about apple. and, you know, i just think there's something funky going on here because why is apple levitating here, guy will tell you it traded down to where it needed to do last week to 200-day moving average now at 152 but down 6% on the year, given everything we know about inflation, supply chain, international demand, a surging dollar, why is the stock trading like that? i think somebody mysteriously is buying it, guy, maybe it's your plunge protection team it just doesn't make a whole heck of a lot of sense to me i think the fed's like you know what, we can't buy bonds right now because they're tapering maybe they're buying the biggest equity in the world. i will kick it over to you, guy, if the s&p isn't falling apart and every other risk asset is sloppy then maybe that's what the consumer needs to see >> maybe because it's flight to safety, maybe because it has a lot of cash, maybe because it pays a dividend, maybe because it has pricing power, all of these things, pick one or all of the a

emily: apple ceo tim cook there.icking off what is likely to be its most prolific year yet for new product releases. we are breaking it down with mark gurman. we've got iphone, new ipad air, talk about the most significant updates we saw today. mark: the two most significant products we saw was the iphone se andy display. i will consider that a combined product line. starting with the sec, it is significant because it will bring over a lot of switchers to the iphone, particular people who want to get a low price 5g phone. the big news is 5g. i'm not of the school of thought that thinks 5g has moved the needle in terms of performance but i do believe it has been a key marketing term for samsung and apple and other carriers. so i think that is going to drive some interest. the max studio max studio display is going to do fairly well. consumers have been looking for a apple-designed display since they discontinued their own display six years ago. at $1600, it's a third of the price of their pro is play, so it's going to

meta is paying more than apple for a number of very similar positions. apples to apples, right?so has a remote work policy, so you can work remotely for as long as you want, whereas apple expects you in the office three days a week. with google, you are expected in the office three days a week. everybody is competing to turn out these products. emily: we will see how that shakes out, apple apples, as you say. as always, thank you. grocery delivery upstart instacart has slashed its valuation by 40%, as the public market declines across the industry. it raised money at a 30 -- $39 billion valuation last year. the new valuation is $24 billion but the company believes new numbers will give new employees more upside. i want to bring jackie davos for more details on this bloomberg scoop. instacart is voluntary -- voluntarily lowering its valuation, fairly unprecedented but when you look at companies like doordash where we see massive declines, shop five where we see massive declines, they say this just makes sense. give us more context on why they are doing it. jackie: you put it perf

future fintech products, things beyond apple pay, things beyond the apple card and apple cash in-houseow, apple has a few partners in the and -- fintech space, goldman sachs, green dot bank, and a few others. they want to bring the underlying technology that they leveraged from those partners in a house for the next sweep of apple financial services. emily: who does this hurt? mark: definitely hurts core card. every credit card require what's known as a core processor or a payment processor. that's the engine that allows banks to either approve or reject a transaction. the core processor or core card does a lot more, they handle disputes, they handle parts of customer service for goldman sachs, they handle other underlying infrastructure for the financial system. and he saw their stock drop i believe more than 10% on the news this morning because investors in the country and analysts know how important work hard is to the apple card and goldman sachs. apple is building their own full on replacement, meaning core card rome -- won't be apples partner. apple will be going at it alone. emi

apple is far from it chris brought it up yesterday that he thinks apple should fall before we're done with this damage to the markets. >> you know, you get people obviously hate when you sort of say anything negative about apple, i get it, when apple, it seems like each month it makes a new all-time high but it has had meaningful set offs in the last five years and the thing important point out, dan talks about all the time, wonderful company, when apple was a growth stock six or seven years ago was trading at 12.5 times forward earnings now that it is a value stock, by any stretch we can agree given the earnings growth and revenue growth stris trading at growth stock valuation, doesn't make sejs s&p is coming in maybe a little bit rich talk about apple, close to 27 times next year's numbers, that's expensive in this year's environment. that's just factual. you can come at me on twitter with the apple hate but facts are facts and that's what we're looking at right now. >> we'll have more on apple later in the show. crude up 4% today. wti at more than 20% in the last week let's bring i

apple >> i don't think this apple deal is a huge deal for broadcom.e are expecting for an update in se which is not the highest profit dollar item not the leading edge component but carrying some of the chips through from the flagship devices, carl. but that event will be interesting to see what apple does with pricing in an inflationary environment they can afford to be -- constrained. >> i will be looking to see. apple said it will return to a deadline for employees google earlier in the week saw that either. >> i think we will see that speed up, especially in san francisco. meanwhile disrupting the playbook with its playbook sequoia, the proceeds go back to the main fund and it's a continuous loop. they announced the first three sub funds, a 500 to 600 million crypto fund focusing on liquid good to see you in person. >> the last time we saw each other in person was two years ago. >> that was nearly two years ago to the date you issued that black swan memo warning founders at the start of the pandemic of new economic real yits two years later are we

interesting, apple, 5g enabled. the stock is down 1.2%. they caught up in the volatility of the tuesday session. >> it has been a speaking -- becky day indeed. i have to talk to you about the big picture. starting with oil, the u.s. cutting off russian oil along with the u.k.. what kind of ripple effect do you expect this to have on global markets? how contagious will this be? >> coming into this, i thought oil posted the biggest risk to the market. not just because of what the price level is. there is not necessarily a magic number that would be suddenly terribly concerned -- concerning or break everything but it is the swift move up that the market does not know how to digest. and the fact that we don't see an end insight with the supply disruption this war has caused. even the move today was expected. it was pretty well signaled. but we already had this big run-up in prices. this big run-up is making inflation that much more of a threat to global growth. it is making it a threat to the fed and what they have to choose between. it still

a red tasty apple there is sweet. put some new juice on the shelf, that is, the question is whether the consumer will buy it, if in russia some new variety is even being developed, then there are no investors ready to propagate it. i mean, he just collapses and gets put on the shelf, and he's, well, on the shelf at the research institute, and he doesn't make it to the store because he needs to propagate it is necessary to advertise it. and again , it's money. and yet, if russian apples were grown, there would be nowhere to store them, most likely, in order for the crop to overwinter , huge high-tech storage facilities are needed, where there is a special gas, environment, temperature, and humidity. even now, when there are few domestic fruits, such apple refrigerators are not enough. modern refrigeration capacity to clear a huge shortage now what is really surprising that apple juices. mostly made from concentrates, which squeezed abroad and brought in such huge tin barrels of chinese concentrated juice. this is, as i

first though, apple. is it the key to the whole market right now farmer jim, who by the way, trimmed this stock in january, has not added back to it since, even though he's back to mr. all in apple shares are down since jim told us he was trimming the stock. it's at a key level according to mkm's jc o'hara. 152 and change jim. >> hey, thanks, scott. i don't think it's the key to a market yes, it's important, but here's why i don't think it's the key to the market. i see no way that it can expand its multiple in a regime where interest rates are slowly going to rise. if that's the case, if i'm right, then the share price growth the next 12 months is going to be equal to the earnings per share growth. that's anywhere from 8 to 12%. i'm not throwing shade at that i own a position, below market weight if i got 10% in apple over the next 12 months, i'd be happy, but yi don't think it's the key to the market because i see other areas of the markets where you're going to get higher growth and potential expansion

carrier is an important distribution partner for apple apple is going to make sure that the carrierstill have access to upgrading with customers and leveraging the carrier subsidies which are ultimately very important to apple as well so areas where you don't have those i think those are the areas you may see an upgrade plan kick in and they may bundle this with a host of other things as well whether that would be more globally remains to be seen. the important part from an apple perspective is that ultimately it's not just hardware, but everything that can be offered will be offered. they want people to stay in that ecosystem and stay stronger. you could make the same argument, for ipads, watches, everything they sell that you want to upgrade to the latest at some frequency apple has a report where you talk about the base for these replacement cycles i think they have a good view into that installment base the more frequently you can get people to do this. more broadly, the portfolio of time helps >> even what we have taukds about in the past has been most popular in places like eur

we don't believe that the apple card were apple cash card or apple pay are going to drop.going to move to this new generation in-house infrastructure for future products. here working on several new fintech related services which is by now pay later service. it's going toave a high installment rate. high amounts, hi linda, but also a low amount program similar to affirm that apple is trying to do in-house and they could announce that this year or next. they're also working on iphone or another hardware program to generate more revenue. >> helpful context. along with navigating the existing partnerships which we will have to watch as they make this bigger push in terms of their resources, what they spend internally, what they go out and buy, is this going to influence what we see from apple over the next year? >> they are spending hundreds of millions if not more to bring more services in-house. that's in terms of engineering, internal engineering work on these programs. it's cross-country -- cross company effort. they are also buying companies. last week, they bought the c

future fintech products, things beyond apple pay, the apple card, the apple cash card, in-house.le has a few partners in the fintech space, goldman sachs, corecard, green dot and a few others. they want to bring the underlying technology that they leveraged from those partners in in-house for the next suite of apple financial services. emily: who does this hurt? mark: definitely hurts core corecard. every corridor card requires what's known as a core processor or payment processor, the engine that allows banks to either approve or reject a transaction. the core processor or core card does a lot more. they handle disputes, they handle customer service for goldman sachs, they handle other underlying infrastructure for the financial system. their stock dropped, to believe 10% of, because investors and company analysts know how important corecard is to the apple card and goldman sachs. now, apple is doing their own replacement, meaning corecard will not be apple's partner in future fintech products, app be going it alone. emily: so this will be apple's biggest foray yet into the worl

when i look at apple and apple, they are hitting their next leg of growth going into the iphone 14 and that i think is undervalued by the street. it is a rock of gibraltar tech name and with that greenlight in tech, it's not even our opinion that they will have a two in front of it in the coming months. emily: what sets apple apart to you compared to some of these other big tech names that have commanded such high multiples but seem to be struggling more now, whether meta-or amazon, for example? dan: what is unique with apple is the services business. this is 80 billion in revenue. underlying demand on iphone 13 premium is unlike anything i've ever seen from apple in the last five or six years. compare it to meta-, that is one because of apple, because of cook, that is a different business model because the ios changes. what you start to see with apple, it's a offensive name and also an offensive tech name. many that we saw over the last few months, going into what i believe are streak numbers are still conservative. emily: do the production cutbacks concern you? dan: this over all, in

we saw apple take a dramatic move today as well.ly: we internally keep discussing all the options on how we must support everyone. ukraine region and how do we do what is appropriate as a corporate citizen, this is a quickly evolving situation and we keep assessing, monitoring it and try to make a decision real-time. emily: you mentioned zoom phone earlier. talk to us about how well these ancillary businesses are doing and whether you see that sort of padding, any lack of growth you might see in the core part of the business over the longer-term. kelly: our strategy has been to start with zoom meetings and then continue to expand our share to customers by selling additional services and zoom phone is a perfect example of that. we also see zoom rooms as organizations think about welcoming employees back to the office. the conference room strategy is key as they have employees or working remotely that it is inclusive and they are bringing them together in a way that works for everyone. also, we expect work to be hybrid and we expect e

you are so dialed in with netflix and apple.it really a rivalry when it comes to the movies now sr-it more of a media sensation? >> it is a rivalry. not just for awards. that's one thing. but really now two companies that have big bank accounts, and let's face it apple's is bigger than netflix's, that can now put movies together and hire big stars. we've started to see that already. i mean, there are two theranos movies out there. apple paid jennifer lawrence and hulu did its own. we are going to have a lot of movies where you have got big competition for the writers, for the directors, for the actors and actresses and it's not just going to be the big studios. hulu and-amazon and peacock and apple and netflix trying to get these things to your tv screens and your smaller screens as well. >> it's wild. it's wow. even more wow than the slap. it's wow to see this happening. >> that's saying something. >> thank you, scott. >>> let's take you outside on this monday night. a live look in san francisco. you see the bay bridge there. j

am's made significant moosh moves with apple pay, apple card plans to launch a tap to pay feature on the intel space who is most worried about this move? >> square. right? tap to pay feature you mentioned. letting businesses load up software on iphone don't have to buy special hardware and boop your phones together and make your payments. a square killer right there. fintech acquisition, sara, interesting. this can link it to your bank account and credit kudos can get a better picture of your credit score. could be used by apple on the back send to do things like figure how much apple credit to g give you on the apple card buy an expensive apple, new macs that cost upwards of $3,000 and want a payment plan, figure what your monthly payments can be, something like to. more as a back end type thing for all of these apple pay features's who knows what kind of financial products they want to use it for in the future. >> where and when should we look to the fintech part of apple as a revenue driver for the company? >> part of the services lumped together same area as at-store sales so on

you can be a part of that apple trade and one of the things that stood out about apple is what tim cook said about their credit card everybody else is focusing on another thing today and i'm focused on the credit card because they have stunning growth and that's something you don't hear him say very often about some part of his business and he doesn't use those words and that will be an incredible area and they're always creating something and we have wearables and services and all of a sudden you're getting in the credit card world and you are seeing growth that you're stunned by. i think thats a l says a scomplr xafrmel today, crude is up and they're hitting a lot of other different areas of the marketplace within that and the nasdaq, but when you look at crude, take a look at what's going on with a lot of those different names that bryn talks about and that i talk about all of the time. i'm in those only in options the only one where i have a stock position is in chevron, but i am trading all those beta names because they give that that beta on days like today when you started off hi

if you look at the app store revenues for google and apple from 2021 based on apple disclosures couldup to $85 billion and based on google's analysts like 47 or something billion. so look, all the money is happening on ios in that ecosystem to your point. by the way, this is just a way for spotify to say, look, we're really mad at apple. let's partner with apple's enemy in this space and then a year from now we can come out with all this data saying apple's argument here has been wrong the entire time. we can just say, you know, the security hasn't been compromised. people's credit cards aren't being stolen or anything like that and that puts more pressure on apple plus this looming legislation coming up in the eu, the digital market's act then the bill is going through congress right now here in the u.s. >> i get that this puts pressure on apple it's notable neither company is disclosing what the new commission rate is there's so many questions. what is this going to look like in practice? google's product in engineering teams are actually going to be building a new experience. you'r

apple is a great example with apple pay. that's what you want to pay attention to.ey are talking about regulation in washington on both sides of the aisle, but the war has taken attention. do away with the acronyms? is that what you are saying? >> i added the mountain to it. i added microsoft and tesla. it's an easy thing to put your moniker around, but we have to find some new leadership as well. as long as these five or six companies take a large share of the investing mindset, people are going to look for potentially regulating. we have talked a lot about regulation. i don't think the average congressman knows how to use twitter. they have a lot of people who help them. if they can't figure it out, how are they gone to regulate it? emily: we have seen tougher regulation happening in europe, but much remains to be seen. thank you, mark. coming up, decentralized autonomous organizations. what are they and what is their role in the crypto ecosystem? we are going to speak to the cofounders of the platform syndicate next. this is bloomberg. ♪ emily: it is time for our

it was on thin ice against apple.about is that apple is talking about something i've begged them to do. >> hard work. >> a subscription. every time i speak with tim cook, i suggest subscription lifetime and, like, when i used to -- no. no no i said will you please break it out? we need it the last seven times i said if you can give us a subscription model, we have something big and i'm persistence. they're ood. i think they're coming around. >> maybe i was thinking the spring quarter, for example, is traditionally where they talk about capital return 'balance sheet. maybe it could be folded into that. >> i like it i get, you know, five or six bills that come between 3:30 and 4:00 a.m. from apple i would like --they offered me something that included apple plus and this and that and back up and everything. and if i act now, you know, it's certainly not the way apple does it but the credit card i would do it. i think tens of millions of people do it they got to be a little more creative and realize that the bundle is a

i intend staying long apple. today was an outside day so it made a higher high and a lower low than the previous day which means that it is -- it should in theory break trend if it breaks trend, the trend has been up. so you don't want to see it break trend. you want to continue the process. but everyone is going to be talking about that 182.86 number that is the $3 trillion market cap level that it was add before it faded the other thing i people will start talking about is the auto recurring sales event. to make it like a subscription stock. are you going to want to do the auto subscription stock for your hardware maybe, maybe not but i think apple is getting ahead of the service head wind that potentially could be coming at them. well i shouldn't say potentially, that has been coming at them regarding the apple store for years. but that is going to be an ongoing head wind for years. would you stay long apple and look for $200 sooner rather than later. even though technically you could get a little bit of a bac

funny you mention apple. we've held apple in our largest and older etf for nine years and just sold it this quarter. i'm feeling melancholy about that look, there's yellow flashing lights we've had stock valuations, which have been high for a long time we've had the yield curve inverting. we have a big one, which is inflation. a lot of people don't know about stocks hate inflation. historically, inflation above 4%, multiples get cut in half. multiples above seven, it's even worse. will it stay i don't know you have other things going on the stock raise, retail getting involved, high expectations. these are all yellow flashing lights but there's one indicator that's really the final boss, right you really need to overcome before you get fully bearish for the red light. to me, that's the trend. well, the trend of the market is finally starting to roll over january of this year we'll see where we end month end. things have been bouncing in tech and the broader markmarket. to me, it puts it from the yellow flashi

apple rolling out a low-cost iphone. the 5g technology are the top tech panel breaking down apples big announcements today. the fox market alert for all of you. wild swings today follow with the dow dip in the correction territory. the nasdaq and the bear market territory yesterday what a difference a day makes. we will ask our floor show. oil continues to be what we are watching right now. 12449 in the aftermarket, that is for the quarter percent. remember oil in the premarket yesterday going over $130 per barrel. all of the violent swings on crude contract has been roiling the market as you all know. president joe biden said that the united states will be in russian oil imports in retaliation for vladimir putin's invasion of ukraine. but the president warned of economic pain for americans. >> today i'm announcing the united states is targeting the main artery of russians economy. we are banning russian oil and gas and energy. this is the step that we are taking to inflict further pain on food but there will because as

plus, bloomberg exclusive, apple working on a hardware subscription for apple. why buy a device out right when you can pay a monthly fee? and uber will now left new york city -- list new york city taxicabs in an attempt to get a leg up on their arrival, lyft. oil, sliding, stocks rising along with it, bitcoin hitting a three week high. taylor riggs is here to break it down. taylor: when we think about the biggest moves on the day it's those inflationary pressures that were underway. really important when we think about the federal reserve. the equity markets as you can see are taking it in stride, they were posted near the highs on the session today, take a look at the nasdaq 100. big stocks that you just mentioned jumped with stock index chipmakers at more than 5% on the day, led by nvidia, intel, you name it, the 10 year yield, up eight basis points on the day to a 237 with a lot of those inflationary pressures starting to build. it wouldn't be a technology show if we didn't touch on gamestop just a little bit. these are the last days, emily, 82% on these meme

apple actually breaking its big win streak we will have more on apple in a few minutes. energy and utilities performing well closing at record highs yesterday as oil rosa gain speaking of oil it is down this morning about $5 a barrel. that on continued lockdowns on china and multiple reports that president biden is set to announce the biggest ever petroleum reserve release of all time all that ahead of the opec and opec plus meeting today. a lot going on with oil. we will have more with helima croft. and in bonds, the two-year note is 2.229%. global investors are watching for the inversion of the yield curve. the 2-year goes above the 10-year. you can see, we are not there yet. we are close we are not there yet >>> around the world, mostly red arrows in asia overnight after china are reported contracting in manufacturing and services for the first time in two years. it seems like the fall and ill-fated zero covid policy locking down cities from shanghai to shenzhen over a tiny number of covid cases. >>> let's get the latest from julianna tatelbaum in the london newsroom

if you look at apple where it closed a buck over the 200 day, apple hasn't spent a lot of time under 200 day in a couple years. if you think about, we have been saying this, the weakening of apple of four or five stocks actually would be consistent then from a follow-through of higher quality stuff on some level, let's get on with it we have had it crash there is no question about it. we will talk about the kweb. some much more important stocks, we talked about this with netflix. if you look at the tripping qs, they've under performed s&p 8.5% since january 3rd. the triple qs have been below the longest period they have outside the covid dislocation and the lows of march since 2016 again, so we have been in a tech bull market for a long time with a hiccup around covid. this should be concerning for people because i think this is at least a gut check. >> whenever you have a sell-off in the market, they always take the largest cap, safest stocks lasts, apple, google, amazon, microsoft. tape took them last. they didn't knock them off right. what they did knock off is all the ones we int

it will be something like subscribing to apple music or apple tv plus. matt: the beauty of those is that when they make updates, i get them immediately as a subscriber, or the consumer does. how would this work with phones gekko did you get a new device every year or every two years, when it seems the batteries are programmed to fail anyway? mark: yes, particularly on the iphone, those of the product you will be able to upgrade annually today. there will be an upgrade program. if a new iphone comes out, you will be able to swap your phone out for that new one. it is similar to a car lease, or apple music, or buying a new palatine under their test. if you stop paying that monthly sip scription fee, you will have to give that phone back. it is not owned, it is like a leasing program, but for the iphone. this will generate more recurring revenue for apple, it will allow them to sell iphone upgrades more frequently, and it really is moving from this outright payment model to the subscription model, which is becoming more and more popular for apple apps and s

tv plus and there's apple music. apple could put into that bundle, much like amazon prime does in terms of not only providing two-day free shipping but obviously having access to video and music. i think the more extensive and more compelling that bundle could be, the more attractive it would be so the devil's in the detail we'll see ultimately what apple does if they are able to successfully engage more people in a subscription type model, that's very good for the stock. it's very good for the multiple potentially. >> we have seen that in so many other stocks that as soon as they go to a subscription model and recurring revenue, it changes the whole multiple are you surprised to see how resilient apple's stock has been it's up now eight days in a row, at a five-week high. it's outperformed pretty much all of faang and the nasdaq lately given some of the concerns around supply chain, with shenzhen and a covid lockdown, and demand from china, and everywhere else globally right now with inflation >> right great questio

apple is up for an 11th straight day. there is a lot to talk about. this idea that we will see more battery metals. it is interesting to see makers like rebbie and of 17%. the biggest jump since the ipo on november 11. lucid is getting up there as well. >> thank you. we will be back later in the show. we are live where the retail industry power players are talking about the future of commerce and e-commerce. i caught up with the over cf to talk about everything from this to create a super app to ukraine and inflation. a head start by asking how drivers feel about the pressure at the pump. and as rising gas prices. here is what he had to say. >> i am hoping that with the early signal of there being some kind of a light at the end of the tunnel as it relates to the situation, a terrible situation in ukraine, we will have some relief or at least things will get worse. i think the good news for us is that earnings are at significant highs. earners are earning an average of $31 an hour. those are pretty robust earnings. the pain at the pump is heading ever

, but apple builds many of its devices in china.will see. they are in the investing phase, but it is interesting they have gone this far with the potential supplier from china. dani: apple in general, there is a lot to unpack, learning yesterday about a potential in-house financial payment system. tom: operation break out, they want to move away from partners they relied on within the financial services. it reminds me of the service wechat have. they want to do their own credit checks and build out their own financial to become less reliant on partners. they say it will be for future products and not current products. certainly a reminder that apple wants to be a bigger player in the financial services industry. dani: before we let you go, hackers getting into meta and apple, what are the details? tom: you think about sophisticated engineers in that organization, they are highly skilled. they faced this hack from teenagers in an apartment in the u.k. who have used these emergency requests pretending to be law enforcement, and given

still, it is unclear if apple will do this but there may be no better time than this march when applease a new high-end five joey -- 5g iphone se. emily: you can subscribe to mark's news later at bloomberg.com. we will be following that apple event next week. apple updating its return to office policy, the company setting april 11 as the deadline for corporate employees to return to end person work at least one day a week. it will be a bellwether as to whether the company can run office life and a postman to make our. meta is looking at halting all advertising in russia. take a listen aboutmeta's actions in advertising when it comes to russia. >> we are taking extensive steps to ensure the safety of our community and to support the people using our services both in ukraine and all over the world. we have established a special operations center, it is working around-the-clock, it is responding to activity on our platforms in real-time, and we are monitoring the situation. emily: we will be monitoring data. this is bloomberg. ♪ >> as putin continues his attack on ukraine, economic ramif

big tech, apple in the cross hairs.t happens over there and the magnitude of that could impact the multiples. macro recession, high-end demand and regulatory environment >> so quickly, how excited do you get when they announce the ipad air with 5g how big a product is that for apple? >> you know, i think iphone se is an interesting product. 35 million units which could be worth $15 billion or $15 billion. it's revenue numbers the ipad, the macks are -- i think in a different perspective. i think it's an interesting time to provide ipads and maces especially that has people realize the hardware is years old and outdated it. >> that is a great point i hadn't thought about that. the equipment has been sitting here idle. time for a refresh right? >> apple has all the new products >> how convenient. thank you so much for your time today. it's good to see you >> thank you >>> still ahead, ev makers are feeling the pain at the plug thanks to a shortage of some key components like nickel right now. nickel suspended for training

we don't know what apple is going to do.e can look to what they're doing in the netherlands for guidance basically, they figured out a way to still collect a large commission, 27% in the netherlands from these dating apps, and you can expect, based on what google is doing already in korea, it is going to look probably similar to that apple, of course, they point to all the security investments and the payments they've made to app developers over the years. all of that is true. in fact, they paid more to developers last year than they've ever paid. still, this is a real threat to their profits, especially as legislation around the world in major economies including the united states are looking at these issues >> yeah, steve, the u.s. lawmakers have been looking at the same issue there's this debate about whether to open up the app store. where does that stand at the moment, and what kind of precedent does this first market now give us? >> yeah, this is the kind of thing that worries apple and google i mean, they found a way

they offer the wallet, tap to pay, merchant acceptance, apple pay, of course, right, apple, apple appleple, and buy now pay later, and hardware subscription service for the iphone, a few other things, right, so they want to make the underlying infrastructure of those fintech services in-house. right now they rely on partners. they rely on goldman sachs and others. they are all u.s.-based. since apple has not been able to quickly expand services globally, the hope is that they can expand with this platform all apple services very quickly across the world to hit all the users. >> we are hearing a story about meta, about apple getting duped , handing over customer data. how did it happen? >> this is interesting. some hackers, if you, ok, law enforcement has the ability to reach out to apple, google, what have you to get data as part of criminal investigations on customers of those platforms of those companies and they all have portals, and so with this hacking group did is they reached out to those companies pretending to be law enforcement and ask for data on specific customers, and apple

in fact, just the opposite happened and now apple is not that far away from its all-time high apple is at 171 and the high is 182. >> yeah. it seems pretty incredible, scott, if you think about where we were a week ago and thinking about the tale on the growth sell-off that we were experiencing, and it sort of speaks to the things we've been talking about what is the true impact of the fed in terms of raising interest rates i come back to, if we are indeed moving towards a sustainably lower growth environment back to where in 2018 and 2019 if we are moving into the narrow range of route comes and what they offer and afford you are free cash flow the ability on innovate and the ability to grow earnings even against the backdrop where they don't have the tailwinds that they've been experiencing in the last two years joe made a comment, and i remember it, he said something about not being able to have a second release of pent-up demand post-pandemic. i actually think that we've seen several smaller releases of pent-up demand here and in china and we are going to see as it relates to apple

apple banking on itself., the tech giant is working to bring more financial services in house including payment processing, risk assessment for lending, fraud analysis, credit checks and additional customer service functions. check out shares of goldman sachs and green dot, two partners getting chomped that was on the prompter, not my word, in today's trade you get it they were lower on this news karen, i feel like it is not surprising that apple wants to do this. does this mean they become effectively a bank >> well, that's a good question. being a bank is a hard thing to become not that they couldn't, but i'm sort of confused because i could understand them wanting to, you know, have a white label product that they buy from somebody else, i don't quite understand them wanting to build out all the infrastructure to do this kind of thing. that doesn't make sense to me. i get they want to capture wallet share, they have been doing that with apple pay, we talked about whether you're going to be able to buy your

it is not that apple is out of touch with reality.t announced an enhanced 5g iphone se starting at $429, aimed at price sensitive new users. it added two new shades of green to its color choices. >> this past fall we added more users than in previous lunches. david: it launched a desktop computer, the mac studio. while all of that is good for fans of apple inclined to buy now, the real test will come in the fall when apple traditionally launches new advices -- new devices for the holiday season. >> people's confidence about where their jobs may go, where there discretionary income may go, is in question right now. i don't believe apple will be immune to that come september and october. david: apple is taking a small had already by pulling out of russia in solidarity with ukraine. because of its premium products, it also had a cushion -- has a cushion in its gross profit margin. a looming recession and higher interest rates are factors it cannot control. david lou, abc7 news. ama: it was spectacular outside today? is that an appropriat

hang tight. >>> and apple.uding payment processing, risk assessment or lending and credit checks. fintech companieses block, paypal dipping lower on this report with us, senior research analyst and covers a lot of fintech companies. dan, how big a threat is this to them >> thanks for having me on the show historically i've seen this over and over again every time there's a news about apple entering something in payment, take a dip and ends up being a buying opportunity fundamentals of these stocks don't change probably more of the samenow right? seen that with, go back here remember when apple went into the form factor, right they're going to do merchant acquiring. square was down and now up again big. you've seen the pattern before i expect this to be the same thing now. >> so sounds like you like your space, and cover all sorts of names from mastercard, paypal, robinhood, sofi. positioned to do well in the second half. what do earnings expectations look like relative to where valuations stand because this gro

we will see if apple will do that. if tim cook will make a statement about the ukraine situation, they have done this. they have had to record the beginning of events because of world matters. i would not be surprised to they did this for the shareholder meeting last friday. emily: we will be watching. you will be as well. thank you for giving us that round up your that does it for this edition of bloomberg technology appeared tomorrow, international women's day. a primitive venture capitalist and liz young of sophia talking about global markets. ♪ yousef: our top stories this morning. manus: cutting down supplies to europe in retaliation of russian sanctions. yousef: the s&p 500 has its worst state since october 2020. manus: there is a drop

i mean, weloves to talk about the apple tv shows.ven the investors meeting last week, he was bragging about the emmys and oscar nominations they've racked up. that's a fun trophy for tim cook to brag about. it's not the core of the thing we're paying attention to. while you're talking about tv, we can't forget about this other thing that's been rumored, this smart monitor or some kind of interesting new take on a desktop computer monitor that's been rumored for the last couple days i'm going to be really interested that could be the dark horse i'll be interested to see what that looks like and the case behind that. >> johanna, back to -- >> i'm waiting for the -- just waiting for the "ted lasso" season three release date. that'll be the biggest news of the day. >> indeed. indeed back to the silicon piece for a moment have you ever seen, johanna, a silicon transition that has gone this well, this smoothly as what apple is doing from intel to the m1, et cetera? >> no. honestly, some of it has been disappointing as a reviewer because i

apple sous, probably, yes, apple i warn you. don't try it again. firstly. just 17-18 years old there. well, i was little, i found out that a person's esophagus was already when it was shiny. i just didn’t even know how we are arranged, and i i graduated from ballet, and i have been doing it since childhood for many years of my life. and so, when i abruptly ended with ballet. i swam a little. here is for me. this was hard. i'm somewhere around 61 kg in weight, well, it was very hard for me and i began to read these all kinds of diets. and there was right there this healing vinegar. apple, how many spoons is it to add water, this is, for what? how does he burn some fat? i, i just read, what do you stomach, probably, and take such a dose? yes, i must start increase, slowly so much that you already know when through the lips turn white from what is there well, a lot of acid, how much did you drink it in time? well, somewhere, probably half a year, until my stomach started to hurt, and with the first such spasm, when i could not straighten up, and i realized tha

lower in names like las vegas sands, wynn, starbucks and nike those stocks trading at 52-week lows apple and qualcomm dropping sharply. the news taking a toll on the broad markets. the nasdaq down more than 2% so do investors need to brace more even more supply chain snafus and trouble, selling products in china. we were just discussing this i don't know what the market makes of it. it seems like they want to look past any sort of supply chain disruptions. it's surprising, we were talking about the ten-year bonds were higher today i would thought there would be a flight to quality and a slowdown, economic slowdown as a result of this, that this we're seeing right now, this isn't the extent of it we think it could be a lot worse, and so i'm surprised that the market reacted the way it did. so it was good for financials, that was nice. but, i don't know, i sort of felt like i was surprised when it was up earlier. i thought the moderna spike was very interesting maybe they'll be supplying vaccines i don't know it's still a treacherous market. the vix started to elevate peter will probably s

best advice, be patient. >> if you have new enough device, it works just fine. >> reporter: apple is able to move some manufacturing to other chinese facilities, nonetheless concerned investors pushed company stock price down more than 2 1/2 percent today. chinese officials will reconsider the move in another week. nbc bay area news. >>> we told you a story about spring break west point cadets who accidentally overdosed on cocaine laced fentanyl. no surprise to these activists who have been stalking the bar clubs and tattoo parlors with fentanyl test strips, potentially deadly opioid. have launched a website to buy the strips. the founders of fent check. >>> mayor london breed trying to move people forward in the pandemic, announcing plan bloom sf to bring workers back to downtown. weeklong series of events to welcome employees back, music, entertainment and food. >> because we are back. we are back and now it's time to really appreciate life like never before. >> the events start march 27th and will run until april 2nd. >>> troubled east bay prison gets high level attention followin

now the war means that moldova, nes, had been cut off from a critical trait up apples upon apples. the farm used to export about 90 percent of them to russia, mostly through the ukrainian port of odessa. only 60 kilometers away. that route is now closed due to rushes attack on ukraine. life has changed dramatically for moldova as a result of the war. and long and my will ship in this area, we produce mostly apples, grapes and grievances full, to teach it. and yet the conflict in ukraine has a big impact on our exports via odessa war by road to the russian federations for bottom line, especially apples and grapes. when my departed typical economy, my take him, us now this is impossible. alt open that and figure out channels my little i mean, and we're looking for alternative ways to export like such as through romania, c o m k, d explore in romania. but the nearest port in romania is not 60, but over 400 kilometers away. other trade relationships, for example, with germany are still in their infancy because moldova lives directly on the border with ukraine. more and more refugees ar

>> yeah, exactly an internal tool it is not apples to apples comparison to the $39 billion we talk aboutes at but affects the ability to recruit and retain talent say you every an employee here looking at the startups and choosing which one to go with it might be an earlier stage. instacart has been close every to an ipo and now seeing shared valued lower and there's ability to hire. whether it works and if the opposite idea could hurt employee morale within the question is a question. >> thank you >>> coming up, college basketball season is big for the fast growing sports gambling industry but it's been a rough month for some of the biggest gaming stocks. the commissioner joins us next with greater accessibility and control, you'll be able to accelerate innovation, bring the flexibility of the cloud to your environment, and reduce your infrastructure footprint to contain costs so you can be prepared for whatever is headed your way. [copy machine printing] ♪ ♪ who would've thought printing... could lead to growing trees. ♪ (vo) verizon business unlimited is going ultra! get more. like ma

apple is higher. we talk about what has been leading to the longest streak of daily gains for apple as it hovers around flatline over the course of the year. this is bloomberg. ♪ jon: i am jon erlichman along with matt miller. you were talking about the move in apple. stock of the hour. apple, you think about the desire to own this stock but the streak we have seen is pretty remarkable. have not seen this since 2003. abigail doolittle joining us with more on what has been driving apple shares. abigail: pretty interesting. apple surging higher, up 11 days in a row. best winning streak or longest since 2003. over these 11 days almost up 20%. that is incredible. this means we are back on $3 trillion market cap watch. lots of good things going on. i would say the biggest point is high quality. this is the world's largest company. they have a ton of cash, $400 billion in revenue expected this year. one down point is that revenue is slowing. 8.4% relative to 29% last year. something to point out relative to

interesting piece about goldman and financial service in apple apple is doing a lot of stuff that isbout what they do rather than today good tomorrow bad. >> right. >> and, also, i think we have to recognize that russia is here to stay, all though not doing as well as we thought we can't react every day to that i think that the spr, that always has been one day. it's been one day where it goes down and then the next day you have to start buying them. >> yeah. i guess just on the russia thing. we did speak with the distiller earlier today. i think if you're looking at it from the business perspective, getting hit with the higher costs on everything from glass to grain to the energy surcharges that are getting put in i mean, it starts to add up and you think, wow, what is coming down the pike? >> yeah. it's a tremendous supply chain problems just like america and you can't get a spare part for a tank. i don't know why we think the russians are invisible this is not 1944. >> good point. see you in a few minutes >>> "squawkbox" will be right back by the way, if you haven't signed up for