and calling apple saying apple has a monopoly? no, i don't think search, you know, it's really all related to market definition. so the judge laid out a market definition. and the market that aches examined in the court case is really looking at mobile games transactions as the market definition. and within that context, apple does not have a monopoly has by apple's own data market around 55 percent share of the opportunity in that context. so it can't be described as a monopoly in that, in that way. epic was trying to convince the judge that the market definition was actually more narrow than that. but it didn't convince the judge in that argument. okay, what then do you make of the court decision and kind of gave a when to both sides that more in favor of apple overall seems pretty resounding defeat for pick really the judge. i don't think was that impressed by the arguments that put forward, certainly around the idea of apple having a monopoly. the one area of the apple was identified as being anti competitive. all was in terms

remember, apple is not windows apple is not android, but economically it's apower house >> right thoserivacy changes are taking effect i guess you have to wonder if this is sort of the peak, right? it hurt snap and did hurt facebook but not as big a disaster julia said they're looking towards different revenue streams you mentioned commerce, julia, you mentioned reals but the metaverse is a big play as well why do we assume that facebook is making huge investments in the space but will they be allowed to create the operating system there could be some lateral plays, we talked about nvidia, up 80% year to date, more than that and that could be a play, right? if you believe, snap, julia, could also come back here f you think this is an opportunity and be big players in the opportunity, why not pick up a snap that's valuation has come down a little bit since the latest earnings versus a facebook. >> dierdre, there's a couple of topics one is in terms of this apple issue, snap said it wouldn't be that big of a problem. they think it's fine if we work with apple's measurement tools we shoul

we continue to follow the apple event. apple stock has risen.will bring you all the breaking news after this break. ♪ [ sigh ] not gonna happen. that's it. i'm calling kohler about their walk-in bath. my name is ken. how may i help you? hi, i'm calling about kohler's walk-in bath. excellent! happy to help. huh? hold one moment please... [ finger snaps ] hmm. ♪ ♪ the kohler walk-in bath features an extra-wide opening and a low step-in at three inches, which is 25 to 60% lower than some leading competitors. the bath fills and drains quickly, while the heated seat soothes your back, neck and shoulders. kohler is an expert in bathing, so you can count on a deep soaking experience. are you seeing this? the kohler walk-in bath comes with fully adjustable hydrotherapy jets and our exclusive bubblemassage. everything is installed in as little as a day by a kohler-certified installer. and it's made by kohler- america's leading plumbing brand. we need this bath. yes. yes you do. a kohler walk-in bath provides independence with peace of mind. call... for f

with apple earnings crossing the bloomberg.phone revenue, it's a mis-compared to where the market had expected it. this is a fiscal fourth-quarter with ipad revenue coming in ahead of expectations. mac revenue coming in just shy of expectations. earnings-per-share, bang in line, overall that fourth-quarter revenue is a miss versus the 84 $.7 billion with wearables and accessories coming in shy as well. service revenue, this is where the future growth remains, yesterday it had been 17.57. they've already returned during the quarter. coming in with plenty of money to get back to the investor base, seeing services at an all-time high with revenue up 30%. it's a miss and the mark -- market therefore sent it lower after hours. taylor should mark taylor: it's really interesting. you can't discount an iphone cycle, as dan talked about, with some of the bullishness and despite the supply chain issues, that religionists is a fourth or big upgrade that's still underway. let's wood all with our bloomberg senior analyst, as well as jeremy

the apple uses care? well, i think that's a good question because at pick really was trying to present this as not just a sort of industry focus case, but was also saying this is good for the consumer and oversee had this whole kind of marketing effort to paint apple as the bad guy in the context of this court case, but i don't think the average consumer really cares about what's going on in this sort of legal ranking. i think actually when it comes down to abuse each of alternative payment mechanisms, if they are implemented, a lot of people will take easy route and take this, you know, the, the safe route is what they used to. so using apple zone in a purchase mechanism. so i don't, i don't think actually consumers that are interested in this or that, you know, your average mainstream consumers are interested in this or impacted by what's going on in the cool case. okay, let's turn and talk about the meta versus sort of overarching term used to describe the future of the online world, i guess where it's

you want a core position in apple and if you don't have a core position you're basically shorting apple versus the market i have my core position, but there are times when it gets ridiculously cheap times when it gets expensive it got ridiculously cheap earlier this year and that's when i said my core position stays where it is and i'll add extra shares at 120, 122 with the idea of taking them off 160 and 170. when it gets above 160 those shares will come out and i suspect those will be this year and i will maintain it going back to 2013 >> by the way -- >> -- and which will probably remain for the next few years. >> i don't think cramer has 47 different trafrpes of apple stock. he's the one that says own it, don't trade it i don't think he's trading around his position. i don't know what he's doing on a day-to-day basis and i'm not trying to speak for him because he's not sitting here right now. >> let me be more helpful here whoever is doing what doesn't matter here's the most important thing. apple has bought back fully 25% of its shares over the next few years and they're continuing

let's start with apple the good news is perhaps it's not a demand problem with apple. many of us are still clamoring after those apple devices and services, it's really a supply issue. >> exactly and obviously any time you see a $6 billion hole coming out of any print your eyes are popping out of your head a little bit but that is a reality right now with apple we've been here before and at the end of the day, if there's any company on planet earth that can get through these supply chain bottlenecks, headwinds, bottlenecks whatever you want to call them, it is apple margins held up well dealing with a company like apple and their historically flawless execution this is where they can separate from the pack. when i see apple clearly struggling with these issues i'm more concerned lower down the chain because you do think that eventually apple is going to squeeze out their suppliers versus eating the costs themselves stock is down about 3%, still well below the low as we saw just about three weeks ago so i don't think any alarm bells are ringing yet for apple but i'd be

emily: as innovative as apple has been, there are those who complain apple has not innovated as muchid under steve jobs. i am curious how you respond to that. >> apple is a much bigger place. i still think it is innovating. just because you want to see a new hardware platform or a new thing, that's not the only place where you innovate. you innovate software services, that is great and wonderful. we will see new hardware from time to time, look at the m1 max. they might not seem like a product category, but it is going to grow market share tremendously and their margins as well. emily: people wanted new product category. >> they always do. emily: what will it be? glasses? our car? are those things apple should be working on? >> it is one person's opinion. we have looked at ar for some time and it is all about the display technology. hopefully apple has something. one of our companies has helped with all of the many led displays. the next is about the car. we have heard about change of leadership three to five times, so maybe there is something there, maybe not. it is a great space to

back to you. >>> let's stick with apple apple watch reviews are out this morning.also got the news that apple will be holding another event entitled unleashed on monday new macbook models are expected to be the star of the show let's bring in john of the daring fireball tech blog. john, thanks for joining us. before we talk about the new watch or what to expect next week, first tell us what you expect in terms of these supply chain issues how much do you think apple is prepared for them and how much do you think they're really going to be impacted >> i think they're prepared, but i just did a spot check before this morning after publishing and the new series 7 watches if you order the aluminum models now the delivery date is already out and the titanium model which is $800, november 29th to december 6th already so, that's going to make it tight for the holiday quarter. i mean, for people who are looking to get these for christmas and the other holidays it is already tight. and i don't know about you, but for me, before halloween i'm not thinking about buying christ

even apple. even apple. they might have to slash production.yees say this is the bleakest they have seen in terms of wait times. how bad is it? >> it is not good, but remember apple has gone down allocation. ipod was on allocation for two to three years because we could not get enough fixed. apple has some of the strongest silica and contracts in the world. maybe the other companies can't get what they need, but apple has priority allocation. if there is silica and to be made, apple is going to get it because they are strict on how they work with suppliers. emily: as innovative as apple has been, there are those who complain apple has not innovated as much as it did under steve jobs. i am curious how you respond to that. >> apple is a much bigger place. i still think it is innovating. just because you want to see a new hardware platform or a new thing, that's not the only place where you innovate. you innovate software services, that is great and wonderful. we will see new hardware from time to time, look at the m1 max. they might not seem like

obviously it's not just apple. mark: google is going to announce the pixel six on tuesday, a day after apple's announcement. we will take a look if they will have a supply chain crunch related to that project as well. amazon announced a slew of new devices a couple of weeks ago, including the home robot. a new echo. those have shipping times quoted at the end of next year as well. clearly this is a problem affecting all major consumer devices. emily: what are you watching for next? mark: the next big thing i'm watching for is looking into next year about apple's augmented reality and virtual reality headset plan. that's the next major launch from apple. they were hoping to discuss that product publicly this year. that's not something they want to introduce virtually. this is the first new major category in seven years, they want to make a big splash, so it will be introduced next year. this is an interesting story for consumers, developers and the industry about how apple is going to be able to tie everything toget

how do you like them apples?onight carter and tony are reading from two different scripts about the drama that is apple. >>> plus calling all options actions fans reach into your pocket, grab your phone and tweet us your question at "options action" if it is nice, we will answer on air. when "options action" returns. trading isn't just a hobby. it's your future. so you don't lose sight of the big picture, even when you're focused on what's happening right now. and thinkorswim trading™ is right there with you. to help you become a smarter investor. with an innovative trading platform full of customizable tools. dedicated trade desk pros and a passionate trader community sharing strategies right on the platform. because we take trading as seriously as you do. thinkorswim trading™ from td ameritrade. the sleep number 360 smart bed is on sale now. becit helps keep youing effortlessly comfortable by sensing your movements and automatically responding to both of you. and, it's temperature balancing to help you stay com

what does it mean for apple? will it get worse before it gets better for apple? mark: absolutely.hey took a 6 billion dollar negative revenue hit for the fourth quarter because of the chip shortage and other issues. essentially, tim cook was saying if not for the chip shortage, we would have at a record q4 porter. he sang the negative impact will be larger than $6 billion. apple will have a year-over-year gain in overall revenue. last year, they reported $111.4 billion in revenue, an all-time record for the holiday quarter. analysts are calling for one hunter $20 billion, or were before -- $120 billion. you can imagine they will fall somewhere between those two numbers. those are huge numbers. that is growth year-over-year, but not as big as tim cook, apple, and some investors and analysts would have liked to see , given how strong the portfolio is, how much demand were seen for the high iphone 13. emily: what is apple doing to fix the issues? can they? mark: tim cook was defensive when an analyst asked about the supply chain strategy. he was basically asked, is it your fault you

. >>> we start out on apple. josh has the detail. >> apple just unveiled the new iphones last month, but bloomberg is saying they may cut production by as many as 10 million. the reason, prolonged chip shortages. according to bloomberg, apple is saying suppliers are having a tough time delivering enough components i caught up with gene. not a big surprise apple did flag as a potential challenge. cfo luka said it would be greater in the quarter than the constraints impacting iphone and ipad >> 10 million is probably a 5 to 10% impact over 6 months though gene says it only delays the man, not destroys it back to you. >> the big question here, guy. this sort of confirms what everybody's fears were about the crunch it may not be as transitory as we thought >> going back to september of 2018, we saw it in january, '20 and earlier this year where you see a peek drop or decline from 15 to 30%. the question is where do you buy the stock. i think that comes in the form of 135 we have seen negative headlines from apple the

as we more from the apple earnings call.ook talking about how the supply chain crunch is impacting business. >> for this quarter, we think the primary cause of supply chain related shortages will be the chip shortage. it will affect, it is affecting pretty much most of our products currently. ♪ emily: let's get back to facebook's name change to meta. ed ludlow with the new sign right over his shoulder. what has been the reaction? ed: it took seconds for them to reveal the new logo after mark zuckerberg made the announcement. hundreds of employees have come out to take selfies. we know they have been ramping up investment. they made this big announcement this week that they will ramp up capex to up to $34 billion next year. they are putting their money where their mouth is. what's interesting is the reaction on social media. some people believe it's not real. zuckerberg was candid about how distant this is from being a mainstream thing. at the end of the decade, it could touch a billion people what we are only talking hundred

>> we'll start with apple and amazon this morning. of course, both stocks lower amazon with its first earnings miss since the beginning of the pandemic and apple earnings in line first time it hasn't beat since 2016 and, of course, sales did miss supply chain was the main drag on both. manufacturing disruptions impacted sales by $6 billion but the demand, they say, is still there. amazon a 20% plus drop in growth says the company will take on several billion dollars of extra costs in q4 due to labor shortages and supply chain constraints. you can see the pressure on both names taking out more than $1 billion on market cap between them, john but the bullish rate at least on amazon today will come from the likes of morgan stanley and they're pulling out all the stops they argue to make holiday work and that sense of reliability, they think, will have implications not just on competitors for holiday, but how consumers view amazon in the quarters that come after that. >> it makes perspect sense to me, carl amazon can afford to pull out al

if apple can't get parts, nobody can get parts.said it earlier when they announced 2022 is going to be worse than 2021. they're negotiating the con tracts for supplies now. prices are going up. so i think they're going to spend quite a bit of time about that because they're going to spend the next several quarters and they won't be free and clear of the overhang stock until investors get vis bltd whether this is going to end any time soon. >> and what is the risk that people decide not to bother ordering that new iphone when they ultimately realize over the last month or so that they dornlt need one, and, yes, we might have a disproportionately large pork of people who haven't upgraded for one but maybe they'll start to think they didn't need to. >> i don't think you'll buy into that thesis. i found 12 was a big seller. the first 5g phone that came out, you had the user base who had not upgraded this is very much like iphone 6's success. apple has been telling suppliers to be ready for more when you look at the guts of it, there's

a new area for apple. two new high—end laptops powered by apple silicon chips. the uk, manyjobs lost in the music industry since the start of the pandemic. it calls on the government to intervene. we begin in the uk where the government wants to and the sale of new gas boilers by 2035 in england and wales, while offering grants to homeowners from next april to replace them with heat pumps. households will be offered up to £5,000 to install new heat pumps or other greener heating, all in a £450 million boiler replacement scheme, part of a much bigger effort to decarbonise buildings, costing nearly £4 billion. however, critics say the scheme is unambitious as the scheme is unambitious as the grants only amount to 90,000 replaced boilers, as our consumer affairs correspondent reports. they came down there and into the corner. there is a secret under richard's garden. the heat from his home is absorbed through an underground network of pipes and come through a ground source pump. this is where the actual hardware is located. he swapped his as hardware is located. he

and apple is ready for that.hey line up their production process through the months ahead of that and make sure they have enough. this year, they are running into the same problem that other people have. they can't get enough of these key components. we mention broadcom and texas instruments in particular have been having a hard time producing and as chips to meet demand. apple is the biggest company, the most valuable company out there. for many of these companies, it's the most important comfortable. -- customer. they will have a harder time with all these automakers and other technology companies that are out there trying to get enough chips to be able to put their products out the door. mark: good afternoon. what does this tell us about the broader chip shortage that has affected automakers and tech companies? peter: yeah. that has been a chronic problem for about a year now. there aren't enough chips to go around. we've tracked the average waiting time to get chips, now nine months in a row, up to 22 weeks a

number we're watching for apple.valuable company, if these trading results and these trading moves hold into regular cash session trading after the opening bell at 9:30 a.m. eastern time microsoft will become the world's most valuable company pending any strange pre-market trading in apple shares between now and then also highlighting a few earnings movers chevron, mule brands, conglomerate think sharpie's, armor's glue and doing well. although citing cost pressures affecting this going forward drug side, better than expected results there. humira arthritis drug continues to perform and newer drugs helping. abbvie shares up and to the down side, charter, and a media company, charter communications, maybe concerns echoed by some traders around the broadband subscriber additions. down in the pre-market trade and a check on the most popular ticker searches from our full session yesterday on cnbc.com our website. ten-year treasury note yield, by the way, falls to number four on the list, because of so many stock-specific

>> is this apple being apple, trying to be different from the pack? >> i think so. this is apple, perhaps, catering to a small number of people who don't want to get vaccinated. but that has got to be a pretty small number. this is a community that is very vaccinated in a town that is very vaccinated. as of this evening. santa clara county says 85% of all of its residents over the age of 12 are fully vaccinated. so, the odds of someone going back to the space ship without vaccinations, pretty slim. >> why do other companies do this where you don't have to get vaccinated but get tsed daily? >> i i think it's not just big tech and big companies. employees have the upper hand. remember, lots of companies are running out of employees or not able to bring back the people they need to get the job done. so, right now, i think companies are taking the temperature of their employees in a way we haven't seen in decades. >> thank you, scott. >>> our question of the day how do you feel about getting daily covid testing to get in your work space? what are you seei

series in favor of new businesses like the apple watch, iphones how important are macbooks to apple'srall business >> they're extremely important i think you are right. there was a feeling that apple had neglected the line perhaps with the benefit of hindsight we can now start to understand that the work they were doing on the chip sets that go into them had perhaps affected their road map a little bit but they seem to be doubling down very much on this now and it's part of that broader ecosystem that apple is delivering to their customers. they like to have you connected in a whole host of different ways and whether the touch point is an iphone or a macbook or watch whatever, they bring all those things together and it really acts as a tremendous lock in for the apple freight train >> when it comes to the lock in, apple has now, for years, been trying to get the investment community to value it more as a services company obviously the more apple products you have the more likely you are to be hooked in, like you said. if you look ten years down the line, are we going to be buying har

we have apple and amazon earnings.mazon down 4.3% after hours with it, or holiday sales forecast -- with a poor holiday sales forecast. they will have to hire more holiday workers and that will cut into their profits. -- attributing it to supply chain concerns and the fact that they will have to hire even more delivery workers, cutting into their profits and taking it on the chin. they have been down 6% after hours. apple seems to be the big story, sky works and broadcom have pared those initial gains. also missing on revenue. what did well was there ipad revenue. do you start to see them come back up going into the holiday season? it doesn't look like regionally. china seemed to be a performer, but the rest of the world, not so much. emily: let's bring in our next guest. what is your take away? all retailers are dealing with a lot. supply chain issues. but with mac and iphone sales missing, that is kind of a big deal, right? >> i don't think it is a big deal. but apple still grew at double-digit growth. they continue

what are your expectations there and maybe apple tv and what we should be looking for as apple continuesy don't provide gran lairty of what's going on in the service. but the cost is so high and if you compare it to the margins of someone like netflix, for example, the margins are much lower than the hardware business we look at things like tv and a lot of the services as an ecosystem play, just pulling people into the ecosystem and keeping them there and, you know, our bottom line in apple is, iphone is just the biggest product in the planet and it's very hard to get away from that gravitational pull of iphone in terms of the effect on profitability. for services it's just icing on the cake when you have a good iphone generation as we do now, just a growth in services adds to the top and growth in profitability. >> thank you for giving us a primer before the apple earnings >>> now to amazon, that stock hasn't recovered from when the company reported second quarter results which included a rare miss on revenues, down 6% since july it shows a slower growth in ecommerce. supply chain issue

embedded they became apple inc.to have been made more than 45,000 years ago was found in a cave never met valley on the island. previously, rock art found in european sites were thought to have been the word�*s oldest artworks. the bbc in indonesia given access to film inside the cave. rebecca reports. here in this remote valley is the worlds oldest known painting of animals. the discovery made by a doctoral student at australia�*s griffith university. 0n the map we found this unique location. the area is surrounded by mountains and in the middle there is this valley. so we were curious and decided to explore. the name means buffalo cave. during the monsoon, this area easily flood so in the past our ancestors kept their buffalo inside the cave to protect them. 50 metres inside the cave they found this panel that appears to tell the story of wild pigs fighting. translation: the panel expresses quite - a complex narrative. two boars are painted on top of each other. if we look closely at pigs it looks like the artist

i'm long apple, staying long apple. if it trades down lower than now, maybe 140, i will probably buy more >> it is sort of a fine line when he says the supply constraint cost will be greater, but solid revenue growth is expected year on year to an all-time record. tim, doyou say we are poised t be okay in the calendar fourth quarter. do we look through this calendar third quarter results? >> i think you look through the results. we have a massive 5g refresh cycle going on and growth in services 25% plus growth in services year over year, nothing to sneeze at. two years ago we would have done cartwheels this isn't a big surprise for apple. the problem is this stock came in high. the supply chain disruption conversation, similar to what we got last quarter great execution and performance, solid margins, too i think we heard about vietnam, the camera module, some of the things that have been greater disruptions than expected. yes, this was a bit more but this is a company on the capital market side in terms of what they ca

and we're going to get apple this afternoon and apple is trying to deliver more devices remember, appleakes millions and millions of iphones. complicated, you know, high margin device. and their supply chain issues globally but it's also one of the best in the world at supply chain. so when we're looking at overall how tech companies can balance supply and demand, we want to see what's really going on and what the best companies are doing. watch apple and see how it's being affected, what it says about suppliers and what it says about diversification in its assembly and how it has managed to navigate this. >> it's a great point. and carl, it also speaks to the fact why these tech giants may be fairing better than the rest of tech because they have that purchasing power you talk about all of those millions of iphones hitting the market that's one of them also i don't want to ignore ebay jon, you said shopify the innovator. ebay, the innovation it put into effect a few years ago developing its own payment system, carl, that came through, at least in terms of profitability. but the setup r

when you look at apple supply, you can see the tie up. there is a little bit positive as we saw the export surge. a record, despite that slow down, the energy crisis is still seen strong export data. let's look at the board in terms of pbi, the key want to watch. we will likely see a surge in inflation on the factory floor. this is also for commodity prices. bloomberg economics is suggesting we will be at a 10.5% jump after a 9% jump in august. the cpi is expected to rise. dani: thank you so much. the cpi numbers are coming up. let's get everyone set up for the key things to watch in these markets today. we have u.s. bank earnings season kicking off. we will have further discussion about this in 30 minutes. that kicks off with jp morgan. manus: yes. some of the data points. 1:30 yen, we will keep an eye on that. 7:00 p.m. u.k. time, this is the heart of bostick. he has moved up his timeline on hikes. dani: how many times will they say that dirty word, transitory? i am ready for the daybreak tips jar, the dirty word tips jar. i am going to

i say own apple, don't trade it. i've never seen demand more people want the product than they can make. both apple and amazon are reflecting the challenges we talk about every day and we saw that with ambiguous zone >> of corporate america. it's truck drivers, paying all these workers $18 an hour, they still made a lot of money. by the way, amazon web services reaction sell rated. advertising -- david, i know you're focused on that as an additional revenue stream. >> very significant. the growth we talk about a lot, but advertising, they're very, very high profit margin businesses, unlike the core retail >> i had prologis on this week, and they talked about you have to build warehouse that is go high you can't do the warehouses in the country anymore. you have to do basically skyscraper warehouses, and the technology inside costs a fort is not in order to deliver my take on amazon is if i were jassy, which by the way, i'm not, i think he's a giants fans, but we've got to raise the cost of prime >>> there's a story i

that's an issue for apple.o imagine a lot of folks are like let me buy this computer and cross my fingers and hope it shows up by christmas time so apple is going to get hit, like everybody else due to the chip shortage and supply chain issues but it's in goodpositio because it makes its own chip. and apple is a beast the scale is enormous. and it's a supply chain expert that's one of its core competencies so i think it will be better positioned to survive this than many other companies. >> you're saying they're supply chain experts. they're also experts in branding one thing about this macbook, it's pretty expensive, pretty much $2,000, what do you think that's going to mean for consumer demand and also expectations for this macbook? >> i think we go through our normal cycle with apple, most people look at the price, starting at $1,999 no way i can afford that same thing with the iphone every year, people say how dare they charge that much then you get over the sticker shock and we pay apple yesterday we were

peers like alphabet and apple. the name change, the obvious comparison is to google which became alphabet in 2015 but thanks to marc beneoff the more appropriate one, julia, may be philip morris. i know a lot of memes and jokes floating around twitter what this name could be the obvious question, who thinks this will work we're talking about google and alphabet and alphabet parent and it's just confusing for us reporters. >> right i hear you, deidre i think what is so interesting here is what is the message facebook is trying to send with this name. yes, of course, they're trying to distract from the headlines is that going to help them avoid regulatory scrutiny? no will it help with consumers? we'll see. there already are a lot of people that don't understand that instagram is not part of facebook then, of course, this question of what this new vision for facebook is going to be. they talk about being a metaverse company and this announcement is expected at this facebook connect event that is scheduled for next we

that's what apple is trying to take the lead in here.hey're going to grab share if the others don't answer. >> right the first nine minutes of that event yesterday dedicated to chips. it was clearly the start and as you mentioned at the top, jon, you're seeing this sort of as a threat to the traditional chip makers. and not just on the pc front, but on the data servers overnight, right alibaba unveiling a chip, the most advanced in china so far and doing it itself. the fact that a chinese company, carl, is unveiling this sort of advanced chip perhaps raises questions as xi jinping's drive to -- for china to get better at chip making. is that bearing fruit right now? what does that mean to the complex? >> yeah. and as for apple, guys, morgan stanley this morning the most aggressive step yet to strip intel chips out of their pcs, jon. they make the point by adding the m1 pro and m1 macs they can take their chip line and decide whether they want to go high or low within their own in-house production. >> that is true at the same time we expe

that's what apple showed us. regardless how it traded today, it shows us we don't know who is susceptible. >> to guy owes point, i think it was opinion. tweet at me, guy melissa, it's human nature i have four kids they have excuses, i have excuses. you will take any excuse you could possibly pick. the earnings bar is much lower than last time around. what do you want to do with that i would guess you want toob buyer of the market much when you intro the show, you came up with 4% from all time highs. also 4% from the 200 day moving average. backtrack. if people wanted us to sell from the all time high off 10% to feel good at an entry level, that's where we get to that. it's my opinion we are going to have a choppy october, seasonality, i have seen that as long as i have been in the business and then all-time highs in november and december. i think you are trying to hold a beach ball under water rates are not aggressively high. i think the market will be bought >> do you think that's how the market is set up and ho

the mac has been a winner for apple. more people look to the machines as they learned and worked from home during the pandemic the question is whether apple can keep the momentum going in quarters ahead reports indicate apple has been hard at work on the next generation of the lower end air pods, too, so we're waiting to see if they make an official debut as well. kelly, back to you >> josh, we will see you again soon hopefully our josh lipton. >>> the next guest says apple and other faang names is leading to transition in leadership in tech and other sectors, especially with bond yields doing what they are today. should investors resist the temptation let's welcome in the chief investment officer at the bonson group. technology is where you make the big gains in the long run. >> well, i think that there's a couple of different arguments there. i believe cyclically you have seen whole decades where technology made a ton of money and whole decades where it made no money we know what happened in the '90s and the decade fol

the new apple music plan is screen list. it's using apple music without an app.ot sure i would pay five dollars a month for a service that requires you to use siri to operate. at this is targeting a new feature amazon rolled out about a year ago which allows you to pay a lower price for amazon music used through your echo speakers. in terms of the new airpods, my question is where is the new airpods pro? these are better than the airpods pro -- an extra hour of battery life, you get universal fit. the only difference is it doesn't use noise cancellation, which to be honest, it's not very good anyway. for airpods bands, people who want to buy new airpods comedies 180 dollar airpods are probably for you. shery: always a pleasure having you on. the latest changes there in the company. time now for morning calls ahead of the asian trading day. bond call staying in focus. sophie: we are seeing three and five year yields, a jump ahead of that report and given the focus on bonds, i want to focus on china's bonds. they join the global selloff to push yields above 10%. th

apple is falling while microsoft is little changed.f the result holds up, the software giant will have a market cap of just under $2.5 trillion, beating out apple. the last time microsoft dethroned apple was in the first half of 2020. a the quarter for big oil, chevron posting its largest profit in eight years. surging natural gas prices boosted cash flow to an all-time high. exxon mobil posted its biggest profit and seven years. the company pledged to spend as $10 billion on share buybacks. chevron is considering buybacks as well. coca-cola is close to buying a controlling stake in the sports drink maker body armor. bloomberg has learned a deal would value it at a billion dollars. in 2018, coke acquired a minority stake in the company. power it is -- power ade is a competitor of --. global news, 24 hours a day, on air and on quicktake by bloomberg, powered by more than 2700 journalists and analysts in over 120 countries. i'm john hyland, this is bloomberg. ♪ >> markets are grappling with a regime change, particularly for the inflation

>> i already own apple, i like apple.ght in my portfolio that i'm not necessarily going to do anything at the moment. but i would say to somebody if you're just starting or starting to add apple to your position, yes, on weakness i would buy apple. i'm not buying it because it's the right percentage in my portfolio, so there's no reason for me to. stuart: kenny, i'm sure you saw this. this morning microsoft surpassed apple to become the most valuable company. >> right. stuart: i think it's now worth $2.5 trillion, apple 2.4 trillion. what do you make of that? >> i think it's great because i also own microsoft. [laughter] i'm as happy as you are right now. they're looking to hire some 250,000 cybersecurity experts or people, whatever -- over the next couple of years. so i think that's the way the world is going, clearly, and so i'm bullish on microsoft. and i'm bullish on apple. stuart: microsoft still has room to run in its cloud business. >> yeah. stuart: that's still a huge business with lots of opportunity, and microso

so i'm not going to sell out of apple from this. i understand that this is certainly going to create a little bit of a pause element. >> it's having a pretty good dd day. it's up 60 points. these mega-caps, apple included, are correction territory i mean, they're 10%. most of them off of their 52-week highs whether it is apple at 10% which is down 5.5% in one month and facebook's down 15.5 and its had its own issues. i totally understand that, but nonetheless, we keep them within the group. alphabet's loss and microsoft's loss has been less severe. we've talked about the importance of these stocks to the overall market if you're going to avoid the deeper correction that the likes of mike wilson continued to call for, you better not have a further breakdown in these names. >> that's right. and that just further proves the point i made earlier i don't think we'll make new highs. we can't really make new highs unless we have strength in the big-cap names and i don't think we'll see that through the end of the year and the fed still tap

it has also added to headwinds for players like apple. flipping the board, heads up today, we are seeing the premarket session. haidi: you are still in the office, so investors weighing inflation risks across markets. here in the u.s., we saw consumer inflation expectations rising to new highs on the new york fed survey. >> my baseline case is not for stagflation. i live through as a college student the great stagflation of the 70's and i think there are a lot of differences. haidi: as a result, you saw choppy trading on that inflation outlook and we continue to hear from the likes of raphael bostic transitory is a dirty word, but janet yellen also reiterating her call, saying she feels like it is transitory. she sees isolated pockets of overheating, but sticking to that narrative we see clearly in the markets investors are deciding to get concerned about how this will play into the earnings outlook. shery: this, as we continue to see more disruptions coming that could send inflation even higher. we are talking about apple cutting potenti

. >>> two hours away from apple unleashed. new macbook pro perhaps.ll that means for apple's long-term investment. >>> exchange for crypto goes public as bitcoin hits 62k dee, welcome back. >> bitcoin has gown places while i've been gone our feed is going to start with streaming. and the streets you call it anxiety on disney. ar clas downgrades thestock today over long-term streaming concerns down nearly 3% slow in growth disney plus the chief catalyst saying it may be tough to keep pace with netflix, which by the way gets its own boost this morning ubs reiterating the buy. bumping the price target up to 720. julia is here to break that down as well. and julia, ubs really points to popular series, new hits as driving that sub growth and you know, netflix still basking the success of squid game and over the weekend another series, you, an existing one, topping the charts >> that's right. welcome back, deirdra. so great to have you back. and i think you really nailed it the question iscontent and subscriber growth. how do those things interplay. i think

it was a seminal moment when apple had a real fall.at the chart, you can't make out what happened it bounced around from 13 to 14. it's ten times higher. since then we had tons of the stories. chatter about supposedly lackluster new models. endless talk about how the phone should be tune ups and not upgrades that was one of the most seminal, bear moments for apple. the stock plunged from the 50s to below 40. remember a lot of people were saying that apple is best times were behind it it's pretty nasty, right i remember these because i came on tv each and every time and urged you to take the other side you don't get a lot of buying opportunities like you have here how did that do? what about it now. it's true that apple is having trouble. that's fact. it could be ten million short this quarter i don't know if apple is struggling here, think about how bad for the rest of the industry. how come i'm always so confident in apple they have the best technology and the best customer loyalty and consumer product spacing that's rare to have best

if you look at content the exciting part of apple on the media, my partner covers apple the stock butcontent, ted lasso if you go to a cocktail party nobody is talking about did you just use apple music today. they're talking about ted lasso being amazing if your viewers have not seen him, it's great. there is excitement around the video product in the music product feels like it's taking much of the backseat between other companies between other priorities. spotify does one thing, all they focus on the best audio experience, music, podcasting, live audio that is all spotify focuses on. no other distractions and they win. the advertising pieces what's getting exciting and exciting investors today. liz: as great as ted lasso is, netflix content spending is epic. you have got to tell me where you see the next big catalyst. is it the season two of "tiger king" coming out november 17? can it be as sticky or a catch to the viewer as the first one was and maybe even bigger than squid game. >> netflix was supposed to have, they were telegraphing for many months that q4 2021 was going to be a

also watching apple suppliers in asia.k saying supply chains are expected to worsen this quarter. coming up in the next hour of "daybreak asia, the outlook for chinese banks. we hear from the head of china research, plus mizuho bank seeing a bond selloff coming to india and korea. the head of economics and strategy joins us very shortly. the market open in seoul, sydney, and tokyo. ♪ (announcer) looking for a better way to lose weight and feel good? how about the one with a 98% success rate and a more affordable weight-loss solution? that's golo. there are no monthly fees and it's guaranteed to work or you don't pay. no stimulants, no starving, just results, results you'll keep for life. with over 2 million satisfied customers, golo is the new way to lose weight. go to golo.com and get your life back... -with golo. -golo! >> welcome to "daybreak asia." asia's major markets have just opened for trade. >> our top stories this hour, aipac investors wager rations in the bond market and the drop in equity futures after amazon a