some buying the lower cost iphone 13.alyst says he doesn't see the extended wait times pushing consumers to exit the apple ecos ecosystem, that is the concern he initially forecasted about $3 billion in iphone revenue to be pushed out from the december quarter to march he now sees that number increasing to $6 billion given the big plant in china is still not up to 100% back on line. julia. >> thanks so much. >>> our next guest saying he sees iphone pro lead times extending as supply chain issues persist but we're likely through the worse of it. he joins us now. he has a buy rating on the name. big picture here, what do you think the impact will be on the delays will shoppers trade down, wait for an iphone 14 any chance they'll switch to a competitor. >> thanks for having me on the show as we think about demand we're not expecting consumers to really switch out and move to a different platform think about evidence from iphone 12 or 13 cycles as well. typically supply days don't cause a consumer to delay or forfeit that pur

iphone 14 pro and iphone 14 promax, which are the higher end. in terms of 3 million worth or production cut for 90 million to 87 million, that's because of softer demand that has plagued those two lower iphone 4 teens from the beginning of their release. the iphone 14 pro and promax is a supply issue. as you mentioned at the top of the show, apple put out a warning discussing how their outlook for iphone units sold will be lower than anticipated because of the output at their foxconn facility for those two particular models in china, going mostly off-line during covert protocols. so clearly there is both a supply and demand issue depending on which models of the iphone 14 you are looking at. emily: how will this impact the company's outlook? you've reported about spending, tim cook said he would be more deliberate about spending and you have been getting granular in your reporting about what roles they plan to cut, what roles they plan to keep, how does this fit into apples pickle picture? mark: it seems pretty clear that revenue for the holiday

plant which produces about 70% of global iphone output, including the iphone 14 saw violent protestsy say for the technical error they described in worker pay which appeared to, at least in part, trigger those protests and fox con is offering $1,400, about, for departing recruits apple has sent in staff and it says that it's working with fox con to try to address some of the concerns of the employees there. but there are major concerns as to exactly how fox con will be able to meet its end of month deadline -- internal deadline, carl, to try to ensure that that facility is up and running. >> eunice, i'm curious to know your sense of apple's response we've been waiting for sort of statements i guess to be released but to what degree are they on the ground, working with authorities, and registering any kind of dissatisfaction, if, in fact, they are upset about this? >> reporter: well, all we know right now is that apple has sent a team there and they are on the ground they said they are working with fox con because they want to address some of these concerns of the workers there but fo

it makes 70% of the global iphone shipments including the iphone 14 models foxconn had said that itserror in worker pay which appeared to trigger those violent protests foxconn is offering $1,400 for new recruits that detpart and they say they're working with foxconn to meet the employees' demands. there have been plenty of questions at this point as to whether or not foxconn is going to meet its internal end of month goal to have that operation up and running now, another concern, of course, is how the tightening covid curves are affecting the overall economy because not only are they there, but they're in various cities including beijing. in beijing, there's been a bit of a pushback and we're starting to see more of a trend, something described as connected dragon tax and this is where residents are starting to organize because of these unofficial lockdowns and are signing pacts where they are agreeing to push back against government authorities that might be coming to their residences and saying that they're going to stay together and quarantine at home and stand by their infected

the iphone plant located in an area over there. helping us sort through all of it is juliette saly in singapore. >> the unconfirmed speculation that we could see a path to reopening is driving sentiment. you're still seeing pay up by about 1%. also, there is some trader speculation that if powell pushes back, that will trigger dollar strength. you do have a stronger yen today, up by .5%. these are the chinese shares listed in hong kong. they had their best to gain since march. let's look at the broader picture. yesterday we sell again at 5%. does that mean these investors that are buying into this rally are going to get burned? a lot of notes hitting the index. sustained momentum for this rally. we really need to see some concrete confirmation before we see this rally. dani: it just shows how negative or short this market is. they are able to see such a big sustained rally. thank you so much. juliette saly in singapore. let's look at some of the things we will be watching out for. we will have the latest figures on applications. a

i believe the iphone would be up year after year.rms of the zero covid shut down, that takes potentially 3% of iphone units. demand is not the issue. it continues to be supplied. that is the frustration in terms of what they are dealing with in china. lisa: you are not necessarily seeing people expect bigger margins. we are not hearing that perhaps apple will raise the price of the iphone 14 in response to the lack of supply. so, does this mean that apple and a lot of companies could have reached the end of how much they can offset some of these pressures with higher prices? dan: it's a great point. i also think it speaks to why within the four walls, why it is so important. i think that is what apple has done. it gives them more flexibility from the supply chain and a margin perspective. that is something that is playing out more and more. the narrative is the iphone 14 pro, despite storm clouds is seeing strength. despite what we see and what i call was a night mail in -- nightmare in the large-cap tech earnings season. tom: all th

is that the new iphone? yup, i just got the new iphone 14 with its amazing camera at t-mobile. wow!mobile, get four iphone 14's on us and four new lines for $25 bucks a line. >>> thousands of students are returning to the university of idaho's campus today, even though a killer remains on the loose. it has been two weeks since four university of idaho students were killed. police have not yet made an arrest. they have not yet named a suspect. they have not yet, as far as we know, found the weapon. cnn's veronica miracle is live for us. what's being done to address any safety concerns that students might have? >> reporter: well, jake, for those returning back to campus today, there is a heavy police presence, whether it's hired security or patrol officers. they're just trying to make students feel a little more comfortable. the university of idaho is allowing students to stay home for the rest of the semester. there's two weeks left of classes, so students can learn virtually. they're not tracking how many students have stayed at home so far. they're letting them come and go as they

14 nearly all iphones are made in china. let's talk more about this with sophie lund-yates. so sophie, you heard eunice's report this is a key part of the world for apple. does this mean apple is possibly doomed to a supply constrained holiday shopping season? >> hi, yes i know we are sick of hearing this word. unprecedented set of circumstances. there are a couple of things playing and quite concerned with the january results that we will be getting firstly, the weakening of the consumer spending power. particularly in the u.s. that's a problem on its own. you look at the supply problems and by some estimates, it is looking up to 5% of iphone sales will be affected which will have, you know, a relatively big impact in terms of whether i would say the quarter is doomed, i don't think so i think it is going to be dented and difficult and it will be disappointing. i don't think we are looking at a total derailment of the quarter. certainly the stock levels of iphones at retailers is low. that will hurt the top line. i don't th

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>> yeah, based ongoing into today we thought it was about 5% cut to iphone units.t we saw at stores today across retail it's about 25 to 30% below typical for apple within apple stores. and i think you're seeing those wait times continue to increase. look, this is not good news and it's been a body blow to apple for some supply chain perspective. right now they can only watch. >> apple has managed pretty well throughout the supply chain crisis that came out from covid, right, and it's been -- there have been questions before about china and apple, and it manages to overcome those. are you saying something's different this time? >> i think this time is different because it's the most important time for holiday season, demand continues to be over supply, and here it is you're losing about a billion dollars a week in lost iphone sales, and this couldn't have come at a worst time for amyl. and it's reached a boiling point. clearly the images you see here that's been a black eye for apple, black eye for foxconn, and i think right now they continue to be at the mercy of

protested apples main iphone making plant in china.d security personnel after a month of the most -- of restrictions. the protests started overnight over unpaid wages and fears of spreading infection. global news 24 hours a day on air and on bloomberg quicktake, powered by more than 2700 journalists and analysts in more than 120 countries. i'm ritika gupta. this is bloomberg. guy: thank you very much indeed let's pick up on that story. ramifications the protested foxconn. chief and founder joining us now to discuss. david, the stock is up 1% right now near session highs. our investors right to ignore the story? david: apple is a unique company, there's no question. there's no superlatives we can come up with to apply to this company. they are incredible at dealing with adversity and growing under all circumstances in recent years, a quite a few years. so right now i think apple is probably ok. the problem is that we don't really know what the combined impact will be of production reductions in the iphone factory could cause people not

that even googl may be at risk by the way, a lot more on apple, as violent protests rock the massive iphone plant in china, john >> the health of the consumer' top of mind for investors, looking ahead to black friday, and the rest of the week, with a rolling stride of playoffs -- from china to amazon what is the impact on tech here? >> jon chu joins us with a look >> so john, as we take a loo at sentiment within technology services and of course tha all-important consumer secto around this holiday season, it turns around into these thre sectors being the real drivers a lot of the downside action w have seen. as you can see, some of th outside moves to the outside are the three most important sectors. if you want to take a look a some of the names that might have more of a consumer focu within those three sectors a the holiday shopping season an consumer spending takes center stage. so we ran a screen with s&p 50 companies within those three sectors. tech calm services and consume discretionary. 153 names are on that list we look for the highes interest on a relative basis for those groups t

you have the iphone 14 and iphone 14 plus, than the i-80 -- the iphone 14 pro and max. in terms of the 3 million units, going from 90 million to 87 million, that is because of softer demand that has plagued those two lower and iphone for teens from the beginning. the pro and pro max is supply issue. aand apple put out a warning discussing how their outlook is going to be lower than anticipated because of the output at their foxconn facility for those two particular models in china going mostly off-line. due to covid protocols. so mostly it is a supply and demand issue depending on which models of the iphone 14 you are looking at. emily: how will this impact of company's outlook? you have reported about spending -- tim cook told us he would be more deliberate about spending, then getting pretty granular in your reporting about what rules they plan to cut and keep. how does this fit into apple's bigger picture? mark: right now it seems pretty clear that revenue for the holiday quarter which fell to the end of january, this quarter runs through december, will come in lower

the vast majority of iphones are still made in china. also, guys, i want to take a second, we cannot forget the human toll this takes. the images coming out of foxconn the last few weeks remind us the labor conditions in china over a beck decade ago that made apple demand changes in practices from suppliers. some of the images of the protests of people getting beaten and bloodied, garbage piled up in the dorms and so forth, it highlights the human cost it takes to make an iphone and get these out the door, guys. >> good reminder, stieve. thank you. >>> despite the squeeze on iphone supply, our next guest is buying the stock naming apple along with amazon and disney the best tech names to settle into joining us now is michael of yoshikami. before we get to the trades, does china r's supply color your overall view of the sector >> on the short term, it does. but the long term, i don't think it does. it'll get resolved or china will move things out of china towards vietnam and other places so i think it is a short-term impact, as you can se

apple expects lower shipments of its newest iphones than previously estimated after iphones affectedrations at a suppliers chinese factory. apple sees strong demand for the iphone 14 models, but lockdowns means customers will experience longer wait times. the chinese government locked down in the area around the plant until at least wednesday. the bytedance ceo will sell all remaining ftt tokens. ftt is a coin from sam brinkman freed's crypto. binance holds about 53 million ftt tokens. charles has decided to unload the tokens due to "recent revelations." these are the stocks we are watching as trade opens in korea and japan. asian apple suppliers may move as the company expects lower iphone shipments. japan defense stocks may move after a concern that prime minister fumio kishida is posed for any action that threatens peace and security. this is bloomberg. millions have made the switch from the big three to the best kept secret in wireless: xfinity mobile. that means millions are saving hundreds a year with the fastest mobile service. and now, introducing, the best price for two line

reduced by another two or three million iphones as they say, good demand remains on the top versionsf 14 pro and 14 pro max, but now it is with them that problems with their production, however , it is worth noting that, according to estimates for the analysis, the entire global smartphone market is not going through the best times and decreased this fall by almost 10%. against this background, the pretena company looks the best in the first five manufacturers. well, having lost less than others, but on the scale of the planet's most expensive company. and these percentages are huge losses. new year's billion from russian lotto buy tickets here. on yandex.market, buy redmond household appliances with discounts up to 49% what does donetsk land contain ? i look over there, i have an opponent there, my opponents. therefore suffer the military forces of ukraine literally hides in residential areas of neighboring settlements now the news of alexander's economy electricity supplies to moldova have become more expensive, the three of us have to use unprofitable contracts with european partn

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for the iphone. i don't think this will be a major challenge for apple. i certainly think they may have expected something like this to happen. but we really won't know what this is going to shape out to be like until we see the shipment timelines if they get delayed or not as we approached closer to the real hard -- the real holiday season. kathleen: was going to be the challenge or opportunity for apple moving ahead? it was not exactly a booming green light for profits. what is the next big thing for apple? >> if you look at the apple earnings report, this was their fourth quarter report, in context, if you compare it to their peers, really it was pretty good. comparing apple against apple, it was not the greatest. if you look at the current economy, they did pretty well. in terms of the next big thing for apple, it is a continued juicing of their install base over 1.8 million devices to generate more services revenue on top of their initial hardware revenue. there and -- the next big product would

every iphone. every iphone. -every iphone. -every. every. iphone. ok. my work here is done.very iphone. best one yet. everyone gets at&t's best deals on every iphone. including up to $800 off iphone 14 pro. are you coming for my job? >>> welcome back to "power lunch," retail ticket seller, vivid seats, record revenue helped by concerts, sports and theater business, though it missed on earnings expectations. of course we are hearing across the travel and leisure industry, they are spending more on experiences rather than buying stuff. the stock turned lower today, down about 24% for the year, and with a recession looming, is the outlook still bright here with is stan chia, ceo of vivid seats. good to see you. thank you for being here. >> thanks for having me. >> set the scene, if you will. you guys saw great revenues coming in. why did you miss on earnings >> yeah, you know, contessa, first i would say i think we've had a tremendous year. when you look at the quarter, i think across the board, we came in babove on consensus, $28 million for ebita in the quarter. i think we've

give us the latest around iphone 14 pro production there.egarding musk and his visit to apple today, i have no reason to believe that visit did not happen. it looks like tim was there, from what i have heard, musk was there today. musk likes to prank a lot on twitter and tweet things the public would not necessarily believe or not entirely accurate, but i don't think this one was inaccurate to say the least. in terms of the iphone 14, we are hearing there's going to be a unit decline from the original 90 million to north of 80 million. that is a combination of the riots and covid impact on the i-440 team -- iphone 14 pro factory, but people not buying the regular iphone 14 models in quantities that apple initially anticipated. i think things are turning to turn around. i ordered an iphone 14 pro from verizon earlier this week and that is scheduled to arrive in mid-december. i think things will improve the next few weeks. ed: bloomberg's mark gurman, thank you. let's stick with apple and dig into it with an i.t. hardware analyst at credit sui

is that the new iphone? yup, i just got the new iphone 14 with its amazing camera at t-mobile. wow!t four iphone 14's on us and four new lines for $25 bucks a line. these days, our households depend on the internet more and more. families grow, houses get smarter, and our demands on the internet increase. that's why we just boosted speeds for over 20 million xfinity customers, on us. so you get more of the speed you need for day and night streaming. more speed you need when you're work from homeing. and more speed you need as your family keeps growing. check in on your current speed through the xfinity app today. >>> welcome to "the lead." i'm jack taper. this hour thousands of college students returned to campus in idaho with a killer still on the loose. it has been two weeks since four students there were murdered, and still no arrests, no suspect named, no weapon found. what is being done to keep the community safe there? >> plus, voters heading to the polls in georgia, again. we're just over a week away from the georgia senate runoff between herschel walker and senator raphael w

every iphone. every iphone. -every iphone. -every. every. iphone. ok. my work here is done. everyone gets the best deal on every iphone. best one yet. everyone gets at&t's best deals on every iphone. including up to $800 off iphone 14 pro. are you coming for my job? homegrown tomatoes...nice. i want to feel in control of my health, so i do what i can. what about screening for colon cancer? when caught in early stages it's more treatable. i'm cologuard. i'm noninvasive and i detect altered dna in your stool to find 92% of colon cancers, even in early stages. early stages? yep, it's for people 45 plus at average risk for colon cancer, not high risk. false positive and negative results may occur. ask your provider if cologuard is right for you. consider it done. what kind of movie are we gonna make? >>> all right, welcome back to the half time report let's bring in another market voice. he's the founder of blue line capital. he's with us today good to have you here from chicago. results are on deck and those are going to break during overtime, so i will see you then but what sh

. >>> coming up, iphone workers dispute. a company apologizes after employees protest. >>> and elon musk's latest controversial decision. why suspended twitter accounts could soon be back on the platform. >>> this is the "cbs morning news." ♪ ♪ this year take the time to melt into your holiday moments with lindor. ♪ ♪ irresistibly smooth chocolate. from the lindt master chocolatier. moderate to severe eczema still disrupts my skin. despite treatment it disrupts my skin with itch. it disrupts my skin with rash. but now, i can disrupt eczema with rinvoq. rinvoq is not a steroid, topical, or injection. it's one pill, once a day, that's effective without topical steroids. many taking rinvoq saw clear or almost-clear skin while some saw up to 100% clear skin. plus, they felt fast itch relief some as early as 2 days. that's rinvoq relief. rinvoq can lower your ability to fight infections, including tb. serious infections and blood clots, some fatal, cancers including lymphoma and skin cancer, death, heart attack, stroke, and tears

iphone 14, the entry-level models for the iphone, this generation. it is significantly down from last year and apple is making adjustments. analyst have -- analysts say they expect apple to increase the production of the pro models because the demand for those has been resilient. it is the regular iphones that are taking the real hit on the demised -- on the demand side of things. manus: good to have you with us this morning putting context around these reports. we have the twitter story, the most read story on bloomberg. they fired a bunch of people on friday and now they are ringing people up say in combat. and then you have meta. this is a much more aggressive story in tech with meta set to fire a lot of people. is that the bigger story to focus on? vlad: i really don't know. i personally still think twitter has an outsized influence for how big of a company it is. keeping a close watch on how the company develops is a big deal. for meta, we have seen this intensifying over the course of the deal. and apple is halting hiring outside -- except for

every iphone. every iphone. -every iphone. -every. every. iphone. ok. my work here is done.gets the best deal on every iphone. best one yet. everyone gets at&t's best deals on every iphone. including up to $800 off iphone 14 pro. are you coming for my job? >>> josh, let's talk about the sale of meta when and why >> i sold it a couple of days ago, before today, obviously, before today's pop i just have better things to do with it. a lot of my favorite names had come down and, you know, i think i bought it a little bit early i bought it on the day it collapsed at about 99. i probably should have waited a couple of days i normally do. i would have gotten it maybe low 90s, but it was a small trade. didn't really mean that much and i decided to reallocate elsewhere. >> dutch bros is having a great day today. one of yours talking about that for an awfully long time. >> let's keep in mind, i'm still down in this stock from where i originally bought it i'm still down in the mid-teens, percentage wise. this is like a classic example of just a company that came public at the wrong tim

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targets for iphone sales growth this quarter. a lot of demand could pull forward into january not to mention this exposes the risk of apple relying on china, including the human cost of making products there, guys. >> yeah. steve, where i want to hone in this human cost. it's -- obviously awful from a human standpoint but in the case of apple specifically, such a major company on the world stage and certainly one that is very focused on things like esg here at home. i've got to think that this is from a pr standpoint, a very difficult situation for this company to navigate. i wonder what it means for the company from that standpoint and also in terms of its ability to now move more and more of that production to other places >> yeah, morgan. a lot of aspects to this a lot going on here. so, look this is probably the worst look for the apple labor throughout the supply chain in china since about 2011 when those reports came out we heard awful tales of foxconn workers committing suicide, you might remember since then a lot of safeg

, due primarily to softer demand for the iphone 14 and 14 plus.pple and its suppliers aim to make 87 million of the devices or fewer. global news 24 hours a day, on-air and on bloomberg quicktake. i am lisa mateo. this is bloomberg. ♪ schip. >> the loss of the number as expected, and as highlighted by these polls, how much is donald trump still be front runner as far as setting a tone as he hits a path toward 2024, and how much does it move beyond him for these issues you are talking about, attracting a number of people to the gop. >>>> just this weekend, a rally showing he was double digit way ahead of governor ron desantis. we have a new nickname for that individual, as well as former president mike pence. he is the clear leader at the moment of this republican party, and that is why you see a number of republicans want him to come to their rallies, right? he was with marco rubio over the weekend in florida. he will be with j.d. vance, the republican hopeful in ohio, he is for sure the leader right now the question is, the next two years, does h

the facility is operated by a contract manufacturer that assembles the iphones.hen there were the worker strikes or clashes with guards in the early hours of wednesday morning last week, the company cannot pretty quickly and said the situation was under control and that the plant was operating normally. we reported the 6 million deficit in production, which is quite serious and a holiday quarter. the bloomberg source told us that apple and the contractor are sure of making up that shortfall, although you missed the key holiday period. we don't really have a good sense of what the duration of these impacts are. i think the source is telling us in this story that actually it is the quarantine, the covid rules that are most disruptive to production here, not the dissatisfaction or strikes from workers around pay and conditions. there's no way of really telling how long that will go on for, because the chinese government is doing a bouncy act of trying to protect the economy, while also reducing the spread of covid-19. apple officially hasn't said anything on either

and also the largest iphone city in the country, the biggest maker of iphones, putting more movements in place. we will be watching apple supplies at the start. another sector we are focusing on, what's happening in the energy sector, given the move we had in oil markets. shery: let's get more on oil markets because we are fact rating and what is happening with russian price caps and u.s. stockpile buildup we saw. today, the italian joins us. let's start with eu talks on price caps. they finished without agreement. >> it looks like european countries can't agree on the level of price cap. countries like poland and baltic nations think that $65 a barrel is too high. too generous for russia. countries like greece and malta do not want to go below $70 a barrel. the whole idea was to impose a level at which russia won't be able to get sufficient revenue from crude exports. at the same time, european countries want to make sure flows will continue. even if we get this price level between $65 and $70, it will be far above russia's cost of production. flows will continue because russia is s

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nothing will happen to my iphone.ore, and by the way, this is a reduction in demand, it's precisely the western countries in the countries do we have a global cock? people missed a couple of models and in the united states, remember that there were only new queues, so now everything is changing, and where is the iphone manufactured in the people's republic of china, plus the crisis in the real estate market, plus zero tolerance for covid, which of course leads to the freezing of the economy, many such things that of course cannot seem pleasant to anyone, and in this situation, of course , we will not even be surprised, because in china , the position is more cautious. he will certainly be further to threaten taiwan, i don't think he's there now for the people's republic of china, the war for taiwan was a brown letter would spit on everyone. i would say the opportunity of sledzempin to lead calmly. here on this third term, i don't think he is. so what can we hope for if the united states and china managed to find a mec

growing by more than analysts expected meantime, protests at foxconn's iphone plant in china could being a bite out of apple's production plans the unrest in the city of zhengzhou two weeks after apple warned of production delays due to china's zero covid policy eunice is there with the latest. >> apple supplier foxconn said that as of tonight the operations at that facility in central china are normal this after videos emerged online obtained by ap but not verified by nbc of people describing themselves as foxconn workers slashing with authorities in has m hazmat suits shouting give us our pay. they say they are working for weeks longer than agreed upon in isolated covid conditions to receive pay and bonus. they fear virus spread at the plant. foxconn says it's communicating with workers and the government to avoid a recurrence and is offering workers comp' compensan china's covid outbreak appears to be going national zhengzhou is in lockdown until next tuesday and conducting mass testing. chongqing is in effective longdown chengdu, which emerged from a lockdown in november, is mass

a major slowdown in iphone 14 shipments, strict covid restrictions caused this at a factory in china interesting, progression of events regarding guidance then a story about numbers and i know you talked last night about the mix and how it's not the kind of product you'd want to have a shortfall on. >> no, carl. exactly. apple is like the one company with a high dollar peoremium it doesn't appear the iphone customer wants to trade down into the lower end iphones but want those higher end features so when you still got demand, consumer demand that is viable at the high end at a time like this, you want supply. when supply gets choked off like this, it raises questions about how much and how long -- i don't know we have those answers, but this stock reaction initially pretty mild. i wouldn't expect that it's necessarily the only reaction that we'll get once we get more information. >> mild today but we're looking at a one-week chart of apple as you said a company that's been more resilient in terms of supply and demand when others are hit harder, down 10% over the past week. a large mo

as far as iphone 14 and iphone plus models:, that is where a lot of the shortfall in sales and demandslizing. an analysis done specifically in china issuing iphone 14 models, slumping in sales much faster than last year and faster than android. rishaad: what about this being a lesson for apple and encouraging them to move more of their production to india? >> that actually goes back to your question, which is how clad -- fast can foxconn make a production? so many components that go into an iphone are made in china, so in order to do final assembly and packaging in india, apple has to move more but supply chain and it will not be cheaper production. it will be more expensive. haslinda: thank you so much for that. to the latest on tech industry layoffs, after twitter fired half of its staff, this week according to sources meta-platforms is appearing to axe workers. let's start with meta. >> this is after years in which these tech companies were increasingly growing and hiring, so this is coming as a shock to the industry. company after company now announcing layoffs. in the case of face

the iphone 14 can use satellites to contact emergency response.that works. >> reporter: absolutely, you are correct, the iphone 14 can use satellites to contact 911 in an emergency. if you have an iphone 14, in that scenario, you a text or call 911 . if there is no cellular conductivity available, you should see an option to connect to emergency services via satellite. you can also share other details like specifics of the situation you are in. like whether it is a car accident for example, or an injury. the iphone will guide you to the process of connecting to a satellite before sharing those details as well. as were doing this, you can share emergency contacts, medical id, your location, and details like that. >> that will make a huge difference for rescues. >>> the holiday seasons mean that there are porch pirate. you have a way that we can stop porch pirate thieves. >> yes, we have a few tips you can follow. the most obvious is to stay on top of the tracking information. make sure you are there to receive your package. that is not always the c

apple officially acknowledged the problems with the production of the latest generation of iphones, namely the 14 pro and 14 pro max models, they are assembled at the foxcon factory in the chinese city of chenzhou, which ended up in the next quarantine zone, sanitary restrictions do not imply a shutdown of the factory itself, but all activity around is reduced to nothing. that is, now it is not clear how to deliver components and export finished products. the plant itself switched in advance to a special regime in which employees. that 200,000 people were forbidden to leave the territory arranged. this is not all and there were footage of natural mass shoots through the fence of the lego factory, which is popularly called the iphone city by some fox reports. he tried to persuade the workers to stay and promised increased bonuses . but apparently without much success. and now this one has been officially announced that the changejou plant is currently in operation. at a significant reduced capacity, and therefore the phones will be shipped less and wait for your order. it will take longer f

last we heard was early november, they expect to sell fewer of the iphone 14 pros.u mentioned, ming chi quo, he's estimating 15 to 20 million shortfall. barclays up to 20 million. loop capital 10 million. evercore is lower, and it's all because of the unsearches, can they spin up production. we note they won't be able to do it for the holidays. can they do it to get people to continue to buy at least into january. the barclays note expressed pessimism that they think the demand to fall off the cliff after the holidays if they can't get their iphone 14 pro, they just won't buy it at all analysts are expecting on a unit basis sales to be flat for the iphone, and now they're saying it could be 20 million lower than that. 70 million iphone also. >> the stock done 8% so far this month. the nasdaq just turned negative, still down 20% for the year, but it's gog crushed here. >> that's the key point, it's giving up some of the outperformance and valuation premium it's maintained. there is a lot of money in apple that's there because of the haven status, because of the great

there are not going to be many iphones under christmas trees.orting foxconn needs to hire 100,000 more workers to get back to full production following the covid lockdowns a couple weeks ago this is the snarl apple warned about. about a week and a half ago, covid shut down at this so phone iphone city. they'll sell fewer iphone 14 pros than expected apple was counting on selling more expensive pros to meet sales growth targets for the iphone segment because unit sells are going to be relatively flat this year folks were choosing that more expensive pro phone over the cheaper ones now they have to wait well over a month. if they order today, makes it more difficult even unlikely iphone sales will hit the mark this quarter apple also says the demand is still strong for the 14 pro, so it's possible sales will carry over into next year once foxconn can catch up and start making it foxconn has not commented on these hiring targets >> shocking. >> yes, exactly. but if you wanted to get one in time for christmas, it's already too late, brian. if you or

is that the new iphone? yup, i just got the new iphone 14 with its amazing camera at t-mobile. wow!and four new lines for $25 bucks a line. >>> checking in now on the world cup in qatar where team usa just wrapped up a tense and dramatic match against england fighting their heavily favorite opponents to a 0-to draw. don riddell is joining us live from doha. don, this was a tie, but how do you think the u.s. fared against england? >> you know, i think it might be one of those drawn games that feels like a win, maybe even a moral victory, at the very least, for the united states. it was a really good performance by the americans. the english team, one of the favorites to go away in this tournament. they put six goals past iran in their opening game. so i think they acquitted themselves very well the american side. they handled england very well. and they gave them a run for their money at times. we're going to show you some of the highlights from this game. the americans had some really, really good chances in the first half. western mckinney, a man who's known for his love of harry p

the company temperaorarily scald back the production of the iphone 14. the factory where the pro and pro max models are made is operating at a significantly reduced capacity the company says it will likely ship fewer devices and customers will face longer waiting times all of this coming amid the holiday sales period for apple. >>> berkshire posting a big jump in operator earnings the third quarter results. that figure totally up $7.76 billion. the company suffered a $10 billion loss on the investment during the quarter due to the ongoing market turmoil berkshire revealing it spent over $1 billion over share buybacks bringing the total to more than $5 billion >>> employees at home depot store in philadelphia overwhelmingly rejecting a plan to become the retailer's first to unionize. the national labor relations board reported 51 workers voted in favor and 165 voting against. the company and union organizations both have five days to file objections. i guess it is just a losing weekend in philly, frank >> you know, that is a low blow, bertha the phillies

apple cuts its outlook for iphone shipments on china's lockdowns. wall street journal says meda will start laying off staff this week. and the united nations climate talks start in egypt. we are live. let's check in on the futures. as we digest what happened over the weekend in china. reconfirmation if you needed it at officials in beijing will stick with covid zero. if you are expecting changes come it will be incremental from chinese policymakers. that seems to be the view. there has been a bit of a mixed reaction in terms of equity markets versus what is happening in the currency markets. futures have been pointing lower in europe. we are seeing that play out in the first few seconds. ftse 100 down 0.3%. waiting for the main indices to open. futures pricing lower. cac 40 down 0.6%. spanish ibex also down lower. we had the apple story coming through cutting production by 3 million pointing to softness and demand. and imports and exports disappointing. suggesting consumers are starting to ring in their spending. futures stateside pointing to 0.5%.

the company has temporarily reduced iphone 14 production. covid restrictions at the primary assembly plant in china is why. the company says it expects fewer shipments than previously anticipated which translates into longer wait times for customers. it already takes about 31 days to get the iphone 14 pro when you order through apple's website. no word on how much longer the new wait is going to be. >>> a san mateo neighborhood a little edgy tonight after two mountain lion sightings in one day. first spotted around 1:30 sunday afternoon in san mateo. that is just off el camino near st. matthew catholic church and school. police say a man saw the cat jump the back yard fence, snatch a hen before taking off. then later the same day someone reported seeing a mountain lion near a creek along the hiking trail at laurel wood park. a week ago someone spotted a lion three miles away in a back yard. experts say the cat tends to avoid people but if you see one keep your distance and call police. >>> let's get back to our weather on this election eve.

due to weakening demand, apple is canceling orders for new iphones this year. an economic headwinds on one hand and also giving the number of workers required, it is not as many. i think it is we need more time to figure out what is the impact of the covid incident in central china. emily: talk about how this fits into the president xi jinping has been handling covid more recently against the backdrop of what has have been happening with the chinese communist party? >> after the party congress originally, people were expecting that there may be indications that china can come over covid and focus on economic growth. that is not happening. for instance, in hunan, where the foxconn iphone campus is located in the local leaders, they are saying that they need to prioritize zero covid and implement covid company measures. i think it will be a bit difficult and challenging for china to come out of their covid and it is hard to predict when this may be completely going away. emily: your story is worth a read, reading about that and many more. thank you. i does it for

and just to focus on it, this accounts for 70% of apple's iphones coming from this factory. responsible for the pro and pro max. when you think about the holiday season and apple and the impact it could v there's a potential to drag down the average selling prices of the iphone given the supply end of the more expensive iphones won't be gettingting on the market jpmorgan says the ability of customers to get their hands on it is lagging at the moment. it will take time. they say 5 million to 8 million units of demand could be affected in the december call. big, big impact. that could translate to $5 billion to $8 billion. >> hard to know when they want the high end device whether they substitute for something cheaper in the apple range we know apple has been re reconfiguring the supply chain reuters was saying five years ago in 2019 china was the primary location, 44% to 47% of production sites that dropping to 21% 36% last year. they're slowly pulling back, aren't they. what does that mean for markets? >> it's important to note it's not just iphone but mac and apple watch an

buy less, people buy less they earn money, they think that you know, of course i can buy a new iphoneime, not just because i want to, because i have money, but if i don't have money, i'll wait for the next model, well, i'll skip a couple of models. nothing will happen to my iphone before, so no there was also this, by the way, this is a reduction in demand, is it precisely the western countries in the countries of the global cock, or do we have people, and did they miss a couple of models and the united states, remember that there were as soon as there was a new queue, so now everything is changing, and where are the backgrounds? -is produced in the people's republic of china, plus the crisis in the real estate market, plus zero tolerance for covid, which usually leads to the freezing of the economy, many such things that of course cannot seem pleasant to anyone, and in this situation, of course, we will not even be surprised, because china has a more cautious position. will continue to threaten taiwan, i don't think he will go there now for the people's republic of china, the war for

caroline: coming up, violent protests at apple's main iphone plant in china. the latest on the bloomberg's group that could impact sales. ed: sam bankman-fried says the ftx part went from $60 billion in collateral to $9 billion. more on that and how sbf got his start on wall street. caroline: elon musk is having second thoughts about that moderation counsel after saying activists broke the deal. more on that and musk's new trend of quoting himself. risk on, another second day of trading in the green, the s&p up. mastec up almost 1% -- nasdaq up almost 1%. the federal reserve giving little tidbits from what was being discussed. the key takeaway is most of the people at the federal reserve right now don't think we should be hiking at a piece of 75 basis points and into infinity. they think we will slow down the pace, therefore may be a peak in terms of this rate hike cycle, and indeed inflation. we are seeing riskier assets like bitcoin getting a bid. currently flat on the day. 16,473. notably, volumes are very low on bitcoin. volumes are thin everywhere as you

iphones are being produced in that factory.deepest pain in the tech sector this year. they are only down about 16% year to date so does that change on the heels of what we are seeing in china? jonathan: i couldn't agree more and i think it's complicated. michael purves this morning talked about the risks associated with these supply chains. if you shift your hub of production out of china, what's the blowback look like on the demand side? you get that rising nationalism against apple products? that's the risk they would run, not just the increased cost of moving the supply chain to i don't know where. there is also a risk of the blowback. lisa: that's way some people think apple has not moved as quickly. amazon shares are up but shopify is up more than 6%. they expect a better than expected shopping season and the shares are down year to date so are we seeing bottom picking. jonathan: we were talking about cyber monday. did you buy anything? lisa: i bought something on black friday. jonathan: what did you get? you seem so asham

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