economy apple actually had a market cap of 2 trillion dollars on wednesday becoming the 1st publicly traded company in the us to hit that mark and of course it should be noted that just over 2 years it took just over 2 years for the company to double its valuation what do you make of this latest milestone so i think that apple hitting 2 trillion dollars is emblematic not just of the fact that they have they have a massive franchise they have a massive footprint they've created their own ecosystem if you will but it's also a reflection of the fact that the fed is going to continue to print $120000000000.00 a month the fed is actually buying apple bonds as if apple needs any help at all from the federal reserve i call that a travesty thank you very much but it's emblematic again of the fact that the federal reserve's monetary policy what they're doing right now is growing their balance sheet it continues to go to the largest players and increase the size of u.s. monopolies which does not by the way benefit main street in any way and we've seen that with i think the top 12 richest ameri

china was a huge part of our economy. appleical risk because it's so visible, but i think this is an issue throughout the economy. china has shown in the past a willingness to target its responses to trump's actions very strategically at places trump needs politically. you can imagine they have a lot of power right now to target red states either in agriculture or other things i don't want to pretend i know what's going to happen i'm very nervous about it. i think investors need to pay attention to, as i'm trying to >> guy, that brings us straight to the trade talks which are supposed to happen at least virtually sometime this week roger mentioned agriculture. china still has more than $100 billion worth of products they would need to buy in the second half of the year in order to be compliant with the phase one part of the trade deal. >> i want to be clear. i think there needed to be an administration that took on the chinese and this administration decided to do that i think many people would say correctly. my point has been

constituents are among those having the easiest time working in the pandemic because they're in the tech economy, apple and google, and other companies saying stay home until june so they can kind of swing it. there's other folks in the district who are the people who empty the garbage cans at google. >> exactly. >> or who work in the cafeteria at apple park who are not able to just stay home. so how are folks in your district doing right now? >> well, joshua, that is the most thoughtful understanding of my district. you're absolutely correct. on the one hand extraordinary wealth tech companies are doing great as more people are working virtually and we're becoming a more digitized economy. but it's just highlighted the digital divide, those who can work remotely are in some cases benefiting, but the bus drivers, food service workers and janitorial staff are not keeping up, this is why we need to have an essential workers bill of rights, treat them as employees, give them hazard pay and give them child care. the amazing thing is we can do this. we have four or five companies worth trillions dollars why

most about growth has happened since the start of the pen demick experts now estimate that if apple weren't economyit would be cost $5.00 as the 9th richest in the world my colleague in an o'neill asked economist edward hall and jeffrey tucker for their thoughts on apple's 2 trillion dollars valuation. does it seem as if some things are quite right when millions are losing their jobs or close to it on a tiny number getting insanely rich. that is exactly right and i have to correct language you say because of the pandemic it's because of the lockdowns all across the world and especially in the us governments have it been bankrupting small and be medium size businesses and forced closures and stay home orders and closing schools closing borders stopping travel it's been an outrage and of course who benefits it's the big companies especially the tech giants and the rich meanwhile in this country the the poor and the middle class are suffering and medium small businesses are going under because of the lockdowns not because of the pandemic obviously there's an end plenty of encouragement for companies l

apple which have received public funding. from their very get go and we really need to see far more diversity at the grassroots of the economy o to channel that kind of innovation and it seems that. large companies like apple once they reach a threshold like this they need a lot of public scrutiny to keep up with that kind of responsibility of being so large company a leg that needs to be under public scrutiny and to perform at a higher level and providing innovation rather than the monopolistic in their aims last month aapl along with google facebook amazon were questioned in the u.s. congress and were told they have quote too much power under a danger to the american economy have they become too powerful i don't want to blame apple and google and amazon so much as oh i just think the rules should be applied fairly and evenly to everyone so everyone has a chance to get to get big and wealthy and serve the community consumer to excellence but i think that's the most important thing and there's a that's the essence of what we mean by free enterprise it's supposed to be equal rules for everyone and that is not the situation tod

apple which have received public funding. from the very get go and we really need to see far more diversity at the grassroots of the economy toto channel that kind of innovation and it seems it. large companies like apple once they reach a threshold like this they need a lot of public scrutiny to keep up with that kind of responsibility of being so large company a leg that needs to be under public scrutiny and to perform at a higher level and providing innovation rather than at the monopolistic in their aims last month aapl along with google facebook almost on where question in the u.s. congress and we're told they have quote too much power under a danger to the american economy have they become too powerful i don't want to blame apple and google and amazon so much as i just think the rules should be applied fairly and evenly to everyone so everyone has a chance to get to get big and wealthy and serve the community the consumer to excellence but i think that's the most important thing and that's that's the essence of what we mean by free enterprise it's supposed to be equal rules for everyone and that is not the situation tod

apple add the e kwquival of exxon mobile on market basis. it's getting completely out of touch with the size of the economy and apple's role in it even globally. that's not to say it can't go higher because they are still going their capital return to share holders. they are still buying back stock. i hope they slow down but that's still part of the story here the cash generation of this company is still enormous. you really haveto go back and read about the south seas company to find anything this dominant >> it better not falter. it better not have a single mistake because then you risk having broader implications for the overall market >> totally agree with that i also agree with josh and everybody that spent time speaking today this is a story beyond apple it may be some time and volatility around those answers. it is concerning because when you look at facebook, apple, amazon, microsoft, alphabet, they're 22% of the market cap of the s&p 500. in a zero return world, you can get an earnings yield on the s&p 500, driven by these growth companies of 4.7%, depending on what your earnings are for 2021, it starts the look like the market may h

there are a lot of things that play in apple's favor. the economy is very split.tainly, this has been devastating to 10 or 15% of americans. but they are also in scenarios where we are seeing a great uptick in things like telehealth services, education, and more. so for some circumstances, there is more demand for technology devices and hardware than there was in the past due to the number of people accessing services remotely these days. emily: meantime, the dispute between epic games, a maker of fortnite, and apple, continuing to be in the spotlight. lots of hostile words flying back and forth last week. apple claimed in a court filing that epic wanted a special's ideal. epic claims that apple has been holding them hostage. who is on the right side here? julie: i think everyone is trying to do the best for their shareholders. apple is doing what is best for its shareholders. it started out to build this ecosystem and platform and put the rules in place 11, 12 years ago. it is possible to get around the app store. browserg them into the -like companies such as am

sit back to fix the health the economy the politics but especially the health and the economy of the cubans. apple and google dominate the multibillion dollar gaming market on smartphones but the u.s. tech giants are facing a legal battle with a developer that could drag on for years. it's. gaming is big business and with more than 350000000 players this game called for tonight is one of the most popular on the market while it's known for its virtual battles the company behind it epic games is now picking a fight with take giants apple and google setting the stage for a courtroom battle that if successful could have widespread ramifications. epic provoked the tech giants by deliberately violating rules installing its own payment system protesting the 30 percent cut apple in google's app stores take from all purchases both companies keep the game off their more bar marketplace's apple also cut off peaks developer tools but a judge ruled against it removing its other software system on real used by hundreds of other businesses if. the all you did about $17000000000.00 it came prepared to fight relea

apple which have received public funding. from their very get go and we really need to see far more diversity at the grassroots of the economy to channel that kind of innovation and it seems that. large companies like apple once they reach a threshold like this they need a lot of public scrutiny to keep up with that kind of responsibility of being so large company a leg that needs to be under public scrutiny and to perform at a higher level and providing innovation rather than the monopolistic in their aims last month aapl along with google facebook amazon were questioned in the u.s. congress and were told they have quote too much power under a danger to the american economy have they become too powerful i don't want to blame apple and google and amazon so much as oh i just think the rules should be applied fairly and evenly to everyone so everyone has a chance to get to get big and wealthy and serve the community consumer to excellence i think that's most important thing and there's a that's the essence of what we mean by free enterprise it's supposed to be equal rules for everyone and that is not the situation today people

apple which have received public funding. from their very get go and we really need to see far more diversity at the grassroots of the economy to to channel that kind of innovation and it seems that the large companies like apple once they reach a threshold like this they need a lot of public scrutiny to keep up with that kind of responsibility of being so large company like that needs to be under public scrutiny and to perform at a higher level and providing innovation rather than the monopolistic in their aims last month aapl along with google facebook amazon were questioned in the u.s. congress and were told they have quote too much power and are a danger to the american economy have they become too powerful i don't want to blame apple and google and amazon so much as i just think the rules should be applied fairly and evenly to everyone so everyone has a.

apple which have received public funding. from their very get go and we really need to see far more of diversity at the grassroots of the economy to to channel that kind of innovation and it seems that. large companies like apple once they reach a threshold like this they need a lot of public scrutiny to keep up with that kind of responsibility of being so large but the scale of a company like that they can take advantage of their resources monopolize and also more or less collude with public officials to give them more or less a different rule set to play with them just the general market a company like that needs to be under public scrutiny and to perform at a higher level and providing innovation rather than at the monopolistic in their aims. and so we you know as i say a symptom of how our economy operates and also just the motivations and the grassroots of every culture that there are such large companies that more or less can in a way stifle innovation when they get so large and jeffrey just on the issue of power last month aapl along with google facebook almost on were questioned in the u.s. congress and were told they h

economy. i worry aton in apple's case about china. and i do think we have to pay very close attention to what's going on with epic games and the fight over the app store because essentially apple has, i would think, the least anti-trust risk of the major tech platforms but it does have a real risk and the way it is handling it so far i think is at least politically speaking very fraught. and all those things make me very nervous i think apple can execute the business incredibly well here without investors getting paid because essentially we've been getting paid for so long that we shouldn't be surprised if the stock takes a pause here >> well, yeah. the register is ringing at 2 trillion right now, so some folks certainly have been getting paid roger, gene, thank you for being with us. >> thank you, jon. >> this hour. >>> there's more going on than just apple stock movements there's a lot still ahead on "squawk alley. ♪ ♪ hey you, yeah you. i opened a sofi money account and it was the first time that i realized i could be earning inter

apple which have received public funding . from their very get go and we really need to see far more diversity at the grassroots of the economy to to channel that kind of innovation and it seems that the large companies like apple once they reach a threshold like this they need a lot of public scrutiny to keep up with that kind of responsibility of being so large company a leg that needs to be under public scrutiny and to perform at a higher level and providing innovation rather than at the monopolistic in their aims last month aapl along with google facebook amazon were questioned in the u.s. congress and were told they have quote too much power under a danger to the american economy have they become too powerful i don't want to blame apple and google and amazon so much as i just think the rules should be applied fairly and evenly to everyone so everyone has a chance to get to get big and wealthy and serve the community consumer to excellence i think that's the most important thing and there's a that's the essence of what we mean by free enterprise it's supposed to be equal rules for everyone and that is not the situation tod

and then later, president trump apples to minnesota to give remarks on the economy. that's at 3 p.m. eastern here on c-span. >> former first lady michelle obama and bernie sanders addressed democratic national convention tonight's thread live eastern, livep.m. streaming and on demand at nc, or listen with the free c-span radio app. c-span, your unfiltered view of politics. you are watching c-span, your unfiltered view of government, created by america's public television companies. joining us, -- joining us, our first guest of the morning. -- is joining us from joining us is holly otterbein, with politico, a campaign reporter, joining us from philadelphia. good morning. guest: good morning. host: what would be the overall goal for the dnc? at the end of it, what do they hope to accomplish? guest: of course, joe biden right now is ahead in the polls. his main goal is to do no harm and present a message to the american people which the democrats have not really been able to do that well so far. joe biden has often been overshadowed, sometimes -- part of his campaign st

certainly, the covid-19 disaster helped the digital economy penetrate even further, but getting -- i mean, you look at amazon, appleall these companies benefiting so much. you didn't, you know, even netflix benefiting from the shutdown. you think this is long lasting? >> so, maria, i don't mean to be too extreme, but i think we're going through one of the greatest technology revolutions of all times. people talk about some of the big names, but if you go to artificial intelligence, cloud, virtualization of the world, data assimilation, look at companies like a ups that is using data and logistics or a company like a wal-mart, the way company are utilizing data to bring their cost structure down, to improve their lo gist ices, we are in the nays shent stages. apple, i think they gave the number $519 billion worth of application that is being utilized on their platform. so you think about all the bold, you know, how mobility working told, and i really think people are underestimating that maybe, you know, you're in not what is just the big parts of technology that maybe become more clear, but the secondary and tertia

deal and how will this affect tensions between the world's 2 largest economies plus the nasdaq has popped once again on news that applehas now claimed the title of the world's most valuable publicly traded company will break down what lies in store for the tech giant impact show today so let's dive right in. and we lead the program with one of the big a. tech stories of the year it appears to be playing out minute by minute microsoft confirmed monday that it is in talks to buy tick tock from chinese parent company bite day it's now this of course after u.s. president donald trump announced a plan to ban the app in the united states president trump spoke about the controversial situation monday afternoon. and said he can't be controlled for security reasons but in china too big too. invasive and it can't be and here's the deal i don't mind if there's microsoft or somebody has a big company secure company very very american company buy it they set a date of around september 15th at which point it's going to be out of business in the united states but of somebody whether it's microsoft or somebody else buys it that will

deal and how will this affect tensions between the world's 2 largest economies plus the nasdaq has popped once again on news that apple has now claimed the title of the world's most valuable publicly traded company will break down what lies in store for the tech giant impact show today philip.

deal and how will this affect tensions between the world's 2 largest economies plus the nasdaq has popped once again on news that apple has now claimed the title of the world's most valuable publicly traded company we'll break down what lies in store for the tech giant impact show today so let's dive right in. and we lead the program with one of the biggest tech stories of the year and it appears to be playing out minute by minute.

they have a cross platform game, and they have their own eco system and economy inside the game that rivals the power of app apple's app store at it's height >> tim sweeney is doing this very, very deliberately. if you follow tim on twitter or in general you know he has been on this campaign for quite some time, since before they started their own ecosystem, where they let developers opt into their fee system he feels that fortnite is large enough and scaled enough and that apple needs fortnite more than google needs apple. he wanted to be kicked out of the store so they could make this very public and so they could have a lawsuit so where does this end up? i think given the are scrutiny that apple is facing, and that apple is considered the good guy, and google is considered opportunistic, i think there is a very good chance that they will come back and reduce the fees and opt into something firm i guess i'm an internal optimist in hoping for that, but i think this is a pretty inexpensive way for both apple and google to say listen, listen, listen we heard you guys, we heard the developers, and we're going to dot

deal and how will this affect tensions between the world's 2 largest economies plus the nasdaq has popped once again on news that apple has now claimed the title of the world's most valuable publicly traded company. live in store for the tech giant.

deal and how will this affect tensions between the world's 2 largest economies plus the nasdaq has popped once again on news that apple has now claimed the title of the world's most valuable publicly traded company will break down what lies in store for the tech giant impact show today so let's dive right in. and we lead the program with one of the biggest tech stories of the year and it appears to be playing out minute by minute microsoft confirmed monday that it is in talks to buy tick tock from chinese parent company bite day it's now this of course after u.s. president donald trump announced a plan to ban the app in the united states president trump spoke about the controversial situation monday afternoon. and then. he can't be controlled for security reasons but in china too big too. invasive can be and here's the deal i don't mind if there's microsoft or somebody else a big company the security company very very american company by i set a date of around september 15th at which point. it's going to be out of business in the united states but if somebody whether it's microsoft or somebody else buys it that will b