dan ives covers tesla. alex, big technology founder and cnbc contributor. jason snipe of odyssey is also a cnbc contributor. he owns many of the tech names including netflix. we're going to lean on jason in a moment. but, alex, i begin with you. netflix has not traded well, to say the least. shares are down 12% in a month. what's the issue? >> i'm embarrassed because last quarter i was here and said it seemed like it was in a good place as far as valuation goes. it's subsequently dropped 26%. the big issue is the prospects of growth. i think there's been positive headlines around the fact the password sharing has happened and advertising is coming. they haven't delivered the results that make you believe they're sustainable long run. yes, password sharing has helped grow users after contraction but reports the advertising is just not going the way it hoped, a report on the information recently that said subscribers and the money coming in from advertising are about half what the company expected this year. >> people just don't want to watch netflix with ads

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and you can watch the full length interview with dan ives on the deed of the news youtube channel. and he has a reminder of our top story we have for you. the commission has unveiled a list of 4 sensitive technology areas as part of its attempt to de risk. it's relationship with china and other, other terry and regimes. you will examine whether trade and cutting edge microchips a power systems. quantum computing and genetic engineering represent a danger to the block. and that is our show conference colburn berlin, thanks for watching. have a successful the the kluge landfill in romania is raising a major stink. b e u has invested 40000000 euros in creating a modern waste management system. but where has the money gone? our porter searches for clues on a dirty task. focus on europe. next on d, w. and so the conflicts of the west to continue to do what needs to be done. strong was for my guesses, weight tomatoes for the image, and sure there's a lingering field, but somehow we can go back to some sort of stage of growth with russia that is not going to happen. the same thing happene

and you can watch the full length interview with dan ives on the deed of the news youtube channel. and he has a reminder of our top story we have for you. the commission has unveiled a list of for sensitive technology areas as part of its attempted the risk. it's relationship with china and other, other terry and regimes. you will examine whether trade and cutting edge microchips a power systems. quantum computing and genetic engineering represent a danger to the block and that is our show conference colburn. berlin, thanks for watching. have a successful the rug, the environment trends technology company is digitalization, stall, tops, new market, new media. the world is accelerating these the opportunities to try new things. take flights with d, w. 's, business magazine, made in germany next on d, w, the manuals engine. you're going to the 77 percent comes will i don't get and 65 full was while all those top 5 years, 3 reasons why 1115. we're here to help you make up your mind. we are here on please find your mind. so talk to you from campbell talk, fixed a new culture and in 15

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and you can watch the full length interview with dan ives on the dw use youtube channel. and here's a reminder of our top story we have for you. the commission has unveiled a list of 4 sensitive technology areas as part of its attempted the risk. it's relationship with china and other, other terry and regimes. you will examine whether trade and cutting edge microchips a power systems. quantum computing and genetic engineering represent a danger to the block. and that is our show conference colburn berlin, thanks for watching. have a successful the enter the conflict. so i worry about the will of the west to continue to do what needs to be done. strong was so my guess is wait today says for the supreme commander in europe, i mentioned sure that there is a lingering field, but somehow we can go back to some sort of spaces, clarifying to russia. that is not going to happen. the same thing happened. conflict next, on dw, and all that good side of the night. what about the weirdest responsibility? the project enlightenment in 45 minutes on the world in progress pop calls to ev

and you can watch the full length interview with dan ives on the dw use youtube channel. and he has a reminder of our top story we have for you. the commission has unveiled a list of for sensitive technology areas as part of its attempted the risk. it's relationship with china and other, other terry and regimes. you will examine whether trade and cutting edge microchips, a powered systems. quantum computing and genetic engineering represent a danger to the block, and that is our show compress. colburn. berlin, thanks for watching. have a successful the book. the environment trends. technologies come is digitalization, tops, new market, new media. the world is accelerating. sees the opportunity challenges to try new things. take flights with d, w. 's, business magazine, made into many next on d, w. the kluge landfill in romania is raising a major stink. b e u has invested 40000000 euros in creating a modern waste management system. but where has the money gone? our porter searches for clues, dirty task, focused on europe. in 60 minutes slot on d, w, he's got issues with a

dan ives, managing director and senior analyst of equities at wedbush securities.his is bloomberg. ♪ yvonne: it is the word of the day amongst our users, "qui nquinnial." it is the twice a decade financial work conference that gets underway in china and there are concerns both political as well as the economic trajectory. bloomberg economics expects monumental events, according to them, so there are guiding on key issues such as containing risks from the property rout and strapped local governments, and strengthening regulation. david: eric zhu was mumbling over the word of the day. [laughter] eric: i think it is from the editor who just wrote it. yvonne: [laughter] sounds more official if it is a word like "quinquinnial." david: is there enough substance in this fencing us? -- fanciness? eric: it is every five years, so it must be an important meeting. it is presumably should be the most high-level finance conference for the country, but this year what the situation would be quite different from the last meeting five years ago, so i think the key priority now is p

let's bring in dan ives with web bush securities. great tosee you. >> great to be here. >> very, very busy times. you don't even know which pieces to start with, and you've been quite clear about how bad you think this strike will be with the big three if they get that they are demanding. any way it a tesla also comes out a loser here because its workers demand more and it tries to unionize them or something to that effect? >> there's always been a fear of unions at it's. [ laughter ] i just see that as basically a minimal probability that will ever happen. tesla it's a win-win situation, because when you look at the big three, what's happening here, it's a debacle in detroit because ultimately this is going to be passed to the consumer when eventually they do get a deal and the ev strategy, i mean, this is a gut punch to what was built over the years, and that's really the frustration in this rubik's cube where i believe the uaw deal, if they took that, it would essentially impair the business models for the next decade. >> for the

and web bush securities' dan ives saying a mini disaster on the quarter.tle over $23 billion in sales for the quarter, up only 8% year-over-year. they missed estimates. one of the big issues was pricing was actually down year we over year, and when elon musk, ceo, was asked about it on the earnings call, he said higher interest rates, weak consumer can. the issue was that investors were kind of saying what east really the issue there. and then you had research and development spend, additional billions of dollars on that reality -- related to the cyber truck. >> tell us us more about the cyber truck, because people weren't excited about it, and it doesn't seem like beat 's -- wall street's excited about it either. >> the tesla was clear about this on the earnings call, ramping up capacity and production is going to take a while, so margins are going to remain hit as they invest in that, and the sales are not going to flow through for a while. >> is there any bull case on tesla? >> absolutely. when musk says higher interest rates, weak consumer, when musk t

and you did have an analyst wedbush securities, dan ives saying many disaster on the quarter. so what really went wrong? a little over $23 billion in sales for the quarter up only 8% year over year. they missed estimates. one of the big issues was pricing was actually down year over year. and when elon musk ceo was asked about it on the earnings call, he just said higher interest rates, weak consumer. the issue is that was that investors, investors were kind of saying what's really the issue there? and then you had research and development spend additional billions of dollars on that related to the cybertruck. all right. so tell us more about the cybertruck, because, you know, when pictures came out, people weren't excited about it. and it doesn't seem like wall street is excited about it either. well the issue is that and tesla was very clear about this on the earnings call, ramping up capacity and production for that cybertruck is going to take a while. so margins are going to remain hit as they invest in that. and the sales are not going to flow through for a while. so is t

>> i keep thinking of dan ives in ways he could only say.you look up the word disaster in the dictionary, there should be a link to this tesla conference call, but he still likes the long-term thesis. >>> we're getting news on the house speaker vote out of washington. emily wilkins has that for us. emily? >> hey, sara. there's a new plan. initially they were going to be voting on jordan again for speaker, but now jim jordan is throwing his support behind temporarily em poiring speaker pro tem patrick mchenry to pass legislation. we're told at this point mchenry will be empowered to pass things until january. there might be restrictions around that. republicans are meeting as we speak right now, trying to figure out exactly what the path forward is, how much support this has. i was talking to members as they were going into the room today. some said, hey, we still have concerns with the idea of temporarily empowering a speaker. they want to keep going with jordan. jordan himself said he's still going to run for speaker, he just needs more tim

dan ives, friend of the show, nothing to write home about in these numbers.he street will be left wanting more. he does note they are still committed to delivering 1.8 million overall vehicles for 2023. he does see momentum ahead. better days ahead as well is another way he put it for the next year of 2024. >> some of the estimates prior to last week were the 515 range and it got cut. factory down time in shanghai. >> tesla said that in the rel release. they said planned overhauls of the factories, which is something we announced and remain unchanged in the delivery numbers. tesla is down a little bit, maybe that's why we're not seeing a bigger decline there. it is interesting we're seeing a bounce today in apple and nvidia and meta and google and microsoft. that wasn't the story for september. especially with apple. >> tech is the only thing working at the moment with infotech green. fdx gets an upgrade today. susquehanna goes to positive. they go to 315. long-time opportunity they say in cost rationalization and much more favorable to fedex than they are to

and dan ives because he's plain out funny. where does he get that stuff? men's warehouse?> he gets it all over the place. >> that stuff is hard to find. i was at marshall's. it's hard to find. he understand the real game which is upgrade, downgrade, things like that. jonas correctly talks about how much you lose per red caribbean -- >> follows automobiles and comments constantly on evs. >> he's enjoyable and makes a lot of sense. this morning he talks about the legacy companies are going to have a hard time making these evs. that's in part because the choice that they have to make if they give the workers what they want is basically let's cut back -- >> the uaw has gm come back with a counteroffer. >> yes. whether we talk about writers strikes, kaiser permanente. >> potential very large strike in california. >> we have a lot of people who are just making ends meet. i think that's left out of the dialogue. now, why do i say this? i'm not supposed to talk too much about my jury duty, and i can't talk about the case. but when you listen about why people are getting called on

. >> when you hear the biggest bu bulls, like dan ives, really trash talk the conference call and there questions that investors wanted answered, about when the price cuts would end, what that's going to do to margins. it was in the numbers and it feels in the tone for tesla, and i think that's what has analysts continuing to weigh in negatively, though we haven't seen any downgrades of tesla. they still love it. they still love the long-term thesis. >> even though it's down 9% after three straight earnings prints, it's still up 21% over that whole time period. >> up 75% for the year. all relative, all in context, but we're going to be watching these big cap tech earnings next week that will set the tone for the markets and a lot of them on macro drivers as well. the google with a lot of international exposure, for instance. alphabet. same with microsoft. it will speak to, i think, enterprise demand, and that -- there continues to be questions about whether that can all hold up. >> another thing we'll talk about a lot, i think, is a.i., and when it comes to tesla, for example, they co

dan ives at wedbush says we're at the trough here when it comes to price cuts and the margins. >> stillprice points. that seems to be the bigger concern, lot of focus on globally what they're able to do market share-wise. netflix, for as much as it has been a very consensus, somewhat crowded call within the space, also some moderation of expectations after the cfo comments a few weeks ago, i guess it was, about slower start to the ad tier, and so it will be interesting to see. i think that stock is sort of come off the boil a little bit going into the numbers and gotten their expectations that might come in with 6 million net ads or something like that might be okay. so, we will see on that front. what they have to say about free cash flow, i think, been saying this about, going through these strikes in the media industry. if they're rethinking exactly how much they need to produce long-term to feed the streaming platforms and so, some of the commentary there could be interesting, although i do say, netflix, i think, gets maybe too much credit getting lumped in with the huge guys. it's

joining us this morning at post nine, dan iv, wedbush security analyst, cuts his target to 310, keeps. thanks for coming in. >> what about it made you say that? >> you look up disaster in the dictionary there would be a video of last night's conference call. the problem is the street wanted to get details, have the price cuts ended? where is the gross margin outlook. >> what does demand ultimately look into 2024? and instead, it was really musk put on his macro economist sort of hat and that's not what the street wanted. i think it was lack of details and ultimately a somber note for when he looks at cyber truck and the margin outlook, and the long-term thesis is there. no rose colored glasses. this is what i would call a disaster. >> would y expect anything different from a guy who runs a company whose goods are 90% financed? that's the automobile. >> yeah. now look, there's no doubt that that's something that has helped them and hurts him, but i think the big issue is really around the price cuts. as you've seen the price cuts, there was a view it would start to end by this point. u