coming up, the top security pick at needham.to needham's senior analyst behind that call. that's next. this is bloomberg. ♪ taylor: new year, new threats. cybersecurity trends include new mobile risks. hackers are also expected to employ machine learning and attacks, and the cloud will prove fertile ground for compromise. let's bring in one of the renowned experts in the field, it is tom kellerman of vmware, he served under barack obama. tom, great to have you here. arguably, really 2020, one of the biggest years when it comes to cybersecurity and the threats. how big of a year are you seeing with all these different threats, election, hackers abroad, pretty much come to a head this year? tom: well, yes. it has become a functionality of conducting business in today's world. you have to appreciate all the major organized crime syndicates in the world have created businesses around hacking. you have rogue nation-states and geopolitical tension continues to manifest in cyberspace in things like the trade war and other events that o

the top security pick at needham. we will talk to needham's senior analyst behind that call.next. this is bloomberg. ♪ taylor: new year, new threats. cybersecurity trends include new mobile risks. hackers are also expected to employ machine learning and attacks, and the cloud will prove fertile ground for compromise. let's bring in one of the renowned experts in the field, , whoellerman of vmware served under barack obama. arguably, 2020, 1 of the biggest years when it comes to cybersecurity and the threats. are youof a year seeing? >> it has become a functionality of conducting business in today's world. you have to appreciate all the major organized crime syndicates in the world have created businesses around hacking. andhave rogue nationstates geopolitical tension continues to manifest in cyberspace in things like the trade war and other events that occur on a global stage. taylor: i wonder who is most at risk. i talked to cybersecurity experts who say it is the employees. who in your opinion really poses the biggest risk in 2020? >> i think there is a shift in how hackers

pink so situation is that it back to pakistan controlled kashmir especially and knows you know the needham venti edia and wanting debbie is very important and a to tell you a die they desk oh team have been to stand by to harsh weather it and roads have been chavez lent you so the only z. it dual well you know at the dos ports gorse and medicine that other thing the including kember the to but you know the had a cup of than a pakistani government nyc aplenty all cook the you know they had cup of does graham so the vet it is very harsh and at the villages and homes have been asked of our none to you at then dean trying their best buck definitely as their gold already up and they are facing the heart condition as row writes it so they're battling this the same barry disadvantage a from to snow fall a touch us about at the situation of those mountains villages that are basically a cut off what do we know about the people who are trapped there let me tell you something motorboat at this is going on to everyone is. another thing as i was just 4 months. most of. the people of the particular area

joining me now in berlin is jim needham. i know you are a car buff. that can go out and buy a $3 million for. how did this all -- a thrill million -- a $3 million for ferrari. how did this all come about? jim: starting with supercars. it is a perfect illustration of what we are trying to do at merj exchange which is create new invest -- new investment opportunities. these cars which are going for $2 million or $3 million are instantly worth double or triple that before the owner even has a chance to pick it up. this is one of those alternative assets like wine or artwork that has become very popular. what kind of interest are you seeing? jim: you are right. we are car guys and the value of cars has gone crazy in the last 10 years. we have this low interest rate environment. high wealth people are looking for places to park their money and they are putting it into things that they enjoyed including cars, wine, whiskey, and art. all of these asset classes over the last few years have performed really strongly. matt: you're looking at the mercedes. these

pakistan and afghanistan have been killed because of the severe weather in recent days the region's needham valley is the worst hit area people are believed to be trapped inside their homes birdied by heavy snowfall authorities have been forced to use helicopters to rescue the injured as many roads remain blocked by snow. the philippines coast guard has been busy trying to keep fisherman out of the waters the surround a tall volcano tens of thousands of people have been evacuated since it 1st spewed . on sunday but despite more warnings not everybody is staying away so many island organ reports from the province of. these coast guard c. a hazardous eruption could happen any time and trigger a volcanic tsunami on these waters and the need to ensure that the thousands of boats in the area remain anchored. there are those who refuse to listen up maintain the danger own the lake so we are here because we need to make sure that those under 30 years. we are now about kilometers from. what. is just a fraction of the total area the philippine coast guard actually called for now on a daily basis in

taylor: thanks to alex henderson of needham.r those new cyber threats on the horizon, we got insight from one of the most renowned experts in the field, tom kellerman of vmware. he served on the commission of cybersecurity under president barack obama. >> it has become a functionality of conducting business in today's world. you have to appreciate that all the major organized crime syndicates in the world have created business models around hacking. you have a rogue nation states with a dedicated cyberattack divisions. geopolitical tension continues to manifest in cyberspace. taylor: you know, tom, i wonder who is most at risk. i talked to cybersecurity experts and they say it is the .mployees who, in your opinion, really poses the biggest risk in 2020? tom: i think there is a shift in how hackers are hacking. they have moved away from a burglary to home invasion. they will take over and commandeer your digital transformation efforts and user infrastructure, website, mobile app and a network to attack your customers. your brand

web bush raising its mark up to $400 need h needham is downgrading it to a straight buy dan, i'll haveo push back because you're more bullish on apple. weeks or months, just some great execution. isn't it riskier to buy the stock here given how the multiple has expanded? >> look, in my opinion right now, you're looking at a super cycle for apple. in my opinion, when i look at what's happening in china, 10%, 15% above expectations, i think we're just in the start of what will be a rerating of the stock. right now, you'll get the services business. that's $15 per share but it all comes down to the super cycle. what we're seeing in the install base right here, i think we're only halfway through a rerating in apple, which is why i view the bull case now is $400 per share. i expect a strong being raised from cook and cupertino going into next earnings >> we'll round up and say the stock is at about $300 now $400 you expect it to move up better than 30%, but on what news we're not going to know if this is a true super cycle until, like, september, october probably at the earliest is the stoc

john needham, a pioneer of it there.at job of building that business it's also highly sponsor driven. >> not for us. >> no. people pay high, people pay a will the to come to our conferences. let me tell you why i think both or conferences and fortune have a long future ahead of them and by the way, this month is our 90th anniversary we've been around for a while. in a world where things are changing as fast as they are, this new wave of technology that has the potential to reinvent every business, top business leaders near peripheral version more than before a lot of that comes in face-to-face meetings. it's from networking they pay a a lot for that. sponsors pay a lot to get access to them. that is a thriving business for us >> you should know morgan work ed at a magazine >> i did i worked at forbes magazine. >> i have heard of forbes. >> it's a very interesting thing because fortune and forbes are headed in very different directions >> they are, which is my question for you you talked about that 40% of revenue being ti

to catch up with apple a new $300 price target, deutsche banks has a hold upping their target, and needhamhe way up to 350, downgradie ining from strong buo buy. >>> deutsche banks say they're cautious on the outlook, say citi's up side is limited after a big rally in 2019, but goldman adding to the conviction buy. >>>unless he -- and argues changes to the digital marketing loyalty and merchandising, driving sales growth of wjn up about 2.3% on the citi note -- >> i knew you were going for that one first. >> fair enough >> the thing that stands out to me is the -- only see 10% up si side. >> that does highlight how much up side is left in these names, necessary short term at least. >> on the citi, i'm with you, i think the banks are still interesting, they're still cheap, will perform at least as well as the market assuming the economy is okay, which i think it is. on apple, take a little money off the table is just fine donnell lose your position, but take a few profits it's catch-up game, as opposed to you should -- >> that's what it is i'm willing to pay a higher p.e., if i can't change

>> i could have easily go to apple, needham took it from strong buy no citi. goes buy to hold goldman goes buy to conviction buy. so let's talk about what the market really likes. if the market is really negative, then citi will be off from the deutsche bank call and if the market is sanguine as it appears, then maybe citi is the one to buy it's cheap it's been the best performer in the group. >> coming off the year with a great performance. >> great performance mike corback doing a great job i could have default with apple. that would have been easy. i like the citi call as a way to figure out what the market's going to do. if citi is down a lot, it says there's no reward here and there's too much risk. >> citi figures prominently in another story, one i've been following closely, xerox's continued attempts to right now to get hewlett-packard to the negotiating tables is really what it amounts to significant development this morning and the reason i mentioned citi is because it is the lead in what is a $24 billion financing package that xerox has secured. >>

208,000 shares of premarket volume, not exactly being helped along by downgrades over analysts at needhamong buy before. it raised the price target to 350 to 200 citing valuation after a tremendous 2019 performance. those shares on the move joe, i'll send things back to you. >> dom, thanks >>> google parent alphabet getting an upgrade or being upgraded joining us on the newsline, michael levine, research analyst at pivotal research. some of this doesn't seem that new but i guess you're significantly bullish on the cloud business under thomas? is that the bottom line, michael? >> i would say twofold, joe. one, you know, probably the bigger catalyst from my perspective was seeing the regime shift under, you know, sundar pa chi and it happened right at the end of the year but you had a filing with the sec about, you know, about sundar's compensation package and, you know, this is one of the first times we've actually seen alignment with respect to, you know, with respect to senior management and actually how the stock price performance. if you just look at this company historically, like the