>> i think apple's business continues to churn along very well. i think there's very little to worry about right now macis slightly below, but it's all about the iphone, and that continues to hum along really well. >> tom: what about the fatigue concern, if the next iphone isn't until the fall, and the ipad was just released not long ago. is there going to be a new product that's a catalyst in the next three to six months? >> i think the stock is all about the iphone. what we saw last year and the year before, ahead of new iphone launch sales they tend to stip. i lot of us are betting on a launch of the iphone 5 or whatever they call t. maybe september is soft. we expect that. i wouldn't want to be out of the stock ahead of the iphone 5 for sure. >> tom: take a look at a one year parted of aapl. we've seen a lot of volatility off the all-time high hit a few weeks ago. rebounding nicely in after hours. would you buy it around 600? >> i've been continuing to buy. the numbers look to be going higher. stock still trades at a reasonable pe valuation. y

on the airplane, i am trying to learn the apple business. i have my files like a reporter. i realize i am treating my brother as if he was a source. i just wanted him to like me. i wanted to impress him. i had to do that little sister thing. the first rule was, put yourself into their world. the second part of this was understand how difficult it is and don't wait for a crisis, because the fact is, if you have this strange relationship with a sibling, you are already in kind of a crisis. you may not recognize it and maybe comfortable and okay with it, but it isn't perfect. the best predictor of happiness and long term happiness is to have good relationship s with your family and friends. the 3rd aspect is try to see your sibling as they are not as you would like them to be. going to the apple country was huge for me. again, i am embarrassed to say, 15 years i had never been once with. this is a lunatic thing my brother is doing with these apples. when i sailed down this huge area of fruit country, imagine after 9/11, apple country at harvest, thousands of acreage, beautiful

apple releases its quarterly earnings a week from today. analysts say the company needs to show it sold 35 million iphones and 14 million ipads to makeall stre happy. suzanne pratt, "nightly business report," new york. >> tom: apple's volatility over the week is a reminder of just how big the company has gotten, and how influential it can be for any stock index that includes apple shares. as the biggest publicly traded company, at over $500 billion, it represents the biggest share- - more than 4%-- of the s&p 500, since the index uses market value to determine importance. the bigger the market value, the more impact a stock can have on the overall index. think of it li this-- of the enre s&p00 rallyo far th year, 15% of that entire rally is thanks to just one stock, apple. >> there's enormous amounts of money. $27 billion was created in market value today. $190 billion they created year to date. its not just the size but the volatility. >> tom: despite apple's size, it isn't the most influential stock ever in the index. that was ibm back in the early '90s. >> susie: still ahead-- with pump prices around $4 a gallon nationwide, president obama calls for a crackdown on illegal specu

the best apple analyst in the business, gene munster saying it will peak.he google oracle fight had a second day in the courtroom where cameras aren't allowed. one lawyer dragging in a metal filing cabinet to use it to demonstrate computing concepts to jurors. as issue, whether they used java language in android phones without paying oracle. >>> yahoo! reports closing profits today. more important, the conference call with reporters when the new ceo answers questions about where the company is headed. yahoo! sued facebook over patent issues. look for that and a fight who can be on the board, whether it can sell asian interests and where that money should go. >> scott, thank you very much. >>> long list of events leading up to earth day, including nbc bay area. you see that peacock, that's why it is green. >> nbc bay area bob redell is at one green event this morning in san francisco that has a powerful purpose. bob, good morning. >> reporter: good morning to you, marla and jon. the question is could the future of our bio fuel energy production lie in these

apple's numbers. we're all waiting to see how business is going for apple and if, in fact, business is going to relate and actually go side by side with actually the valuation that we've been seeing in apple over the last couple of years. take a look at where the stock stands right now in the final hours as we approach this final stretch. apple down 1 2/3%. a couple traders said they were getting heavy. quarterly dividend is 13%. ibm shares heavily traded as well jon fortt is joining me. let's get right to apple. why is there so much fear. >> i any analysts low ball where apple is going. this time the estimates on iphones, ipads, have gotten aggressive in their estimates. they are looking for well over 30 million iphones, 28 million will be in line with what apple's growth rate has been. if you like at verizon and at&t results, 28 million would make sense. we'll see what apple does. if apple disappoints, that doesn't mean that growth is slowing down. it could mean that wall street's targets are off track. >> i love the graphic that you put up recently, bob, that was the revenue graph for iphone, ipad.

apple was the stock on wall street today, rising almost 9% to back over $600 per share. while u.s. customers may be waiting for a new iphone, the company is dialing up big business in asia. in the u.s., apple sells its iphones through national wireless carriers a.t.&t., verizon and sprint, but all three saw their iphone business drop in the most recent quarter. a.t.&t. activated 43% fewer iphones in the first quarter. verizon's iphone activations fell 26%. sprint just starting selling the iphone in october. this quarter, activations were down 17%. one reason for the drop off was the brisk sales of the new iphone 4s when it debuted in october. but apple's iphone sales fell only 5% last quarter thanks to a big jump in demand from china, demand that signals a huge opportunity. >> so, today, apple has a low single-digit percent of the market. they are very still much in the early stages in china, but if they could mirror their market share in the u.s. in china, then that would be an enormous opportunity for the company. >> tom: china is now responsible for a fifth of apple's iphone sales and the so-called "halo effect"-- when iphone customers also buy apple computer

business. it's going to come down to android phones built on samsung and apple. >> i want to remind people aboutens when analysts are uniformly positive. this was a time when one out of three publicly traded mutual funds owned this stock. >> look at how gold has dropped here on those fomc minutes. >> as hopes for qe-3 fade, wall street reacting big time. what makes the sleep number store different? the sleep number bed. the magic of this bed is that you're sleeping on something that conforms to your individual shape. wow! that feels really good. you can adjust it to whatever your needs are. so whatever you feel like, the sleep number bed's going to provide it for you. now, sleep number redefines memory foam, combining coolfit gel foam with sleep number adjustability! during our white sale, receive $400 in free bedding. only at the sleep number store, where queen mattresses start at just $699. tdd# 1-800-345-2550 you and your money deserve. tdd# 1-800-345-2550 at charles schwab, that means taking a close look at you tdd# 1-800-345-2550 as well as your portfolio. tdd# 1-800-345-2550 we ask the rig

it should be no surprise that apple was the strongest in the tech sector, jumping almost 9%, as we mentioned earlier. that certainly helped other tech firms doing business with it. corning makes glass for smart- phones, and an analyst at r.b.c. capital markets thinks corning's tv screen bunessould g a boost if apple ever launches a tv product. shares of corning were up 7%. broadcom supplies apple with wireless semiconductors. shares popped more than 6% on the back of apple's success. airplane maker boeing helped the dow industrial index take flight today. stronger sales of planes fueled by a strong first quarter. earnings were much better than anticipated, and so were revenues. boeing was successful by increasing its production of airlines to help meet higher global demand. sothe stock pped $77 per share, their highest since may. volume more than tripled. boeing is confident enough in its prospects that it increased its financial forcast for the full year. boeing has been able to increase its production of its new dreamliner 787. meantime, caterpillar was digging a bit of a hole with its stock price today, falling more than 4.5%. volume more than double

nearly put the apple business in washington state out of business entirely. to discover a year later that, in fact, it wasn't a potential carcinogen. so, again, the people who say -- >> government and people are aware of that. >> and that feeds the chatter in the background that starts to lead to building up this skepticism. >> it also seems to me we're eliding a huge factor in this, which is the most profitable corporations in the history of human civilization on the planet of have an incredible stake continuing to put carbon in the air. the entire, traction industry of fossil fuels. bp made $26 billion,ç and extr carbon in the sayre not priced, and zero sum. you mentioned that. i want to play this. so reveals. senator james inhofe on rachel's program talking how he came to be a denier of the scientific consensus on global warming. listen to how he articulates his own rationale for coming to that on your side of this issue when i was chairing that committee when i first heard about this. i thought it must be true until i found out what it cost. >> it must b

you have to get the apple business. how you got to get apple. >> i love the sports metaphor especially off of jamie moyer last night. what a game. >> apple does desktop stuff but they need p.c. jamie moore, may i when i get to the age of 49 throw a game like you do. >> you have yearsing to before you're that old. >> the winner, i think the pitcher that he beat wasn't born when he started playing. crazy. >> 49 years, 150 days, the oldest ever pitcher to win a major league game. facebook ceo mark zuckerberg reportedly negotiated most on his own for the $1 billion acquisition of instagram and brought in the board when the deal was practically done. we're asking you to consult your krystal ball. what is the next thing he won't tell the board? >> i think it is justin timberlake joining the board. he obviously gets his insight from the social network. >> hahn tweets selling facebook to apple and my real name isn't sgruker berg, it is gates junior and this may not entirely have been my idea and michael tweets i just bought yaho

p let's get to the core of apple's business, if you like that little play on words.t's talk about what you're expecting to hear after the bell today. >> i think it should be a pretty good report. we're looking for iphone sales of 33 million which is above the street. and just launched the new ipad. and this could really propel a little bet of up side to the quarter, as well. i don't think that you see as much up side as last quarter which was frankly staggers. there was an extra week also last quarter and no extra week this quarter, but nonetheless, i expect a solid report. >> so the last couple weeks stock not good. that's been obvious. any chance that this whole situation disappoints you, that people have not run out to buy the ipad 3 or as many iphones as people expected or is the retreat in the stock a function of people saying let's hold our fire and watch tim cook deliver the results and it will rocket back up tomorrow? >> there's a lot of reasons for the sell off in apple. the questions is around qualcomm. also subsidies of verizon, saying they're looking on c

turning now to business news and apple trust sales expectations today sending shares soaring in after hours training. apple said it sold 35 million iphone during the quarter that ended in march. that is twice as many as the company sold during the same period last year and sales of ipads they also soared and were more than double last year. shares of apple were down 2% at the close of trading today but rallied almost 7% after hours nearing the $600 mark. the broader mark is finished today, solid earnings from at&t boost the dow industrial 70 points higher the nasdaq eased back slightly losing eight. ahead in five minutes we are learning about an arrest linked this massive gulf coast oil spill. why bp worker is facing charges 2 years later. gagged unvailed a new service enabling people to store their photos, videos, music and other documents on line. the mountain view internet giant says the first five gig bites of torch is free after 25 gig bites of additional storage is available for $2.50 accidents a month. called beyond cloud. >> big change in the school district new effort to noti

apple sales. all this business pleasing investors, as well. apple's share price, which has been slumping lately, shot back up and after hours trading, retouching $600 a share tonight. tomorrow looks to be a good morning for apple investors. google has its newest release called google drive and let's you store documents, videos and photos in the cloud. also known as gigantic google servers. google says it will offer 5 gig bites of storage for free. 50 bucks will get you a terabyte. and here is a twist. because the economy is getting better, nearly 100,000 california residents may soon lose their unemployment insurance. because of the improving economy, our state no longer qualifies for a specific unemployment extension program. people will be notified and they will be found other help. >> thank you, scott. >>> is mad cow back? tonight state and federal health workers are tracing a dairy cow which tested positive for the disease. they want to know which farm it came from. the disease uncovered during random testing. the cow was being sent to a re

business beat. we have to talk about the apple effect. lauren with fox business network is live in new york. orning, good morning. how are you? >> i'm good. thank you. >> yesterday you were talking about this, apple's earnings support. no big surprise, apple gained. did that help the nasdaq. >> big time. apple shares up 9%. they are weighted to heavily in the nasdaq that it was up 2%. stocks overall rallied. 68 point gain for the nasdaq. haven't seen that in some time. we did get a bad report on durable good orders like refrigerator and television. those declined sharply. we focus on the good earnings particularly from apple and it rallied. >> today's main report from the labor department, right? >> yes. jobless claims. two hours from now we are expecting a decline. the lower the better with this report. 375,000 is the number we are looking for. >> we thought there was value in a good day of hard work. that's how i was brought up. probably you as well. that is changing for farm kids. what is up here? >> the obama administration is looking to pass new child labor laws that would affect childre

apple. jane king has the bloomberg business report. good morning to you. >> they did it again. apple blowing away wall street estimates. profit nearly doubling last quarter on chinese demand for the iphone. selling 11.8 million ipads. apple is lowering its revenue forecast. some analysts have predicted a new work by phone will come out later this year. google was start selling a and set made by samsung -- google will start selling a hand sset made by samsung. google is stepping up its focus on smart phones. the federal reserve with a meeting today. people waiting on what ben bernanke will say at a news conference. futures are pouring into a bit of a higher start. a mixed close yesterday. the nasdaq fallen for five straight futures. cattle futures plunged yesterday on news of the mad cow case. coach seeing sales drop off a bit. they will boost the number of men's items by the end of the year. bargain hunters, bad news. putting an end to their factory outlet coupons. at the new york stock exchange, i'm jane king, bloomberg news, for wbal-tv 11 news. back to you. >> a popular tv sh

apple has conducted all of its business with the highest ethical standarding complying with applicableit does business, how much money it makes, what it does with its money and how it pays taxes. i was recently on a call with tim cook, and company executives were complaining about tax policies overall and like to see a leveler playing field with the rest of the world. >> the governments stump all the time the companies should have every straight try to work the tax system best way possible. >> "the new york times" story is always a good read. i'll tweet you that. >>> we decided it would be a great feature to have a word of christine romans every day. i'm not kidding, the one thing you need to know. >> you're going to hear a lot about jobs, the jobs report on friday, and what matters to you is your jobless rate, either 100% or zero percent. don't believe the politicking, who is going to build or create jobs. you'll hear so much that this week and until the election. my advice is focus on the job market of one and don't listen to the political game on this. >> eyes down, eye on the prize

by facebook for a while now same thing goes with capital and they have two very different business models apple and facebook and like you said control the apps that run on their systems very tightly so if you want to make your own after you have to get approved through the system and you know there's obviously censorship involved in that area if they don't like your app for whatever reason they can say no has kind of operated under more open scenario and then sergei brin even said that if facebook was as dominant as it is today one who will start as they may not have been able to create from before because facebook already has kind of its tentacles in in the internet so deep that it's hard to penetrate more.

. >>> now to business news where apple is reporting a massive profit. $11.6 billion for the second quarter. that's up 94% year to year from this time last year. apple sold over 35 million iphones and close to 12 million ipads thanks in large part to soaring sales in china. we turn to jeff cut more who's live in london. good morning. >> good morning to you. apple crushed the calls from the street as to what they would deliver on this quarter. these numbers were significantly better than the expectation here. as you pointed out where a lot of that growth came from, the greater china region, pent up demand for the iphone 4s. it still seems apple can sell these at a premium price. that's also allowed them to keep up margins. what you saw in the share price was a 7% reaction to that after the market closed. i think that has dealt a blow to some of those skeptics who said at $644 a share apple is done, is rolling over, because we've had a retreat from that share price. so some momentum back into the apple story at this point. they've low balled the third quarter estimates which have some scratch

particular in china nokia's being hurt by some of the same market dynamics that are helping apple specifically the phone business in china is moving from a reseller driven model to a carrier driven model with subsidies. that means like in the u.s. customer ks get more expensive phones when they sign up for a data plan so they don't have to settle for a cheap nokia. they can get android or some can get an iphone. a $1.2 billion lost warned last week. nokia's head of sales is out. the new phones are doing okay in the u.s., but this low end problem is in some ways worse than nokia's lack of a hit high end phone because it threatens to devastate nokia's core and business model. >> the struggles continue. meanwhile, apple, google, intel and four other big tech companies apparently facing an anti-trust lawsuit claiming they conspired not to poach each other's employees. what's happening here, jon? >> yeah. adobe, pixar, lucas film in there too. what they're accused of doing is collaborating together and agreeing not to poach each other's employees. this is an anti-trust issue federally. but particularly in california

beejal patel with bloomberg news live from the cme group in chicago with a look at today's business headlines ... applece department over price-fixing on evokes ... it will be argued that pricing agreements enhanced the commerce for e-books and several large publishers settled to avoid a court battle with the justice department thousands of job hunters are losing out on jobs because employers are using information from shady businesses for background checks ... we may have to wait one month locker before the gasoline prices will top out in may it will be for dollars and 1¢ per gallon ... gas is currently trading at $4.30 per gallon get ready for price hikes in diamond jewelry because of demand issues ... people in china and india with money to spend ourare purchasing more diamonds european officials are trying to help spain with their debt troubles but that is affecting the markets today north korea makes another move toward launching a long-range rocket the country said it's now putting fuel and that rocket it is expected to fire the rocket sometime between tomorrow and monday the north says that the

however, apple's gains may be hurting some of its biggest business partners. &t stock down 25% since it became the first u.s. phone company to iphone in 2007. the company says it is losing money on the phone sales at the same time apple stock is up 415%. apple's dominance appears to be hurting rival phone makers apple makes 80% of the industry's operating profits. >>> president obama is in north carolina this morning pushing his plan to keep the cost of college loans from soaring for millions of students. >> the president: at this make or break moment for the middle class we have to make sure you are not saddled with debt before you get started in life. [ place ] -- [ applause ] >> the president: because, i believe college isn't just one of the best investments you can make in your future, it is one of the best investments america can make in our future. >>> the president is championing legislation to keep interest rates on several popular loans from doubling from 3.4% to 6.8%. experts say that would tack on $1,000 a year over the life of those loans. the downs

and apple has launched international business which is far more important than analysts figured. been better served talking to the chinese carriers than the american ones. the analysts were looking between 28 and 33 million iphone sales and a few outliers looking for 34 million. when they had an 88% increase year over year, terrific number, and analysts were swayed by contacts at verizon and at&t, saying the subsidies they need to pay to support apple sales aren't going to continue and will start emphasizing other phones. oh, really? let me give you a little hint, guys. here is the big problem. carriers can advertise whatever kind of dog food they want eaten, but it doesn't matter if the dogs won't bite. customers want the iphone more than any other phone. verizon balks, sprint will take verizon customers, clear as day, that's what will happen. second big mistake, ipad numbers. 11.8 million ipad numbers. up 150%. 150% year over year. worries abound ahead of the report that two-third of the quarter was hurt by a slowdown of ipad. this was by spurred by a surfeit of sandisk flash d

apple at secret meetings to develop what one publishing company c.e.o. called "project z." >> during regular, near quarterly meetings, we allege that publishing company executives discussed confidential business and competitive matters, including amazon's e-book retailing practices, as part of a conspiracy to raise, fix and stabilize retail prices. >> reporter: apple emerges in the lawsuit as a kind of cartel leader. the government's lawsuit says the company pushed to seize pricing power from bookstores, and it quotes former c.e.o. steve jobs telling publishers it was time for a new model. "you set the price," jobs told publishers, "and we get our 30%. and, yes, the customer pays a little more, but that's what you want anyway." apple declined our request for comment. simon and schuster, hachette and harpercollins settled with the justice department, but macmillan is fighting back. c.e.o. john sargent said changing the pricing model for e-books was the loneliest decision he ever made, adding he made it during a 4:00 a.m. workout in his basement. he called the settlement offer the justice department made "onerous." "after careful consideration, we came to the conclusion that the terms could hav