dan ives. >> thank you.iz: making the tall call for apple and needless to say, says the deal is sealed and it's microsoft and walmart. we'll be watching for the news on tiktok. thanks so much. >>> closing bell ringing in 15 minutes. up next, travel stocks taking flight. could a raging mask debate throw things back up in the air? >>> and as many americans lose their jobs, their business, and their hope during the pandemic, this week's everyone talks to liz podcast guest shares the number one reason why you should hold on and keep the faith. kind found er has kind bars, yo know them, struggle to make ends meet and almost, you may not know this, threw in the towel just as he was about to launch his nutritional snack company. hear how he went from the brink of bankruptcy to billion dollar brand. find out how his dad's holocaust survival story inspired him to help people from all walks of life. the story available on spotify, apple, google and fox news podcasts.com. let me know what you think when you listen to i

i want to bring it dan ives. wechat is the key reason people buy phones in china. is not an apple's app store or google's play store, what does that mean? dan: this is a slippery slope. i think it is unprecedented, choppy waters. right now it comes down to wechat and bytedance -- it is a gut punch to those companies when you look at the global expansion plans. this is something i think over the coming weeks and months, there's going to be more chapters to this book. about so, talk to us chapter one. presidente, where the in the last week and a half or so has taken aim at this company. said it is going to be banned unless it is bought by a u.s. company. microsoft and negotiations to buy part of tiktok, maybe all. what is the tak your take of a likelihood being done? dan: 75% to 80%. for microsoft, it fell on their lap. christmas morning came early in terms of this asset. they are the only ones in town that can buy. the faang names, they are up to their eyeballs and regulatory swirls. this would be a major turn in terms of social media. i think it is worth $200 billi

let's go at it with apple guy himself, dan ives, from wedbush securities. ve raised your target price to $515 a share but right now, i see rotation out of apple. the stock is down this morning. is that a temporary move? >> oh, yeah. we see this as temporary. i think the path continues to be much higher on apple because right now, they are going into a super cycle and i mean, i think you look at the services business, i think it's worth $750 billion. i believe three to six months from now, this is a stock not just north of $2 trillion but i think we start to get to what i view in bold case as 600. stuart: whoa! you just raised the ante there, dan. let's suppose that biden wins the election. let's suppose the economy does not do well. you still looking for 515, 600 bucks on apple after all of that? >> because it all comes down to numbers. 350 million of 950 million iphones right now are the window of an upgrade opportunity. i think that's why the stock continues to go higher despite the haters scratching their heads. if you look, this is in my opinion probably

top apple analyst, the man himself, dan ives. e. >> yeah. to me, this is really a super cycle. i think it's a once in a decade opportunity for apple. 350 million of 950 million iphones worldwide are in a window of an upgrade opportunity here. i think the super cycle with 5g plus services, we have a bull case at $600 and i think this is just more of a re-rating by the street in terms of what we are seeing with cook. stuart: scares me to death, the idea of buying a stock that's been on such a run, doubling, gaining a trillion dollars in value in two years. i'm not alone, surely. there are a lot of people with very cold feet about jumping in now. >> no doubt. but you have these opportunities. u.s./china headlines, these stocks are down, knee-jerk reactions after quarters. you've had the opportunities. that's why i think look at the forest through the trees. this is a company right here, i think it's starting to deserve the multiple it gets. you look at the super cycle ahead, what cook's done here with back against the wall is really

but dan ives joins me now. obviously a big day for apple today. we knew what is coming, but what is the significance of this to trillion dollar milestone? dan: it is a monumental achievement for apple. and i think it just shows these skeptics that three or four years ago that thought growth was over in cupertino, it proved them wrong again. especially them hitting it before apple and amazon and others. i still think more bullishness ahead. is up the only way to go? we are still facing a lot of economic uncertainty the second half of the year. consumers not necessarily going to have stimulus checks in their pocket for discretionary spending. what does that mean for iphone sales? dan: i think for apple it'sfically, an dit -- and factored into iphone sales for the next 12 to 18 months. backdrop we are seeing. i also think there is a new appreciation of investors in terms of the services business. $60 billion annual revenue. i think it is worth up to $700 billion. iphone sales, 350 million iphones have not been upgraded in 3.5 years. i believe we are g

have dan ives last week, talking about how devastating a potential ban of u.s.ompanies working with we chat could be. talk to us a little bit about some of the other tech names. apple, microsoft, twitter all sort of tied into this tiktok situation. abigail: it is really interesting to see. i want to point out the degree of this possible market cap for apple. if we go into the bloomberg terminal and look at this chart, this is apple's percentage of its market cap of the russell 2000. apple's market cap, let's call about 90% of the russell 2000. that really puts into dominantve just how apple is at this point. twitter popping on this news that they may in fact put in a bid for tiktok. a possible war. microsoft has confirmed that they are likely to put in a bid. almost $1.6cap, trillion. twitter, about $30 billion. huge spread. but they possibly will be competing for those tiktok u.s. assets. emily: so much to examine here. abigail doolittle, thank you so much. continuing on this theme of chinese social media apps and their parent companies, tiktok now says they pl

i just spoke to wedbush analyst dan ives who tells me quote, it would make sense that oracle, which has also been mentioned, the stock is up 1% right now, would try to put its hat in the ring but microsoft, according to dan ives, has all the dynamics to be the only true bidder. that actually squares with what our sources have been telling us. >>> to the covid catalyst. u.s. approval for emergency use of blood plasma from patients who have recovered from covid, that's boosting shares of biotech and biopharma firms involved in covid-19 convalescent plasma despite some doubts about it as a covid therapy. on the vaccine side, the trump administration considering fast-tracking an experimental covid-19 vaccine developed by astra-zeneca and oxford university for use in the u.s. before november. read before the november election. all right. we've got astra-zeneca up just about 2%. separately, pfizer and biontech say their joint vaccine will be ready as early as october for regulatory approval. look at adma biologics. these are plasma companies on your screen now. >>> all right. so look, when yo

opening in record territory after dan ives raised his price target to $1900. a big friend of the show. what dan says, a lot of people listen to. as you can see, tesla up another 33 bucks, another 2% at $1685 for tesla. >>> what about zoom? they have expanded their service to another 25 countries around the world. that brings their total now to over 40 countries and that stock up 2.25%, five bucks, at $250.63 for zoom. >>> let's take a look, what about home depot? they will be reporting tomorrow. i think they have done pretty well. lauren, they brought in some serious cash, have they not, during the pandemic? lauren: absolutely. tomorrow, they are likely to say that revenue increased 11.4% to just over $34 billion as customers continue to flock to stores, to paint, mulch, remodel, you name it. shares at a record high right now. analysts continue to expect people to spend on their homes versus other discretionary spending like traveling and going out to dinner. even if the stimulus checks, as they start to decrease, people are still going to spend money at home

the previous exception if the law fails in november let's talk about this and other topics with dan iveset's talk about the uber and lyft story how big of a deal is this if hy hypothetically uber and lyft have to have employees >> it is a massive deal. the worry is the affect it could have across the world for the gig economy. this could add significant cost and could be a nightmare scenario depending on what happens with prop 22 it is a high-stakes deal for lyft and uber. it comes down to what will happen in the courts and at the ballot box in california >> if you look at the stocks for each of these, they are not terrible but certainly underperform a lot of these being priced in right now. how much do you worry of other states following the lead on this >> you see other states and countries when p it comes to uber that's why i say this is a fort sumner moment that's why lyft threatened to pull the plug. this continues to be with investors with a covid back drop, eb 5 continues to be a back drop. >> what does it mean to focus on other parts of the business now in terms of food delivery.

toember when dan ives said trillion dollars for apple and it felt like a call? it is no longer a call. here, the very subtle general lift of the market away from the glory stocks out there right now. what i love about what michael dart us said in the last at -- what michael dardis said in the -- of kkmof in partners. jonathan: let's bring in daniel alpert right now of westwood capital. put these together for us. is thisthe bottom line rapid crash in u.s. employment which is not getting recovered from any time soon threatens to descend further into systemic crisis. we will see households unable to pay the bills and small and medium-sized employers who give jobs to about 50% of american workers failing as aggregate demand collapses and extended pandemic and end of a central support two households. it is really going to be a problem. you were talking about the equity markets. this is beginning to risible that of september 1929 to april 1930, when the equity market recovered 50% from post crash lows. government policy errors were building up, and what did you get? y

dan ives, managing director of equity research at web bush security great to have you with us.n the i-12 they're due for an upgrade what assumptions are you making in terms of what percent get upgraded and what the impact of covid could be on those sales? >> yeah. no doubt right now i think it's almost a once in a decade opportunity for apple in terms of what we've seen in the upgrade cycle. right now we're only looking at 200 million. when we start to look, part of what we're seeing is the rerating and stock and it's services and it's what i believe is a super cycle on the horizon given the pure 3 1/2 years of 350 million have not upgraded the iphones. this is a drumroll not just a $2 trillion stock, we have bold case 600. >> you say china's a key ingredient 20% of those iphone upgrades are going to come out of china i'm wondering, dan, how you factor in a potential ban or the executive order ban on we chat and potentially tiktok in china. i mean, if apple, for instance, is forced to take tiktok and we chat out of the app store, how many ofthose upgrades will actually happen i

dan ives of wedbush catching up with me in about 30 minutes.l then catch up with jerome schneider of pimco. looking forward to the conversation about an hour from now. tom: that will be important. jerome schneider truly expert in the short term paper space. we will do what we have not done. we have looked at the stimulus and all the different news. the perfect tragedy in beirut. tiktok and idea of microsoft. with aindlain joins us broader view on where the industry is going. sarah, let me start with a million dollar question. there is a lot of angst about china, huawei, tictoc, and many more. is it justified. do we have evidence they're playing with our software? sarah: that is a very fair question. a historyy have seen in the past of chinese corruption, the supply chain issues, and we have a long-standing issue with piracy in china as well. what we are seeing in this particular situation where we is theking about tiktok government perspective is that tok is built using a series of algorithms that leverages the data users are uploading, that th

i have been remiss in mentioning this, dan ives over at wedbush with a new price target on apple , $600. maybe that has a little bit to do with the lift we see in the nasdaq. curve steepening. lisa says i have to mention the tip, negative 1.01%. stay with us. this is "bloomberg surveillance ." ritika: the first word news, i'm ritika gupta. hurricane laura is taking aim at the texas/louisiana coastline. the hurricane center warns it could rapidly strengthen to become a life-threatening category four storm, with winds of 130 miles per hour. it is expect to make landfall late today or early tomorrow. the hurricane is already disrupted oil and gas production and could keep some of america's biggest refineries shut for months. the food and drug administration commissioner tells bloomberg, "made a mistake." stephen hahn spoke after overstating the benefits of a therapy for coronavirus patients. he says he worries that his mistake will hurt the public perception of the fda. he also said the agency would not rubberstamp a vaccine. china has said it has made concessions and allowing u.s. regulat

dan ives. >>we've got another big story. we're following this morning all muni rail service will be instead by bus today as that has many rail services shutting down in san francisco for the next several weeks. it's all because of equipment problems and someone in the control center test tina testing positive now for covid-19 muni resume service on saturday 5 months after being suspended because of the pandemic if you want to check out the schedules and how all this is affecting various muni lines you can go to kron 4 dot com. and let's go ahead and take a look at the 7 day as dave's been mentioning all the all day we're still going to have the hazy sunshine from the fires today and then tomorrow we'll probably still the same one thing that's been really good is that we've had fog overnight to kind of keep things tamp down as far as the fires go. highs will range from the 90's inland to the 60's along the coast, plenty of sunshine, a throughout the rest of the week, so thanks a lot for joining us this morning. we will see yo

analyst dan ives raising it to a street high of 600 bucks. right now it's at $502.63. what will be the catalyst to get it to 600? he forecasts an iphone 12 super cycle. what won't be on your current iphone, though, may be the latest version of the wildly popular fortnite app. epic games saying fortnite's chapter 2 season 4 which debuts tomorrow will be m.i.a. on ios4 or mac os users due to ongoing battles with apple over its app store fees. apple is moving higher, .3% higher, but tencent which owns a major stake in epic games is unchanged at the moment but still close to 52-week highs of $71.17. >>> to the white house, where at any moment, president trump is set to meet with medical professionals who are advising the administration on the coronavirus. to blake burman, who is live right outside. blake, let's start with the question, do we know who might be present here? reporter: -- the white house not saying but the president is expected to be meeting with these medical experts during this hour, i am told they are medical professionals who have been helping advise the

apple got another upgrade, 515 from 475 although the analyst, dan ives, said it could go to 600.rom $127. the reason i point that out, they essentially more than doubled their estimate. nvidia got another upgrade to 520 at bank of america. just to me it underscores the point for investors watching out there, i know it gets worrisome if you missed a play or even if you hold these stocks and say should i sell, should i sell, should i sell i think wall street is almost always late when it comes to these opportunities. >> i agree. look, we have talked about this before, charles. the market is forward-looking. that's what you are seeing right now. you are seeing, that's why you are seeing some of these recovery companies start to bounce back. the stock market knows before everyone else. it's easy to make the call now after a stock has run up 100% that now you want to upgrade it. it would have been nice to know 100% ago. charles: yeah. although i love it. know what, we take advantage of it, we can get position, we can get clients position, then wall street takes it up another notch. i

dan ives joining us there on apple and tech.les tiktok mansion left in the dark. the morning buzz coming up next. ♪ ♪ i like liberty mutual. they get that no two people are alike and customize your car insurance so you only pay for what you need. what do you think? i don't see it. only pay for what you need. ♪ liberty. liberty. liberty. liberty. ♪ i am totally blind. and non-24 can make me show up too early... or too late. or make me feel like i'm not really "there." talk to your doctor, and call 844-234-2424. but what if you could stdo better than that?k. like adapt. discover. deliver. in new ways. to new customers. what if you could come back stronger? faster. better. at comcast business, we want to help you not just bounce back. but bounce forward. that's why we're helping you stay ahead and adapt with a network you can count on, 24/7 support and flexible solutions that work wherever you are. call or go online today. ♪ ♪ maria: welcome back. time for the morning buzz. first up lights out for uninfluencer. city of los angeles

joining us right now to talk more about apple's run higher in spite of recent blow back, dan ives is managing director of equity futures and mike santoli. dan, the question i'd ask is it feels like this is going to be a blowout fall for apple, so many people buying more computers expectation they'll buy more phones the question is is there a pull forward here i say that a little bit from anecdotal experience the sorkin family just bought two new macbook pros for the kids because who knows how virtual we're all going to be. is that a pull forward i think i probably would have bought those computers maybe a year or two from now the question is is this just accelerated now on an upgrade cycle or upgrade strategy in the future >> on the mac side, definitely a little bit of a pull forward 350 million of 950 million iphone are in the window of an upgrade opportunity. 20% of those in china. that, in my opinion, is the fuel that works for apple iphone 12 is a once in a decade opportunity in terms of the upgrade cycle. i think there's a bit of a pull forward. blue skies ahead in terms of upgra

stuart: $515 a share for apple from dan ives. yeah. the wedbush guy. okay. >>> the dow is up 200.p another $2 a share. more "varney" after this. tara, did you know geico is now offering an extra 15% credit on car and motorcycle policies? >>wow...ok! that's 15% on top of what geico could already save you. so what are you waiting for? idina menzel to sing your own theme song? ♪ tara, tara, look at her go with a fresh cup of joe. ♪ gettin' down to work early! ♪ following her dreams into taxidermy! oh, it's...tax attorney. ♪ i read that wrong, oh yeeaaaah! geico. save an extra 15 percent when you switch by october 7th. ♪ give it up for tara! stuart: dow is up 200. the nasdaq is down 90. that's the state of play. look at mcdonald's. they are now suing their former ceo, steve easterbrook. he allegedly lied to the board about a past relationship with an employee. the stock not noticing that, not much movement there, down 60 cents. $203 a share. >>> listen to this. the champagne industry are going to take a $2 billion hit this year. after all, weddings, celebrations, canceled all round th

and wedbush's dan ives think that proposition might work in uber and lyft's favor. that the public might side with the companies. let them operate. we want a cheaper ride and a safer ride. david: we do. the consumers deserve it. thank you very much, lauren. jonathan, how bad can this get for the ride share companies? >> it can get very bad, david. one of the things we haven't seen yet, talking about fundamental data, is a spike in corporate bankruptcies. a lot of businesses, big and small, are hurting if access to capital gets cut off, trade continues to get cut off, i think the economic data could actually get better. difficult time to be an investor for that reason. there are so many fluctuations. you have to figure out how many hug huggys walmart is going to sell. people are confined to their homes. the winds and tea leaves are more difficult to decipher now than they were during the great financial recession in 2008. david: we didn't have an election two months hence during that shutdown. jonathan, thank you very much. check the futures. we are down on the major

dan ives gave it a $515 target.k, now that it has closed with that $2 trillion valuation and it continues to hit new highs, with this hype comes criticism as ashley just told us. the major newspapers and game makers are challenging apple's commanding dominance and role in the u.s. economy. when you consider you have apple, google, amazon, microsoft and facebook, so those five big tech companies pack up 7.36 trillion valuation. they make up more than a fifth of the s&p 500. so when you think of the s&p 500, it's basically those five stocks plus like 495 other stocks. we are talking about five stocks when we talk about wall street. stuart: that's right. money is concentratedly flowing into those five big name stocks. i keep using these words. amazing, astonishing, incredible. all of the above are true. all right. thanks, lauren. thanks, ash. >>> speaking of big tech, vice presidential candidate kamala harris has some strong ties to these tech companies. could this cause a problem for her with voters, ashley? ashley: i

dan, good. thanks to catch up with you. ives of wedbush.onavirus may have the way ly stained america goes on question now learning.e work and vacation plans don't have to end with august. the one thing for sure, are not flying this month. this chart from the t.s.a. shows the total number of passengers security is far below last year's levels. picking up a bit. road trips rare than air trips are gaining in popularity. national parks seem to be more than urban areas. the other rising trends, and recreational vehicles. these have soared. doing a staycation with the whole family. out for how it pans me. this is bloomberg. ♪ alix: breaks news for you, the trump administration is firms can use wichat, tiktok, there were words banned.ing now, it looks like the trump dministration will allow u.s. firms to be able to use wechat in china, specifically. we'll update you on any headlines as they cross. a great study that came out that would say eople they'd rather ditch their iphone wechat. what's important for housing is lumber prices which is going h