kong's residents in retaliation for britain's offer to put them in some probation heavyweights apple care we're focusing the permanence presidencies are those granted u.k. certain shit which means they could lose the right to vote and stand for election in hong kong. kerry has recently been travelling around hong kong to capture is iconic scenery these pictures. it was just the memories after place there were no longer. especially since many friends will soon drift apart i treasure the remaining chances to be together and i hope i can still contribute to my hometown by other means in the future home. to india now where thousands of crocodiles are the country's biggest crock sanctuary of facing starvation the coronavirus pandemic has forced the park to close to visitors depriving it of one of its most important sources of income the park near the southern city of gen has had to come up with new ways of raising funds to keep the giant reptiles fed and its conservation program alive. it's lunchtime at the crocodile park and there's a lot of hungry mouths to feed. but 2000 trucks at this cons

it's apple care, and so it's a really diverse set of businesses it's recently install base driven, and when something is install base driven, it doesn't have as much as a transactional element. you're not going to see the big highs, and the big lows like you do on iphone sales, and that's part of the reason why you didn't see a beat this quarter on the transactional businesses, demand was better than the street had forecast. the service business is more install based driven it's a diversified portfolio, it came in line with expectations we believe this business can continue to grow at double digits for the next several years. >> tony, it's david. you know, a broad question here, if i might we were speaking in the last hour to david katz, a long time value investor, and questioning multiples. i believe you downgraded tesla based on valuation what kind of conversations are you having with clients in terms of how you look at things and whether there's anything to be gained by downgrading on valuation, when it seems it doesn't matter given how much momentum is behind these names. >> sure.

apple today. what happens in nine years careful what you wish for in a company like that. >> what? are you making a prediction here, a possibility that apple, now the biggest company in the wor world, could suffer a huge decline in the next decade that's your call >> of course sure why not? i mean, listen, if i'm right, fantastic. i'll still be on tv in a decade. if i'm wrong, i won't be here anyways. who cares? >> guy will remember this guy has a memory like an elephant. >> like an elephant. >> my only point is that sectors do flip-flop so if you're looking at something like an apple, just be careful. make sure you take some profits. >> we've got some breaking news. we'll continue this oil conversation in a moment ipo market got some news josh lipton has the details. josh >> reporter: palantir filed the s-1. just started coming the documents. first half of 2020 up 49% from the first half of 2019 the net loss here clocks in at 164.7 million. that is a decrease in a comparable period a year ago, it was 280.5 million. in 2019 they say their net loss was closer to 580 million. we'll ke

apple care which will continue to be a head win for several quarters and the strength in the app store lasts. this came out of earnings. the strength in the quarter was really driven more so by the cyclical elements, not the secular elements of growth this was a point of concern. as you look at the 10q that apple released a day later, apple is price sensitive to buying back stock. in april there was a lot of uncertainty. apple did not buy back any shares in the month of may they bought back about 40 million shares in june, 10 million. i think there is an element of price sensitivity clearly. we are price sensitive we look for opportunities where the market price has dislocations in the at 170 we thought this was a bargain at 440 we don't feel the same. there is a big difference. the stocks went up $60 over a matter of a few days and that changes the way you look at things and the way you assess risk i think that would be the biggest change here. >> wamsi, it seems like your concerns come in layers. there's the gross margin, the content cost am mortization worry. but then you add anothe

if we chat is removed from the apple app store no chinese citizen will be buy another apple i phone because we care is integral to everyday life virtually everybody in china and ironically as apple's sales decline the biggest winner and biggest benefactor would actually be huawei the chinese saying they want to be fair if so goody goody let's be fair they can open up their market to c.n.n. b.b.c. washington post new york times wall street journal and i could go on they're not they don't allow us to use skype and they don't allow google search so let's go back and say you want to be fair this is how we can be fair and christy made a very good point about the fact that the irony of it is actually while weigh them will become stronger in china. but the thing is it's the chinese also that are scared the chinese are so scared that's why they banned even facebook on top of all the things i mentioned so what's important here so look at fairness the chinese have never been fair that's not my personal opinion that's just the simple fact they can open up their markets and open up ours i think sean was one of

apple. they have a larger revenue share. and the second one which i think is more important to someone like tim cook that cares about the perception of apple is when the consumers revolt this has been a battle with the chief technology officers, and now 14-year-olds are going to say what the hell, fortnite is no longer available in the app store and that pain will not be insignificant. >> what epic games has done here is, i think, unique. they put the consumer in the middle i said that it doesn't matter because to the consumer the app store works great. i might also argue that there is a huge amount of users that will be upset about fortnite. what about we chat in china, right? that is a whole country that could soon not have access to that app that is arguably a lot more popular. do you think that will have an effect too will apple make concessions for ten cent because they had to >> we chat is more regulations because there is regulations in the government that is a way that would have more more difficult to model the apple position in china is much more tenuous than apple's position in the u.s. when it comes to market share. mo

apple app store. i understa this is also a company that's under a little bit of judicial threat, if you will. there's a headline risk here why doesn't anybody seem to care >> because they love their apple phone. they think it's the greatest thing ever and they're taking a page out of peter lynch's book, why what you know and buy what you own and what you use and again, i go back to the split which everybody's talked about. it's completely absurd but until proven otherwise, there's a couple things i do know we know we have that headline risk we know we have the potential issue with chinese demand. we don't know how that's going to play out as we come into the election the last thing i know is that trees don't grow to the sky. eventually this will come back down to earth. it's not a time to short it but if you're long and you're a trader, there's nothing wrong with keeping off a third and as it goes higher keep taking off a little bit here and there. the trajectory is straight up. i've never seen a stock chart that continues to go straight up eventually they come back down so be careful on monday morning if you're thinking i'm going to buy into this thing

it's a little more health care weighted i think the apple split is meani meaningful a lot of people have said it's meaningless. that's technically correct remember something, back in the 1990s when stock split were the rage, it was viewed aed a vote of confidence back then. it was like call from a broker we see an all lot of option activity around the apple. announcement if apple continues its momentum, it will be harder to have that impact on the dow. it will be harder to happen now that apple is only one-fourth the size back to you. >> look another tesla and apple. we see tesla up 54% the day they announced the split. the s&p is up less than 4% apple is up 30%. everybody is talking about the split. >> there's no pres dent to how high value weighs can go with low rates and unlimited quantitative easing from the fed. our next guest called the market bottom how much more room does this market have to run. should you biep it because they good stocks with great momentum. >> stock splits don't change the fundamentals. >> i don't think it's great sign that stock splits are causing stocks to r

apple is having an impact today. s&p 500 is up .75% we're seeing strength beyond just technology today in places like health care, industrialsd financials real estate anticipate utilities at the bottom of the list. after the break, it isn't just microsoft andtiktok. deal activity is ramping up on wall street today with google and apple getting in the action. we'll have all the details next on "closing bell." as business moves forward, we're all changing the way things get done. like how we redefine collaboration... how we come up with new ways to serve our customers... and deliver our products. but no matter how things change, one thing never will... you can rely on the people and the network of at&t... to help keep your business connected. a master'sdgren, youin chemical engineering., and you're technically a genius... and it appears you're quite the investor. i like to trade. well, td ameritrade has pros ready if you need help, say talking through a new strategy... ... just in case things, you know, get a little rocky? i'm sorry on the upside i think that's waterproof. maybe not... ♪ >>> just pulled back a fraction. up .75

. >> again, the apple fire is now 41.5 care miles and just 5% contained. reporting live ktvu fox 2ews. >>> well, we're getting new information on a fire that is burning right now in northern california. it's called the sites fire. it started late yesterday afternoon. that's about 60 p miles north of clear lake. new numbers from cal fire show that it's smaller than first estimated. it's burned 540 acres and now 40% contained. fire is threatening at least a dozen homes and has forced the evacuation of several neighborhoods. >>> new this morning the world health organization is shug a warning that there may never be a clear solution for the coronavirus. >> they're now in phase three of the clinical trials. we hope to have a number of vaccines that help to prove people from infection. however, there's no silver bullet at the moment, and there might never be. testing, isolating and treating patients. they stress the importance of tracing and quarantining people that may have been expose today a person with covid-19. >>> the white house and democratic leader are

have to take extra care until the rice is a month. golden apple snails were imported as a food source from japan and taiwan. however they brit with native snails resulting in apples snails which quickly spread and became the worst enemy for younger ice plants this is one of the main reasons for the increase in agriculture call use. chemical usage in farming started in thailand around 50 years ago it was the result of the post world war 2 the revolution. couldn't have been thought about there were several changes a lot of them was the introduction of new types of rice the need of varieties are abandoned in favor of the new ones that have a higher yield and shorter stocks or they require the use of chemical fertilizers and insecticides. that there has been a drastic increase in agro chemical imports in 2015 time and imported around 80000 tonnes but recently this amount is increased by well over 100 percent to almost 200000 tons. of orders carry out regular studies an occupational diseases and they show that a 3rd of thai farmers have abnormally high

apple and microsoft. or networking equipment care best buy's rocket. but there's parts of our economy it's not coming along at and we're still waiting for more vaccine use be positive and we're waiting for more positives on testing and we're getting there and we're getting there the perfect time because we have now that we've moved past back to score moving into thanksgiving and christmas and fingers crossed the economy comes along for the ride of than just big tech companies all right we'll have to wait and see i know that also in the in the winner column you have. >>for us today we've got to stock splits right got apple and tesla i think one is a 4 for one the others a 5, 4, 1, walk us through what is this what does this mean that do do my shares move at all with this. >>you may be a little confused when you open your account today because apple it's split 4, 4, 1, and tesla did split 5 for one. i'm just looking off the side of screen right now i see tesla's up 40 bucks so it was friday, it would be a $200 now. apple would be $6070. but it's plain so

gin and peloton-ic >> tim cook said one of the largest contributions he hopes apple will make to the world is in health care seeing it play out some some of the devices. will they move into the hardware component and come up with a fitness device that's the burning question, to your point if you're not too tired, how about home broth improvement work the stocks have been ham eric away thanks in part to a remodeling boom and pandemic in my town the signs for redos are all over the place huge gains in the past three months, all up more than 20% can rising home sales, diana, keep this trend going? >> absolutely. it's people staying put and what they need to fix and backyard things, outdoor spaces we saw some names from houzz last week, with a 50% demand and it was pools, you know, back decks, screened-in porching, and kitchening, of course, because we spend so much time. there are red flags. reifies are getting more difficult to get interest rates are rising that could be a damper in as we get into the fall and wind. >> i have a person that's about to join our extended family that works in the pool business he

there's going to be more innovation and more new products coming out apple going into things like health caretional products they're having coming out in addition to the 5g upgrade cycle could potentially be meaningful. you can no longer put the apple in the cheap bucket. it's expanded because we think they're going to be coming out of this recession and pandemic even stronger, hiring more talent and coming out with more products while other companies have been back tracing during this tech is coming out of this coronavirus stronger than when it went in >> a big piece of this morgan stanley street target is not substantial to the app store how do you explain that to consumers or investors who thought apple met its match in terms of influence going up against epic >> that's a good question. i think it would be tough to say there's no risk. you look at services, it's now more than 20% of revenue it's been growing double digits. it's now a $50 billion the app store plays a critical role i think investors are playing the long game here, and while there is some risk there, this is something apple

but they should care about the incredible runs of apple and tesla after the splits were announced. splitting should be a no brainer after this if a stock splits are meaningless and cost you nothing, if it makes no difference one way or the other to you, why not just give the prospective investors what they want >>> are the confines of covid offering you more time at home i'll help you bank off that friend and how is coronavirus impacting communications with customers? and all your calls in tonight's edition of the lightning round so stay with cramer. >>> right now we have an incredible bull market in all things housing and housing related as people stuck indoors rush to buy homes in the suburbs and fix them up. so when azek came public, the market lapped it up. they build products easier to maintain than things like wood azek does decking, railings, porches, lighting, exteriors my contractor, michael haley, putted it over the front of my house without knowing i was familiar with the stock. it looks dynamite, but it won't rot like my previous stock the stock is now at $35. the numbe

apple. we talk about the underweight, , and they was growth would say, we don't care. we would say, you should. growth stock. let's move on. now a lot of people are saying, how did apple get to where it is .t this point in time that is why we think it continues to grind higher. tom: what is the behavior of fund managers as they continue to quarter and? -- to quarter end? are they forced to buy these highflying techs? christopher: i'm not sure if they are forced, but you do hear a lot of the risk managers knocking on the door and saying, you told me two months ago, three months ago you were going to take this up. he told me apple was going to pull back. it hasn't. we need to do something now. you have cash on the balance sheets or cash laying around in the portfolio. you have to start at what ties and that because what is happening is relative performance is beginning to decay. it's been a pretty good year for a lot of the managers, so they want to keep that from happening. lisa: there's been ownership more broadly of u.s. stocks. can we make that conflation? can we say

care. shingrix protects. ♪ ♪ jack: let's end with some actionabling investment ideas. ben, my notes say something about taking profits in appleeen an incredible stock. this thing just keeps going up. but recently those gains are accelerated to the point where the stock is now more than 20% above its 50-day moving average, that's a technical point that traders watch, and that hasn't been a great place for the stock. there's nothing wrong with the company, it still makes great phones, still makes products that people want, but the stock is overheated, so this is a good time. if you've been long for a long time the, it's a good time to -- jack: what about all this stuff i keep hearing about the super cycle, the phone, 5g, two at a time, what about the super cycle? >> have you ever heard the maxim buy the rumor sell the news? i think a lot of that's going on. we're starting to price that stuff in. jack: okay, so now we've got to buy something. we need a good buy. maybe even, carlton, a best buy. what do you like about the company? >> very good there. so, you know, by buying into best buy, you may also get some indirect exposure t

it might be a good lesson there whether it's apple whatever asset class it might be perhaps josh brings up a good point. you got to know what you own be careful that one position doesn't become the monster that's probably a different segment. you still own apple. >> i think what josh is doing makes 100% since i sold out of facebook completely and i have been trimming amazon because they really did become very big positions, overweight in my portfolio. the reason i'm going to stick with apple is i really do think you have these catalysts of the four for one split the 5 g. i think you have to step back and ask is this a hardware company or a consumer pruks company. it's trading at a 10% discount to the consumer products company in general you can justify a lot of different ways you do some of the parts this company can deliver 12% earnings growth in the last year. that's versus amazon where you have 94% of the sell side. i'm in the saying this is not crowded. it is. i can still justify owning it. i have a slight overweight position relative to my benchmark. nvidia, this one scares me because i can't justify the valuati valuation. i think it's s

apple. i'm looking at this one because it's kind of stay at home 2.0. the stock has had a runup as people were stocking up to outfit home offices and take care of schoolingools moving online, people working from home looker, so that -- longer, so that stuff that you bought in april to make do, you might want to upgrade it. the headphoneses, the laptopses, the cameras, our home a appliances are getting more wear and tear, so i'm really interested in looking at best buy now. jack: for stay at home makeover, buy some shares of best buy. al, what do you like? >> i like fedex. we picked it last year. i still like it. what happened friday was steven's analyst jack atkins called it his best idea. he listed a host of reasons, gave ten reasons, but basically it comes down to this is the best setup he's seep for the stock since 2017. and he sees it going to 215. jack: sounds good. thanks, al, carlton, ben, for those great ideas. to read america check out this week' edition at barron's.com, and don't forget to follow us on twitter. that's all for us. see you next week on "barron's s roundtable." ♪ have a great weekend, everybody. thank you, lauren. "lou dobbs tonig

on cnbc worldwide exchange you be well. >> take care same to you. >> nothing is bothering these markets this morning folks dow futures up 215 points. appleremarket. i'll see you on closing bell later this afternoon that's it for worldwide ua pki uthco sqwkicngp e verage next have a great one >>> good morning, stock futures pointing to nice gains from where we closed last week as wall street looks to build on what was a record setting week we'll have a full run down of the biggest movers straight ahead. the fda approved convalescent pla plasma we'll get reaction at the top. and the gulf coast is bracing for a 1-2 punch as marco and laura make aim at louisiana. monday, august 24th, 2020 and squawk box begins right now. >>> good morning, welcome to squawk box on cnbc i'm andrew ross sorkin along with joe kernan. nice to see you. >> good to see you. >> just the two of us. >> a lot happened last week. i am an adopted son of new jersey. >> a lot happened. >> a lot happened. i heard about it i didn't watch much. i watched so much that i had very little time to do anything else did you like the shore okay? do y

apple. tubman knew strawberry the wiser better choice for me. and so i think the health care industry is going to find a way to say this is an example of how we age in dignity and grace and keep ourself healthy. this is a woman well into her 80s who was still traveling independently back and forth. when colonel shah passed away she made the trip from auburn to boston, and that terrain is still not easy today to traverse. but tubman did it. and it's because she understood that america was greater, that the promise of america was greater than what it had exhibited in her lifetime. so her emancipation journey said i need to plug into those pieces where i can make a difference. now, getting back to suffrage, you know, i believe that tubman really supported women who believed in temperance, that was consistent with everything else about her. but she was not aligned with that community, okay? tubman knew clearly that black women were being marginalized but she was determined that she was not going to allow them to marginalize the voice of this black woman, of herself and she knew s

care. >> seth: be well, buddy. watch "ted lasso" on applegton week" on pbs, robert costa ♪ and here we have another burst pipe in denmark. if you look close... jamie, are there any interesting photos from your trip? ouch, okay. huh, boring, boring, you don't need to see that. oh, here we go. can you believe my client steig had never heard of a home and auto bundle or that renters could bundle? wait, you're a lawyer? only licensed in stockholm. what is happening? jamie: anyway, game show, kumite, cinderella story. you know karate? no, alan, i practice muay thai, completely different skillset. new microban 24 watch as microban 24 kills 99.9% of bacteria... and then, even after multiple touches, keeps killing bacteria for 24 hours. i trust microban 24 to keep killing bacteria for 24-hours. still driving the old [royal model huh?nt trumpets] i've been looking but i just need someone to tell me what a good price is. just use autotrader, it's the only one with kelley blue book. tells you if the price is good. verizon knows how to build unlimited r

care where the share price is. i want some exposure. keith, apple, first 2 trillion-dollar company.e know it is exciting, fun to talk about. by the way bigger than the gdp of almost half the countries in the world. i think viewers want to know what is the next two trillion dollar stock? >> i tell you what, i think it is going to be split evenly between amazon and microsoft. that is where i have got my money, where i'm placing my bets. i don't think it will take to much to push over the limits. people need to get over the shock of what happened and figure out where the rest of the market will catch up. charles: shana, i want to ask you about the federal reserve yesterday, right around 2:00 when the minutes came in, the markets started to sell a little bit. it wasn't anything dramatic. what do you think wall street is looking from? what is wall street want from the fed it hasn't gotten so far? >> i think you saw the slight pull brac because the comments from the fed were less dovish than they have been in recent months. i think wall street needs to know, and we'll be fine as long as t

apple, an orange, a toothbrush, toothpaste and the backpack to take care of his body because he figuredwould get arrested. and two books, one by richard hofstadter about american political traditions to feed his mind, and one, the autobiography of thomas merrill merton, theson roman catholic trappist monk, the son of itinerant artists, making an astonishing personal .ransformation what does a young guy who was about to get his brains beat out and planning on going to prison taken that? i think he figured that if tom is merton could find a way to keep his faith and believe in the future, he could too. [applause] so we honor our friend. for his faith and for living his faith. the scripture says the substance of things hoped for, the evidence of things unseen. rebukewis was a walking well, we who thought, isn't it timet, to bag it? he kept moving. imagined andand lived and worked and moved for his beloved community. he took a savage beating on more than one day. on he lost that backpack bloody sunday. nobody really knows what happened to it. bebe someday someone will stricken with conscien

three, i don't know how i should feel, whether i should care more about the chinese government knowing i went to walmart, or microsoft, or applet sure i happy with either one of those. but i think we got a separate these three strands. alix: such a good description. i do want to tease out something you were mentioning. douess the question is, how you have a fair platform or a fair rule between china and anybody else when they don't seem to want to play by those rules? i just wonder if it is impossible to avoid some kind of internet decoupling. we've seen that when it comes to trade or economics, this feels like the next leg. >> i think there was going to be an internet decoupling. i think china is going down that path and there are other countries that are going partly down that path. i think we may be going down that path. i don't think we should cry too hard, just wake up and face the facts. there is not going to be the free flow of information we are used to and it is going to be manipulated. look at our elections, we see how our data is manipulated. i think that is the reality at of us. the chinese government is no friend

apple. he dumped at the bottom, wells fargo, whoa. the new generation of investors doesn't care about warren buffet they only know him from day. they're more likely to follow this guy from the outfit called bar stool. a.k.a. davey day trader. he's tfascinating and got into stocks making it impossible to bet on sports. i know he's not professing to know much beyond stocks go higher you may have a complaint with portnoy. if he starts to trade stocks in march and april, stocks do just go up, right i mean, that is his philosophy, which is why this guy is running circles around much more sophisticated professionals and they hate him. i bring it up because he embodies this retail investing revolution albeit inboyant way we're trying to make money you get the picture. individuals are storming the barricades breaking through the conventional wisdom to say it impossible to consistently beat the market like fang, i got him yet people are picking stocks and their own stocks from what i love i love it. if we can help educate you once you're in and we've nudgedthe process in a positive way,

think basically donald trump is obviously looking at apple ground states and these groups of people both women and minorities who don't particularly care not polling well for him and i think he made a lot of progress with these testimonies but the other thing that he tried to do and we will see how effective it is is worn these people, both women and for example in the suburbs but also minorities, how bad things might get for them under a joe biden presidency. the effectiveness on both counts i think could help him. what he needs is turnout of people who will vote for him, not just a shift in sentiment but real serious turnout. i think what he's counting on is that he can energize people who are worried about a biden presidency while people who are biden supporters may be become less. paul: kyle a big problem out of the 2018 election was the abandonment of a lot of voters of republicans in the suburbs particularly women and college educated voters and that was a conscious effort here to try to appeal to them and both on the public safety point but on education and economic security and just with the faces. they said look diverse party

that way honor the good police officers and said the bad apples have no place in this dialogue but i would say this election comes down to health care and what's going on with covid-19 on the contrast couldn't be starker than listening to joe biden talked of the families of the 170,000 americans who lost their lives versus donald trump when asked about the covid death toll saying it is what it is which has become a catchphrase across all the deviancy that michelle obama most notably using it. i think joe biden did a great job with the contrast of light versus darkness. i completely take your point there, but i think we know who is really fighting for this nation and has the empathetic party which is the democrats. >> martha: two very big topics right now. when i think of darkness, i think a lot of these videos we are seeing, this man getting kicked in the head outside of his truck, i think about the former police officer in new york city that we just show last night who was kicked and beaten by someone in the middle of broad daylight on 39th street so i do feel there is an ignoring of this issue and voters don't like when they are b

certainly it wouldn't make apple look so great, but it makes me want to pull out the violin. >> investors don't care just shows no sign of seeing this as a real setback i think it will play out for some time. >>> let's talk some gap. we haven't talked gap in a while, but they pivoted their supply chain to make face masks during the pandemic and it really paid off. they announced $35,000 of face masks. the city of new york, the state of california, kaiser permanente, dom. the stock is still down 2% on the year, but is this a new line of business for them it just seems like a one-off >> it could be a one-off, but i applaud them and all the other businesses out there, small, medium and large, that made the necessary pivots they had to make during the covid-19 pandemic some would say it's profit e profiteering, what you're trying to do is make up for some of the lost revenue let's not forget a company like gap had to close their stores physically speaking, they had to bulk up specifically e-commerce. one of the ways they made up for it is in making masks. these days, this is a fashion apa apparel compan

definitely you need to be careful you know, you would go down this road a lot, but you also, by the way, jim, are happy to applaud the success of the business that starbucks has in china or appleas in china or qualcomm has in chooen so let's not forget that but, yes, you do need to be extraordinarily careful. it was years ago we first reported right here on chinese cyber espionage of u.s. corporations, it quieted down for a while, it has picked back up in an extraordinary way from everything i hear, eamon javers reports on this as well. yeah, there is no doubt there is a lot of stealing going on that said, you know, jim, do you have any idea what the president was referring to yesterday -- and i'm sure we have the bite and we can take a listen and try to parse it in some fashion, but what in the world he was talking about with this key money? this key money idea? let's listen and then we can sort of see if there's any semblance of competence we can figure out from this thing >> whether it's microsoft or somebody else or it was the chinese, what the price is, the united states could -- should get a very large percentage of that price because we're making it possible. without us

care of. but the president has said today he was noty that putting any money in the postal service. you oldor those of remember, motherhood, apple pie, the postal service, and all american institution. that 1.2 billion prescriptions were delivered in 2019 by the postal service? did i mention that nearly 100% of veterans prescriptions come through the postal service? you probably know of people writing to santa or birthday cards being exchanged and the rest. much of it is electronic these days, but not all of it. in rural america, the postal service is highly dependent on it. they have not ever liked the postal service because they always want to find a way to make money off of something. now at a time of a pandemic, you would think they would have a little sensitivity. so obsessed are they to thatmine absentee voting this is their connection. the president says he is not putting up any money for absentee voting and he is not putting up any money for the postal service, under money the health of our -- undermining the health of our democracy. the money for the election that is in the bill is not just about absentee ballots. healt

i would say love apple, terrific company, great management, but, at the end of the day, it still, it is a hardware company, so be a little carefulis more asset light places like a facebook or google, which have a higher margin business. tom: the question i always ask you, use of cash. do you factor in evident growth to sustaining this? and, friendly, helping jerome powell's stability -- frankly, helping jerome powell stability? chris: i think so. the next six months are critical. the euphoria of the stimulus will start to fade. $4 trillion another or $5 trillion over the next six months. we are slightly pessimistic. they will be choppy waters. if i were joe biden, he may just repeat what happened to barack obama, who took office six weeks inore the market bottomed the financial crisis. eye on things an over the next six months. francine: what are the things you want to know for the next six months? volatility in markets, where extra stimulus goes to, or just who wins the u.s. election? because that changes portfolio management. chris: sure. mediacracy gete wound up about who will win, and there are other things that will move ma

this conversation around the app store and whether apple is in fact monopolizing the app store and will change its practices. we know ceo tim cook cares a lot about brand and perception, so given the unique position that epic is in, in fact, that it has all these users who are so young, will that perhaps push tim cook to change apple's ways and that 30% revenue it takes from apple developers? we'll see? >> and how scared should apple and epic be because of this kind of lawsuit >> there are massive user bases that are really the key here with 350 million people playing for billions of hours every month, and you have spotify, you have pile, you have sonos. these people will be upset if their favorite apps are pulled from their favorite devices, and that is something apple has to listen to. if the customer starts complaining, they might have to tweak the rules a little bit to make this happen and even looking forward to the future of gaming for some services coming down the line from microsoft and google, those aren't allowed on the app store, either, and those potentially compete with apple's own gaming product, so people are going to w

apple andghting of the impact on technology. the overall take is the change in representation in the dow. from 27%y will go down to 23%. health careill go up. that will change the performance. over time, the dow and s&p -- very well. short-term, not at all. as you mentioned, one is market waited the other is price weigh ted. the apple changes significant. the apple change in itself would have taken -- down to 20%. significantly under. [indiscernible] apple, because of the split [indiscernible][indiscernible]-- [indiscernible] if it goes down, you are only going to take one quarter of the hit. so, you reallocate and lock in some product. the issues we put in, the substitutions, we believe will influence what the higher end of the market is. of thisobviously, a lot is about balancing more toward technology with the apple stock split. what can we glean from this about your attitude toward embracing technology going forward? >> [indiscernible] this is market weighted. [indiscernible] the makeup is going to be different, but the apple contribution, plus or minus, will be -- that will be a major force in their. [indiscernible] guy: what

counts for around 30% of the s&p 500 and that's actually bigger than health care and consumer discretionary combined and apple record high this morning, i think it's advancing, rallying around 2% and that's helping lift the s&p today. apple, by the way, is just around ten bucks away from being the first company on the planet to cross $2 trillion. apple is now the most influential single stock on the s&p going back to 1980, in 40 years. as for record territory for the s&p 500, itself, we are at record watch. we need to close above 3386 for a record close for the s&p. one more number and one more intraday line to watch is that record intraday level for the s&p. we need to cross 3393 which i think we are just a few points away. we are about 12 points away from doing that. but again, this all comes back to tech and that's what's helped drive the nasdaq this year to 30 records so far in 2020 during a global pandemic, mind you. so the s&p is looking to cross over its first record so far in 2020. ashley: who would bet against it. all right, susan, thank you. let's take a look at amazon, if we can. lauren, they are a

health care also minor contribution to that we talk about those names, the big five amazon, that's not a mistake there. 46% and you could see apple, netflix, facebook, microsoft all very big contributions this is the main reason we're approaching new highs. >> who has better posters than that guy love the posters let's go to kate on how robinhood is raking it in because of the rise of the retail trader. >> robinhoods raising $200 million from a new backer. >> it's a price tag increase of almost $3 billion. all of this coming just a month after the company closed a two part funding round the round, 600 million robinhoods is climbing the ranks now among the most valuable private u.s. fin tech companies second only to strike. funding will be used for improving robinhood core product and customer experience. analysts telling me the fresh financing could help robinhoods accelerate its own mma plans >> it could help robinhood prime itself for an ipo. back to you. >> i'm curious we have been here before we hat the dot com days and the e-trade dominating air waves and people were day trading that way. do you think the app itself will be

care benefits. some of the biggest tech companies in the u.s. are lining up against president trump's ban on temporary foreign workers. among them, amazon, facebook, appled microsoft. president suspended a number of nonimmigrant visa programs. the tech industry has joined a lawsuit against the ban. that is your bloomberg business flash. that.e greatly appreciate risk-on-field today, dow futures up 2.81. and the vix really interests me, coming in 21.21 right now. almost down a full big figure. that really gets us back. i have to look at where we are back to in terms of march or the bliss of february as well. gold prints under 2000, right now 2005 on the comic future. ? -- on the comics future. guy? up by 13%,oxx 600 is the ftse is up 2% as is the cac, as is the dax. one of the stronger performers in terms of points, the biggest position to the markets, which is interesting that the money is going into that fly. yield, german unsurprisingly, was selling bonds today on a big update. we are going to talk about what is happening in turkey. our guests from soft and will be joining us next. this is bloomberg. ♪ of 25, nice advance to the market right now. guy

dynamic of mega cap tech companies like apple better off, worse off or indifferent as to who the next president of the united states is i think you have to be really carefulo expect a change in administration changing the tone maybe the style will be different, but this is a very bipartisan issue in washington in fact, i would argue that there are democrats that have made this a bigger agenda item for them than even republicans if investors are looking at mega cap tech as an investment where on the days biden is ahead in the polls so it's safe to buy mega cap tech company because china will thaw. >> applied materials rallying 2% of earnings results. >> lower quarter they reported $1.06 a share. that's 10 cents beater than the analyst's estimates. and $4.4 billion in revenues is more than a quarter billion dollars above. applied materials is also raising its outlook well above analysts' estimates. the ceo noted that the auto makers remain week but the pandemic is driving and accelerating what he calls a major technology inflection for semiequipment due to working from home, on lyle retaline ret. he believes levels will be sustained or higher in 2021. they