issues here which is airborne viral load >> is there any data at this point that gives us the sense as to whether it mitigates against the spread of covid, the particular area with your system in it? >> that's what this company has been about for years we take an evidence based, data driven approach, laboratory tested 99.97% down to a micron size about .007 covid particles are about 0.8 to .14 microns in size. the efficiency is quite high >> finally, what about the company itself you're a private company are you going to expect to see revenues jump significantly on the introduction of this product and a lot of different venues that might not had been anticipated as a little as six months ago >> this is one component of what

delos does we get into technology software programming. the big picture here is we have been studying be built in environment and it s impact on the human condition. the programming relates to any type of solution as to how the space around you impacts you yes, we have seen a catalyst it took pandemic to get this out to the front and center of every one's mind at the end of the day, it's quite simple what surrounds us matters. what we touch matters. what we breathe matters. how we gather indoors matters. that's been the fundamental science and programming of this organization since the onset >> thanks for spending time with us >> thank you

>> that's a good message we'll get zoom tonight and tomorrow things kick off even though it's a historically slow week ahead of labor day. we'll get some pmis. mnuchin testifies and nvidia has an event as well the judge is back. let's get to the half. thanks so much front and center, stocks posting their best august in 30 years. what does that mean for your money now? we debate that joining me are joe, john and shannon is the chief investment officer. good to have everybody with us today.