we just received notice that apple daly will publish a final edition tonight. so i am rushing back to the office, although i still have a report pending publication with i'll see if i can make it today. although were prepared for its ending, it still feels unreal. that morning, another staff member from apple daily and that a tauriel writer was arrested under hong kong national security law. it was imposed by beijing to outlaw act of some versions of session collusion and terrorism punishable by up to life in prison. we know media workers are at risk, especially those from apple daily all day. it's kind of expected, but journalists are human to that. what we don't want it to happen? poon is joined by harry, a photo journalist who's worked for apple daily for 7 years. what's your last assignment today? none, i'm off judy. i didn't expect things to in today. i regret that none of my photos will be in the final edition. will i understand? the freezing of its assets made it almost impossible for apple daily to continue operating or even to pay it. staff will tears.

we just received notice that apple daly will publish its final edition tonight. so i'm rushing back to the office, although i still have a report pending publication with see if i can make it today. although were prepared for its ending, it still feels unreal. that morning. another staff member from apple daily, an editor, aerial writer, was arrested under hong kong national security law. it was imposed by beijing to outlaw act of some versions of session collusion and terrorism punishable by up to life in prison. all the people we know media workers are at risk, especially those from apple daily. all day. it's kind of expected, but journalists are humans to that. what we don't want it to happen because i don't know. poon is joined by harry. a photo journalist has worked for apple daily for 7 years. what's your last assignment today? none, i must, judy, i didn't expect things to end today. i regret that none of my photos will be in the final edition. will i understand? the freezing of its assets made it almost impossible for apple daily to continue operating or e

this is the 1st time they've met since apple daily closed out. it felt so strange to have nothing to do yesterday on such a busy day for all reporters. i learned a few of their former colleagues are now on social media to continue reporting as independent journalists. but many are quitting the industry. how are the photo journalists doing? so, these are some plan to get a text license in b drive is not shooting anymore. it's hard to find another liberal platform called an independent journalist must bear all the risk and consequences on their own designs on the pressure and burden are different going on, like poli powerful. yes. in hong kong, nowadays, any article control various accusations, it could be a huge risk by this shooting photo safer. so who knows? maybe a photo could also be blamed as incitement. hong kong detour from democracy has forced them to put the brakes on their journalistic endeavors. does it also spell the end of freedom of the press in their home city? all of them. i don't think hong kong press freedom has died than althoug

apple through the development of the apple watch. exclusively to medtronics ceo, medtronic the top global medical device technology. he said the technology is becoming more like consumer tech. >> the technology advancement in the last 18 months to two years, whether it be miniaturization ever electronics, robotics, you hear about battery technology, people equate it with that but there are batteries for pace makers and things, they're smaller, last longer then you add data and ai, all these things coming together a lot -- it really changes the game and we see a paradigm shift for the medical technology industry. and our place in health care >> he told me he is bullish on partnerships in the wearable space and using detail data and ai to empower physicians and patients to make better health care decisions >> we have a device called link here which the size of a paper clip, goes under your skin not a therapy. it's monitoring multiple parameters around your cardiovascular health. heart rate, heart variability and other things like that

one question i want to ask apple on -- one question you would want to ask apple on the earnings call? jeremy: margins for the upcoming year. if we are talking about shortages, things they have to do, we have to know what the expense structure looks like coming into the following year. this is more illusionary than -- more evolutionary than revolutionary. we still have a lot of 5g capability coming. i want to hear stuff around that as well. romaine: our thanks, and our thanks to anand of bloomberg intelligence. while those gentlemen were speaking, were -- we were getting breaking news on visa. eps coming in, the street was looking for $1.35. the net revenue coming in at $6.1 billion. the street was looking for $5.9 billion the company not providing a fiscal year 2021 outlook at this time. this is bloomberg. ♪ mark: i am mark crumpton with bloomberg's first word news. the u.s. centers for disease control and prevention says it recommends that even fully vaccinated people wear masks in public indoor settings in places where covid-19 is spreading rapidly. the cdc director says this could

it is not a new concept, but it is the latest push by apple to get users to use apple pay. how it will rival paypal and affirm. plus, arianna huffington continues to thrive. her wellness company gets a $750 million valuation after raising fresh funding. what is next for the company looking to minimize burn out? could nft's for the washington wizards be a slamdunk? owner ted leonsis think so. we will talk about whether he thinks crypto will be a big part of the future of professional sports. that's later this hour. all that in a moment. first, we will look at the markets with kriti gupta. kriti: risk off day and it all had to do with the cpi. nearly double the surveyed amount. 0.5%, that is what economists were surveyed to really expect. 0.9%. once again, the inflation fears really strong, but it did not show up in tech sectors, cyclical sectors. it was across the board. risk off. we saw people take cash off when it came to the market and dive into treasuries. treasury getting a big yield coming down. i want to show you the one notable exemption, those are going to be the ne

could apple potentially be vulnerable here?> keep in mind that apple employees a tremendous amount of citizens indirectly in china through supply chain it's not like some of the other big tech where there's a lot of animosity between the governments. we also do note that apple is very much viewed as an esteemed, accomplished, desired product in china. it's not only fashion, but it also shows accomplishment and a sought-after item. simply put, end of the day, the apps work. they work seamlessly when doing a business call or a school or education or various things like that, you want your apps and your phone to work, and it does with apple that's why it's more expensive. >> and beijing -- hasn't stopped beijing, though from other companies that work very well and employ lots of folks >> you're absolutely correct on that, and keep in mind that apple is a consumer item and not an enterprise item when they start talking about enterprise, keeping up software or big hardware, the purchase is being made by the average consumer, it is a

last year we spoke to him right after police 1st rated apple daily's newsroom. i was saying with the ship because this pace gave me everything you know, i mean death to this phrase. i'm very grateful to the what the say that given me, i told them that consider your own safety, your conscience, and you operate ation to that society. we are not asking you to be the marker was, you know, do whatever you think is the right thing to do. so we would just continue to do it and test the water. his media empire did carry on, but was constantly tested a week before its closure. apple daly was dealt another blow. 5 executives were arrested reporters, computers were seized on that night. the remaining editorial board continued publishing. the massive raid was front page news than the government pros. it's assets putting the papers very survival at risk. even worse, 2 executives were brought to court for conspiracy of collusion with dozens of apple daily article cited as evidence by young. suddenly our editor in chief became a suspect. we saw him in court. all, i'd never ima

alphabet, apple, microsoft out

but for apple, think of the early days of apple tv+.d lasso" had something like joining me nominations. to the extent that these early-stage efforts start to improve over time, and to the extent that consumers with their large install base engage in more digital media, i think that could help apple with their services revenue, and also on the multiples front. jonathan: you have teed up the "ted lasso" talk. let's keep it serious just briefly. your price target, you notched it up despite the supply chain constraints apple spoke about. is there anything to be concerned about after that call yesterday? tom f: the concern remains government interference, especially when you look at what is going on with china. 30% is there take rate for many of the apps in the app store. to the extent there is regulation, executive action, things that could lower that figure materially, perhaps to 10% over time, that still has me up at night for the stock. concern over supply chains would be second. jonathan: good to get your view. thank you. tom forte, da

that is a key to the apple thesis. it is a big art of why you are looking at 2.5 roughly trillion dollar market cap. i think $3 trillion in the next six to nine months. especially when you factor the chip shortage that was supposed to be a 3-4 billion headwind. emily: talking about headwinds, we got that new cdc guide is today and tim cook is talking about that on the call. he says there is a growing sense of optimism among consumers but that progress made is not progress guaranteed. talking about the delta variant, he said the road to recovery could be a winding one. dan: that is smart for tim to lay it out that way. apple, probably more cautious than any other company in terms of closing their stores. i think it all comes down to, conservative in terms of guidance, it all comes down to the underlying penetration story. you have 25% roughly, 3.5 years. if you look at sort of the numbers. the street is massively underestimating this demand story. it is an elongated super cycle. they continue to under promise and over d

so with apple daily is like the sacrificial animal. that slaughter to intimidate the other farm animals and make them obey god, how pessimistic there's always stakes are high when get go. we also wonder whether a previous reports will cause us trouble getting home language. but we can't be fearful, as long as we work in line with journalists to conduct a towards our meeting again. or to do what i had the chance to enjoy the last light of press freedom. every journalist is under pressure. i think a lot. i haven't come up with the conclusion of whether i can still be a reporter even if i can, it will be very difficult. please know. this is the 1st time they've met since had both daily closed out. it felt so strange to have nothing to do yesterday on such a busy day for old reporters. a few of their former colleagues are now on social media to continue reporting as independent journalists. but many are quitting the industry. how are the photo journalists doing some plan to get a text license in b drive is not shooting anymore. it's hard t

look i think apple's had an absolutely extraordinary year this year. so the iphone cycle has been strong and it has been particularly strong on pricing but we had unusually strong mac and ipad sales and so that results in a terrific year this year, and the real question is what happens next year. in all of those businesses when work from home, the need for work from home is not as urgent, and whether iphone asps can sustain themselves next year and then as you mentioned, carl, on top of that, there is a whole question about china, which is about 20% of apple's revenue and whether, you know, political and trade issues ultimately put u.s. companies at a disadvantage with consumers or with the state there. and these are all questions as we largely look into next year, less so about this quarter. >> couple of things on apple one, i can't help but note with the m-1 chip and apple's efforts to roll out its home grown and design chips across the mac line, we just saw adobe coming out with premiere pro support for that, which should spark some business buying

we just received notice that apple daily will publish its final edition tonight. so i'm rushing back to the office, although i still have a report pending publication with see if i can make it today. although were prepared for its ending, it still feels unreal. hail you that morning, another staff member from apple daily, an editor, aerial writer, was arrested under hong kong national security law. it was imposed by beijing to outlaw act of some versions of session collusion and terrorism punishable by up to life in prison. all the people we know media workers are at risk, especially those from apple daily. all day. it's kind of expected, but journalists 30 minutes to that. what we don't want it to happen. poon is joined by harry, a photo journalist who's worked for apple daily for 7 years. what's your last assignment today? none, i'm off judy. i didn't expect things to end today. i regret that none of my photos will be in the final edition. i understand all the freezing of its assets made it almost impossible for apple daily to continue operating or even to pay a

is that the case with apple? >> well, i think the valuation has come a long way relative to itself so the bingo word of reoccurring revenue or -- look, so services, which are up 33% year-over-year roughly, you can make an argument that 50% of their services revenue are apple related services, so this is reoccurring revenue. this is actually predictable and if you look at their eps overall, guess what, the transformations happen before your eyes. apple is now getting probably half, maybe even a little more than half of their eps from their services business. and so, yeah, i mean it's absolutely worth a whole lot more and that's why the stock has been rewarded. >> gene, sorry, i almost got in trouble. so we always come back to this issue with apple hardware multiple, software multiple, how do we decide what should the hardware multiple and software multiple be to get us a combined multiple >> i think the sum of the parts would yield that you're where you need to be the stock is fairly valued if you think of some of

it is apple, alphabet, and microsoft. tom: we will stop now and look at apple.lpower with us with baird -- will power with us with baird. he shows you his belief in his track record from another time. this is a guy who, just before covid, was outperform on 90. you sustain your outperform today. simply, can beijing upset the apple cart? can beijing, all of this in china, derail your outperform? will: that is a good question. good morning. thanks as always for having me. china is always a big wildcard. at least at this point, it has still been a big driver of apple's results, and we are not expecting that to change near-term, but it is something we keep an eye on with respect to other companies. but apple has been able to navigate that market. that is just one piece of the puzzle for apple as you think about the strength we expect this quarter. jonathan: the guide to apple over the last decade is just to keep buying it. it is complex on one friend, and i have always struggled with it. -- on one front, and i have always struggled with it. what kind of multiple do y

apple has been really strong and i think that kind of helped a rotation back into apple that earlier in the year they're looking at cyclical, looking at the pc names like hp and dell and you started seeing gravity back towards growth and some smartphone names and apple stood out. >> we have the reports this week that the company may want to boost iphone production by as much as 20% after last year's 5d supercycle why isn't there more enthusiasm? obviously it's the biggest company in the market? what is the bar this afternoon if we talk about this in the whispered number sense, where do you think expectations are high or low? >> i would say for expectations are for a b on the joint quality. that's already in the stock. most people expect a b for the june quarter numbers kind of what they've done the last few quarters, part of the reason is because i feel like until all the apple stores are open throughout the globe, you know, there's always a little bit of uncertainty in there. so, at this point, i'm expecting a b. and the second thing is compared to a year ago the main differences th

i'll say it quickly, in apple. but you always have that sometimes if people are worried, you do have sort of a back and forth with calls and puts. but this time it's really all to the upside in apple up two and through the 180 strikes, scott but microsoft has been outperforming, outperforming, outperforming. and it has just kept hitting the levels of the upside call speculation that was out there earlier in the year. there aren't any more upside calls that people are speculating in for microsoft so if, indeed, scott, they're caught flat-footed or hedging to an extreme in that stock, you could see that pop more i'm not disagreeing with tiffany and joe, that alphabet, google has done you fantastic with the words, know whag we wrach from youtube and so forth but i don't know they have a blow away quarter. of the three, which i -- as you said i own all three, i'm thinking perhaps we get a little bit more of a surprise from microsoft than from the other two. and i think that none of nithes are really at risk for anythin

layer on top of apple pay.ork with eventually any credit card you use with the service, whether it is american express or chase, other providers internationally, versus the apple credit card. kathleen: is this going to be a big moneymaker for apple and is it going to spur even more competition, more people from all across the spectrum putting out these kinds of services? mark: whenever apple enters a new category, they take it mainstream. there is companies in australia, asia that do this, too. paypal has a similar offering. apple building it into the iphone, a device where there is over one billion of them in the market and it will change the way people change things. thanks to all the loans from goldman sachs so i think this has long-term potential to shake up how people pay for items in stores and online and i think apple will pull this off in a seamless fashion and it will be exciting to see and i'm looking forward to giving it a try when this rolls out in the next year or so. haidi: mark gurman, our bloomb

last year we spoke to him right after police 1st rated apple daily's newsroom. i was saying with the ship because this pace gave me everything. you know, i mean, death to this race. i'm very grateful to the what the say that given me, i told them that consider your own safety, your conscience, and you operate cation to that society. we are not asking you to be the marker, as you know, do whatever you think is the right thing to do. so we would just continue to do it and test the water. his media empire did carry on, but was constantly tested a week before its closure. apple daily was dealt another blow. 5 executives were arrested reporters, computers were seized on that night. the remaining editorial board continued publishing. the massive raid was front page news. then the government froze, its assets, putting the papers very survival at risk. even worse, 2 executives were brought to court for conspiracy of collusion with dozens of apple daily articles cited as evidence by young. suddenly our editor in chief became a suspect and we saw him in court on call. i'd

iphones apple wants to sell. supply in asia pushing share prices higher. let's focus in on the holiday vacation providers. a little surprise at canceling despite things opening up for u.k. travelers over the next week or so. come july 19 we are expecting new rules for those double jabbed. despite that, we are seeing a number of holidays canceled for the remainder of july. evander in focus, an online wealth management business, missing estimates. that is trading to the downside, down 5.8%. u.k. international trade secretary looking for a trade deal between the u.s. and u.k. before the end of the year. she spoke with bloomberg's annmarie hordern. >> i have never set a deadline for any trade negotiation because the important thing is to get the right deal that works for both countries. i think there is a huge amount we can do together. the u.s. is the u.k.'s largest single country trading partner. a million britts work in the u.s., and a million u.s. citizens work in the u.k. there are huge opportunities, that is wh

a big shout out as apple looks to bust out, building more iphones. we'll lay out how to trade it. >>> plus, big oil springing a leak the one top sector cooling off, but if you still love the group, have no fear, we have spotted something in the options market that could point to a big break out in one of those big names. >>> and then pot, not hot. cannabis shares down even as congress talks up legalizing it. tim seymour is here to break down all the action. welcome, i am brine sullivan in for melissa tonight. thanks for joining us anyway tonights linedup time seymour, guy adami. let's start doing it and get right to it. hit the macro markets and your money. another good day as the dow, s&p and nasdaq all rose, not big but when you are on records and you go up a little bit it's a new record it was a story of continued momentum and maybe a little mini jay powell pop, if you will, because the fed chair testifying on capitol hill mostly of course got questions that lined up by political party, but on the side that you care about powell trying to keep eve

the first rule of apple club is don't talk about apple club.iers that doesn't stop the press from trying notice i didn't say lying. hence this publication from a japanese publication apple slashes planned iphone mini for the first half. the u.s. tech giant is cutting orders for all iphones by about 20%, committing to plans in december according to sources familiar with the matter piece goes on to say that apple initially told its suppliers they needed components for 100 million units by the end of the year and cut back the units. apple declined to comment for the story. ominous! that article appeared in asia on march 10th when apple was 119. i have no idea if it was right but i feel like these supplier stories are notoriously inaccurate and always a major reason i tell you to own the stock, don't trade it because these terrifying headlines so often are just dead wrong. the most damning piece showed when apple stocks was $129 the title "apple shares are lagging the market why the stock could continue to underperform." okay it happens to be writt

boon and harry were journalists for apple daily. the most outspoken newspaper in hong kong, the painful farewell, the headline of its final edition. the popular paper was forced to shut amid china's tightening control over its free is city wide. apple daily didn't change when hong kong has what does the papers fate tell us about the future of hong kong? this isn't a normal day at the office for poon, the 30 year old journalist has just learned that the newspaper he worked for for a decade would close at midnight. all day. i'm on hold. we just received notice that apple daly will publish its final edition tonight. so i'm rushing back to the office, although i still have a report pending publication with see if i can make it today. although were prepared for its ending, it still feels unreal. that morning. another staff member from apple daily, an editor area writer was arrested under hong kong national security law. it was imposed by beijing to our act of some versions of session collusion and terrorism punishable by up to life in pr

apple 5-year return 44%. all of the stocks have had kind of lange luvrt maybe not alphabet but looking at apple and amazon just up a handful of percentage points year to date which may mean they're pausing, consolidating. either way the valuations and business fundamentals right now are positive for the fang names to start working right now the only risk that's oand it's been out for years is regulatory and litigation we can't keep you are heads in the sand on that but that's not a reason to be out of the stocks. you have to be in these stocks >> 16,000 kilometers of earth bank wall around the city ido nigeria. the wall of benine reference microsoft, goldman sachs still pounding the table, reiterating a buy. so a 340 target. 27% upside love the longer term shifts, secular shifts all benefitting microsoft as well. shannon, they see a pathway for sustained double-digit top line growth along with continued margin expansion but the stock has already been red hot. how much of that is priced into microsoft already?

>> you bought more apple calls today, pete. you're undeterred >> i did >> -- the fact that the stock sold off you look at the numbers that apple -- and others across the board -- the revenue beats, pete, were nothing short of extraordinary. up 36% year over year for apple. 62% alphabet, microsoft 21% year on year. you obviously don't care about what's happening in the market today or the way the street is reading this, because you bought more calls today in apple. >> well, i do care, of course. but i think the reality is they sold off apple and they've got the growth, scott. this is something patty the producer and i were talking about before the show. the growth we are seeing now, this isn't the growth you see in the very mature companies. i mean very mature yes they are big cap tech, the leadership and still growing revenue at 30 some odd%. 36% for apple. now about about the fact that margins are strong where? you look at servicesos, wearables, the categories where they continue to have growth i think there is a lot of reason

earlier this week, we reported on apple working on a new service that allows for any apple pay purchasepaid for overtime paired this would rival the buy now pay later offering such as a firm and paypal. they will use goldman sachs as the lender. how will it stack up? let's bring in a firm ceo. max, taking a look at what we know so far, what does a firm has over what apple plans to offer? >> neither goldman or apple have anything about their collaboration to be. i can't really compare. i can tell you exactly what a firm is. i think it really matters. we are not a wallet which is what a lot of the competition or would be competition is. we are in the business of turning browsers into buyers. if you look at the merchants we have from target to walmart, the network is vast at this point. we are in the business of bringing customers and increasing site and enabling merchants to grow without discounting. it is a very complex set of technology and partnerships that are very deep from the. none of the stuff we have built and have specialized in. i think we are in a different business than anybo

they're going to have to make a choice >> i have to push back why would china punish apple now?n, over the last year or so, and especially under the trump administration, placing huawei, one of china's most successful international companies, placing that company on the export blacklist has really hurt that company there was thinking at the time that beijing might punish apple, an american champion for that, but they haven't what has changed, what's different now that makes you think that china is actually going to show some action at this point in time >> i think we have seen proof from xi that he is willing to take a lot of hits economically for -- to pursue idealogical goals. we have seen that in the crackdown in hong kong that's very dangerous for china's access to foreign capital, yet it goes on and very resolutely because the chinese communist party has higher goals it wants to achieve. i think that is a warning sign we should take very seriously. >> but why apple specifically then why now? >> apple is the big target because that is the one enormous american tech company t

in this segment, i'll be taking a look at how covid is impacting apple's return to office plans, apple'splace your bank, as well as the company's plans for new iphones, ipads, apple watches, and more. apple is delaying its plan to bring back all employees to its global offices by one month at minimum, pushing back the return from september to october at the earliest. the company is making the change in response to rising covid case numbers, both in the u.s. and globally, as well as the delta variant of covid. it pledged in an e-mail to staff that would give them a one-month heads up on when they will be required to return to offices. apple's return to office set up hasn't changed. it's still asking staff to come back to the office for three days per week, but it's offering up to two days per week of remote work. apple wants to continue to replace your bank and other financial services with new tools developed alongside goldman sachs. the company is working on a new service called apple pay later. this will let you pay off any apple pay transaction made on any credit card in the u.s. with

apple, alphabet and facebook will report later. this is apple. -1.38%. google is up by 3.9%. names from the conversation for the federal reserve almost perfectly. the cyclical demand in this economy. terrific demand. look at the ad revenue at a place like you to come up 84%. then you have apple morning about slowing growth. supply chain constraints that could consist longer than you anticipate. that's talk down by 1.38%. -- that stock down 1.38%. the reason people think it will not do much at all. we will talk about that later. the bond market, last time, we were around 150 on tens. yields on 30's, the fact of the matter is, yields are lower. a gradual step toward tapering. tom: that is very important. will be joined later by a guest from da davidson. he will give us perspective on technology. right now, this is a joy, because he is retired from new york university, where he provided value. he is writing a book that will do better than good, the movie rights have already been sold. i want to go right to the heart of it. you say it differently, we have debt on top of it. you a

. >> apple for the breakout.olkswagon. they just preannounced results better than all of 2020. >> delta >> all rht, n'igdot go anywhere. options actions is next. we'll see you there. (realtor) the previous owners left in a hurry, so the house comes with everything you see. follow me. ♪ (realtor) so, any questions? (wife) we'll take it! (realtor) great. (vo) it will haunt your senses. the heart-pounding audi suv family. get exceptional offers at your local audi dealer. you packed a record 1.1 trillion transistors into this chip i invested in invesco qqq a fund that invests in the innovators of the nasdaq 100 like you become an agent of innovation with invesco qqq ready to shine from the inside out? try nature's bounty hair, skin and nails gummies. like you the number one brand to support beautiful hair, glowing skin, and healthy nails. and introducing jelly beans with two times more biotin. >>> it is friday and that mean it's is time for "options action." here is what is ahead. >> earnings season begins next week

quarter for apple. the next quarter will be important because that's when we'll have the front end of hopefully a new phone. that's supposed to be again the biggest phone they'll ever sell. in terms of microsoft, people lose sight of the fact this is like a fashion company with no competition. and by that, i mean that as long as they come out with the new fashion with the new windows operating unit, you have got to upgrade. so all the companies will upgrade. it's not a perfect subscription model. that, to me, you don't have to worry about that much. in terms of others, snap, twitter, gave window as you pointed out into the advertising tarket the question we have to ask, are they taking share or is the market continuing to expand? my bet is the market is continuing to expand that's where the dollars are going. so i'm fine with these -- i don't expect the market to have a huge move either way this week the fed meeting is as important as any single or all the companies reporting together and i think you ha

we are converting spain and apple tv will be in spain.hts and the feelings that i got is that they count on spain, they see that spain is a safe country with a good quality of life and affordable and competitive -- and prices. we have a good opportunity for both for the spanish government for my country and with these foreign investors and companies. and also my country is committed with gender equality, diversity, and we are focused regarding this new education system with stem for girls and women. we are an open country and we are looking forward to having these synergies with the u.s. investors and companies. emily: wonderful to hear where your priorities are. welcome to silicon valley. hope you enjoy your trip. thank you for joining us. that does it for this edition of "bloomberg technology." wall street week is coming up next. you don't want to miss it. this is bloomberg. ♪ in business, it's never just another day. it's the big sale, or the big presentation. the day where everything goes right. or the one where nothing does. with com

last year we spoke to him right after police 1st rated apple daily's newsroom. i was saying with the ship because this pace gave me everything. you know, i mean, death to this phrase. i'm very grateful to the what the say that given me, i told them that consider your own safety, your conscience. and you operate ation to that society. we are not asking you to be the marker was, you know, do whatever you think is the right thing to do. so we would just continue to do it and test the water. his media empire did carry on, but was constantly tested a week before its closure. apple daily was dealt another blow. 5 executives were arrested reporters, computers were seized on that night. the remaining editorial board continued publishing. the massive raid was front page news than the government froze its assets, putting the papers very survival at risk. even worse, 2 executives were brought to court for conspiracy of collusion with dozens of apple daily article cited as evidence by young. suddenly our editor in chief became a suspect with simon court on wall. i'd never i

apple's mother tessie was completely underwhelmed by all of this. she just didn't think for women at career mattered at all and all of the love and ambition went into the younger son, and to david. so i think the lesson apple took away from that is that ultimately you are actually on your own in life. it's a real hard lesson to learn but she had to do what she felt was right. maybe there would be nobody who would come to her rescue however julia's clearly admired her. so here for the first time was a man who really valued her talent and they think that speaks a lot to what she fell in love with. i think it was a very physical passion actually as well on both sides but i have to say ethel being valued and admired must have been very heady stuff and although they became a unit i still think that apple had learned that ultimately what she made of her life was going to be her decision because her father was weak. he couldn't stand up for her and her mother had never listened to her. had never praised her and never made her feel valued. so that was reall

top holdings, apple, microsoft, amazon and alphabet.es has a five-star morning star rating. microsoft, comcast and cme and the small cap etf is up 13% in 2021 you can see the disparity based on small and so forth. bright horizons and toro are top holdings gamestop also makes the cut. we'll delve more into this in just a moment. that does it for "the exchange." i'll see with you tyler mathison for a cnbc special report, the esg revolution, which starts right now. >>> kelly, thank you very much and welcome, everybody, to this special edition of "power lunch. the esg revolution along with kelly evans, i'm tyler mathison there's an investment movement under way on wall street money is pouring in to socially responsible sectors and stocks but there's also a lot of confusion and controversy. and questions about its actual impact this hour we're going to break down the issues. we're going to look at the e, environmental, and why there is so much focus on sustainable investing and the issues that are coming to light when we talk about things li

apple, alphabet, microsoft and facebook let's kick it off with apple revenue beats across all products all services. apple delivering 39.6 billion in iphone sales alone up almost 50% from a year ago. the strongest sales growth coming from china where ceo tim cook says customers are buying accessories such as the apple watch to pair with the iphone. slower revenue growth as the global chip shortage will start to affect iphone production. that's something cook addressed on the earnings call >> the majority of constraints are of the variety that others are seeing classified industry shortage we do have some shortages in addition to that that are where the demand has been so great and so beyond our own expectation that it's difficult to get the entire set apart within the lead times that we try to get. >> all right now let's bring in joe kalime at wedbush securities thanks for being here. >> frank, good morning thanks for having me. >> let's kick it off what was your take on the apple reportings and the chip shortage and the commentary from tim cook that you could see was pretty cautious.

. >> somebody bought 140,000 of the apple 145 calls, scott i joined them and added to my apple position. >> apple up nearly 3% on our way to a big day back up 650 on the dow "the exchange" is now. >>> thank you very much, scott hi, everybody. i'm kelly evans. here's what's ahead this hour. stocks stage a sharp rebound after posting the biggest selloff. bond yields also bouncing. they remain at ultra low levels. a very differ dynamic. we'll talk about which sectors should drive the next move in markets. >>> plus, bitcoin is back below 30,000 fidelity says institutions are still bullish on crypto. we'll talk about the findings that are still keeping investors on the sidelines can netflix keep growing is apple buying a movie studio it's all ahead this hour we kick things off with this rally, dom chu has the rally. >> what a difference a day makes, kelly we were talking about the sharp selloff yesterday. would you believe it if i told you at these levels right now which represent near highs session, we have gotten back everything and more that we lost in the s&p 500, everything and more tha

apple maps, apple music not at the top.oes that provide evidence that they are good at making some apps and not others and this is a competitive marketplace >> i was heartened by that the fact that those top apple apps, calculator, calendar, maps, mail, things that are sort of utilities and those should be on the phone those are things that you expect you would have own the computer when you started it up it's when it gets into the services services these big tech companies started to compete against the others most are controlled by big tech companies too, amazons, et cetera, google but those are the ones where i think there are potential harm or potential questions and i always tell people really think about those defaults the devil is in the defaults the defaults on the system will benefit the apps the maker of those devices because they are there they want you to use it. they have that control >> right very often there are store brands and, you know, it's a question of how much they charge for the end caps i guess thank

no one is bigger than apple.is expensive trading at 26 times earnings, remember this company has a history of crushing the estimates. a year ago the analysts expected them to make $3.74 in 2021 now looking for $5.48. see, the stock always ends up looking much cheaper in retrospect as the estimates get raised that's why the "mad money" party line remains exactly the same. own it, don't trade it and believe me we have analysts coming on all the time who tell me there was no reason to buy ahead of the quarter you know when they told you that, when it was 119. can i add that i -- it's entirely possible that apple should be admitted to the united nations, maybe the security council because their revenues and balance sheets are better than almost every country i follow microsoft, another one that got dinged despite reporting an astonishing set of numbers and delivered a big top and bottom line beat with 21% revenue growth guys, this is gigantic each of their three major sellingments came in higher than expected when yo

mark: apple gets a percentage of every apple pay transaction made.is a low double digit number and this is going to spur, they assume, additional adoption usage of apple pay to make apple more money over time and then i can only presume that as part of the monthly installments plan, with interest, that apple and goldman sachs will split some of that interest. of course, apple is making over $50 billion a year from their services division and this will likely add to it. goldman sachs has been pushing their new consumer oriented products. they are making millions now on these types of offerings, too. haidi: mark gurman. for an in-depth look at the power struggle between regulators and the technology sector, do not miss out on our upcoming bloomberg tv vessel. you can catch that, starting this weekend at the times on your screen. coming up next, the former deputy u.s. trade representative, wendy cutler, joins us to discuss countering china's influence including this potential digital trade deal. this is bloomberg. ♪ kathleen: the u.s. will issue an advi

but that is a headwind for them. >>> kim, finally let's get to apple. what's your view on this one >> we're long-term positive on apple. it has a great consumer brand. and with people that apparently love it regardless of what the prices are for the devices, so that speaks a lot. we look at some of the things that give us some concerns, like the apple store and the litigation that's going to be happening over that, if not the regulatory issues that come out of that. so those are all cautionary tales perhaps. but we think that they are extremely well positioned. i think tim cook with his supply chain history will be able to steer that company well through chip shortages. >> i'm always curious not just with a company like apple but where you have a ceo like tim who is so well thought of, at some point, he's been around now close to if not more than a decade running the company what's their bench like? what if tim leaves who's in >> i don't know who's in, but i know that the company has a very deep bench it could be, you know, somebody from design. but the

apple shares moving lower this morning.egative effect will worsen during the current quarter google's parent alphabet surging. quarterly earnings about $18.5 billion that has more than doubled from a year earlier. microsoft also doubled on the top and bottom lines thanks to significant growth in the cloud computing. microsoft has been one of the big beneficiaries that employees students operating from home >> do you remember the spicy chicken that people were getting in fights over >> popeys. it's a great chicken sandwich. super tasty. we've done some taste tests in my house >> let's bring in -- >> chief investment strategist at high tower. are you long popeys? >> i am not. i am long mcdonalds and i thought this report was very, very solid >> there is a lot more to fast food than innovating what was the mcrib, it was poured into a mold like a slurry. you do what you do best and introduce morgan's crispy chicken and get results like this it is incredible >> a while ago, they simplified their menu 75% in canada. 60% in the uk

though the app store apple had access to tile sensitive business information with no guarantees apple would not repurpose that data to advantage its own product. pyles has also claimed apple has blocked or limited its access to new iphone features -- tile. now, the app store and mobile market have almost taken over the digital digital ecos here know, more and more consumers are using mobile phones as opposed to laptops or desktop computers. and i believe this area is one where it is really appropriate for congress to set some clear bright line about what these gatekeepers can or cannot do. so let me first turn to mr. white. as you recall at the app store hearing from you testified that it was your, end quote, understanding that google has, quote, data access controls in place that govern our data are third-party services are used, end quote. i would want to set the record straight. google provides platforms for businesses to distribute apps through the google place door, and the internet of things, echo system, does google have a firewall? does it have a firewall between these platfor

at that time, apple is going to reevaluate.er that is allowing more remote options, were tightening up and requiring five days back in the office. a lot of that is dependent both on employee feedback and what the covid-19 situation is at the time. caroline: it almost felt like apple stores were at one point the arbiter of where we were in the covid journey. apple's decision-making on opening. where are we on store opening? mark: apple is often a barometer both in stocks and -- based on that logic i've got bad news. after about a month, apple is having masks back on as a requirement for retail store employees. half the stores across the u.s. are going to require employees to wear masks once again after dropping that requirement in mid june. in addition, they are urging the mass requirement for the rest of the retail staff globally. required in some states, strongly recommended elsewhere. caroline: also, the return to office, is that --? >> apple's plan is the same globally. the october-september timeframe was a deadline. that wa

apple, and microsoft have a mix after hours.e's billing scrambles to keep his empire from scrambling, ubs has another 40% drop in the share price. shery: japan, south korea and australia coming off line, how are we looking? sophie: ek two to five snapping a three-day gain, lower by 1% member said japan stock prices warrant attention. we have seen tech arrange about early may, not by bridging that 20,000 level handle yet. the yen is trading near a one-week high. this is the latest number from tokyo, which topped 2800 and hit a record on tuesday. we are seeing safe haven move this morning with gdp gaining ground. nissan is among companies from japan. we are going to get results from brand names. we had lg display already reporting second-quarter numbers delivering on the on operating profit pair kospi most of the downside by 4/10 of a percent. korean won by 1154 as we get some optimism around the outlook for south korea. imf upgrading gdp forecast for south korea. now switching out the board to check in with the open and cindy aft