we bring in dan ives, managing director at wedbush.ffirm the accounting integrity that gets you to $1000 on tesla and ms. wood to $3000. dan: it comes down to can they do 1.3 to 1.4 million units next year. will they be profitable? i think $1000 is the least case. bull case, you get to $1300. tom: we got to reset on apple. the new chip is extraordinary. all you need to know is that technological marvels. do you adjust your bull case to get out to a $3 trillion apple at 181 dollars a share, or $4 trillion at $241 a share? state the bull case. dan: the bull case now to try to $25 -- now 220 have dollars. -- now $225. i think the story now is the innovation you're seeing on the chips. but right now, demand is outstripping supply by about 10,000 to 15,000 iphones per day. put that together, this is something that i believe right now we are running into, about 5% shortages in iphones coming into the holidays. jonathan: is it the high-margin goods that can't get the chips? is it broad-based? what is your read on that? dan: we call about five

dan ives is going to join us.ng to be an important interview on apple, amazon, and the rest of them. david wilson has a courage to look at cheerios. cheerios is trading at a 16 multiple. if you don't know what that means, all you need to know is cheerios are wicked cheap. david: they are not so cheery, put it that way. or you could look at procter & gamble and say the company and its peer group have been pounded and grounded. we are talking relative terms here. when you look at the s&p 500 consumer staples index, you are talking about the lowest index value relative to the s&p 500 since january 2001. so we are not quite back to the lows that we saw in the dotcom years, but we are moving in that direction. eng talking about costs being even higher than they anticipated because of what is happening to commodities and freight. tom: within the research you read, are they a value trap? david: that becomes the question. you are talking about a slower growth kind of area, no matter which segment of consumer staples you l

musk as always let's talk about this with dan ives what's your macro take on big tech right now is it played out >> in my view, this is just sort of a white knuckle period to what's in the midst of a broader multi-year rally for tech. to us it's a doubling down on tech in our bull thesis here because we don't worry about some of the events or a 20-bit move in the ten year instead focus on the digital transformation it's $2 trillion of spending in the next decade. still think 16,000 is our target for nasdaq year end. and this is just what i view as a rest or digestion period as any start or negative thesis for tech. >> do you expect more of that ahead? historically fourth quarter is great for stocks, do you think it could be the same, you think? more volatility or does the d.c. debt deal smooth things out? >> right now it's a brig green light to own tech, more than 10% plus going into end of year. i think q3 is going to be a major positive i think the street is underestimating numbers for the next 18 months on tech the haters will continue to hate they've hated the tech rally the last

of course, definitely not for me phil, dan ives are great conversation pieces but, yeah, energy feels definitely old age here jed clam pet probably from "the beverly hillbillies" is a happy cam per today, loving on the black gold texas tea but from a serious perspective, energy continues to mark all of the three boxes that i look for in investment. technicals are definitely there. i believe the macros are there from a fundamental side, well, the fundamentals have a valuation perspective have definitely been there for the last eight years you definitely had the returns that you have had in a tesla, but i think most traders would call it late to the trade here that a lot of the easy money has been made. >> right >> i don't agree at all. i think they're wrong. i think short term, yeah, the sector looks a little bit over bought right now it looks like it could possibly take a little bit of a pause, but longer term we are very bullish on the entire sector, specifically emp why are we long-term bullish right now these companies are being priced at a 40% discount so the forward 12-month stri

where is -- until block -- dan ives -- mental block -- dan ives? a thousand bucks a share. the price target when we come back. merck is bullish it's antiviral drug and we discover that next with andrew pekosz. from new york city, good morning, this is bloomberg. ♪ ritika: what the first word news, i'm ritika gupta. nancy pelosi will try to get a vote on the infrastructure bill that's been held up between a fight between moderate and progressive democrats over the economic agenda. progressives have vowed to stall the infrastructure bill if the house does not move on a spending package worth as much as $3.5 trillion. one out of four companies imposed a vaccine mandate for u.s. workers, a sharp increase from last month, and 13% plan to put a mandate in place, after president biden's directive requiring employees to require shots or testing. this is affecting about 400 companies. in the eurozone area, prices rose at an annual rate of 3.4% in september. the core rate which takes out volatile components, increased 1.9%, a rate not seen since 2008. a vote whether to split off the

i didn't listen to dan ives. gm, and the engineer maryborough gets a lot of credit for this. -- engineer mary barra gets a lot of credit for this. jonathan: these guys get a lot of cover, tech firm, tech firm, tech firm. then out of a sudden, gm pops up in the last six months, and it is a big focus. lisa: so which companies get pushed into that new regime? have they also started to cover ford? jonathan: i think that is coming next. lisa: ford shares are up more than 80% year to date. so if you take a look at what is being priced in, it gets very curious in terms of who could potentially catch up tesla and their moonshot. tom: and they are selling more of them than the hydrocarbon one. there it is, jon. folks, you've got to understand, none of us drive. lisa: speak for yourself. [laughter] jonathan: one of us does. not you, but lisa does. lisa: i will say, i do think the move to electric vehicles will be really interesting. where are you going to target? where are you go -- to charge it? where are you going to cha

dan ives of wedbush securities will be joining us next.berg. ♪ guy: from london, i am guy johnson. alix steel is very much in new york. this is the european close on bloomberg markets. tesla is holding its annual meeting they are today in texas. the electric car companies q3 numbers beating the analyst estimates despite the ongoing chip shortage. for more on what we can expect from tesla and the significance of the bid in texas, are they going to move there? david welch, bloomberg detroit bureau chief. what can we expect today? david: there is a proposal to oust two members of the board, one being james murdoch of murdoch media company came -- of murdoch media company fame. shareholders want more accountability, they want more disclosure from the company, particularly when it comes to hiring and diversity. tesla had to settle a lawsuit earlier. what has been an issue with tesla for a long time -- investors have thought whenever there were down periods for tesla or whatever elon was in a bit of trouble there was not enough outside oversight

and the ministry is expected to green light production shortly thereafter dan ives joins us now. thanks for joining us this morning. tesla guru you've been following this stock for years. looking through your latest notes on tesla, you make the point that building out manufacturing capacity globally remains key to tesla's success how do the new production plants in austin and berlin help it build out production capacity? what kind of gains do they stand to make? >> yeah, these really lynch pins to the broader tesla story in terms of what's happening in austin and berlin. in berlin, there's a massive bottleneck in terms of getting cars to europe, right now being produced in china getting shipped to europe. then you look at austin, besides headquarters, that's what i viewed could be ultimately double what we're seeing in fremont. you put it together this is now a company that has capacity for millions of units per year rather than hundreds of thousands. and ultimately that's why austin and berlin are the heart and lung to the supply thesis here. >> for years it was like we were tal

dan ives that wedbush saying flat out people have it wrong on the growth of these tech juggernauts. ben laidler reaffirms today his optimism as well on revenue growth not only in tech, but across all. it is an exceptional it up block hour. no other way to put it. lagarde at 8:30. michael mckee with america and the economic data. stay with us. this is bloomberg. ♪ laura: with the first word news, i'm laura wright. president biden is set to announce that there is an agreement on his economic agenda area bloomberg has learned president will announce that democrats have agreed on a framework of tax and spending proposals that he is optimistic congress can pass. he will go to capitol hill and brief house democrats on a deal. later, the president will speak at the white house. in taiwan, president tsai ing-wen says she has faith the u.s. would come to the island's defense if china tries to invade, a comment bound to annoy beijing. tsai told cnn the threat from china is increasing every day, and confirmed the presence of u.s. troops in taiwan. cnn says there are fewer than three dozen amer

the answer is everyone is working on short narratives, where dan ives is looking multiyear. maybe we could be multiyear on bank earnings today. jonathan: we will try and do that. about 43 minutes, lisa will run you through the day ahead. here is the price action as we kick off things this wednesday. we advance .2% on the s&p on the futures. we are positive by half of 1%. hero dog -- euro-dollar 1.1569. transitory is a dirty word, tom. 1.5664 on the 10-year. that curve is flatter. tom: the first thing i noticed this morning, jon, we are on the same wavelength, from washington to new york. 122 basis points. i'm sorry, it really matters, jon, that the zeal to extend, pushing against the gloom. lisa: i don't want to call it stagflation, because that is a dirty word, but i will call it slugflation. it will slow growth going forward, a la apple, slowing production. today at 8:30 a.m., i am fascinated by the u.s. consumer price index data coming out. the expectation broadly is for 5.3% year-over-year increase. bloomberg economics expected to rise to the highest level, 54 -- 5.4% si

dan ives is saying if you look at the nasdaq it's 5% from its record high sitting at what? 14, 694. he thinks it goes to 16k by the end of the year. >> yeah, i'm not in that camp but i am bullish to get back to the all-time highs that we saw just recently by the end of the year, and just as an aside. i literally just had lunch with a very high-ranking house of representatives official that is in the midst of all of this here , and the bottom line is, neither side of the aisle wants to give in. neither side of the aisle wants to give a win to the other side; however, they both understand how important it is for the efficacy of the u.s. government, for the world to know that the u.s. government is not going to default and that our debt is not going to default, so yes, politics, unfortunately, play a part in this. it is getting kicked down the road. at the end of the day i believe the market absorbs this and we go higher. lauren: yeah but there's that whole song and dance, and that political drama that caused back in 2011 standard & poor's to downgrade our creditworthiness and we saw h

>> focus on the 2 trillion of spend. >> dan ives. thanks appreciate it. andrew >> okay.ead on "squawk box." senator richard blumenthal will be joining us on today's facebook hearing what lawmakers want to hear from the whistleblower frances hagan. plus texas senator ted cruz and charles evans fed in the next hour on "squawk," back after this do you stay down? or do you get up? [announcer] and this fight is a long way from over, leonard is coming back. ♪♪ ♪♪ ♪♪ since our beginning, we've looked to inspire and nurture each other by asking what's possible? what's possible when we connect? what's possible when we come together? when we open our hearts. when we grow together. after 50 years, we've learned that possible is just the beginning. what if you could have the perspective to see more? at morgan stanley, a global collective of thought leaders offers investors a broader view. ♪♪ we see companies protecting the bottom line by putting people first. we see a bright future, still hungry for the ingenuity of those ready for the next challenge. today, we are translating decad

iv of the constitution to tell the president that we are being invaded? >> matthew, i mean, that's the racist white replace theory that is out there. your reaction to dan patrick? >> well, he's my opponent, the cruel and craven dan patrick in this. i think it's so disturbing, but as you know, jonathan, incredibly dangerous. those were almost the exact same words that the mass shooter in el paso used we killed 20-plus people. almost the exact words he used in his manifesto as to why he went in and started shooting people. we are all sons, daughters, and grandsons of people who emigrated here. and many people celebrate who we are. dan patrick doesn't. dan patrick goes out of his way, time and time and time again to criticize that diversity and criticize that wholeness that we have as we unify as a community in texas. so if it was some nut on the side of the street saying this kind of stuff, we could pass them by and ignore them, but this is the lieutenant governor of texas. and for your viewers, the lieutenant governor of texas, unlike other lieutenant governors around the country, is incredibly powerful. they are elected separately from the governor, co