whether google breakup could actually happen and what it could mean for the stock, let's bring in gene munster. gene, so, what do you think, if there were announcement tomorrow that google would be broken up, what would the shares do? >> i think i'm leaning with steve on this. i think it's up probably 5% plus. i think this could unlock 20% of value, put the probability at low, call it 15%, that this ultimately, some variation of this happens, but to answer your question, is that i think the sum of the parts do unlock value here. this exercise is a well-traveled road, as you mentioned, and typically, we, with a company like this, i think that it's important to recognize that when things do get broken up, there's going to be a lot of agreements that will be quickly put in place that would be probably -- infuriate regulators, but the substance of how google functions would remain relatively unchanged, but again, this would unlock value. >> what do you think is the most likely scenario, in terms of how the broken up google would look, and if you could sort of overlap that with what is the format i

ed: deepwater asset management partner gene munster. thank you very much.ing is a snap. chairs falling after revenue for the quarter missed estimates. -- shares falling after revenue for the quarter missed estimates. joining us now is emarketer principal analyst jasmine enberg. you go back to the advertising-based business and where they did well and where they didn't, what was your conclusion? jasmine: it does feel like a big step back for snap, given all of the work it has been doing in overhauling its ad business. there were some positive signs in the report. we saw growth in the number of active advertisers. we saw that it was successfully able to diversify its revenue streams with snapchat plus, bringing in over $100 million in revenue. and there were some improvements in its direct response advertising business, which is what it has been focused on improving. the fact that brand advertising is still so much of a headwind for snap tells me that there is a lot more work to do within its direct response advertising business. both to get more advertisers

gene munster, thanks for being here. >> thank you. >>> it is just before 8:00 a.m." on cnbc. i'm joe kernen along with mike santoli and leslie picker. andrew and becky are off this morning. among today's top stories oil prices rising. traders looking at conflicts in the middle east including israel between hamas and israel and strikes in hezbollah over the weekend. >>> nasa deciding two astronauts will hitch a ride home on spacex's dragon ship instead of the doege starliner cakansas cat brought them to the international space station back in june. >>> and starliner returning empty. represent as black eye for boeing but a win for spacex. >>> ibm will shut down its research production. >>> and futures at this hour. s&p and dow implying to open higher, but barely. nasdaq implied to open down about 34 points. treasuries. let's take a look at the treasury complex as well this morning. got the ten year above 3.8. again, barely at this point. two year, 3.913%. meantime, fed chair jay powell's speech on friday in jackson hole seems to have helped restore wall street's faith

deep water asset management gene munster has been all over these calls. e's that talented, two calls at once. gene, what -- let's first start off with apple, because the traders here are making the point that we're not going to get much clarity in terms of the power of the upgrade cycle until possibly next year. so, what do we do with the results at this point? >> well, you have to kind of look at the guidance here and just want to emphasize that even though that's the reality, is that we're not going to know until next year how this a.i. plays into the power of the next cycle, the next two years, is investors are -- are hyper focused, an understatement, on anything they can glean in terms of what that looks like. so, when apple just gided for revenue to be up half a percent in september versus where the street's at, and earnings in line, some investors read that as a slight disappointment. and the reason is that they'll get that kind of captures two weeks of the new iphone revenue and those two weeks, doesn't sound like a lot of time, but probably 40% of

let's bring in gene munster, "fast money" friend. it's a good question. the numbers were good, the guidance were good, but apparently, the market wanted great, not just good. >> brian, i'm a big believer, when you start explaining your losing and i run the risk of explaining here today, so, my perspective was, i think the market is viewing this exactly like guy laid out. is that the incremental raises are getting less impressive. in fact, if you look at the guidance, it was up 2.5% from where the street was expecting for october. they guided up 5.2%, back when they guided the july quarter, so, you see that deceleration. but i think there's an important piece that can be missed here, which is -- it was very clear that blackwell shifted from the october to the january quarter. and very few analysts made any adjustments to their numbers as that was being rumored. so, if you look at the guidance on an apples to apples basis, and bring in the several billion in revenue that jensen outlined for the first quarter, when blackwell ramps, it's now in the january qu