headwinds helping apple.alk to us about what we saw in terms of china and asian growth in general. forgetit is easy to apple has such a high presence in the u.s., it is very popular in japan. they are important markets where market has little -- were they have little market share. they have been losing share in that market to domestic competitors in particular. there are a few that have come on strong. virtuale a couple of unknowns that have come on strong and taken a bunch of the market share in china. the market has been tough. india which will be the fastest-growing smartphone market over the next five years is another market where apple has a tiny share. they have been trying to boost their share. the price point is high for that market so now they have less than 5% of the market, 2%. they have been trying to get their own retail stores which would help. they are negotiating with the to do manufacturing and that market which would help them bring down the price is little bit and compete more aggressively

with apple. after steve died, we would collectionsugh the of what was the best of the best, we discovered something very amazing. this was a tape that regis mckenna had made in 1980 of a 25 euros steve jobs making a 22 minute presentation at stanford on the race of apple and his vision for the company. we have digitized that and we put it on our website. it is never been seen before. we will play about two minutes of it tonight. i hope you will be as amazed as we were when you see it. idea what before going to think when we started out. we couldn't afford to buy a california -- computer. we got departs from different people. we worked out of designs for six months and decided we would build our own computers. so we built them. he was up till four in the morning for many months. everybody wanted one. it took about 40 hours to the bodies. these.-- build one of we helped our friend bill computers. -- build computers. that one day we would put circuit boards without the parts. i got the calculator, w

. >> can they beat apple services number? that will be a big one. >> apple services growing 18%. cash hoard growth, that $695 is the average selling price. >> i hope you're able to join us. thank you all. that's it for "closing bell." "fast money" begins now. >>> "fast money" begins right now. overlooking new york city's times square. tonight on fast, one of the most influential voices on wall street says to guy trump slump. the global ceo who oversees more than $2 trillion is here to explain what has him so bullish. plus, trump meeting with a number of drug ceos say senting biostocks surging. first we start off with the biggest story in the afterhours session, that is apple. the earnings in the last hour, the stock is rallying to the tune of more than 2% at this point. on strong iphone 7 sales. we have total team coverage. josh just spoke with tim cook. plus, mr. apple himself making his red phone debut. he is monitoring the call onsite and will bring us instant reaction. and john skulley will be here later to weigh in on the results. first we go to the traders on the desk. dan

apple is your favorite.y smiths that i use in this puff pastry tart are nice and tart and gives it kind of an acidic crunch. ♪ takes a little practice. gonna cut the apple directly in half, just on the side of the stem. you'll see how close i got to the seeds. seeds here, no seeds here. the way we want to cut this apple is to cut in very thin slices. of course, with the help of your parents, you, too, can do this. make slices about a quarter an inch thick. a little bruising is fine on your apple. it just means it's a little sweeter. you want to put all of your apple slices into a bowl with water and lemon juice. this will keep them from turning brown. once your apples are cut, you can start with the puff pastry dough. you can find this at your local grocery store, supermarket, wherever you go to find puff pastry dough. they come in big long rolls just like this one, but we're only gonna use about half. can use the other half for later. you want to cut the puff-pastry dough into rectangles. i use a pizza cutt

we need to see apple's shift towards making services something cool within apple. then second, china. so china -- the china decline in the last quarter was awful. it was a very big decline. if we see china coming back up this quarter, that's a very good sign. china was heading for 25% of apple's revenues last quarter it hit 19%. we need an upside there. >> just quickly, some of these concerns already out there. you don't buy the argument that the valuation is low enough? the cash balance is high enough that it means it's a buy despite headwinds? >> we have a sell in apple at the moment. there's five things that would make it a buy for us and would probably hear some of these in the results. number one, a new product line to replace the iphone. that could do with cars, ai, vi, home. number two, better investor communications. apple has been secretive until its new products until now. it is the world's largest company, we need to know how it is spending research dollar. number three, acquisition. apple missed time warner. it may be looking at netflix. something to gi

the idea of the era of apple being over. when did the era of apple start?s he talking about the iphone? is he assuming that nothing is going to come after it? it speaks to the mind set around apple being the iphone and nothing else. >> the iphone is very important. let's be clear. it's easy to say something. it's more complicated to say something of complexity. what he's getting to is can apple continue to innovate and move beyond the iphone has been the juggernaut product. the products have been the watch or the ear bud. they are not blockbuster products. so the question is can apple continue to innovate in the space. their blockbuster product is hard to innovate on. nobody expected the iphone. who knows where that's going. as to the other parts of stuff he said, why talk to "the new york times," of course, they talk to the "new york times." this is all a thee it yat ri call play that is happening here. . they attack and give interviews wp they attack the press and cozy with the press. this is all a circus and theater. people should see that for what it is

at the -- apple is set to unveil its cap anniversary edition that some are calling the apple iphone xm cook has highlighted the .usiness going pretty steadily certainly, that will be a critical component of the outlook. the search for any kind of growth in the face of headwinds is growing more urgent. any update on that issue will be of huge interest to investors as well as commentary related to the u.s. or the eu. we will follow the earnings after we crossed the opening bell. we have got full coverage. joe: since president trump took office, he has made it clear he plans to follow through on campaign pledges including following -- finding a way to make mexico pay for a border wall. mexico is adamant that will not happen. bloomberg markets spoke with the of mexico -- former ambassador of mexico. was asked where relations stand between the u.s. and mexico. antonio: i think after a year of campaign rhetoric, much of it -- at mexico and mexicans as rapists and criminals, there was hope there would be a combing -- calming period. certainly that would accompany any administration, but i th

dow component apple will be reporting. we will be all over that number and before that we'll talk about what to expect as well. >>> president trump has been busy again today meeting with pharmaceutical ceos this morning. he's about to sign another executive order. this one on cyber security and we'll bring it to you live as soon as it happens. >> they're meeting on that right now, as a matter of fact, at the white house. plus the ceo of coach will join us exclusively to talk about the luxury retailer market and how the new administration could affect his business. this should be very interesting. i'm very interested to hear what victor luis has to say. 40% of their profits come from overseas. >> and a lot of what they source comes from overseas with those handbags not made in the u.s. under armour shares story of the day plunging. levels that this stock hasn't seen in more than three years. it's losing 1/4 of its value. pretty much been there all day. the analysts who predicted a weak earnings report tells us whether this

analysts remain bullish on apple.e iphone eight will shatter all previous sales records. caitlin forat was us. since the iphone took off, apple has been under pressure to prove it can re-create the success. michael wolff is here. does apple still haven't? michael: they definitely still have it. with 100 million iphones used in the united states, they are poised for a large percentage of that base to upgrade to a new iphone eight. they have a lot more coming. it is likely that they will have ,uch more integration of theory their own messaging app will have bots and another functionality built in. let's not forget, there will be a new operating system next year, likely in the middle of the year. apple already has everything they need to be successful. they don't have to have all of the market. they can skim off the most profitable customers, the ones who will not only by their phones but who will participate in the itunes and app store. caroline: you are sounding bullish. over the past decade since they launched the iph

apple watch sales have slumped.le have come under criticism for -- that has led others not just teal to question if the company has lost its mojo. since hitting it's all time high back in april of 2015, apple has dipped into bear market territory twice and remains more than 10% off that mark. apple is reportedly planning a push into original content. the company is looking at just a handful of shows, though. not looking to spend the hundreds of millions or billions needed to compete with next flichl or amazon. show some restraint. apple was not the first with the ipod or iphone but it was incredibly successful. apple has hinted at going full throttle with original content as its reportedly pondered. it does have the war chest of $230 billion in cash to make a run at it if cook decides to. so even if teal is right and there is no more innovation to be found, the apple age in media may just be beginning. one more thing, a very happy 10th birthday. we've been enjoying the coverage and the celebrations very much this we

because apple invented the iphone. and the app store. the question now is whether they're going to keep on doing what they're doing selling computers and ipads and phones or whether they're really capable of having another came changer. right now analysts don't see another massive game changer on the horizon. >> but julia thanks so much. julia boorstin in l.a. >> delta airlines had a strong holiday season helped sales takeoff. the airline posted better than expected sales numbers while its lower profit fell in line with estimates. delta ceo said he expects a met trick to improve this quarter. >> the last two years our fares have been down. and while fuel prices have been down which is a good pass through for consumers, fuel prices start to rise, labor costs have started to increase. we need to be able to improve our fares. our year revenues up between 0 and 2%. >> delta shares were off 1%. the drugstore chain cvs it is selling impacts laboratories generic alternative to my lan's epipen for a much lower cost. they can n

stagnant, that is apple. it is ubiquitous plus their competitor burst into flames. >> we should all be as stagnant. melissa: stand by. we want to go to the numbers. ashley webster in the newsroom. ashley. >> they are flying in. 3.3, that is a nice beat of the 3.21 estimate adam was talking about. revenue, $78.4 billion, beating the estimate of 77.25. very quickly glancing at the numbers, number of iphone units shipped, 78.3 million. that is the better than estimate expected around 77.4 million. sales of the iphoneplus certainly boosting revenue in recent quarter, which included all important holiday season. melissa: thank you for that. lance, that is the number you want to hear. what is your reaction? >> not really surprised. excellent phone. people wanted it. they were excited about it. they were excited about bigger phone which may have helped revenue. definitely harder to keep in demand. i think there is significant pent-up demand for people who decided to wait for the iphone 8, because they expect a reall

if you had apple care you are still buying apple care. if you have apple music, you're still buying apple music. the services revenue is really correlated with the install base. and so what we look for is can apple begin to demonstrate that there are services revenues that are decoupled from that install base. apple pays a good example. usage per device is going up. moreover we think gaming and gayling apps is starting to increase. so if apple can demonstrate that there are parts of the services business that are meaningful and are decoupled from the install base, then it becomes a very different story. or if apple can ultimately prove that it can sell its phone as a service, so instead of it being a transactional item it can sell it, you know, for $35 a month and have you upgrade after two years, you know, then the equation on the company changes. but for now, most services are directly tied to the install base. so if you're not confident that the install base of iphones over the long term will grow, right now it's still growing. but as

>> apple does not come to ces.doesn't mean that apple is not here in some capacity having meetings in hotel rooms. but the question has been more about apple's advantage here in the ai space. siri was the first out of the gate. after that, it has somewhat stagnated. but apple has hired a guy from carnegie mellon who is a big name in the ai space. there is hope that maybe apple accelerates a little bit, but they have ground to regain eventually. >> that was alex webb and tom giles. besides covering serious stuff, alex has also been hard at work seeking out the wackiest gadgets. here is a look. >> this is the little robot from auto pets in michigan. the robot detects waste in seven minutes and wicks away the garbage and replaces it with a new cat litter. >> the utopia of technology, i am sure. 2016 was tough for fitbit. the wearables market is looking to pick up the pace. and coming up this monday on bloomberg television, eu commissioner will join my colleagues for an exclusive interview. join us for that conversatio

the apple --land case to your office? pivotal do you see the apple ireland case to your office?o you make the relationship a better between your office and tech firms in silicon valley? >> we have tried to make it clear that we have no issue or grudge against any company. what we are aiming at is behavior. for instance, the thing that happens if one company or a group of companies given aid that is not available to other companies, that seriously makes the playing field no longer level, and that is the issue. i don't think as a company when you are a competitive, when you have a competitive culture, you want to innovate, present the best products to your customers, well, how can you approve of your competitor having benefits that are not open to yourself? in that respect, of course, the business community is served by enabling their competition. caroline: margrethe vestager there. cyber threats remain a major concern for business and government agencies. this week, we got reports that mario draghi and matteo written rinzzi were among those hacked. our next guest says it is time

apples up into chunks. that would have been a large press in the 18th century. what have had a rectangular press with a wooden jackscrew that was great down and squeezed all the -- cranked down and squeezed all the apples. the pulp is basically what you are squishing, and from that, you get the juice. that was collected in buckets. from that point on, you're going to ferment that juice. we are fermenting this large barrel called a hog's head. 6% alcoholut 5% to content win you're done. -- when you're done. the fermentation for apples is longer than for whiskey, which was also made here, which was the main commodity. you are looking at 14 to 30 days perhaps of fermentation, depending on the type of yeast s that are used. at this time, we are fermenting champagne yeast, which is a little faster acting. it really took about 10 to 14 days to complete the fermentation. but in washington's time, they did not know a lot about the science of the yeast. today that is very much a trade secret in many places. they wil

i want to talk about apple with you. you had been a shareholder of apple. sold in april of last year. you sold primarily on china concerns. at this point when you take a look at the stock it's still trading at a pretty cheap valuation here. maybe the concerns of china are worse. i'm not sure. you said you expect a trade war with china. how do you look at the situation with china? is that enough for you to -- has things gotten worse, basically, under potential trump administration with china for to you say you know what i'm not going to go near stocks like an apple that may have significant dependence on china. >> i'm no great expert on china and i'm the wrong guy to ask. you know, we bought china -- we like to do them when nobody wants them, when there were problems there to some extent. that's what i do. i buy them when nobody wanted, it was on a downswing when i did it. and. people were negative. a lot of people negative on it. now the stock, we made a huge profit on it, obviously. and, by the way, the shell profited quite a bit. i think i was somewhat he

apple has sold over 1 billion iphones to date.ore than 850% to its peak in 2015. in 2016, strategy analytics reported that operating profit hit $9.4 billion worldwide. apple alone made of 91% of that, but with these numbers come high expectations. the iphone is now apple's most crucial product, making up 63% of revenue in fiscal 2016. that is worrisome to investors, because annual iphone sales fell for the first time last year, and apple's operating system held on to 15% of the market versus android 87%. stl, analysts remain overwhelmingly bullish on apple stocks. nomura believes the iphone eight will shatter all previous sales records. caroline: that was bloomberg's caitlin meehan. now, since the iphone took off, apple has been under pressure to prove it can re-create that kind of sales success. we checked back with activate ceo michael wolff. take a listen. michael: with over 1 billion iphones being used today around the world and 100 million of them in the united states, they are poised for a large percentage of that base to up

apple's view is going on with apple. apple's view isa is going on with apple. the new york times is no holds barred, it is just censorship of the media as far as they are concerned. absolutely, want to play by the rules that is what you have to do with china. let's talk about viewers' gadgets. i want to talk about the australian company that made more than 2000 times return on its investment. the ice—making machine. i love my ice—making machine. i love my ice—making machine. i have one of those american fridges at home. ice—making machine. i have one of those american fridges at homem ice—making machine. i have one of those american fridges at home. in a hot country. we might be moving soon andi hot country. we might be moving soon and i can't take it with me. i want the thingy. colin says it is his laptop. i imagine lots of people would say that, more powerful than a mobile and more mobile than a pc.- the other walked out and left your ipad at home and felt like you have left your right arm? i have gone back for it, it is not even a discussion. when you get to

apple back.re close to bankruptcy in the 1990's, and the first imac introduced by steve jobs brought apple back on the scene. over the next decade and a half or so, they came out with the the ipod, the iphone, and the ipad, and that has led them to forget the mac a little bit. the upgrade cycles have become lengthier. the macbook pro was the first update in over 500 days. the mac pro, their fastest desktop for professionals, has not been updated in over 1000 days. the macbook air design is the same design that was introduced in 2010. to be fair, they came out with the retinainch with display they want to replace the air with, but that design has not changed in a very long time. carol: why isn't it getting any love at apple? >> right, the first and most important thing to know is that apple has a responsibility to its shareholders, employees, and everyone really to come out with new products that feed their profits and revenues, and the iphone and ipad are two of apple's highest margin, revenue dr

we know washington made apple and peach brandy. the apples would have been grown in orchards on his property. you can see some right here. the type we are using are the newton pippin's and two other varieties we know washington grew. the first step in the process is they would have to be pressed or press whichn apple wouldes a device that crank them into chunks. that would be put into a large press with a wooden jackscrew that was handcranked down to squeeze all the apples. the pulp is basically what you are squishing, and from that, excretes the juice. it would be collected in buckets. from that point on, you're going to ferment that juice. we are fermenting a large barrel called a hog's head. this is about 6% alcohol when you're done. the fermentation process for apples takes longer than for whiskey, which was also made here, which was the main commodity. you are looking at 14-30 days perhaps of fermentation, depending on the type of yeast used. at this time, we are fermenting with champagne yeast, which is a little faster acting

claims apple signed.pple said, if you're subpoenaed by regulatory authorities, we're only doing what is right an just. that's what is at heart here. what apple wants is in a broader business case, business model, apple tries to have more than one supplier, that allows them to play them against each other, get lower prices and until last year, until the iphone 7, qualcomm dominated that. caroline: who wins out of this? it seems apple does not just ave to go to qualcomm. >> all of these licensing fees gave qualcomm a huge lead. that is getting whittled away. there is a potential for a market share shift there. but if you look at qualcomm's gross market of 50% and apple's s 140. -- is sub40%. what apple wants a a transference there. >> at this moment when iphone sales have declined this efirst ke de-cline since they came to market 10 years ago, that puts extra emphasis on how much money they can squeeze out of every single hand seth. they want recurring revenue for phones and if they can squeeze the profit m

covered apple. now we move to apple suing.emind us what this is all about. >> the fundamentals of qualcomm 's business is it gets its profit from patents. if you make a phone, you pay qualcomm. apple does not like that and they are trying to do something about that. caroline: it feels they pay too much because the percentage is based on the cost of the phone and not the cost of the part. what does apple want to achieve ?y filling -- suing qualcomm >> it agreed to pay big numbers to apple in exchange for apple not talking to regulation authorities. if we were subpoenaed by a regulatory body, we have to talk to them. in their broader business case, what apple tries to do is have more than one supply in a given component. they compete against each other and get lower prices. until the iphone 7, qualcomm dominated that part of the fun. caroline: who wins out of this? it seems apple does not just have to go to qualcomm. >> all of these licenses and fees have given qualcomm a hugely. that is kind of getting whittled away. there is a

it's free of apple.her than saying how much of a certain large customer might need them, they use that term because you aren't suppose to mention apple's name on any conference for fear of losing apple's business. skyworks talked about how all the devices needed to shift if they want to run netflix, spotify, and waze. as the ceo pointed out in what was a pretty electrifying conference call. if you want, and i quote, ultra-fast, low latency, highly secure and efficient connections as well as location based services, end quote, you need skyworks chips in that device whether it's a cell phone, a connected home with amazon's echo, or google's home or a connected car. and it's only going to get better as we await the rollout of 5g, which will allow you to download a full-length movie in seconds as opposed to the current iteration, 4g, which can download a movie in minutes or 3g that used to take a whole day. this quarter was all about what skyworks called, and i quote, growth and success outside our largest c

to apple's bottom line. is that if apple stops giving the mac less attention, people can make the ecosystem less sticky. the iphone, the mac, they all sink. if you don't use a mac, maybe you will look at other products from competitors like microsoft or google. oliver: i'm not an apple guy, but everybody else i see in new york uses macs and loves them. >> there is something to be said from a design perspective, if it is not broke, don't fix it, but the question is does apple need to continue to change design and innovate to spur sales into the future? these are higher-priced products. the average selling prices are much higher. it is important from a revenue and earnings perspective, but the bigger question is the processors, the chips, the speed. the pace of technology becomes faster and faster every year, and we are talking about computers that are supposed to be powerful for professionals that have not been updated in years, which means their processors, technologies, ports, some are years behind from com

apple has not publicly comments. in the newsroom cate cauguiran, kpix5. >>> take a look at this, a blanket of snow in the bay area. here's a look at the lick observatory on mount hamilton, all lanes closed but are expected to be back open at noon tomorrow. >>> radar is clear in mount hamilton, the entire bay area, first time in a long time we are rain free. snowpack looks really good. it was below 100% this time last week. it's up 65% in a week, had to be a snowy week, it was. central sierra 162% of average, the south sierra 191%, snowpack and reservoir is looking good, why technically we are out of our drought now. today that happened. oakland 48 degrees tonight, san francisco 46, chilly in santa rosa, watch out for black ice, the usually cold spot if you've been below freezing between christmas and new year's. that's you in concord and livermore getting close. watch out for black ice on secondary roads away from the bay tomorrow morning. a ridge of high pressure finally building in. we will end up with 12 consecuti

making apple cider brandy. the apples would have been grown in an orchard on the property. the type we are using are the newton pippin's and two other fridays we know washington group. knowirst -- varieties we washington grew. to press thep is apples, to crush them. they would have to be handcranked, to squeeze all the apples. the pulp is basically what you are squishing, and from that, you get the juice. from that point on, you're going to ferment that juice. we are fermenting a large barrel called a hog's head. 6% alcohol when you're done. the fermentation for apples is longer than for whiskey, which was also made here, which was the main commodity. you are looking at 14-30 days for fermentation, depending on the type of yeast used. at this time, we are fermenting champagne yeast, which is a little faster acting. time, they did not know a lot about the science of the yeast. everything,ll you but they will not tell you what type of yeast they are using. in washington's day, the orchard had naturally occurring yeast. he may very well have let that naturally occurring yeast

they need to look how they grow apple pay, apple music and the app store.investors look for in the earnings report. the earth issue, asfa nominal as the iphone 7 is, 2/3 come from the iphone that worries people down the road. liz: they want to see if there is a less mature product comes out. immature fresh one apple comes out. adam shapiro thank you very much. numbers come out after the belle, don't miss it. there is uncertainty surrounding president trump's executive orders that hit the markets hard the past two days, causing the dow to fall even further from dow 20,000. we're at 18,853. not that we can't get back there. with american business we will. let's bring in neil hennessey. he says it is temporary. we're about to add 5000 to the 20,000 we hit last week? >> yes. liz: how are we going to do that? >> doesn't take out if you average 4.5% incomes five years you're at 25,000. but our story hasn't changed since march of 2009. it didn't change when i was sitting here with you when the dow was 15,300. i said it would go to 20,000. this reminds me of 1982 t

from apple's report, jason weir, apple shareholder and financial cio.ndy, i'll start it off with you. this quarter may be the least important quarter for apple this year from an investor standpoint. most of the analyst research i've been reading say look through this because we know that december shipments were not good. we're going to have a big launch and apple shares will be ranged out a few months. what are you looking for this report? >> next quarter may even be less important. at th least you have the bellwether of december as the indicator of where baseline demand is. we're in the camp that you outlined, relatively in line. i do think that people will look through that to a certain extent the next cycle. >> why are you worried about march quarter guidance? >> you know, we've seen conflicting data points out of the supply chain and demand. demand seems okay. but supply chain has been sort of mediocre. that gives us a little back-to-back of concern that we might see numbers slightly below what people are looking for. >> i understand the iphone stil

apple stocks tanked today.e have a special report. >>> and i love gold. >> gold just did something it hasn't done since 2012. and the chart master says it could point to major gains in the year ahead. the action begins now. >>> let's get right to it, because 2016 is officially in the books. and the worst performing sector goes to health care. the only sector to close in the red. let's get in the money right now. mike, what do you say? >> yes, i think we absolutely should. this is a sector that ran head long into a political storm, and i think given everything that's happened this year, had we got and clinton administration, troubles would be just beginning. trump's going his plate full. there are names that are going to remain under scrutiny like the mylans of the world. but secelgene. >> he said in a time interview, we are going to bring drug prices down. >> that's the problem. you still don't know what the margins are going to be. maybe it's not going to be as bad as it was under a clinton administration, but

apple's down year over year in terms of unit growth. >> your outlook for apple?it's not actually that positive. i mean, we think over the next two to three years, we think apple's going to have a really big problem, because you can charge a premium for hardware if it's really differentiated. if i put a samsung phone in front of you and an apple phone now, it'd be very hard for the average person to tell the difference between that because they look so similar, they do so many similar things. i see the margins compressing. that's the issue i have with apple. and what can your phone not do that you really want it to? maybe virtual reality? but on a screen this size, i'm having a hard time thinking -- >> and that's not each pricing in the risk that the president-elect tweets about the company. we'll see what happens to apple in 2017. >> you need to tweet back. >> that is a job for cook, who is on twitter. dan niles from alphaone. carl, back to you. >> thank you, kayla. >>> let's the european close from seema mody back at hq. >> hi, carl. most european markets are in

facebook, apple, google, netflix all jumping. is the tech trade making a come back and should you be betting on tech in 2017. what do you think? >> it was making a comeback for the last couple weeks. this is also rotation. what was outperforming when yields were some question and i'm not sure why the bond market's selling off. the bottom line is it was growth -- value over growth for the good part of the last three months and now we're back into a place where -- you can't say even apple, i realize apple is cheap relatively to pierce, this isn't a value play. people are going back after growth. as it relates to tech, let's face it, amazon gets a halo effect when you see what's happened to retail and it's ultimately cementing a story that shows amazon when they want to turn on margins i believe they can do it. >> but in terms of 2017 trade they spoke netflix finally

make or break time for tech as apple, amazon, facebook reporting.here's something that happened in the market suggests one of them could be a buy. we'll explain what that is about. oneioowinecy,witaxe d, edd burg oneioowinecy,witaxe d, edd burg orone. d nie main >>> the scenes at the airports, did they disturb you? >> well, i came as a young student. and went to school at night and working in the day. seven years later, became the kro ceo of a major company on wall and then at at ethan valley. where else would somebody with a name like al-farouq. america is great. we must give that opportunity to others as well. >> that was ethan allen ceo speaking to "mad money" jim cramer moments ago about the recent ban from president trump. that brings us to our move of the day. the index fell to the lowest in months. as well as another computer outage from delta. many of the major airlines are down 2017. united and delta down 2%. america is down 5%. jet blue is down 14. southwest has managed to eek out some dpanls. what is going on in. >> i think this is gettin

cory: an apple has everything to gain here.pple would like to play the providers against each other. they are unable to do that according to this component. caroline: so do we see any share reaction? ian: intel revenues last year managed to get slowly ordered. we take those away from qualcomm from the first time in the history of -- cory: in the apple phones. ian: can the apple phones. a lot of beneficiaries there. they have just faded away. caroline: give us a timeframe here, something they are talking about over the course of weeks or years? ian: years. you have to think -- it is a court case. it will not just endure, go to court. you have all of what that entails. qualcomm cannot afford to let us go. they will have to appeal this as far as they possibly can. youline: cory, are surprised we did not see more than $4 billion? cory: the other aspect is, it was friday. we have another administration in. this is a democratically controlled fcc. that will change on friday. the result will be to members, which is very explosive, by

they are looking ahead to apple's rollout of the apple iphone x.afterthought even though it was the most important quarter for apple in the year. alex: the thing that will be telling looking into the march quarter and looking back at the , they will beer reporting the earnings for the december quarter and the outlook for march, it is a tell on how well apple's brand is holding up in the context of modest improvement on the iphone 6s. the big update is coming next year. the iphone 7 are still good, that shows that people are buying into the apple brand. it is not purely about the quality of the product itself. tie that to the iphone 8 or suggests at the brand is holding up well and it has significant upgrades, it could make a big hit and positive impact on their sales. thatet: the expectation they will cut off the muted sales for the iphone in the past three quarters looks promising. whenis a cyclical period the first quarter is good -- what do we need to look at to determine if this is a cyclical type of deal or the end of the negative trend? alex:

apple shares closed at 12195.y are is the mark. , had a good run. lauren: snapchat filing for its initial public offering. the ipo could come late this week with a valuation of at least $25 billion. if the filing does come filing does conversely, snape could go public sometime in march. cofounder and ceo of evans be cocreated snapchat just five years ago. nicole: not long ago, batista was the richest man in brazil. now he's been declared a fugitive and says he returns to brazil to turn himself in. he built an empire by raising billions of dollars to equity offerings into sales. he lost most of his $30 billion fortune after failing to meet production goals of one of the country companies. being investigated for pay more than $16 billion in bribes to the former governor of rio visionary state and he said last night is returning to brazil and will surrender to the police. lauren: today's "wall street journal." fear gauge with turbulence around the election. blanketed the u.s. stock market, european investors betting

if you look at internationally the region's work apple has its wheress, -- the regions apple has its a market they added late and if you look at the numbers, you can see that china is a sizable portion of apple's revenue. i think we have a chart that shows the numbers and it will show you just how important china is for this business. apple was able to add in china and have a great benefit from pacific,he asia about 24% of that, numbers from fiscal year 2016, but adding india could give them a lot of growth. already what we understand from outside sources, apple has seen about 50% growth without manufacturing, so india could be very important going forward. david: give us the history about how india has these norms regarding local source and these government limits in place. corey: what is interesting is india has strong roles, and in the context of what donald trump been talking about with many faction in the country, india has similar rules to mandate that. the india smartphone market has been dominated by samsung because they are willing to make things there. apple has a tremendou

look at apple. that's still 9% from its high. >> they buy back a lot of zpok it is a product driven story. if the dow will continue to eek higher, the dow could get back. >> we had financials lead, industrials lead, we've been waiting for this moment for 20,000 for about a month now. >> this is what it was like. these were going around the floor. we set these out. we didn't want to pay for overnight shipping. we got them today. dumb luck. there is something for everyone. tim said about financials, you've had industrials, everything lead. now the market as a whole will go higher. these are very important mile stones. you look at the 5,000, the 10,000, the 20,000. they do pull everyone in. not just retail. institutionals as well. i think they're in but they're waiting. when you get something like the happen, they've been sitting on their hands. they own what they own. they're staying long. when they can't wait and wait. everyone has been talking about the pullback after inauguration. it hasn't happene