jon fortt. >> all right, thank you, seema.n stock continues its march toward the psychological $1,000 a share mark with plays in retail, cloud, entertainment and logistics, what's next for this multifaceted company? weighing in we've got former amazon executive and boomer and commerce ceo and piper jaffray michael olson. welcome to both of you. >> hi, jon. how are you? >> i want to start off with you. you take a look at the trajectory amazon is on right now. they're pushing into grocery, into grocery pickup, doing pretty well in india, what's the front that investors should look to to really see if amazon's next step is going to be a success? >> well, let's take a look at amazon's business. they have two fledging businesses, amazon retail and amazon cloud. there are a few more that are coming to the forefront, but break them down into each of them. the important thing to see is how amazon's able to get and nail the scaling function of each of these businesses. of course the cloud business is more than 24%, 25% net income posit

now we want to go to midtown manhattan where jon fortt has been standing by as microsoft prepares to ch of products. he has a special guest. >> jon? >> they have unveiled them here in midtown with the use of -- let's talk about this laptop, who is this for, why announce this? >> sure. well, today has been all about education. we showed a range of things today from surface to windows to new experiences. what you're seeing here is the brand-new surface laptop. this is 2 1/2 pounds, 14 1/2 hours of battery life, thinnest display screen ever made, incredible performance. built for higher education. let me show you what you can do with it. >> running windows 10s, more lockdown, everything you're getting, you're getting app wise from the windows store. that's what enables the longer battery life. >> streamline performance, superior security. this is complete anatomy, an application you use, imagine today, we have textbooks, learn about the body, come in here and i can click on the skull. and you can see now, by looking through, i can get incredible detail, look at this zoom in here. incredi

welcome to "squawk alley," joining me is jon fortt and sara eisen.lso joining me walter eisen and a lot to get to with walt this morning. among it, apple, as berkshire's warren buffett nearly triples his stake in the company to more than $19 billion. stock hit yet another all-time high this morning. walter, let's take a quick listen to what buffet said amid all of his mea culpa's of miss in amazon and missing alphabet why he is increasing his stake in apple. >> the shares when we bought them were much more reasonable in relation to current earnings. apple didn't have to do a lot better in the future than they were doing at the current time. when you get into a google or amazon, you are paying for the future more. the future may be more than justified. >> so, walter, here we have a very smart man who laments missing a big chapter in tech, doubling down on this one. what does that tell us? >> well, it tells us that apple is a very secure, stable, good company because warren buffett is incredibly smart. he goes with companies he knows will be doing fine

jon fortt's on assignment. he's headed out west. a bunch of big names on that guest lit starting tomorrow. we'll hear from steve ballmer, and a lot more over at code over the next couple of days. in the meantime the dow is down 32. amazon broke through to $1,000 for the first time ever as tech stocks continue to rally in the first six months of the year. bertha coombs with the latest. hi, bertha. >> amazon stocks helped lift the stocks to a new high. they have helped large cap fund managers achieve outperformance to the overall market. they've really sort of caught up in that area. active fund managers are now about 24% overweight in large cap tech. that's the largest overweight they even been since 2008. it doesn't hurt that amazon and fail bet are at all-time highs. facebook has been a little laggard in this group, near 8% gains with other fang members. apple, they don't really touch on, but coming into this month, ubs noticed that most fund managers still had apple at left than marketweighting, and when you take a look at where t

jon fortt has brad smith, the ceo, in an exclusive interview. >> good morning. and quite a year you have had. the stock is up nearly 40%. overall, growth in tax returns is slow. to do it yourself category, turbotax's category was flat and yet you still managed to get more money. i think you were up 9%. what is it about the ways that people are making money in 2016 that allowed you to do that? >> thank you, jon, for having me this morning. one thing doesn't change regardless of what's happening with the number of people filing returns. everyone wants more money with little to no work and have complete confidence they got it right. we have been working for years to make it the best. using artificial intelligence, using the power of mobile devices and this year we saw our customer grow and we saw our revenue grow. so we'll continue to stay focused on what matters most to customers regardless of what ans in the macro environment. >> interestingly, you had a half million more people than usual use your software. but then print out their returns and send them in becau

jon fortt, sara eisen and myself at post nine. the markets up 63. joining us today, re/code executive editor cara swisher. first we want to get to phil lebeau for more on this ceo shakeup over at ford. phil, good morning once again. >> thank you very much. we will be talking with bill ford jr., or actually bill ford, the executive chairman of the ford motor company, coming to us from the company's headquarters discussing this decision in terms of dropping mark fields as ceo. he's being replaced by jim hackette. jim hackette, formerly the ceo of steelcase, board member at ford for a number of years and then took over the smart mobility business about a year, maybe a year and two months ago, and he now will be at the headquarters and we heard from him just within the last hour, saying look, we need to move faster, we need to make our decisions more unified as a company and as part of that, we are going to be talking with bill ford about what happens next for ford and about this decision, how quickly they decided the ford board decided because there's

back here on squawk alley with jon fortt and johnson tolly. watching the market having a come back. some of that is the tech, that got battered yesterday. apple up by 50 points along with goldman sachs. >> cisco's guidance was disappointing. can't help but draw a line on what internet spending was. cisco adding a wrinkles. one was federal spending. and the government line. another spending in mexico, specifically pointing to economic investment uncertainty in mexico as hitting them. now you have got to look at president trump's policies there and the stories that we have heard about investment kind of freezing as we wait on clarity on nafta. we are starting to see little movements on that. in the meantime, perhaps some businesses, tech businesses feeling the heat. >> another reminder about how the public sector is such a big business for cisco specifically. i do see the semiconductors hard hit yesterday up about a pars and a half today. a lot of big down moves bounc g bouncing. on the s&p we've redwayned a fifth of the yesterday's losses right now. tentative at the start but it has

cnbc's jon fortt joins us now on the "squawk" news line. tell us, jon, what's happening?t is. this battle is escalating. qualcomm is now suing the manufacturers of apple's iphone and ipads. and those names include foxconn, pegatron, and compile. they're suing them in u.s. district court for the southern district of california. and for withholding payment on qualcomm licensees qualcomm sued apple several days ago. this comes after apple stopped payment on licenses of qualcomm technology. they don't like the fact that qualcomm charges a percentage of the total price of the device. apple devices tend to cost quite a bit for a newer iphone and ipad. this is mostly about iphones. now, qualcomm says you can contact manufacturers are still paying for these other companies that they make devices based on. so it's just apple that they're withholding payment from qualcomm says that the manufacturers say apple told us that we can't pay you. but qualcomm says hey you're supposed to pay us. you have to pay us. so thank you qualcomm trying to bring additional pressure to bear to bring

let's send it over to jon fortt. >> well, ahead of the long weekend, david, big tech is hot.. we'll take a look at the stocks and whether they have farther to go. we're also going to dig into this trade flap with germany. president trump abroad doing some diplomacy, ruffling some feathers. we'll talk to the former deputy commerce secretary about that. all that and more coming up on "squawk alley." the comfort in knowing where things are headed. because as we live longer... and markets continue to rise and fall... predictable is one thing you need in retirement to help protect what you've earned and ensure it lasts. introducing brighthouse financial. a new company established by metlife to specialize in annuities & life insurance. talk to your advisor about a brighter financial future. a 10-speed direct-shift 5.0transmission.ine. a meticulously crafted interior. all of these are feats of engineering. combining them with near-perfect weight distribution... ...is a feat of amazing. experience the first-ever 471-horsepower lexus lc 500 or the multistage hybrid lc 500h. experience

now over to jon fortt to give us a look at what's coming up on "squawk alley." >> morning.t the impact on policy and on technology. also we've got joanne bradford to tell us why the lender might look like a consumer bank. all that coming up on "squawk alley." e playing. -what? -we gotta go. -where? -san francisco. -when? -friday. we gotta go. [ tires screech ] any airline. any hotel. any time. go where you want, when you want with no blackout dates. [ muffled music coming from club. "blue monday" by new order. cheers. ] [ music and cheers get louder ] the travel rewards credit card from bank of america. it's travel, better connected. the trawith this leveldit card of intelligence...ica. it's a supercomputer. with this grade of protection... it's a fortress. and with this standard of luxury... it's an oasis. the 2017 e-class. it's everything you need it to be... and more. lease the e300 for $569 a month at your local mercedes-benz dealer. mercedes-benz. the best or nothing. the power of 100 of the world's top companies. the power of a proven 15-year track record. the power o

how about that for a set-up, jon fortt, for what's coming up next on "squawk alley.." >> well, sara,e debt and dividend obligations also facebook coming up. look, tech has been on fire this earnings season. we'll dig into what that's about and whether it the continue con "squawk alley" coming up at the top of the hour. i'm in vests and as a vested investor in vests, i invest with e*trade, where investors can investigate and invest in vests... or not in vests. this is my retirement. retiring retired tires. and i never get tired of it. are you entirely prepared to retire? plan your never tiring retiring retired tires retirement with e*trade. the power of the nasdaq market. the power of 100 of the world's top companies. the power of an etf. the power of qqq. the thinking we put in, clients get out. power your client's portfolio at powershares.com/qqq. before investing, consider the fund's investment objectives, risks, charges and expenses. call 800-983-0903 for the prospectus containing this information. read it carefully. distributed by invesco distributors inc. >>> ten-year yield tick

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. >> let's send it over to jon fortt, a look at what's coming up on "squawk alley". >> we have got thein us. we'll dig no what is going on into that cloud business. also, youtube's got new shows. what does that mean for this chaotic media landscape? and we have the author of "american kingpin," a new book out on silk road, cautionary tale here for all of silicon valley. all that and more coming up on "squawk alley." the comfort in knowing where things are headed. because as we live longer... and markets continue to rise and fall... predictable is one thing you need in retirement to help protect what you've earned and ensure it lasts. introducing brighthouse financial. a new company established by metlife to specialize in annuities & life insurance. talk to your advisor about a brighter financial future. the power of a low volatility investing approach. the power of smart beta. power your client's portfolio with powershares. before investing, consider the fund's investment objectives, risks, charges and expenses. call 800-983-0903 for the prospectus containing this information. read it

let's send it over to jon fortt. >>> we have bill ford, executive chairman of ford maybe shedding lightark fields, the new ceo coming in there. also a couple of ceos of genomics to talk about the future of dna sequencing and more. also, been 15 years since netflix' ipo. all that and more coming up on "squawk alley." i count on my dell small business advisor for tech advice. with one phone call, i get products that suit my needs and i get back to business. ♪ ♪ >>> mark fields is out, ford appointing a new ceo and president. bill ford, great grandson of henry ford, saying the new ceo will transform ford for the future. robert frank joins us now with more on the ford family and the important role it continues to play clearly at this company. robert? >> as you mentioned we still don't know exactly why and how this happened but one of the drivers we can be sure, or maybe the biggest driver of the change at ford, was the ford family. they own less than 2% of ford shares but they on 40% of the voting power and that's through a special class of super voting b shares held through a family trust.