. >>> the complaint alleged that broadcom entered into long-term agreements that prevented chips being purchased by competitors >>> rahel solomon has the update. >> here's what's happening at this hour. republicans in pennsylvania's senate are discussing an investigation into how last year's presidential election was conducted. senator doug mastriano reportedly briefing on others.

. >> the ftc federal trade commission is charging broadcom with illegal month opization and orders the semiconductor to supply -- stop anti-competitive conduct. what they are saying is that the broad band has been monopolizing the mechanic for semiconductor components the commission also issued a consent order that would force them to -- to require the customers to source components from broadcom on an exclusive or near exclusive basis and the quote from this report coming out right now is probably the most i guess significant the ftc bureau of competition acting director said, america has ha monopoly problem. today's complaint reflects the commission's commitment to enforcing the anti-trust laws against monopolists including in high-tech industries again this is coming out the ftc is charging broadcom which you can see on the screen getting hit slightly now dropping even more -- over illegal monopolization this is with semiconduct are again the bold statement america has a monopoly problem. >> yeah under the avg, the ticker there not a huge hit on broadcom we'll talk more about it wit

broadcom shares up more than 10% year-to-date. bloomberg. ♪ emily: after the successful launch and return of richard branson aboard his virgin galactic spacecraft, the countdown is on for fellow billionaire jeff bezos and blue origin. next tuesday, july 20, the world's richest man will blastoff for a screaming 11 minute mission that will take him even further into space than branson. the billionaires claimed they are not competing against each other, but it's clear they both have big space ambitions. let's take a look at how their space trips compare. >> two billionaires, two trips to space, nine days apart. they are ushering in a new era of private commercial space travel. here is how the two space trips compare from takeoff to landing. this was virgin galactic's fourth trip to space with crewmembers, while blue origin is heading up for the first time with humans board. >> come this way. >> are you serious? >> i am. >> virgin galactic gets dropped off in the air by a larger craft and then released. >> release, release, release --

this would be a double down for the software firm, for broadcom.eep an eye on any headlines as they cross. let's pick off where guy left off on the delta variant. drew armstrong, bloomberg health care editor, joins us now. where are we in terms of the delta variant and how countries can manage it? drew: this is becoming the dominant variant of the virus. it appears to be more transmissible. unclear if it is more dangerous. it is hard to judge. you combine that with the fact that people interact with strangers again, go back to work, and all the sudden you see this uprising cases that will test plans for reopening we see happening around the globe. guy: the u.k. seems to be taking a risk, may be a calculated risk on reopening. england, we will hear from boris johnson, removing most restrictions. in terms of the logic and the science around all of this, can you walk me through what you are hearing? there is a pause for concern. we will see a pickup in cases. the belief seems to be you do it now rather than waiting for the fall. what you make of that

coming up the ftc going after broadcom, being charged with monopolizing a key market. details on that are ahead and a brand-new tesla model s plaid catches fire with the driver at the wheel. we'll talk to a tesla watcher who says that's not the only issue facing the company a lot more "power lunch" straight ahead >>> welcome back to "power lunch. let's get a check on shares of broadcom which are off their lows of the session but after pressure when the ftc charged the company with monopolizing the company ordering the chip maker to stop requiring customers to source components exclusively from broadcom. you can see it's not even that bad despite the news >> down less than 1% and we'll continue to see whether that will affect the way it deals with customers for something that is already priced into the market let's focus on the shares of tesla today, eamon what a story this has been >> the automaker reporting over 2,001 deliveries, roughly in line with what the street was expecting. this as an investigation into a fire involving tesla model s-plaid sedan. shares still d

i mentioned that wireless asset that we got from broadcom.ed it not to go after the mainstream types of products like high-performance computing or really high-speed types of applications, we positioned it to go into things. things like drones, things like automobiles, like games. we've done really well with that business it's outperformed our best expectations and i think it's because we didn't go after what everybody else was chasing we repositioned it to go after an interesting market that has turned out to be a great grower. >> we have to leave it there but as much as i like amd and nvidia, you need the mosaic. you have pc, mobile, hoteling, iot, auto, i'm not worried about you if things suddenly switch. michael rosen, president and ceo of synaptics "mad money" is back after the break. >>> coming up, don't make a move until you hear cramer's take on a critical crypto caveat can you cash in and let stability reign? find out, next ♪ ♪ experience, hyper performance that takes you further. at the lexus golden opportunity sales event. get 0.9%

i think despite the fact that it sold off today broadcom is the way i would play this. >> i saw whatt hotdogging it now at this point time seymour, let's talk about apple. more iphones what else can we say about it, 33 buys, no holds, two lonely old sells on apple stock at this point. i mean, is there something about apple we can say that we have not said already >> i'm not sure i'm going to reinvent the analysis here i'm just going to point out that this is a stock that's actually underperformed the s&p by 700 basis points this year and i know it seems after 21% move in 28 trading sessions that -- and an rsi by the way a relative strength indicator, this stock is overbought but if you look at two-year chart is looks like it wants to break out off of that blow off top it made last year it's certainly through that. i think it's all what the multiple, it comes down to this, if you listen to jpmorgan who put a bid in the stock today with an upgrade putting it on their analyst focus list and say it should be a 30 times multiple and they are around 570 a share i think that gets them up to

>> love it broadcom is in our best 12 ideas portfolio.e came out much before many expected i actually think this is interesting and an opportunity either to get in if you're not in or hold on. we're also overweight texas instruments and lam. it's usually early cycle we think the narrative has changed for chip stocks so remain committed and overweight across our equity strategies >> as we head into the close, mike, looking at the major averages, technology has been wavering within the s&p 500 between gains and losses energies have gone red we're off the highs of the day in terms of all the sectors working out. there's the nasdaq it's underperformed but still tracking for a record close. new highs in google and facebook what determines on a given day, is it the direction of the bond yield, what will work whether it's tech or financials? >> that's been a rough rule that has been effective for a while i don't even view it necessarily as the bond decides and the stocks react it's on a given day. where is the incremental dollar going? behind th

companies like nvidia, broadcom, the various power companies.e have to think about this like we do the internet. some of the end consumer platforms where the estimate of 800 billion is organized but we have to think all the way down to the companies who produce the hardware we use to access the meta-verse, that compute -- the computer chips. the companies that need to deliver this at ever-increasing bandwidth and reliability. all the way down to netflix and tinder who have to find new ways to exist in this averment. emily: curious how you see the worlds of d5 and the meta-verse potentially converging. this is another 10 knology folks are really bullish on and i imagine there is some intersection. >> for a very large contingent of the population, blockchain is synonymous with the meta-verse. i tended to believe it is not a strict requirement. all the things that blockchain does can be done through other means. the question is is it a superior way of doing said things or is it the likely way to which we do that? the best technology standards do no

sources tell us broadcom, one of the world's largest chipmakers is in talks to acquire sas institute.eal would value that between 15 million and $20 billion and would extend the expansion into software. the billionaire chairman has stepped down from the retail giant following a government led bailout. he will resign and be appointed as honorary chairman to guide the firm's future growth. plenty more to come on daybreak australia. we will check in on the markets and more. this is bloomberg. ♪ >> this pandemic is not over. this disease, coronavirus, continues to carry risks for you and your family. we cannot simply revert instantly from monday the 19th of july to life as it was before covid. we will stick to our plans to lift legal restrictions and social distancing. haidi: boris johnson urging people to stay vigilant after most pandemic restrictions are lifted next week. england faces up to 2000 hospital cases a day in between 200 daily deaths after those come to an end. in the meantime, the lockdown in australia's largest city is set to be extended after more than 100 new cases of cov

i like broadcom a margin of safety with a good growth opportunity. their business is selling out. they buy something or do buy back great dividend highest margins. cheapest thing in my coverage except for intel that's not to like >> what about the semi shortage. how is that impacting your group. >> we don't know how long it will last. that's part of the cyclical worry because the problem in a shortage situation as most investors know, you tend to order more we don't know how much is real and how much is it down. how is it impacting companies? some are supply constrained and some are limited how much they can upside because of constraints. the broader structural worries what is it doing, all the demand building my guess is it's still going, to you know, it will hold until it doesn't. my guess it will look pretty good the problem is with investors, investors are worried. by definition we have to be closer to peak than last quarter or the quarter before. >> so which one will you be watching for, stacy, for the outlook to give a general take on this is traditionally a cyclical group s

broadcom is slightly higher in the premarket. then there is this.enerate more than $94 billion in revenue by the end of 2025. that is up more than 60% from last year. companies including netflix, amazon, and disney expected to rake in over $81 billion from subscriptions. $13 billion, maria, from movie rentals and purchases. there's a question mark, what happens to all the movie theaters. those are your headlines from here. back to you. maria: yeah. couple of good op-eds this morning on netflix and on streaming in the wall street journal, just pointing that a one out on that story. cheryl, great to see you. thank you so much for that. meanwhile, bytedance is the owner of video app tiktok, putting ipo plans on hold amidday take security warnings from the chinese come mist party and -- communist party and regulator as didi confirms they were told to remove all 25 products from the app stores. joining me right now is d.c. international advisory ceo, former radio free asia president and former deputy national security advisor for dick cheney, steven yate

i think if you're looking for safety or some margin of safety, i kind of like broadcom.ancellable orders on their requirements their semiconductor business is sold out for the rest of the year they also had a software business that brings of margins and lower volatility i think either buyb dpback or m will be good it's the cheapest thing in my sup board, so kind of a good return for safety. >> what do you think of a company like apple that's getting ready to make their own chips? what impact does that have on the industry, do you think >> apple is not getting ready to make their own chips at least on the design side. they've been doing their own designs for about ten years. >> i know what i mean, though, sidestepping the traditional chip makers they have been using for decades and going to do it themselves >> so they've been doing their own multi -- what you may be talking about is on the pc side. they still have the manufacture -- it's apple's design, but they're moving out of iphones and i pads into pcs. apple's entire volt, they're about high single digits low single

ras saying he likes semicap names, applied materials and lam research and broadcom, strong dividend, high margins, attractive valuation. and notable laggards, we should point out here, qualcomm is down about 6% this year and take two, down about 15% under performing its peers activision and ea. back to you. >> josh, thanks for that stay right there we're going to bring in joe longdale for his second half playbook, palantir co-founder, joe, good morning. great to see you again i want to start with the tech megacaps, trillion dollar club, they regained their leadership over the last month or so despite more regulatory scrutiny, competition with each other. what do you think they'll do in the second half? >> you know, these companies are making a lot of money, we're printing a lot of money new and they're a big part of our economy, and there is a lot of people complaining about them. but it doesn't look like we're going to do anything to hurt their business. >> what about the regulatory landscape? you have strong thought os on a couple of them, google and apple and their app stores >> y

meantime jpm says marvel on the broadcom with the top spikes in the semiconductor they also like intelchcheck" after the break. me after time. gold. your strategic advantage. it's time to switch to t-mobile. right now, pay zero costs when you do! keep your number and keep your phone - - we'll even pay it off! only at t-mobile. the leader in 5g. after the the break. another update on apple. medical and health tech ambitions. what the ceo of med tron iks has to say plus miss an episode of "techcheck," it's a podcast. download and subscribe anywhere you listen to podcast. one more quick break and plus the fed chair set to begin testimony in a few moments. stay with us - [narrator] dearest noodle houses and hot pot hotshots, thank you for the stir fry that gets us all stirred up. whatever you can serve, we'll proudly deliver. (lively music) >>> apple and microsoft both in the headlines today with big launches for the iphone and windows coming later this year and the two companies also making big investments in medical technology microsoft through the plan $19.7 billion of nuance. apple thr

we like broadcom for broadly diversedfied technology company.to own banks for good inflation protection. charles: okay. joanne, fantastic talking to you about all these things. really appreciate it. we'll talk to you real soon. >> thank you, charles. >> hey, folks, i got a question for you. what do you think is the most important pressing issue in this country today? there is a poll that is really saying government by far more than anything. i've got larry kudlow on that next. also instead of showing up for work the for their constituents, texas democrats grabbed a whole bunch of beer and hopped on private plane all in attempt to usurp states rights. deneen borelli is here around she is a little fired up. we'll be right back. ♪ ♪ ♪ when technology is easier to use... ♪ barriers don't stand a chance. ♪ that's why we'll stop at nothing to deliver our technology as-a-service. ♪ the rule in business used to be, "location, location, location." to delivnow it's,chnology "network, network, network." so you need a network that's built right. verizon bus

the federal trade commission is charging broadcom with illegal month knopp zags specifically for chips in television and broad band services. the ftc stating, quote, america has a monopoly problem broadband not even a look down >> communication services is too many syllables >> i think i said community services communications services. i don't know >> it needs a new name >> sorry >>> the june employment report stronger than expected with most of the gains in leisure and hospitality. as the reopening gathers strength, in fact bank of america reported a 19% jump in credit card spending over a two-year period for the weekending june 26th most of this increased spending is going to travel entertainment and dining out bear that out. is it full speed ahead for the reopening or could covid spoil the rebound. joining me now is michelle meyer, head of u.s. economics. michelle, it's great to have you here and i think that, you know, just as we're getting to a breakout point in the labor market and the economy, do you think there's any signs yet of this delta variant slowing things down, or do yo

. >>> the complaint alleged that broadcom entered into long-term agreements that prevented chips beinge's what's happening at this hour. republicans in pennsylvania's senate are discussing an investigation into how last year's presidential election was conducted. senator doug mastriano reportedly briefing on others. he did not respond to questions. >>> authorities from barbados reporting no deaths. elsa may hit florida on tuesday after weak 1/2 to a tropical storm. >>> with july 4th almost here, it's a time for warning. los angeles firefighters and bomb squad members blowing up things and what y-- >> rahel, thank you. >>> when we come back. value investor scott black is here with his topics. >>> later, mark short, former chief of staff to vice president mike pence, will join us to weigh in on today's strong jobs reports and the telast policy proposals. we'll be right back. dow is up 150. [wrestling bell rings] [music: “you're the best” by joe esposito] ♪ try to be best 'cause you're only a man ♪ ♪ and a man's gotta learn to take it ♪ ♪ try to believe though the going gets rough ♪ ♪ tha

the mys that have great end markets, iot, ai, 5g, data center, cloud, apple, the names i own are broadcomure and lamb research, which is having a bad day today, but they beat and raised. i do like their space very much. so looking to pick that up more if it continues to be weak >> let's talk facebook, giving back some of the recent gains, down 4% after revenue growth warning. julia boorstin has the details. >> facebook shares dropping some 4% today, this after second quarter results beat expectations on the top and bottom line, but warnings about slowing revenue growth is weighing on the stock. mark zuckerberg focusing his remarks on more opportunities ahead, as he looks to transform the company to focus on creators, commerce and the metaverse. the question is whether it would echo facebook's warnings about what's ahead or the bullishness we heard from snap and twitter, they both guided to better than expected third quarter results pin pinterest is projected to add 4 million monthly active users, this after last quarter user growth disappointed and the company warned about slowing growth

employees were said to have thought the company would be a strange fit for the efficiency focused broadcomrlier, the wall street journal reported the two sides were discussing a deal. a company jumped by 7% tuesday amid media reports of a trademark application. the report suggests korea's e-commerce giant will launch an online business selling office supplies or launch a b2b brand focusing on business operators. coming up next, another bloomberg's group. apple and goldman teaming up. we have the details, up next. this is bloomberg. look...if your wireless carrier was a guy, you'd leave him tomorrow. not very flexible. not great at saving. you deserve better - xfinity mobile. now, they have unlimited for just $30 a month. $30 dollars. and they're number 1 in customer satisfaction. his number? delete it. deleting it. so break free from the big three. xfinity internet customers, take the savings challenge at xfinitymobile.com/mysavings or visit an xfinity store to learn how our switch squad makes it easy to switch and save hundreds. vonnie: this is "daybreak asia." i am vonnie quinn with the