. >> the streets are pre-eminent analysts on tesla on the stock's incredible start to the year adam jonasof this break. york state is buir the future of your business. with a nation-leading $150 billion commitment to infrastructure, we're creating state of the art, 21st century transportation hubs, constructing new bridges, bringing high-speed internet to every corner of the state, and committing to low-cost clean energy. with infrastructure built for the future, the companies of tomorrow can thrive here today. see your future at esd.ny.gov. the companies of tomorrow can thrive here today. dana-farber cancer institute discovered the pd-l1 pathway. pd-l1. they changed how the world fights cancer. blocking the pd-l1 protein, lets the immune system attack, attack, attack cancer. pd-l1 transformed, revolutionized, immunotherapy. pd-l1 saved my life. saved my life. saved my life. what we do here at dana-faber, changes lives everywhere. everywhere. everywhere. everywhere. everywhere. >>> waselcome back to "squawk alley. since january 1st, no one has gained more wealth than elon musk >> he's get

if you listen to adam jonas.ysting pressure to make adjustments pmt he takes the wac from 11% to 13% if the dcf and you get significantly better numbers and people are skeptical about dcf and a taken the auto deliveries up to 2.1 or 2.2 million. that's also a function of where the company said they would be company came in at 367,000 annual, the bottom end of the range and said north of 500,000. if analysts have to follow that or if they do, they can get to the numbers by 2030. obviously i've been bearish, wrong. i do think that a lot of the analysting feel the pressure to step in there be a find a scenario where they can raise prices it's snore analysis. he hasn't even -- this is not what adam does i'm not picking on adam. he is a great analyst comes on a does a great show. but the scenario analysis allow us to. >> see the reuters new in german tesla trying to build a gigafactory four in berlin but they were halted because they are trying to build too many trees. because they were trying to cut down too many tre

adam jonas, morgan stanley just in the last 15, 20 minutes said tesla arguably has the largest total addressable market of any company on earth that's again speaking to the fundamentals. >> first of all, i don't own the stock. i certainly would not short the stock. everyone is trying to find the reasons why tesla is advancing at the rate it is advancing. number one, there is unquestionably a push towards quantitative momentum type of trading. that he driving it hard. check the box on that. >> low rates >> profitability. >> liquidity. >> profitability. >> let's talk about what profitability means in terms of pure metrics there is no question that tesla is the largest company in the world that is not in the s&p 500. the barrier to get into the s&p 500 for tesla was always about profitability. you have four consecutive quarter of gap profitable. now they have registered the second consecutive quarter in april and in july, if they are able to post two more quarters of gap profitable, tesla is going into the s&p. that's bullish for the stock maybe we are pulling forward a lot of that bull

it got two price target raises on the street today, one of them from adam jonas at morgan nearly $1200uppedaggressive assumption that tesla can capture 30% of the electric vehicle market. apple on pace for its worst day in more than two weeks. hub into the terminal at gtv and take a look at the relative strength index, a momentum indicator. for apple, we are around record highs and retreating from the most overbought levels in about a decade. of course, above that 70 level on the rsi indicating overbought territory. right now about 76, so investors have been excited about this stock. maybe a bit of reality coming into the market today. finally, if you take a look at oil, wti crude is down by about 1.4% today. you have the likes of bhp warning about potential implications for commodity demand when we think about the coronavirus. elsewhere in commodities, you are seeing strength. old futures up by about 0.8%, -- ,old futures up i about 0.8% maybe a bit of a safe haven trade. that is giving a bit of a boost prices today. vonnie: kailey leinz, thank you for that. much appreciated. she's al

we had adam jonas on earlier today and he's talking about what jim kraker cramer is talki about. esg is hot. >> environmental, social, good governance and people pouring into favored stocks. tesla a perfect example of that. >> and if you look at this, let's say you don't look at it as a tech company. you look as an automaker and you say i believe the future is electric vehicles. electric over the next ten years. who else are you going to play now? you might think volkswagen or general motors might be a player inelectronic vehicle but do you have confidence >> not just that they have an $800 price target and wildly bullish and they said look, the technology for tesla is still ahead what competitors are coming to the market with. is that right? >> absolutely. and not only ahead but in terms of cost. if you look at their cost relative to the competitors right now, much lower costs. when you look back in the gigafactory, look, they control it they control the environment they're not having to go out and say hey, let me see your latest technology when it comes to electronic vehicle ba

we had adam jonas from morgan stanley on yesterday and he said it. >> anybody who has done any extensiveea, they will tell you we're nowhere close to seeing truly self-driving cars. and i don't mean a vehicle you can take your hands off the steering wheel when you're on a highway or for a short period of time that's not truly a self-driving car. a vehicle where you can see i'm at the stock exchange. pick me up and take me over to engle cliffs that's not coming for a long time the technology has to go really, really far it's complex. >> there's a scarce of individual companies if you have the big-picture view that petroleum is dead, the energy stocks have acted like that for a while that's a wasting asset what else are you going to buy with any market cap? and all of these sustainable mandate funds are raising all kinds of money and esg funds it basically becomes kind of the one emblem of that big-picture thinking. >> right. >> phil, for a company like tesla in the position where it is now, just operationally strategically, what does a stock price this high all of a sudden do for you, eit

joining us now is adam jonas, head of head of research at morgan stanley graed to hear from you todaycome. what's more unjustified, the sharp run up in these stocks or the plunge today >> i don't know what's more unjustified. i think there's a lot of nonfundamental factors that drove the stock up to almost touch the $40 level and we're just seeing the retrenchment on that it's a scarcity position of publicly traded space, which has a genuine economic outlook real economic value. not just for tourism, but way beyond that. in terms of transportation communications et cetera just got ahead of itself we published a report before the downgrade called even spaceships must return to earth we think it needs to settle. find a new level there is upside to a revised $30 target, but not enough right now relative to the volatility >> it was ironic that you downgraded the stock, but had to move your price target up to reflect some of the action so i would imagine a lot of people got in during the sharp part f that run up because you saw reports from all these new tradinging platforms of how many pe

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. >> meanwhile adam jonas of morgan stanley today says they're getting flooded with calls about teslaoes on to reiterate his relatively bearish stance that 2% penetration, it's too early to call winners. >> i just think that we're -- when i look at that deutsche bank, when i look at the movement in many of these banks, i say to myself, you know what, europe coming back, that 500 -- maybe 500,000 tesla plant next to berlin could be a winner, even as ford is closing six plants again, this was up in an interview. you either think tesla is a technology company on wheels, as i do, or you think it's had its day, which is hard for me to understand how it could have its day. >> they're cheering for their $400 million market cap company. >> they ought to take a nap. >> qualcomm does beat by 14 cents. revenue was ahead. david mentioned earlier they do see a hit not just from corona on their own operations but to the wireless industry at large. >> yeah, i think that was a shame they had to do that because 5g penetration -- they indicate where it is and it's actually quite good, it's a good story

for more coverage on tesla, on wednesday we have adam jonas.verything you need to know about electric vehicles. catch the premiere of our special program, ev's on the brink of change, this friday. coming up in one more day, democratic candidates crisscrossing new hampshire in a final push ahead of tuesday's primary. we will preview what could happen in the polls. this is bloomberg. ♪ taylor: let's get a check of the business flash headlines. foxconn has resumed some production at its main iphone factory in the province that neighbors the virus had province. local officials inspected monday to assess the company's virus prevention measures. it is not clear how many workers returned to duty, with foxconn changing its previous plan to postpone operations and instead announcing a strategy to stagger the return of workers. alibaba is planning to waive some of the fees it charges for merchants to list products to offset the impact of the coronavirus. it says it will halt fees for the first half of the year. the company mainly earns revenue from ads.

congressman eric swallwell seth goes day drinking with jonas brothers featuring the 8g band with adamarcello. ♪ [ cheers and applause ladies and gentlemen, seth meyers. >> seth: good evening, i'm seth meyers, this is "late night. how's everybody doing tonight? [ cheers and applause that is great to hear. in that case, let's get to the news president trump tweeted last night that he was looking forward to the world economic forum this week because the u.s. economy is quote number one in the universe by far [ light laughter ] which is a real slap in the face to prime minister glaxor [ laughter ] senate majority leader mitch mcconnell has unveiled his proposed rules for president trump's impeachment trial. and to keep things simple he revealed the rules by emoji. [ laughter ] vice president mike pence -- [ applause ] vice president mike pence will visit the vatican this week and he will have a great time as long as he doesn't look up [ laughter and applause they're just friends, right? [ laughter ] democrats today accused republicans of attempting to hold most of president trump's impeac

congressman eric swallwell seth goes day drinking with jonas brothers featuring the 8g band with adamuse the u.s. economy is quote number one in the universe by far [ light laughter ]

. >> jonas: the commission will be tak we left off on the regular calendar for items 15a and b, 2 henry adams street. this is conditional use authorization and office development authorization. >> before we start, commissioners, i wanted to introduce you to a staffer you have not seen in the room before. monica started with the department as an intern in 2015 working on a historic survey of soft story buildings and commercial district. she worked in consulting on regulatory compliance for section 106 in chicago and philadelphia, before rejoining the department, she couldn't resist coming back -- in 2018 as a preservation spec on the southeast team. and the fact that her first presentation to the commission falls on her birthday. we welcome her and wish her happy birthday. welcome. [applause] >> good afternoon, department staff. nowhere else i would rather be on my birthday. before you is the request for conditional use authorization to allow office use in a landmark building and office from the small tap, authorizing up to 49,999 square feet of general office use. the project site 2 henry ada