wedbush managing director, senior equity analyst dan ives is with us. ut new orders for iphones but something happened. two sessions before the cpi yesterday, it was on fire. looked like it was ready to take off. what is going on? >> if i look at the weekend in terms of preorder activity, i say modestly, if significantly above i 13. that was a shock i think even to apple demand is strong. is was the pro model. higher asps, more revenue for apple. that was a surprise. the stock before yesterday was. charles: asp, average selling price, fatter margins, bigger bottom line. almost every day someone downgrades it. someone has a negative to say, story out of taiwan t always has smaller headwinds. someone who followed this. you had great success. made people a lot of money with the strong. when you see these stories from time to time, what do you think? there is a big tug-of-war in my mind on the street, folks believe the megacap names like apple, lead the way more and more people are saying their day is done? >> we've heard that before. it comes down to the gr

dan ives of web bush.street still perplexed by the sudden death of bed bath and beyond ceo gustavo arnott. will his death make the stock offerings more complicated? charlie has breaking headlines on this next, don't miss it. closing bell about 13.5 minutes away. dow is wiggling a bit. up 83 points but off the high of a session a gain of about 202 points and we're coming right back. as a business owner, your bottom line is always top of mind. so start saving by switching to the mobile service designed for small business: comcast business mobile. flexible data plans mean you can get unlimited data or pay by the gig. all on the most reliable 5g network. with no line activation fees or term contracts. saving you up to $500 a year. and it's only available to comcast business internet customers. so boost your bottom line by switching today. comcast business. powering possibilities. ™ municipal bonds don't usually get the media coverage the stock market does. in fact, most people don't find them all that exciting

dan ives, as managing director for equity research at wed bush security. thank you very much for joining us, dan. apple has seen record profits and sales over the past couple of years. it's bucking the trend of slowing for smartphones sales. but with fears of recessions and rich economies, consumers tightened their belts. even the idea of i phone saturation, the device is so popular. what does all this mean for apple? also resolved between the 2, i from 1314, almost sworn did 55 and or 1000000 i phones. it speaks to ultimately they are in a pent up demand cycle and them not raising prices was a shock, but it just shows them further flexing their muscles in the supply chain craziness . so it seems to be that apple needs to go more in the direction of squeezing revenues from existing customers through software and services, and they are already positioning themselves in that direction. so how can they maximize their potential revenue? this book services business here as you point out in service is going to be in 90 billing in the our revenue stream annually w

i spoke to dan ives, managing director of equity research, wed bush securities. and i asked him what all of these problems mean for apple? it speaks to alternately, they're in a pent up demand cycle and them not raising prices was a shock, but it just shows them further questioning their muscles in the supply chain crashes. so it seems to be that apple is to go more in the direction of squeezing revenues from existing customers through software and services, and they're already positioning themselves in that direction. so how can they maximize their potential revenue? that book services business, you know, as you point out, i'm in service is going to be a $90000000000.00 revenue stream. and you know, be over 100000000000 jewel gallon 18 months. you know, i think that from evaluation perspective is actually worth 1.2 to 1.4 trillion. that's a big reason. the stocks don't where that. but if you look at the install base, they're still only 1520 percent penetrated, and they have an unparalleled install base in terms of monetizing. and it goes back to 99 percent of ap

dan ives is here. good morning, dan.y question to you, you're the tech guru, is there any area of safety during this very volatile time? >> yeah, look, enterprise software, specifically cybersecurity, those will be pockets of strength because even though we're seeing a slower growth environment, names like microsoft, oracle, sales force, cybersecurity names like palo alto, z scale and others, you're not really going to see a deceleration of growth. those are pockets of safety names to play some of the storms we're seeing. i do believe you look onto the other side of the dark storm, those are the names. risk reward is massively compelling and that's how we'd navigate the storm. ashley: what about names like apple? they just released their iphone 14. i mean, at the price they're at, is it a good deal? high interest rates hurts corporate profits but it's a different animal. it's at 153 right now, dan. is that a good price to get in? >> apple is our favorite tech name because i continue to view it and i can just from our tra

muscles coming out with all these new products despite the unprecedented supply chain issues >> dan ives, big fan of apple, thank you very much. mike santoli, we'll see you later. >>> up next, the ipo market and tech sector with michael mignano. find out which companies he's targeting straight ahead the dow up 465, again, at the highs of the day pretty broad rally with every sector positive except for energy you're watching "closing bell" on cnbc. power e*trade's award-winning trading app makes trading easier. with its customizable options chain, easy-to-use tools, and paper trading to help sharpen your skills, you can stay on top of the market from wherever you are. power e*trade's easy-to-use tools make complex trading less complicated. custom scans help you find new trading opportunities. while an earnings tool helps you plan your trades and stay on top of the market. >>> venture capital firm lightspeed is making a big bet in new york city opening a new office here in part because of growing sectors like fintech and crypto and a new partner for their consumer team. michael mignano joi

we what are you need is charging stations, dan ives likes it and they reported and are up 19%.lls fargo like it. they are built for this type of environment, budgets are tightening and they want to cut costs. $183 is 225. stuart: what is with caterpillar? the top performer of the dow 30. stuart: construction and mining equipmentmaker, we just settled an inquiry that settled 9 years including no penalties. stuart: they are settled, no penalties, stocks off 3%. >> investors say that overhang. >> as soon as they read the word subtle stocks are up. what is happening with peloton? >> they are going to $24, given by rating, all these actions getting rid of the white gloves, raising sub prices, living with a manufacturer are catalysts to key inflection took a positive cash flow. stuart: we shall see. you never got peloton. . i need to work out in a class where people look at and i show up. otherwise i will slack but i do own a home. stuart: expecting all of this. lauren: i have to be in the middle of the class. stuart: we try to be entertaining on this show. lauren: no one cares about

dan ives says he picks palo alto all the time. stuart: he does.rsecurity over and over and we should ask if blackberry is included in that. stuart: bring him back. look at the market overall, the big board up 30 points at 29 , 173. lauren: the dow was up 37,000 nearly back in january. stuart: right. lauren: that's a lot of thousands of points coming down. stuart: 29 grand. dow winners amgen at the top, merck, caterpillar, s&p 500 winners biogen of course with this alzheimers drug or treatment whatever you want to call it, up 42%. newmont gold up 3%. nasdaq winners again biogen is at the top, netflix is up 3%, ve rtex, charter communications on the upside. the 10 year treasury, watch this yield, it's now at 3.82%, all over the place today, as i was saying earlier, at one point today it was at 4.05 now it's 3.81. price of gold 1,653 up a bit today. bitcoin is at 19, 100. the price of oil still well, no, a little below 80 bucks, 79.42 on oil. nat gas coming down to 6.62 the average price for a gallon of regular gas on the upside again, yeah, it went

we had dan niles , i'm sorry dan ives of wedbush just a week or two ago and he was saying exactly whatthat you interviewed just said, susan , which was the fact that they didn't raise the price will make it very attractive to more people. reporter: and dan ives says he expectses 90 million of these handsets to ship before the holiday period, or over the holiday period. that sounds pretty bullish so from what i've seen and spoken to a lot of the apple fans out here, they are eager to start buying, regardless of the high inflationary environment. liz: i'm just looking, susan, thank you. i'm just looking at the apple intraday i don't know if we can put this up. apple at the lows of the session , $148 per share, we're backup to about $151 a share and by the way, we are at the session highs right now, even though we're still down just about eight-tenths of a percent so a little bit of a comeback here with about 38 minutes left to trade. apple's product launch today, coinsides with this. it is just 100 days before christmas. don't get mad at me for telling you that. fedex already played grin

so what does this partnership mean let's bring in dan ives. say this is a step in the right direction for meta, but everything we just heard kind of says maybe the opposite. is this evidence that meta is still depending on qualcomm technology and union lining its shortcomings >> it's a step in the right direction, but a constant battle not being exclusive is significant. this is contrary to what apple, google and everyone else is doing with their own chips i think it shows weak hands for meta, and what will be a battle in terms of this ar/vr headset >> what does it say, qualcomm not prepared to give them the exclusivity. what do you think facebook gave up here? for qualcomm, they're not going to bet on that horse there's a lot more questions than answers right now formeta, inside the lab, the fact they can't build their own chips, they had to go to qualcomm qualcomm definitely comes on the looking better meta, this just reinforces the street's view, that the meta strategy has a lot of challenges ahead. we know nvidia is the big play on a.i., m

and dan ives, he's also here, on worries about apple ace iphone production we'll talk to him abou

web bush analyst dan ives joining us the day after the big apple event telling you it was going to happente in his sunday note that consumers are lining up for the new products and project 90 million orders will be placed and apple popping 3.8%, $163.34. can i check the market cap, 2.6 trillion. below 3 trillion. shipping and railroad stocks. you need them to move all the stuff you guys are buying all over the place. slightly higher at this hour. fedex, ups, xpo logistics, canadian pacific, union pacifics, yeah, the railroads could all change this week as 57,000 railroad workers threaten to go on strike and could deliver a huge shock to the supply chain and cause more headaches for shippers. get the scoop from jeff locke there at csx rail yard in philadelphia. jeff, tell me what this is about. >> reporter: it's, you know, sometimes they say when they say it's not about money, it's about money. well, this is believe it or not not about money. it's about work rules. i'm at csx yards and maybe you see a couple idling locomotives behind me and on friday if this comes to a screeching halt, loo

dan, it's great to see you. daniel ives joining us this morning on big tech.viewing the all-female wrestling promotion coming to your tv this fall. that's when we come right back. stay with us. ♪ i would do anything for love. ♪ and you know it's true and that's a fact. ♪ i would do anything for love.r ♪ *9 big promises. small promises. cuddly shaped promises. each with a time and a place they've been promised to be. and the people of old dominion never turn away a promise. or over promise. or make an empty promise. we keep them. a promise is everything to old dominion, because it means everything to you. businesses have to find new ways to compete in order to thrive in an ever-changing market. the right relationship with a bank who understands your industry, as well as the local markets where you do business, can help lay a solid foundation for the future. pnc provides the resources of one of the nation's largest banks and local leaders with a focus on customized insights to help your business achieve its goals. that's how we make a difference. ♪ ♪ here goes n

a few hours from now we'll be live again from delivering alpha today we have josh brown with us dan iveshat it means for the stock. tina williams founded a $17 billion hedge fund talk to her about the current environment, where she is trying to deliver alpha these days. and we'll have highlights from my conversation with citadel's ken griffin. i'll sit down with him in just about an hour's time and we'll br bring you some of the highlights from what he has to say as well. >> let's stick with lowe's one of the things you're going to see is a lot of demand, unfortunately, over the next couple of weeks, just with the hurricane. and where earnings have been a little bit zpred, you'll have that back. it will kind of help the stock >> you even think if obviously home prices are coming down, mortgage rates are going up. a lot of people did the work on their houses during the pandemic you still think there's a cycle to go with that? >> you always have continual cycles to do in terms of repair maintenance of the houses as well and i think as materials, and we've seen lumber come down, we've seen

here is whether qualcomm can help meta bring down the cost of its hardware and drive adoption of vr dan ives tells us meta needs all the help it can get on this virtual reality strategy with apple set to release its new apple glass in 2023. qualcomm is a good step forward and solidified its stance on the market but this is clearly a defensive play versus apple. ives also saying that it's, quote, very concerning that these chips are not exclusive. he says qualcomm is hedging their bets and making sure meta is not their sole partner device >> got to have volume. one way or the other julia, thanks. >>> buying the dip this morning, initiating a buy along with crowdstrike and palo alto at neutral. the names were oversold, given respective market dominance and that demand can only go up from here 'rba ia ment this is doubling production without doubling headcount. this is connecting all your team with a shared point of view. this is the system you built moving from concept to customer. this is how. airtable. - [narrator] the future. the way you see it is said to depend on where you sit. at x-chair

lauren: i got dan ives said yesterday on this show that iphone 14 demand is beating 13 demand betweenready mentioned they are going to ship around 90 million handsets over the holidays and these are by the way 90% are the high end pro-max where they make most of their margins from. stuart: and which you bought. okay, susan. >> two actually. stuart: i know that, i know we'll see you in a couple hours. >> [laughter] stuart: come back soon. now then, let's check that big board. we've been in business for what, six and a half minutes and we're down now 352. dow winners, are there any dow winners, of the 30 stocks in the dow there's one winner, as in going up in price, and that's home depot, walmart mcdonald's down. s&p 500 winners, pizza operation , right at the top there. home depot aon, any dell it, moderna, and nasdaq winners i don't know that top one, some laboratory. i don't know any of those names except for illumina corporation. you going to tell me what they do? >> i think that they do the lasers for self-driving cars i believe. stuart: okay, nicely put your mic back on very good.

it starts at $799, dan ives says a quarter of iphone users, haven't upgraded in three and a half years this statistic blew my mind. morgan stanley says the wait times, the lead times are very long for the 14 pro max that's like the most expensive one, the longest lead time of any model in the last six years, apple is, i'm saying this , recession-resistant. stuart: so that demand for that, the top of the line iphone 14 -- lauren: huge. stuart: a very heavy demand. that's what people want. that's where there's a long lead time. sorry. lauren: typically the case with iphones, with apple tech knowledge, they have the products people held on to for three and a half years. stuart: show me ubiquitouser please because i know they were hacked yesterday the stock is down 6% back to 30 bucks were there any consequences or what happened? so they were hacked. what services were down or whatever? lauren: no, none of that. the consequence is trust, and maybe an investigation. i'll get into that in a second. so a hacker that goes by the name tea pot basically tricked an employee to get access to uber'

what are they doing on pricing asps and something a lot of things analysts are washing, web bush's dan ives a 114% price bump to the 14 because they're dealing with inflation and some of the cost pressures as well. but to your point, can they pull that off now in a time where the economic environment may be weak weakening? >> yeah. also you could argue they've tried to educate the street really over a number of years now that asps aren't the end-all be-all they were a decade ago, that it's a lot more about subscription revenue and services revenue one thing we are unlikely to get if you read the trade press is some kind of ar/vr headset the street kind of got ahead of itself hoping that was coming this fall earlier in the sum eshs but we'll see cook is speaking at code today and they'll discuss in large part the legacy of steve jobs with jony ive and lauren powell, david. maybe there's a way to incorporate jobs' pretty much unparalleled ability to create surprises in today's event >> that's going to be a good event. very interesting conversation i'm sure >> watch pro people watching the wat

pushback from some of the big bulls on apple, some of the big analysts that are out there i see dan ivest webush this means much higher asps, that's average selling prices, and a clear tailwind for apple into fy23 at this pace so the bulls are still out there. the question is, what are they willing to pay for it? and apple's down about $4. s&p 500, well see if we can hold up here, down six days in a row. that is a fairly rare occurrence it's only happened 20 other times since 1950 and for those of you who are worried about what it means, generally, you're higher a year later. 90% of the time, we're higher and up 20% on average one year later. my thanks to ryan for the tweet on that. just a little reminder for everybody about how quickly the market can move and how quickly it can repair i.t. the s.e.c. called out 15 majors firms yesterday, i'm talking about every one of them, including goldman-sachs and jpmorgan and morgan stanley, the s.e.c. fined them $1.1 billion, the cftt fined them $710 million collectively they uncovered what they call pervasive off-channel communications what does

dan ives will be an important conversation.t respected foreign policy magazine, really quite adept, i love their headline. liz truss is making britain look like argentijoining us is guy j. how close is luncheon -- london to bring us aris? >> i think we did take a step back with this. as john said, this is a confusing picture. i think the bank is adding to the confusion this morning. the market reaction speaks to that confusion as well. look at what is happening at the long and. you are getting a big move there. the three year interest rate is in front of me. i get the average. this is what mortgages are priced off of. it is incredibly elevated. the pound is not moving lower. you can argue this is negative, and therefore it continues along the track of positive inflation which is ultimately what the bank needs to deal with. it is talking about disorderly conditions. it is the tightening of financial conditions, but at tightening is in many ways still existing after this. three year went down briefly and came up, but even over th

billion deal you'll hear from the whistleblower, we're going to go to trial still in october, and then dan iveshen and he's still putting the price target of $50 for twitter so he thinks there's going to be some sort of buyout at some point. stuart: he said it on this program last week. >> well he put on a note this morning as well. stuart: okay. now, let's look at, we're going to move on after two minutes worth of that. disney. this act it vest investor, was pushing disney, to sell espn but he changed his mind, why? >> well i think he's looking at the probably the stats inside at espn. also he's probably spoken to disney executives. in fact if you read that article that came up this weekend, it looks like bob chapek, says he's had regular conversations with dan lobe, a third point so they are backing off the push to spin-out espn, because he thinks there's more value. now, i would argue, if you look at this tweet, i think lobe says it very clearly. he says that we have a better understanding of espn's potential as a standalone business, a vertical to reach a global audience to generate ad and

richard ive die dan was sentenced to 17 years for a family-run scheme that fraud lently obtained tensf millions of dollars in taxpayer money. rapper fontrell antonio baines, aka nuke bizzle, even bragged about his covid unemployment fraud ring in a song. ♪ i got rich off of eed snoet. >> reporter: before pleading guilty to federal fraud charges. the justice department has already seized about $1.3 billion in relief funds that criminals tried to steal, but, norah, they are still -- investigators are going after $8 billion. >> such a brazen fraud case. all right. jeff pegues, thank you. >>> well, the ongoing immigration battle between republican governors and the white house intensified today with word that a plane carrying migrants was to an airport near president biden's vacation home in delaware. here's cbs's manuel bojorquez. >> reporter: officials in delaware scrambled to prepare for a possible flight with asylum seekers headed to an airport near president biden's beach house that so far hasn't arrived. it's the same plane that carried 48 migrants to martha's vineyard last week, pr

dan: have a great weekend. >> lou: from hollywood, it's "jimmy kimmel live." with guest host desus nice! tonight -- jerrod carmichael, jeanie buss, and music from grace ives! with cleto and the cletones! and now, desus nice! [ cheers and applause ] ♪ >> desus: what's up! [ cheers and applause ] let's go, let's go! i see you up top. i see you. keep it going. i can't hear you. [ cheers and applause ]

dan: have a great weekend. >> lou: from hollywood, it's "jimmy kimmel live." with guest host desus nice! tonight -- jerrod carmichael, jeanie buss, and music from grace ives!th cleto and the cletones! and now, desus nice! [ cheers and applause ] ♪ >> desus: what's up! [ cheers and applause ] let's go, let's go! i see you up top. i see you. keep it going. i can't hear you. [ cheers and applause ]

dan: have a great weekend. >> lou: from hollywood, it's "jimmy kimmel live." with guest host desus nice! tonight -- jerrod carmichael, jeanie buss, and music from grace ives! with cleto and the cletones! and now, desus nice! [ cheers and applause ] ♪ >> desus: what's up! [ cheers and applause ] let's go, let's go! i see you up top. i see you. keep it going. i can't hear you. [ cheers and applause ] yes! yes. that's what i'm talking about. yo, welcome to "jimmy kimmel live." i'm your guest host, desus nice. [ cheers and applause ] that's desus like jesus, and nice like -- jesus. [ laughter ] anyway, i'm here to talk to you guys about our lord and savior. beyonce. [ laughter ] [ cheers ] i'm from the bronx. shout out to the bx. [ cheers ] the bronx is the place white people wind up when they miss their subway stops. [ laughter ] listen, i have to say guillermo's been making me feel at home. what's up, my man? >> guillermo: how are you doing, man? you're doing a great job. >> desus: thank you, brother. [ cheers and applause ] >> guillermo: i love that jacket. yeah, you look amazing. yeah! [ cheers and applause ] >> desus: thank you. i love guillermo. he remin