we had craig moffett a couple of weeks ago. >> was it? >> two weeks ago >> time stands still we'll say, and we made this point then, they have no etf growth, they've multiple debt issues i would submit, and we did this a couple of weeks ago, 10 1/2, 11, they're going to earn basically $2.95 a chair. it traded below 33 today my point is i still think there's about 5% downside. >>> coming up, shares of apple, check them out, surging to all time highs as it crushes earning, now a $900 billion company. when you hear what gene munster has to say, you might be tempted to buy the stock right now i'm melissa lee, you're watching "fast money" on cnbc, first in business worldwide here's what's coming up on "fast. >>> what does the nomination of jerome powell to the fed really mean for your money? here's a clue. >> it's easy money >> it sure is. we'll tell you the stocks you want to own when "fast money" returns. the amazing new iphone 8 is at at&t... and we know you'll love it. because we know you want more. more great camera features and more powe

. >>> for more, let's bring in craig moffett. always great to have you with us. >> great to be back. >> what do you think happens >> first, let's depoliticize it for a second perhaps the president approached the doj, but let's assume that's not likely the case and this is really about a legitimate argument for a vertical foreclosure. here's the problem and the reason in theory it could raise prices that is that 70% of the world -- or of the country consumes time warner content through some platform other than at&t, now that at&t becomes a supplier to its direct competitors, it has an incentive to raise the price. >> so, in other words, i'm a verizon fios customer, i stream hbo and hbo go at&t now owns hbo in the future, so therefore i might have to pay higher priced? >> and by the way, comcast is goingto be acquiring content now from its direct competitor at&t that it's also direct competitor in at&t, so at&t has an incentive to raise the price to comcast, to dish network, it has an incentive to raise the price to everyone else o

craig moffett is on the line, thank you for calling in what do you think of verizon jumping into the pool? >> frankly i would be a little surprised about either comcast or verizon but verizon has always said they're not interested in content. and while i suppose it makes sense to explore, they haven't shown all that much interest in following the at&t blueprint or trying to vertically integrate and now with the department of justice questions about whether that deal is possible, i'm not sure they would be in a rush to do it. >> yeah, i actually want to play you a sound bite, from the ceo of liberty media, this is what he said about those vertical deals. >> how many subscription services are consumers going to step up for? disney for fox, don't know, but my guess that was about getting scale, trying to increase their -- >> for disney? >> for disney, for direct to consumer offering. throw that in with a challenge, the government by entering into the time warner/at&t merger discussions has thrown all that a wrench into anyone's plans i don't know how you can announce a big media deal to

but analyst craig moffett says it's not a slam dunk for either side, complicated in a landscape where it would be a rival to other media giants. >> 70% of time warner content is sold to someone other than at&t itself. it's sold to comcast, charter, dish network and so on. at&t, because they directly compete with those companies as distributors, has the incentive to raise costs to competitors, which will ultimately raise prices to consumers. >> reporter: what happens next in this case will be watched closely as an indicator of whether future media deals will be approved. for "nightly business report," i'm julia boorstin in los angeles. >>> the federal communications unveiled plans today to repeal obama-era rules governing the internet. that could give internet providers broad powers to determine what websites and online services their customers can see and use. the vote on new rules is scheduled for next month. roger chang is the executive editor at cnet. he joins us to talk about why this is important and what it could mean to you. good to see you, roger. >> thanks for having me. >> w

. >> craig moffett >> mr. moffett talked about the pitfalls, i know i'm getting old, but the pitfalls at&t has in front of them now that gets you down to a $31 stock. >> that's your time warner trading at 12, 13 times. why does disney deserve to trade it up? >> they don't deserve -- >> why does time warner deserve a premium? >> look at what people are bidding for, look at what assets they're bidding for. why would disney be interested in fox, a, and the only thing the justice department wants at&t to divest is the good part? >> let's close the loop on this. the other venture we're going to choose -- >> no, can i tell you something? so the republican administration breaks up this vertical deal and -- >> we have a limited amount of time >> -- comes in and buys time warner so you're going to let the japanese buy it? it's the most ludicrous thing on the planet >> there are a couple of scenarios that could happen. the other scenario is that the deal doesn't happen. what happens to at&t and time warner >> well, if t

because of insurance were largely blind of what they are paying of healthcare >> good comparison craig moffett. >> thank you, david, he's going to work the phone. we'll head back to jim cramer. >> hey jim >> we are at the biggest celebration happen in san francisco and it gets bigger every year tell me the size of it and what you are shooting for, marc benioff. >> people can join us and see the show and see what's happening here >> you are setting a goal of $20 billion in reserve news. you just did 10 billions, too ambitious? >> no, we are going to double this company again we are going to do more than $10 billion this year and we'll fast track it to 20. >> one of the things we have been talking about how fox and disney, talks are on right now i would suggest fox boost, foxx seems to be about finding millennial consumers in order to find consumers and keep consumers, they need sales worth, how does this happen? >> every company is getting closer to their customers. it does not matter if you are a b to b customers or b to c company. >> fox is no different and all of news course are in no differ

. >>> with time warner, for more on this, let's bring in craig moffett. thanks a lot for phoning in, short notice we appreciate it. >> my pleasure, michelle. >> it's melissa. >> i'm sorry. >>> that they're demanding a c.n.n. sale what's your take on whether there will be asset sales? >> well, you know, we've said all along that it's likely that at&t would be president trump signaled that was his personal problem with it, so it will raise eyebrows if that's the structural fix they're looking for considering they were up in arms over at&t having control over entertainment content what did you see initially as the sticking point, and if it's just the sale of cnn that's a pretty good deal still from at&t's perspective. >> what at&t wanted and still wants out of this deal is the ability to create phone content bundles with telecom that's -- well -- while they have said they would still like to own the cronn business and think it's good business, it's certainly not a make or break asset for whether or not at&t would want to continue to do the deal. >> they are

and later we will talk about craig moffett, we had nathanson, yao we're ba now we're back to more fet wchating "squawk box" on cnbc will they stay true to their words? or did they promise you one thing... only to do another? right now, congress is talking about tax cuts that will add trillions to our national debt and hurt our economy. it's time to tell congress... don't borrow more money from china. and leave more debt to our kids. keep your word. tax cuts shouldn't add to the national debt. i am the proud father of aeness very strong little girl named adelaide who was diagnosed with infantile spasms an incurable and debilitating form of epilepsy. it's been a devastating journey that has robbed my baby girl of normal development. that's why i have launched the my shot at epilepsy campaign and i'm asking you to join me. take your shot at the hamilton pose, donate to help us find a cure, and lastly, share it on social media. this is our shot to take. learn more at: myshotatepilepsy.org >>> u.s. equity futures at this hour, had a solid session yesterday. down most of the morning, then d

. >>> joining us to talk about deal making is craig microsooff co-founder of moffett nathanson.es at&t have against the government. >> look, they've -- what they will argue is that first the real competitors here are google and facebook not the traditional comcast and dish network second and maybe most importantly, time warner's content or turner's content is nice to have but not necessarily must have. you can't hold your competitors hostage by threatening to withhold that content. the really interesting thing yesterday, though, was in at&t's reply comments the night before last, in at&t's reply comments to -- in the case, they effectively volunteered and made bind ago set of behavioral remedies that would have been what you would have expected the doj to recommend. >> because it's the same as comcast nbc universal. >> and it really gets right to the heart of the doj's case which is that you could raise the price of content to dish network, comcast and what have you. so that have sort of neuter it had doj's case in a very preemptive way it will be interesting to see how the judg