story. good product and infrastructure momentum >> the man so important they named an etf after him, joe t. >> a little update on my netflix position, i'm staying with it. it reached a high of 615 on september 8th. it's pulled back right now to where i bought it. i'm not adding to the position i'm staying with it and i'll identify a stop loss below >> apple seconds away. "the exchange" is now. thank you very much, scott hi everybody, i'm kelly evans. this is "the exchange. apple is expected to unveil a new iphone, but will it have enough features to get people to want to buy it now, and crucially at what price? we are so looking forward to hearing all of what apple has to say about that maybe an update to air pods. how are they going to update the air pods, dom? we're watching the watch it's a center piece of the health care push we'll bring you every apple

announcement as soon as it happens. let's start off with the stock, the investing performance we've seen ayear to date >> make the air pods black, maybe? small? i have no idea we're going to find out in this hour as kelly pointed out. let's provide color and context for what we're going to look at from the investing angle again, an an eventual event. and overall it doesn't seem to be a huge market mover on the day of going back to, say, 2007 to 2020 bernstein looked at the day overall and found on average apple stock goes down-down by about one quarter of 1%. as for today, it's off by one quarter of 1% heading into this announcement also in the week heading up to t this, we have seen a little bit of strength carry through for megacap technology overall apple specifically not participating on a one-week basis, down about 5% during that span some maybe selling pressure

heading towards this particular move in this particular apple launch as for how apple has done on a year-to-date basis versus the tech sector overall, take a look at apple up over 12% the technology sector is up 21% there, so it's underperforming and just about underperforming there, you can see the s&p 500 as well. so, apple maybe has ground to make up. and by the way, if you want to look beyond apple, there are some other stocks out there that could trade around what apple does today jabel among them broad com. ampheno and skyworks they have trading correlations, meaning they trade alongside apple in certain ways. if you're looking for more of these names, suppliers could be impacted gorks to cnbc.com/pro subscribers get a look at the

whole picture forsuppliers on the move >> dom, thank you very much. let's get to the news of the day. josh lipton is standing by with what we can expect from the big event. josh >> reporter: so, kelly is as always tight lipped about what is coming here here's what we expect here today. four new iphones, a mini, regular, pro and pro max, featuring upgrades we think to the processor, battery, camera important questions for investors, will apple raise iphone questions due to increasing memory costs and price hikes we know are coming apple has been impacted by the ongoing chip shortage like so many others, so how could that affect supply of the new devices. in addition to the new iphones, apple is expected to unveil a new watch today, a faster processer, larger screen it counts for an estimated 5% of total company sales. 13% of the iphone base by the way has a watch. in other words, they see a potential long runway here for more adopters in the quarters ahead.

also possible new ipods too. apple does not break out that product for us, but air pods account for an estimated 5% of overall revenue. air pods and watch both part of the broader fast growing wearables category that apple dominates with 30% market share according to idc back to you. >> josh, we'll see you again very, very soon. and tim cook did just take to the stage. for more on today's apple event, as i mentioned now officially underway with the ceo out there and shares down about a third of 1% as we head into that, let's bring in axios chief technology correspondent and tim higgins, "the wall street journal" reporter and cnbc contributor. great to have you both here. i want to ask you like we have for analysts and earnings, what's the whisper number? high, low? one terabyte for the phone what are you hearing >> you know, i'm really looking for that edge feature that's going to make somebody interested in buying this. we know we're going to get better cameras and a faster processer. we know we're not going to get a

radical design overall so, what is it about this new iphone that's enough on the edge to upgrade their phone >> this is important because apple is facing huge supplier pressures. tsmc increasing prices 20% don't know how much of that is to apple specifically. but if they can get people to buy the most expensive phone and that's built in with still having a decent profit marge skpn the rest of it, that's the best outcome >> absolutely. look at the phone. the past year analysts estimate that average selling price increased by about $100. that's an important figure the average customer probably didn't feel that because there's been a battle among cell phone service providers in the u.s. to get them into their 5g networks. so, a lot of buyers think they're getting maybe the cheapest phone they've had in a while. >> tell me again why they think it could be the cheapest, and what is going on on the carrier side of this where they're still discounting those phones heavily. >> it would seem a return to the cell phone carrier subsidizing the phone. so, people talk about getting

hundreds of dollars off their newest iphone. we expect that those kind of battles to continue into the next new phone, and that's important because on one hand it allows apple to go out there and offer a more expensive phone, appeal to people at the higher end. but they feel like they're not spending that kind of money. they're not spending the thousand dollars immediately out of their pocket. maybe they're getting discounted by a few hundred dollars so, it's a deal to them. >> and what do you think is going to say to people, okay, i do want to upgrade here. i am going to go for the one with the most features is extra storage space, for instance, is that a big incentive? >> well, storage space can be nice especially if you're one of those people who's filling up their iphone, which many of us are. don't forget, as the camera gets better and takes more impressive video, that fills up your phone faster so, that's one thing i'm still looking for a surprise software feature i still think there needs to be some cool something that really

pushes it. but as tim points out, you know, a lot of this has to do with how aggressive the carriers are being. and if your phone provider makes it, you know, cheap enough or not expensive enough that you don't notice it, you'll probably go ahead and do it so, i agree that actually as significant as anything that apple itself does will be the degree to which the carriers are fighting amongst themselves and providing hundreds of dollars in subsidies. that will probably be what drives the upgrade >> how can the carriers afford to give away such subsidies right now when they also have to build out 5g don't they need every incremental dollar to plow into those networks to attract people to 5g? >> in ia sense, although they'r building these 5g networks already. so, what they need most of all is customers on that network they're making a bet they're saying if we can fill these 5g networks, we can make it up over the long run. these cell phone plans, i send a fair amount of money

i'm not crying a tear for t-mobile and at&t and verizon that they're not going to be able to make money off this too. >> the question is how long can the battle continue? how long can apple continue to benefit from that? and analysts and investors are worried because traditionally that kind of off year iphone doesn't do as well as that big supercycle phone so, this is the big question how long does the battle continue >> and finally, tim, before we leave you guys for the moment, what would you say about the revenue contributions from watch, from air pods like josh was saying we're talking 10% or so if you combine those. important in terms of having dazzling buzzy new features or more important for investors to know they're going to have places to kind of count on cash flows really for years and years to come? >> important example of how tim cook has been able to squeeze that apple ecosystem just even more so, you've got the phone and then you have these other

smaller legs that just contribute to the bottom line. >> all right a quick parting word, apple shares are down three quarters of 1% now. it doesn't seem to be on any news yet per se, but is that the angst you were talking about off the start, the sense of no one really knows what it is they're listening for or like you said, you're hoping maybe there is some dazzling software feature >> yeah, and i think you brought up -- or josh did in the intro -- this idea that apple often trades down on news and on the event. so, i think, you know, investors don't necessarily know what to do >> by the way, tim cook did just unveil a new ipad saying ipad business is up about 40% year-on-year let's take a quick listen. ♪

>> this new ipad is packed full of updates, so let's jump in under the hood is a more powerful chip. a3 bionic. and it pushes even further than the speedy a12 from last year's ipad with 20% faster performance in every aspect of the chip from the cpu and gpu to the neural engine a13 is -- >> again, that's apple unveiling the new ipad was i just in their metaverse? what was that video? it was pretty cool >> as long as it gets a new ipad, i think they're happy. one of the things i've noticed is because events because they're virtual, they can be even more produced so, basically you're watching an hour-long or possibly little longer apple commercial right now, highly produced -- >> about 90 minutes we understand guys, thank you. really appreciate it we'll leave it there for the time being, but we're going to

keep getting to this news -- i'm sorry. before i dismiss you altogether, as i've been trying to do here, tim, why don't you just give me a quick final comment. is there any substantial importance to them unveiling the ipad you think >> almost expected we were at kind of the end of the line we'll start to talk about the next ipad early next year. >> okay. piffy. thank you very much. we're going to have a lot more on apple's big event as we watch shares trading toward session lows right now we're keeping an eye on coin base piper sandler says it's time to buy the dip and the stock can rally more than 30% from here. we have the analyst here to make his case coming up >> announcer: this is "the exchange" on cnbc. zero-commission trades for online u.s. stocks and etfs. and a commitment to get you the best price on every trade,

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welcome back to "the exchange," everybody let's get a quick check on the broader markets. the dow is down almost 300 points now despite the tamer than expected cpi data helping markets. dow is the underperformer. it's on pace for its biggest monthly decline since january. always seems like it's september. my next guest says investors looking at reopening stocks aren't going to find growth there. he says a new american economy

is emerging and pandemic outperformers may once again lead the way let's bring in kevin mann. kevin, it's good to have you is apple part of the new economy. who else is in this basket >> apple is certainly part of the new environment. someone suggested that the growth opportunities of stocks within countries within industries that benefitted and performed well during the covid-19 have likely subsided. so, the contrary, we believe that some of these areas may, in fact, provide the leadership to the new american economy that is slowly emerging from the pandemic as you said in the opening, this goes way beyond the simple reopening trade and marks what we believe to be a societal shift in the way that both businesses and human operates in the area such as health care, notably biotechnology, technology, but not just traditional providers of technology, such as mainframe hardware or software, but some of the more revolutionary providers of technology like

artificial intelligence, robotics, cyber security and of course the last but not least is ecommerce. >> what about the hard stocks like peloton, zoom, some of these that are obviously part of the new economy, although they could argue maybe peloton is more of a fad. but my point is about the valuation. so, you want the right story but also at the right price. >> absolutely. and with valuations remaining stretched right now, you need to consider the price to earnings ratio of a lot of these companies. you also need to look at the earnings history, the profitability of these companies and their forward looking outlook. with these companies remain as part of the new american economy in the months and years ahead? it's hard to argue that biotech is not going to remain critical as there are more and more rare and chronic diseases for us to treat and cure it's hard to imagine a society where we're not shopping more and more online. and then of course working and educating and shopping more remotely than we ever have before that's why we see the

opportunities in these revolutionary technology areas, ecommerce, not just the online retailers, and of course in the smaller tech biotech news. >> regeneron is one of the ones recommended in health care, service and tech how many names overall are in here >> we just deposited a new series of our new american economy trust last week. it has 30 different names spread across those three areas we have large skap providers of technology we have the smaller cap provider of technology as service we have some of the online retailers, megaretailers like amazon and smaller retailers like etsy. and of course on the health care side we do have some of those traditional large cap pharmaceutical names like bristol meyer os johnson & johnson and small tech names like regeneron >> i guess a final question would be -- it's interesting to see the reopening stocks screech

to a halt recently the airlines taking a step back and so forth so, who is not explicitly not in the new american economy you would have to argue on some level airlines are still part of it >> i mean, airlines, travel, transportation will always be part of the american economy but if i'm looking for the innovators in the leaders in the new american economy, you have to look for where the biggest growth potential exists. and that's in areas such as online commerce, certain areas of health care and technology. areas like blotching and even 5g that's going to propel this economy forward and allow us to operate within these new norms that society is asking for >> all right kevin thanks for joining us to talk about it. we appreciate it good to see you today. >> my pleasure, kelly. apple just announced an ipad mini as well they will make available next week. it will have a usbc port and

will have 5g as the push into the new wireless technology continues. switching gears from apple to a very under the radar stock play or commodity play if you want to call it, kristina partsinevelos is here with the minl making moves. >> move over gamestop and amc, there's a new kid in town, uranium. shares are going nuclear over the past 24 hours. take for example north shore global mining etf, yes it's down today but it surged 8% yesterday, last friday volume hit an all-time high. today we are seeing profit taking because so many of these mining firms have done well over the course of the last little while. for example, canadian producer cameco saw some love uranium doesn't trade on public markets like other commodities we usually get the one price per day for the cne. and based off yesterday's

settle, uranium prices were at the highest level since december 2012 year-to-date, up 41% although wall street bets talks of uranium miners, it could stem from a trust sprott asset management started the trust with the intent to biophysical uranium and holding it it started aggressively buying the metal. right now it's the largest fund holding physical uranium in the world. the fund so far -- and i've just got this confirmed from the company. they hold 25 million pounds of a compound of uranium. just one day last week, they bought 850,000 pounds of uranium. and holding this much uranium could mean they become a major market mover over the course of the next several months and years from now and this could be a long-term play, especially for those following the esg movement because investors see nuclear

power as a critical part of the shift away from fossil fuels when utilities use the metal to generate nuclear power, there are no greenhouse gases. so, that could be a selling point maybe deep into the future >> it's interesting because this is kind of fitting in with the global energy crunch story right now where whether it's the price of natural gas or oil or in this case uranium, everything is spiking even though germany and other major players are phasing out nuclear power. i think even california is taking the diablo offline. but they are going to have to find this clean firm power to keep the lights on this is a growing problem across the globe, and i wonder if that's contributing to the chase here >> could we forget what happened in 2011 in japan with just the nuclear plant over there and the drama? i don't know if this is something that's going to be -- you mentioned just the lack of movement with nuclear plants we're not moving that fast there's still a lot of hesitation, despite it being more green than other options. i don't know i think this could be potentially a much longer term

play but in the market right now, it's adding to the volatility, as this one particular fund does snap up a lot of the compound of uranium. so, that could be a mover for the short term >> absolutely taking advantage christina, thanks very much. kristina partsinevelos coming up, kathy wood remains bullish on crypto, saying bitcoin could hit 500,000 in the next few years. what about the regulatory risks it's facing? we told you about the companies facing supply squeeze. some are dealing with it better than others. we'll talk about the manufacturing moves they're making and where they're going coming up.

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hi, everybody. welcome back to "the exchange. quick check on markets we're off the lows dow is down 240 points the worse of the major three nasdaq down 21 right now shares of herbalife are plunging 18%, 19% now after the company lowered its guidance for the third quarter setting softer than expected sales activity this stock is on pace for its worse day since 2014 take a look at casino operators dealing with a double dose of bad news, new covid outbreaks in china raising concerns then comments from the government suggesting more regulation could be on the way and u.s. shares of las vegas sands down 11% wynn and mgm down today, worse day for most of them since march 2020 shares of comcast are lower after michael kavanaugh warned of a little bit of a slowdown in the ads in the cable business. he made those comments at a bank

of america investor conference that's leading to shares of charter and al tooes comcast down 6%, also having its worse day since march 2020 let's get to rahel solomon for a cnbc news update >> hi kelly. secretary of state antony blinken on capitol hill again today defending the biden administration's withdrawal from afghanistan. but a top senate democrat had sharp criticism for the administration >> the execution of the u.s. withdrawal was clearly and fatally flawed this committee expects to receive a full explanation of the administration's decisions on afghanistan since coming into office last january. there has to be accountability >> and for more on how congress is responding to the u.s. withdrawal from afghanistan, tune in tonight to "the news" with shepherd smith. the united kingdom will begin giving covid-19 booster shots to people 50 and over

starting next week boosters are recommended for vulnerable populations, including frontline health care workers. pandemic relief payments helped ease the hardships felt by many americans during the pandemic despite the congressional aid, the official u.s. poverty rate still rose slightly last year to just over 11%. you're now up to date. kelly, back to you >> rahel solomon, thank you. up next we get back to the big apple event. we'll have all the details and our panel weighs in. apple shares coming off session lows we're back in a moment [crowd cheering] how's sanchez looking? with your qb's increased spin rate, any pass with a launch angle of at least 43 degrees puts sanchez in the endzone. you a data analyst or something? an investor in invesco qqq. a fund that gives you access to nasdaq-100 innovations like ai statistical analysis software. how am i gonna do? become an agent of innovation with invesco qqq.

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. welcome back, everybody. got some news from the apple event on the watch and the ipad mini let's go to josh lipton for the latest and greatest. josh >> so, kelly's apple's announcing those products fast and furious. coo jeff williams on stage unveiling the watch. he is discussed as a possible successor to tim cook some day watch series 7 here, longest display yet, 20% more screen area, new case with rounded

borders, new watch faces, the most durable watch yet, water resistant, all day battery life, charges 33% faster, still waiting to get availability and price details on that one. i want to talk quickly about the ipad we know that business has been a hit for apple and enjoying a real tail wind as people are learning, working, playing from home they just announced a new ipad its entry level ipad gets a makeover, faster processor, upgraded camera system, all day battery life, twice the storage. that's going to start at $329. $229 for schools they did unveil a new ipad mini. apple promises a big jump in performance from that device new design, enl to edge green, updated camera and speaker systems. 5g enabled that starts at $499. order today, available next week we're going to keep bringing more headlines as they come.

>> we are getting the pricing for the watch. looks like the sc starts at 279 and they also have a version that is going to be $399 that's the watch series 7. look at shares of peloton as well, which are headed to session lows what do you think those investors are most unhappy about as apple shares these details? >> well, i think, listen, the apple watch is always marketed very carefully here as a fitness device, as a health monitoring device when you talk to analysts, kelly, the watch they don't break that out for us. we depend on analysts to give us their best shot. they think it's 5% of total revenue. when analysts are bullish on that device, it's because they think it's going to keep accelerating as a true fitness and health monitoring product. apple continues to innovate there. they're working on temperature, blood pressure monitoring, glucose monitoring we don't expect those features now but down the road. only estimated 13% of the iphone base has had the watch that's why some people think if

they nail this product, that perhaps suggests a long runway for this product ahead >> it's definitely gotten a lot better over the years. josh, thank you for now. apple talking about fitness plus being available in six countries. for the peloton users and investors knowing that the subscription business is so important, apple is playing up its rivalry there. apple shares, let's bring in steve kovach from cnbc.com steve, i just want to highlight apple shares going back toward session lows down three quarters of 1%. what would you add at this point? >> to josh's point, it's the apple watch, it's a little bit disappointing. it sounds like more of the bigger features are coming next year such as the temperature check, the blood pressure check. we know tim cook's vision for this is to really make it kind of like that star trek triquarter that can read a lot of your vitals and give you a picture of your health we are way off from that and basically today's model can do pretty much everything as

last year's but you do get that bigger screen and more durable casing >> i think i might be the only person who liked the watch so much i stopped wearing it. it is very good at what it does, but sometimes we all need a break, you know? >> yeah. >> i'm addicted to mine. >> i want to try out the latest. >> steve is still wearing his. >> i often will try out the latest model but i'm not a regular everyday apple watch wearer i'm waiting for it i'm still waiting for that feature that makes me not wear it for a little bit and put it down >> it's very helpful, briefly training for a race that lasted about two weeks. regardless, being able to wear it and have the heart beat monitor right there, have it track all of your workouts, all of that, i could absolutely see the use. i think in this case, ina, as well they're talking about it having a fall detection feature. we've seen major health insurers announcing support for it. >> they've had fall detection for seniors. this is fall detection for

cyclists so, trying to add one more thing for the exercise crowd i do think the point you raised, i think there's an opportunity here for older americans make it a little simpler, i think, would help. the hard part about the device for older people is it's got that tiny screen and it is hard to input on. >> it is hard to use obviously siri's detection is getting better and better all the time but they're also making more changes to try to make text input easier >> yeah, i'm not a big fan of that they kind of try to ram a keyboard onto this tiny screen it doesn't make sense. the apple watch is at its best when it's passive and doing things in the background as opposed to an iphone replacement. six years ago, everyone was betting it was going to be the next iphone. even apple was pitching it that way. it's not what the product turned out to be. >> also i think there's a little bit of attention between wanting the ability to use it all the time but not wanting to use it

accidentally it's a great tool for moms -- i say this all the time. if you're looking for a gift for a baby shower or something, give her an apple watch because you never have a phone you never have a free hand it's somewhere in the house. the little one that you're holding, i've accidentally sent voice recorded text messages to my neighbors that's also part of the reason i stopped wearing it i don't want people hearing random snippets of our chats and i don't want to have to unlock it all the time. >> no, you definitely don't want that >> as i share tales from the household here, what do you think is the most important as the event goes on and getting toward the end, but when we start to get details about the iphone 13. >> yeah, it's the iphone if you see me turning my head over, it's playing in the background here. it's the iphone. that's what we're waiting for. yes, they're going to wait until the end.

one thing i'm curious about is the pricing of the iphone. the chip supply story has been hitting every industry even apple warned about it in their last earnings. so, are they going to raise the cost or absorb the price of those components themselves? that's the most thing i'm curious about. it sounds like based ton rumors the iphone is going to be an iterative update >> the shares could be a much bigger move. let's talk about the fitness plus subscriptions and subscriptions they offer they called this event california streaming, and how important are these streaming services for the company >> they've been great for apple. again, everyone's waited for the car or some really big new thing to drive apple and in the meantime they've incrementally just added these businesses, first apple watch, then air pods, then services and these are significant businesses i mean, they would all be, you know, fortune 100 companies on their own. and the services, i think do matter they matter for stickiness once you subscribe to a couple of these services, you're even

more likely to stay in the hardware ecosystem so, they play off each other and they add a lot of revenue for the company. >> all right there's also shares of ww, formerly weight watchers, down almost 5% again as the field becomes more crowded with the health apps. it's more important to be one of the leading ones thank you guys for your thoughts as this event does continue this hour it's certainly not over and we're still waiting for some of the biggest news items of the day. coin base could be in a long fight with the s.e.c the stock is down about 12% since last tuesday up next we'll hear from an analyst that says that is dond shares are seeing a rebound today. we're back in a moment hat. okay, imagine this... your mover, rob, he's on the scene and needs a plan with a mobile hotspot. we cut to downtown, your sales rep lisa has to send some files, like asap! so basically i can pick the right plan for each employee... yeah i should've just led with that...

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apple just announcedthe new iphone there is tim cook. we'll bring you all the details about this as we get it. just such an incredibly produced event this year. we've been hearing people talk about that all hour. but the technology that went into this video stream they're showing with the launch of the phones t ipad, the watch and so much else is truly next level. three quarters of 1% we'll come back, circle back and give you the specs of course, the pricing and all those key details as soon as we do get them in the meantime, let's pivot, look at shares of crypt coe exchange coin base still down sharply since the ceo went public with an angry response to what he sees as threats by the s.e.c spoke with kathy wood. she was surprised the s.e.c. had coinbase with the wells notice listen >> i was shocked when i saw wells notice are you kidding? they haven't even released the product. what is this and i think what that wells notice is doing, it's a callout

by regulators saying, we've got to discuss this stuff because this is happening very quickly and i think we are going to bring courts into the system >> piper sandler analyst has a new note saying the coinbase may be overdone. it's good to have you here let's talk about the s.e.c. wells notice, any action that may be coming from the regulatory group why aren't you more concerned about that >> well, i tell you, the one thing the industry i think doesn't need is more regulatory clarity and transparency this issue was sort of a colorful issue and it's really hard to explain. i don't think kathy wood could explain it but i think ultimately the regulators are battling for, you know, responsibility and they're moving fast. and i think the end result is

going to be -- overall is going to be more clarity and transparency when we get through some of these squirmishes like we had this past week or so. >> which is not dissimilar from the big tech platforms begging for regulations so they don't get crossed with the regulatory issues as well with coinbase, because this wells notice has been served, what's the worst case scenario for investors at this point? >> i think the worst case, you know, people are viewing this product that they had is no longer, at least temporarily not available. other platforms are doing the exact same lend product as what coinbase proposed. coinbase is known for being cooperative and collaborative with regular taylors in fact they've communicated over six months on the product it's really -- i scratch my head it's really surprising how they came to this stalemate but, again, i think it's -- you

know, when you look at the long term, this is just one issue that i think ultimately is bringing a lot of light and a lot of attention right now but it'll bring regulatory clarity and transparency, you know, over time. >> what happens to the lend product because while it's in this sort of gray zone, as coinbase itself was pointing out, everybody else is doing yield products that offer far more than 4% and coinbase obviously stands to lose if users go and put their crypto on their platforms instead. >> you're absolutely -- i believe given the way coinbase's relationship with regulators, how they interacted with them prior, i don't think they're going to do anything i thought it was pretty aggressive they voiced it as publicly as they did but i don't see them at all pushing the s.e.c. further but what i do see is more contention being brought onto

the space. and this space, i think, kelly, the bigger, you know, question is, it's still in its infancy. and the bigger question is you need regulation, you need transparency even chair gensler today in his prepared testimony in front of the house -- excuse me -- senate banking committee, he talked about the need for more -- for regulation and protection of investors. this space -- you know, we've seen big technology changes in the past and this is, at least in my belief, is a big one present and it needs -- you know, we're going to have to work our way through these regulatory ups and downs and bumps in the road. >> sure. and i guess that would be what you see it as, as basically a bump in the road there's also more competition than ever. you know, there's venmo trying to get into the space. paypal is a parent company there's robinhood itself and how much crypto activity is going on in that platform

you have a $335 price target we're around $244 today. how do we get to $335? >> we based it on 12 times our estimate for 2022 revenues other fintech platforms trade that now and, again, there's got to be competition. we've seen it in other industries the bigger thing, what we've learned from watching companies that were successful in big, early technology changes, they stayed focused on that industry. and i'll mention it deeper they stayed focused despite the zero trade offerings from bigger banks. it did take 20 years and we did finally build a zero commission. but i think we're a long -- there will be more competition on crypto pricing. but it's a much bigger space, and we see products evolving that we're not even aware. just like back in the internet

days, who would have guessed that, you know, amazon or google were going to be the companies that they were we're seeing new applications in the crypto and blockchain fields and fts. who would have guessed that fts would be as big as they are two years ago. so, the space is still evolving. >> yeah, yeah, absolutely. just to mention coinbase shares still slightly lower from the april ipo. but tracking the place of crypto, lately decoupling on regulatory issues. we want to check back in with you soon we appreciate it >> good talking with you kelly we are continuing to watch all developments from apple's product event today. coming up next, we'll get the word on the street what do analysts think of apple shares where do they see them going from here after being up 12%, 13% year-to-date apple up about .4 of a percent right now. stinton catch this show by lieng and following "the exchange" podcast. we're back in a moment

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welcome back, everybody. apple shares down about half a percent. they're off of session lows. we're getting new details on the

iphone 13. >> apple is giving details on the new iphone it will be called the iphone 13. under the hood a new chip, the a-15 bionic so this phone should feel a lot speedier. 30% brighter more power efficient, bigger battery. they have an upgraded camera and video system they're going over right now. sleek durability is also being highlighted. apple saying tougher than any other smartphone glass water resistance, five different colors still waiting for price and availability i'll get that to you when i get it. >> is there a video feature these cameras will be used for >> they're just going over that right now but certainly that's important. when you look at consumer surveys why people upgrade, it's often camera videos are way up there along with battery, durability, so it is important for those consumers. now the debate starts among those analysts

some say stick it on the sideline the iphone 12 was very strong. other bulls say even modest changes will be good enough given how many people out there are running relatively older models. >> josh lipton, thank you. as the product event continues we want to look at wall street's take on the stock. according to 73% of analyst, they have a buy or overweight on this name. a quarter say it's a hold. only 2% have it underweight or a sell in terms of price action, the average price target is $165 that's only 10% upside from today's trading point. among the most bullish, atlantic equities has 190 and webbush is 185. now, many companies say they're experiencing supply chain pain and can't get the stuff they need we've heard from some who have managed to weather the storm we'll see what those companies are doing right next on "the exchange." when my brother passed away. and a couple of years later,

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welcome back, everybody. earnings season is the time for companies to unload all their problems everything that went wrong or could possibly go wrong. many mentioned the supply chain this time around some didn't, though. what are those companies doing to manage it all better? let's bring in seema mody for the answer. >> spoiler alert, no company is immune to supply chain risks but there are businesses that are better managing this risk than others or finding effective work-arounds as companies struggle with port closures. lululemon is increasing air freight to move product and actively looking to ship production out of vietnam. others are leaning on suppliers in latin america steve madden shifted 50% of manufacturing to mexico and brazil another strategy consumer facing brands like victoria's secret

urban outfitters are ordering more product here in the u.s. to reduce the risk of delays. the longer term fix to this reoccuring supply chain issue is stw investing in robotics, and more. robots in warehouses, stores, delivery drones, fully automated planning, these are just some of the technologies that will be fully implemented by 2025 because, kelly, these big risks around disruption and challenges on the supply chain front don't seem to be going away any time soon. >> i thought it was striking that nike got downgraded on concerns about the vietnam supply chain again, you'd think the bigger you are, the better you can manage this and again the bigger you are, the more technology you'd have to manage this. if this persists into next spring, what's that telling us about everybody else and especially the small players if they're nimble because of their smaller size, maybe they can go elsewhere. >> i spoke with a consulting

firm that works with the big fortune 500 companies and the number one company they're being asked is where do we manufacture? the big answer to that question was vietnam a couple of years ago at the height of the u.s./china trade war now with covid a big risk in asia, lower vaccination rates and companies have to be a bit smarter about their exposure to those countries. >> the issues of availability and profit margins i do wonder because it feels like it hasn't sunk in for most shoppers because it is so early on that it could be a really weird supply issue when it comes to what they're buying for christmas. but maybe it's just so disseminated that people buy amazon gift cards. i don't know if the stuff that we buy itself is really what it once was for these major companies it still has to be the most important season of the year. >> time will tell how much of a delay we should expect as consumers. 3m talked about that on the call yesterday. >> seema, thank you very much,

we appreciate it seema mody for us today. that does it for "the exchange." everybody. thank you for tuning in but don't go anywhere because the apple event is continuing and "power lunch" picks up coverage right now. and welcome, everybody, to "power lunch." i'm tyler mathisen, and apple's big event is our top story this hour the iphone 13 is here. will it be a lucky number for big apple? the company unveiling new ipads and new watch features the event still under way as kelly just mentioned and we will bring you all of the headlines. solar panel sticker shock. prices rising across the board for the first time since 2014. it's supply chain, tsd materials cost we'll look at what's causing the jump and why it is creating challenges for that industry. and the untold stories of ceos

we unveil a new series called "working lunch." andy jassey will tell us something few others know about his early relationship with jeff bezos. hi, everybody. let's get you a quick midday market check the dow is down 218 points, the s&p down 15, the nasdaq dropping only 18 points at the moment let's take a quick look at bitcoin. back above about the 46,000 mark 46,748 back in the world of stocks, moderna is seeing a 3% jump today. it's up 315% this year also we'll check on shares of apple as this event continues. they have been bouncing around session lows as you can see there. again, session lows, let's keep this in context, down about two-thirds of 1% we're about an hour into the launch of what has been the iphone 13, some watch updates,