dan ives speaking to me earlier.'s turn to golf and the mega merger between the pga tour and the saudi—run liv golf. we do not know how much of the deal is worth but expected to be in the billions of dollars. us lawmakers have raised concerns about saudi arabia trying to improve its image through international spot. samira hussain has more from new york. the decision rocked the world of golf. two bitter rivals, saudi—backed liv golf and the us pga tourjoining forces. now although there is only an agreement in principle, the details still need to be ironed out, lawmakers on capitol hill have concerns about the merger. saying it is merely a way for saudi arabia to improve its reputation as it faces criticism on its records on human rights, women's rights and the rights of the lbgtq community. pga board member, jimmy dunn, said the deal was necessary to preserve the game of golf. some players had left the _ some players had left the pga tour to joint some players had left the pga tour tojoint liv, others _ the pga tour

exchange," getting set for amazon and apple with the bag evi -- biggest week of earnings season dan ives the house. >>> and the top two states to retire in is delaware. bank rate says light tax burden helps its case at number two we have more "worldwide exchange" after the break and the top state for retirees coming up after this like dynamig and risk-reward analysis help make trading feel effortless. and its customizable scans with social sentiment help you find and unlock opportunities in the market. e*trade from morgan stanley. [phone: starting route.] technology helps us navigate to work. [phone: go straight.] but, to navigate the complexities of modern work... [phone: turn left.] ...you need more than technology. you need cdw. [phone: you have arrived.] so we'll implement cloud based microsoft modern work solutions like microsoft 365, teams and azure, so your teams can collaborate with zero trust security anywhere. [phone: destination ahead.] microsoft makes modern work possible. cdw makes it powerful. >>> it is 5:30 a.m. in the new york city area there is more ahead on "worldwide e

and tesla both hit in overtime and we'll get you set before the numbers hit with alex cantor and dan ives and first with 60 minutes to go now in regulation and more gains for stocks today there it is, green across the board. the s&p 500 sitting just above 5% away from new all-time highs. the dow working on its eighth consecutive day of gains getting help today from verizon and goldman, salesforce and cisco. it's been up and down for the nasdaq ahead of those earnings and we're waiting for apple and it is mostly higher on a.i.-related headlines and not quite as strong as it was when they hit and nonetheless, it is green and it takes us to "the talk of the tape." first, though, big technologies. alex cantorwits is with me at post 9 and also a cnbc contributor. good to have you i love when these earnings start coming down especially the marquee names. what do you look for here? >> the good news is netflix will have subscriber growth, it's a completely sea change from what happened last year from when it was contracting sub screeners. the story for netflix when it comes above or a little belo

dan ives will discuss which companies are moving the market.on is complete balanced nutrition. together we provide nutrients to support immune, muscle, bone, and heart health. yaaay! woo hoo! ensure with 25 vitamins and minerals and ensure complete with 30 grams of protein. ♪ . >>> roman's numeral is 257. hopper says that u.s. domestic flights average $258 round drip, that is down is 1% from last year. and compared to international flights, they are up 8%. and a lot of international travel demand. >>> markets around the world, bank of japan hinted that it would be open to raising interest rates if inflation remains persistent. europe is mixed. and on wall street stock index futures are leaning higher. dow snapped a 13 day winning streak. s&p and nasdaq also finishing lower. the u.s. economy grew stronger than expect in the the second quarter, 2.4%. that is resilience. and gas prices rose two cents overnight. >>> and big week for tech. microsoft and google earns better than expected. let's bring in dan ives from web bush securities. nice to see

as tech analyst dan ives explained, microsoft's moves could increase its cloud revenue annually by 20%2025. the software's giant share price rose around 4% to an all—time high on the news. michelle fleury in new york. this week, the team at bbc news is taking a closer look at al, and how already it affects our lives and how it will impact our futures. today, we are focusing on how advertising companies are relying on this technology, using machines to speed up and enhance creative processes. they are also embracing controversial "deep fakes", digitally altering videos of celebrities to make them do or say anything. now, this has been a key issue in the ongoing hollywood actors strike. our asia business correspondent nick marsh reports from singapore. sports car in space. a car company wants an advert. normally this kind of thing would take weeks. now it takes minutes. two heads may be better than one but they never mentioned artificial intelligence. you have an idea, you type it, and there it is. we just can create new things we never thought we could create before, and much faster. th

you can pick apart with the netflix on guidance, with tesla on potential price cuts coming even dan iveswedbush and i know he's bullish on tesla, he raised his target today and said this is the trough on auto margins. >> i would say long-term story is unchanged for both of them. if you loved them before, you probably still are sticking with them it is the context. it's a test of how far markets have run into this you see things like microsoft back off as well even though they got a price target increase it's a little bit of a challenge to people who felt like up was going to be up every day, and now we're just getting a two-way mark >> we're in earnings mode, clearly, and trying to read all the signals from the economy it really does depend what industry you're in if you're in casinos or airlines, it's great videos, electronics, more challenging, potentially as far as the macro data, another drop in jobless claims, which i always look at that is not a lagging indicator, like some say unemployment numbers are. it's weekly numbers that don't show we have a big layoff problem in this countr

cheryl: dan ives made a really interesting comment last week about a.i.said this is revolution, the iphone revolution and this will change everything but for the investment perspective of that it is gated now is not going away and spreading everywhere. >> getting name out there right now attached to a.i. is certainly benefiting. it's always hard to judge and gauge valuation within the pocket of time, the stockings that we've seen across the board are really, really dramatic within a short period of time. i do think it's a pocket of time the probably last three, four, five, ten years, the question is what is the right entry point given how things have moved. cheryl: if you going to make dan ives argument the entry point is wherever were at today or tomorrow or the next day. we shall see. by the way, i know we need to run but i was also looking at a lot of analyst consensus that is not just the stocks that you want to look at you want to look at everything, healthcare, consumer staples, industrials, a.i. is going into everything it's not just a.i. play buyi

star tech analyst dan ives is out with his q2 te enicharngs forecast.ke a look ahead on closing bell. somebody would ask her something and she would just walk right past them. she didn't know they were talking to her. i just could not hear. i was hesitant to get the hearing aids because of my short hair. but nobody even sees them. our nearly invisible hearing aids are just one reason we've been the brand leader for over 75 years. when i finally could hear for the first time, i started crying. i could hear everything. call 1-800-miracle and schedule your free hearing evaluation today. >>> back to back games with the dow rebounding from its worst week since march. our next guest believes the barricades for stock are still building and have been since the end of last year when he first went back to his negative view. joining me once again, karen fitzgerald, welcome back. >> thank for having me. >> same guy, same view. you have not changed your negative view? >> sendai, same view. circumstances are ever changing every day, and our overall view remains very

steph, by the way, dan ives, one of the biggest tech bulls, suggests you have 12 to 15% more over the second half for some of these names, as somebody who is underweight the sector, how do you think about that call? >> i am underweight. >> he believes a new tech bum h bull market has begun to take shape. >> there's a place for technology, it's 18% of my portfolio. 35 is what my benchmark is the reason i have so much exposure, even though i'm under weight there are very powerful themes shannon mentioned a.i., cloud, data center, cyber security. i have a lot of exposure there, but you know also, i have been net net selling. >> trimming meta, for example. >> meta, broadcom, lam research but i have been adding to ibm which is cheap and has lagged and forty net, a new position for me, as has done nicely so far. i would just say is, step back i'm so encouraged that we're starting to see a broadening out in the market. >> modestly. >> not modestly. you're starting to see energy perk up, industrials perking up, materials, financials not going down anymore i mean, we'll have to see if this can

that didn't stop investors from seeing dollar signs, aztec al analyst dan ives explained, microsoft'sould increase its cloud revenue annually by 20% by 2025. the software's giant share price rose around 4% to an all—time high on the news. rose around 4% to an all-time high on the news.— high on the news. michelle fleury in — high on the news. michelle fleury in new _ high on the news. michelle fleury in new york. - high on the news. michelle fleury in new york. this i high on the news. michelle - fleury in new york. this week, the team at bbc news is taking a closer look at al, and how already it affects our lives and how it will impact our futures. today, we are focusing on how advertising companies are relying on this technology, using machines to speed up and enhance creative processes. they are also embracing controversial deep fakes, digitally altering videos of celebrities to make them do or say anything. now, this has been a key issue in the ongoing hollywood actors strike. our asia business correspondent nick marsh reports from singapore. nick marsh reports from singapore-— ni

we have had a dan ives market from the third week of october 2022. in october 2022 the rest of us did not see? dan: fundamentals that we are going to be a lot more stable, a lot of the skeptics thought -- what we are seeing specifically in cloud into enterprise and even when it comes to consumer, names like apple, we felt like the bark was worse than the bite. starting in the fall is when we started with ai research. in my opinion, it was going to be the biggest transformational trend we have seen in tech. that combo is where we are today. tom: we got the indices this morning, threads at critical mass. dan: it will be difficult to get critical mass. the name of the game for zuckerberg is further expanding instagram in terms of the cross sale opportunity, eventually advertising. they are trying to strike while the iron is hot. getting to scale will be difficult, but musk has an open opportunity. there's a lot of frustration building and i believe this is a drum roll to what will be the cage match this fall. jonathan: define critical mass, what is that

wedbush analyst dan ives writing that apple breaking the $3 trillion market cap level was a, quote, historicoment for tech. what's behind the rally in tech? part of it is the artificial intelly against frenzy. that's largely been driving the performance of chip makers like nvidia. a lot of this is growing confidence in the u.s. economy despite a year of interest rate hikes and inflation that at one point was at 40-year highs. friday marks the last trading day of the first half of 2023 and according to the spoke investment group marks the third best first half to a year in the nasdaq's history. rahel solomon, cnn, new york. >>> for the first time ever, astronomers have a new perspective of our galaxy. ghost particles or high energy particles can pass through stars, entire galaxies without changing its structure. an observe va tore ri introduced a newport trait of the milky way. the research is published in the journal "science." >>> united arab emirates has made numerous forays into space in recent years, from the first satellite launch in 2009 to the mars probe hope in 2021 and in april an a

. >> i want to point to dan ives, a note out from him today, saying he believes when it comes to aws, there's another $35 to $40 of ai spend for every $100 spent in recent years, 40% for some of these mega cap businesses if that's reality, which it could be, doesn't it change what the valuations of these companies are? >> something like over the next ten years ai is going to drive -- increase gdp by 30% it's 30% over ten years, isn't that much. you spread that out to companies like microsoft and amazon and even gilman hill will probably be a beneficiary you spread it out so broadly that i think what's happening right now it's jacked the valuations on the super obvious plays like nvidia and the money has come out of the nonobvious ai beneficiaries i think ai benefits society much more broadly >> the biggest benefit -- >> what is the increased growth by 1% or 2% over the next ten years? >> let's use numbers long term, this is the analyst cumulatively together project it will grow earnings at 12.5% trading at 30 times. i own microsoft. i own it at 4% well below the market weight. why? i

so, i find it fascinating that we're going to go up on these numbers, and we'll ask dan ives about that> they've also gone up on some of the charging news as well, which has been heavily debated as well. ives in the camp of, this is a game changer akin to aws other analysts are like, it's a plus >> not to say it's the wrong price for the stock. it's just funny to integrate the new volume news alongside how the stock has behaved. >> without knowing what the actual price of those cars are well, for more on tesla's quarterly deliveries, let's bring in phil lebeau, who has been digging deep into that one. >> you guys set it up perfectly. this is all, how do you look at this number? do you look at this and say, wow, way better than even the most bullish analysts were expecting a few days ago when you look at the numbers, yes, 466,000 is well above the consensus of 445,000, and we should point out, even the most bullish analysts were at 450,000, and as usual, the model s 3 and y were the bulk of the deliveries they are now about halfway towards their 2023 full-year delivery guidance of 1.8 mi

and tesla both hit in overtime and we'll get you set before the numbers hit with alex cantor and dan ives first with 60 minutes to go now in regulation and more gains for stocks today there it is, green across the board. the s&p 500 sitting just above 5% away from new all-time highs. the dow working on its eighth consecutive day of gains getting help tod

lauren: dan ives called it the messy of ai and big data company and up 8.5%. no news just the ai potential of giving this stock further life. david: close to 20% gain in two days? lauren: correct. david: unbelievable. lauren, thank you very much. san francisco is launching an investigation into twitter. or what was called twitter. neighbors complained about the new x logo shining on top of the headquarters at night. we'll explain that. it does look like a club. as if you weren't already paying enough democrats just introduced a new extreme wealth tax and meant to combat aristocracy. we have that story .x despite the blistering heat up to 5,000 people are crossing the border into texas every day. the scorching weather causing major safety issues for both the migrants and agents that have to save them. casey stege l has that report coming next. ♪ this is american infrastructure. megawatts of power, rails and open road, and essential services of every kind. all running on countless invisible networks, making it a prime target for cyberattacks. but the same ai-pow

ed: dan ives had a no out last week, call and palantir the lionel messi of ai. a 15 page report that sees them with an entrenchment that they want security in cloud customers. i have been to foundry and seen them demo it. there is intense interest. guy: thank you very much. this is bloomberg. ♪ y about things like changing tax rates or filing returns. avalarahhh ahhh ♪ alix: we are about an hour into u.s. trading session. not a lot of action. abigail is tracking some of these non-moves. abigail: the russell 2000, small caps up about 9/10 of 1%. moments ago, the s&p 500 began lower. we will watch and see how it flows. as for the month of july, we are looking at a big up week. last week was the third up week in a row. both the s&p 500 and nasdaq up more than 3% on the month. the s&p 500 up fully percent on the year. mastec, up more than 40% -- nasdaq up more than 40%. here we go in yellow, that is equal weighted s&p 500, really catching up. some of the breadth that investors wanted to see, up 11%. s&p 500, up 20%. the fang index, up 80%. fomo? i don't know. maybe

sarat, a similar call earlier this week from dan ives. the second time we're hearing this in a week >> they are a great company, firing on all cylinders. they've done everything right in terms of cloud and getting into ai we own it. we're underweight, quote, the index on it. i like the company but i wouldn't add to it at these levels you get a better opportunity it's one of the stocks that everybody has fallen in love with again pick your spot you want to own this for a long time but your market will come back on this one >> any concerns about valuation, amy? >> the stock is trading up 35 times, a richly valued company compared to its overall growth rate if you want to just take out cloud, but overall the company is not growing that fast and i think a lot of ai hype has been pulled forward into the valuation already. i agree with sarat >> big upside from where it's trading now at 340 >> it'll get there it's just a matter of when i think it's similar to apple, a stock you don't want to trade it you want to own it it approaches $3 trillion.

joining me now is dan ives from webbush. >> and i think it was just an overreaction to musk not committingare playing poker and it has been a home run success in terms of this cutting prices and what demand looks like. >> we've seen other ev makers cutting prices too. what is going on there, are they trying to generate demand? >> it is tesla's world and everyone else is paying rent. they are squeezing prices across the board. but you are seeing the green tidal wave happen across the board. that is why in the 313 area code you are seeing ford, eventually it will be gm, cutting prices. but i believe this is the start of just the transformation toward evs with tesla leading. >> a lot of factors at play here. you tweeted we view tesla where apple was in the 2008/2009 period even raising the price target to $350. that is pretty bullish. >> i think this just early innings. get out the popcorn to what i view as really a three, four, five year run for tesla. because ultimately if you look right now, it is about battery technology, super charger that they are starting to monetize and the drum roll,

. >> classic dan ives, right >> always looking for something, yes. >>> time for the technical take.t guest has been in the bullish camp isn't the end of last year. now his charts are telling him there's opportunity in one sector joining us, renaissance chairman jeff de graaf. the nasdaq leading year-to-date and also in today's session. what are you seeing? >> the trends are still positive we're going into a tough patch seasonally it's something to be cognizant of we've had a little shift in terms of sentiment i don't think sentiment is a problem but certainly the easy money phase, if there ever is such a thing, is probably behind us i think we consolidate it's something in the 3% to 5% kind of tapping the beat here and we move higher overall still very constructive. >> so, do we continue to see the broadening out of the markets we have been seeing of late >> i think so. the one thing that would change that would be an increase in triple beat spreads. if we start to see credit conditions deteriorate, which we haven't seen i think it's been the one area the bears missed the entire yea

lauren: it's dan ives of web bush. rivian finally got it act together.ring as promised. shareses up today, eight days of gains in a row. ashley: we talk all the time about evs, but they're still a very small percentage of the market. i mean, is that me just being pessimistic in are we all going to be in evs at some point here, david? >> no, we are not. and rivian in particular, it's really difficult when these guys lose so much money producing more cars. and each car they produce is a money loser. ashley: right. >> tesla just had a particular advantage that's really going to be halved to replicate. -- hard to replicate. ashley: let's talk about blackstone. >> that's one i haven't brought up lately stu has brought with it up, and yet i wanted to re-bring it up because, boy, i think they are prepped for big dividend growth. blackstone has had a great start to the year. right now a 4.3% dividend, but they have more than tripled the dividend since i bought it 10 years ago. we think blackstone is going to be a dividend grower in the years ahead. ashley: tell

powered by ai wedbush analyst dan ives says i will be transformational for the company. apple reach that 3 trillion dollar mark last week. 82% of hotels nationwide are found to be short-staffed to the american hotel. and lodging association says to combat the shortage they're offering higher wages, more flexible hours and expanded benefits, but they're still having trouble finding workers, especially housekeepers and california was the most impacted state overall when it comes to investment fraud, california ranks first for total money loss to 870 million. second for the average loss per victim of $176,000 and 5th for the highest rate of investment fraud with almost 13 cases per 100,000 residents. well, all age groups could be targeted, ages 30 to 49 are the most targeted for investment scams. all according to the carl's a law firm at a miami which specializes in investment fraud live from the nasdaq market site. i'm jane king all right. don't be fooled. that's the message. thank you, jay. >> 7.18 on the clock and we are learning more about what led up to the search of f

start with microsoft, morgan stanley raising its price target to $415 from $335 as wedbush's dan ives boom will push microsoft higher and be the next company to touch a $3 trillion valuation by early 2024 bank of america upgrading sweetgreen to buy from neutral citing the company's growing foot traffic, up more than 60% year to date watch affirm, piper sandler downgrading the stock to underweight. expects higher rates to pressure operating margins. >> ism services in jolts back to rick santelli. >> yes jolts out for the month of may expecting a number around 9, 900,000. a miss, 9, 824, 000. and last time we were anywhere near that number, we would have to go back to actually only march. march when it was 9 million 745,000. nonetheless it is a miss if you look at the five numbers for 2023 thus far, three below 10 million if we look for services side from ism, 53.9 the june read 50.3 in the rearview mirror. 53.9, the best level going back to february when it was 55.1 54.1 on prices paid and we all know this particular number f you're monitoring inflation, and its impact on fed decisions

expectations are high already because these the stock had amazing run-ups so far this year one out from dan ivesdbush, these are the beneficiaries the alphabets and microsofts, for 2024, a.i. could comprise up to 8 to 10% of overall i.t. budgets versus 1% in 2023. so the ramp is happening. >> the ramp is happening another question, of course, is at what expense? what do you cut back on? a pure 8% increase or do you actually reallocate? which is the case. >> for everybody else. >> yes. >> it feels like the market is giving permission to spend on a.i., nothing else if you're going to compromise margins on something, maybe a.i. budgets. what will be key to hear from microsoft and alphabet, they are exposed on the macro front, is a.i. offsetting that and in terms of what the companies are doing allocating more or like the semiconductors, is it going to be more cyclical story in the near term? those stocks mixed into earnings >> nvidia shares are up again 2.75%. in part we have sharing news from tsmc, the biggest manufacturer of nvidia designed chips. they'll just, you know, there's a shortage, basic

that is, of course, dan ives only he would write like that, raising his price target on tesla to 350sed even though the stock is down and the market is worried about more price cuts. why? >> i think investors are seeing the forest through the trees what's happening, we're seeing a stabilization from margin perspective beshgs than expected in terms of margins, units right now on the trajectory toward 2 million. this is the drum roll, super bowl, to now monetization of super charger and battery and charger, and fsd talking another oem because from an a.i. perspective is how i see tesla getting to 1.5 to 2 trillion. >> he said early days it's never clear he got no clarity on who it is or how far along or whether it may come to fruition. >> ultimately this is for musk i think ultimately this is really the first step of what's going to be a broader strategy because they've built it if you look at fsd - >> full self-driving. >> and i'll argue, that's a.i. i mean, it's basically a.i. for automakers you look at full self-driving, super chargers and ultimately now batteries, i think the story

wedbush on rivian, dan ives argues the story is finally coming around.ley's adam jonas upping targets on gm and ford, gm to 41 and ford to 16 on the yields of some of these sales numbers. the first half was pretty torrid >> absolutely, and it was about the pie getting bigger or at least bigger than expected so, it wasn't just about little market share back and forth between them it seems like, in aggregate, demand was strong. gm's numbers and their estimate for the annual sales pace has been a relief there. look at something like auto nation, you know, up 60% year to date, pretty much at a high, and if you look at, you know, again, it brings up the fed's slight conundrum, which is, the most rate sensitive parts of the economy, autos and home builders, have been impervious, because the scarcity and the demand story has been overrunning what's the rate effect has been so far so, good news, i think, in general. i mean, we should remember autos are the biggest manufacturing product and consumer product in the overall economy. so, very interesting that it's n

tom: if dan ives says there will be a pop in the margin, i think you get that. companies using technology to see an expansion in three to five years out for ai ako >> probably not. you need huge upfront investment in terms of building data centers and really aggravating a lot of data. you're talking about the whole internet and everybody is getting protective of their data. there will be a handful of claims, but the internet companies are well positioned. they have the most data. when you talk about companies that have digitized everything, they are looking to digitize, but they are still very new. jonathan: what is that? flex it is two fold. they want to retain her, but in terms of google looking to take stakes like they did, they cannot buy a company right now with the current set up. what microsoft did is they took a 10 million dollars stake early on. they already did that with anthropic. it's jonathan: so they are ultimately going to be big companies. >> the transformative model came up from google. it was a 2017 paper written by google employees. now we are