for "nightly business report," i'm josh lipton, sfrancisco. >>> a major spirits cpany is betting bigis-infused drinks and that's where we begin tonight's market focus. constellation brands is investing $4 billion in canopy growth impea grow growth, the biggest wager to date. constellation, which owns corona and other beer and wine brands has been dealing with a recent decline i beer consumption. shares fell 6% today to 208.27. meanwhile, the hedge fund owned by the ceo of sears is offering to buy the kenmore appliance brand from the retair for $400 million. kenmore is considered one of the cash-strapped departmenst e's last remaining valuable brands and it's no secret that sears has struggled for years with the shrinking sales and it's been forced to sell off other popular aiands just to cash. the stock which is now a small cap fell 13% today to $1.59. fd it was a disappointing quarter performance food group which missed earnings and revenue expectations and provided a downbeat outlook. uee food distribution blamed rising labor andcosts and executives say they do not expect those fue

game stocks are getting wrecked, which by the way, is what gamers say when someone is losing badly josh lipton is in san francisco with the details hi, josh >> mel, gaming companies appear to be in the kos hairs of chinese regulators the government there now is proposing controlling the number of approvals for new games, implementing an age rating system for games and restrictions on the amount of time minors are allowed to play. there is a fair amount unknown about the new measures and no clear outline on when and how the measures will be implemented and gaming giant tencent was high on that news. hans chung who covers tencent remains a bull, but he says there is incremental risk for the company and the broader industry, he says that the government there does seem to want to implement more restrictive approval process for new titles looking ahead electronic sarts and activision, bank of america, merrill lynch, cutting its rating for both stocks to neutral from buy remember ea got hurt this week after the battlefield five game to november 20th and lowering guidance she's talked about the impac

let's get back to josh lipton. ra, so this news on microsoft, the headline here is that microsoft is being hit with a u.s. bribery probe over deals in hungary this is dow jones citing sources under investigation in potential bribery and corruption sales in hungary. dow jones noting it serves in similar probes microsoft telling the journal they actually moved quickly to investigate itself after they became aware of this potential wrongdoing at its hungarian operation. the company saying it's cooperating with the justice department and sec we've also reached out to microsoft to get a statement on this and bring it to you when we get it >>> new home sales down 1.7%, lowest sales pace since october 2017 >> fast money traders join us now to tell us how they are playing the space if at all. the core, home building stocks have been pretty lousy laggards right here it's starting to feel the market thinks this cycle is not going to live up to hopes. >> it you look at this space it is a value investor's dream with single digi

their game on and did the home crowd proud by winning the nba's first ever esports league finals josh liptonh the details hey, josh. >> mel, the first season of the nba 2k league ended after four months of competition in long island city, new york, this is the official esports league created by the nba and game publisher take 2 interactive in which nba franchises form and manage teams that compete at a version of take 2's popular nba 2k video game. this year's champion crowned on saturday knicks gaming knocked off heat check gaming taking home $300,000 split among the team the gamers in this league 102 in all with paid a salary up to $35,000 for a six-month contract as well as perks including free housing and training in all they will competed for $1 million in prize money this season of course, the opportunity to promote their own personal brands, a chance to become social media stars how many people watched? the league tells me that toward the end of the regular season an average of 300,000 unique viewers watched individual broadcasts this league is still very young, of course, but growing

how high does wall street think it will go our josh lipton is live with those details. josh >> scott, investors celebrate apple's results today. so, too, did a lot of analysts a clean beat on the path to 1 trillion morgan stanley's katie huberty says she cease more upside down downside risk and hits news for 90 days and the path to trillion intact and amir chimed in and others a bit more cautious here with positives and negatives, largely balanced at current levels we view it as fair bernstein's tony sag nacconaghis on your show earlier today giving his take on the quarter take a listen. >> many people, ourselves included, were worried about the traction that the iphone x might have with consumers at that price are price point and apple is proving us wrong. >> still, sacconaghi remains market perform on the name worried that the increase in average selling prices are leakly not sustainable, longer term, he says and skeptics in short supply at least today apple charging higher here, getting ever closer to the $1 trillion milestone most analysts covering apple continue to

aaron levie is with josh lipton. >> good morning, carl and eric thank you for joining us i want to dig into the earnings report investors were disappointed, stock closed down 10%. one concern is whether you all were moving the goalpost a bit you had a $1 billion target that was out there, and we had been talking about that as the run rate metric for fiscal '21 now talking about it for '22 walk us on what's going on. >> we have always talked about the full year of fiscal '22 being the first full year over a billion dollars in revenue we previously talked about the moment we surpass the run rate, hit the run rate of a billion in revenue, which wouldn't be a full year of revenue at a billion, which was the earlier milestone. what we wanted to do is give a solution sales strategy, add on strategy, big deal growth metrics, didn't want to pinpoint the specific quarter we plan t hit that billion dollar run rate, however, we did commit to and recommit to being able to achieve over a billion in revenue in fy '22 which is what we previously talked about. >> why can't you be more precise for peop

. >>> welcome back to "fast money," apple's next events is set to take place on september 12th josh lipton san francisco. >> mel, the event will take place in apple's new campus in cupertino specifically at the new steve jobs theater as you see here the invite simply reads gather round. as we know apple will be tight-lipped, but reports both in the media and the street indicate that three new iphones could be on the way. a new high-end model with a 6.5-inch display just to put that in context. the iphone x has a 5.8-inch display. what's the advantage of such a big screen in i checked in with longtime apple watcher of creative strategies. he says it being lead to a much richer gaming and entertainment experiences. in other words, potentially more engagement with apple services and apple could charge $1,200 for such a device. also expected an upgrade to the iphone x which has sold strongly giving a lift to the revenue and stock price and what some are calling a more budget-friendly iphone with a 6.1 inch screen. it might not just be iphones though others can come on september 12th, as well a

josh lipton back in san francisco. tesla out with earnings after the bell today.t least 24 hours of earnings are a tale of two ceos. elon musk is hailed as a visionary despite financial and production challenges while tim cook is often not known for not being as innovative as steve jobs. >> which ceo is the best bet for now and the future we are joined by david garity. who do you choose? in terms of creating shareholder value i would think that tim cook is your guy, but visionary founder, it doesn't get more eccentric and perhaps brilliant than elon musk. >> tim cook is probably definitely the guy. you will not have as much excitement and hype as you get with elon musk. you will get steady growth year after year. >> david, which company would see a bigger share price drop if the ceo unexpectedly left? >> i think in the case of looking at the company you would have to say that elon musk certainly plays a larger role within investors perceptions at certainly tesla and on the private side with regards to space x. cook has been a very strong inheriter of the position

josh lipton, thank you >>> shares of sodestream jumping today after pepsico announced it is buying itepsi's latest foray into sparkling waters. helped by brands like lacroix, spindrife, bubbly. there are a lot of players here. bill, sparkling water bubble it does appear to be growing a lot faster than even bottled water >> it's too early to call it a bubble or if it is a bubble it's certainly too early to say it's going to pop everyone and their brother has realized they've been making bubbly water for quite some time be it some of the alcoholic beverages companies are getting into the market. so there are a lot of new products hitting the shelves we'll just wait to see what happens. >> jeffrey, where does sodystream fit in the sparking water market share landscape i mean it is pretty fragmented with nestle also a major player in this smpace >> as the product type continues to grow, this is an interesting move because it lets pepsi access it at a different usage point. the in-home usage is almost a different case for a lot of people and if they want to cut waste on the go, they're goi

josh lipton with the numbers. >>eps of 70 cents versus expectation of 69 cents.7 billion. in terms of guidance q 1 callingeps 70 to 72 cents. and revenue growth between 5% and 7% compare wg expectation of around four percent. infrastructure plat forms up about seven percent to 7.44 billion. applications rose to 1.33 billion. security up 12% to 627 million. this call starts at 4:30 eastern and we'll be on it. >>> let's get to our panel for some reaction to this move. daniel flack is with us here. >> looks like a beat on weak action. >>. >> i think we are seeing the company is shifting its mix to more software and services. they are investing in key areas like security where we are seeing strong growth in analy c analytics and cisco is embracing the cloud. that is a key part of the story and is enabling the company to expand margins and return capital. we think it is an attractive story. >> is it attractive enough to get the stock moving again it was such a good story and then it stalled out. where are we today >> i think this is probably not going to be too big of

josh lipton has more for us tonight from cupertino. ♪ ♪ >>> app reporting iphone units coming in at 41.3on in thr quarnd that was a bit lighter than analysts had expected and wall street was looking for 41. million iphoney units and tarried a higher price tag and the average selling price of the iphone was a much stronger than expected $724. if you had to chance to catch up briefly with ceo tim cook and we talked about a mix of iphones in the quarter and if you look at the phones most recently launched and the x and the 8 plus. you can see that in the average selling price and they took down channel inventory of th iphone by 3.5 million units and the overlying demand was stronger. i'm josh lion in cupertino, california. >> what next for apple? we are joined byngelo zino equity analyst with za research. thanks for joining us tonight. >> thanks for having me. >> i am struck by what josh told us. theyold fewer iphones than what wall street expected, but at a higher price point than wall street expected. the strategy seemed to work to sell the expensive iphone xs, yes? >> we were looking for

let's get to josh lipton he has the numbers >> box reporting a loss of 5 cents versus 6 cents that wasorted group paying customer base to 87,000 as for the guidance they're looking for q3 here a loss of 7 to 8 cents that's a bit wider than expected on revenue 154 to 155 billion. that's basically in line frch for a year a loss of 18 cents, narrower than the street was looking for on 606 to 6$608 million. the big topic of conversation for these calls is achieving that run rate by a the back half of fiscal '21. asked him about that guidance, and telling us me we expect more of a ramp up for the second half of the year. we do expect billings to be pretty strong in the back half of the year. specifically with drop box and that team and saying we're still in pretty separate markets at this stage, he says. the consumer space they're dominating we don't play there box also this week is going to host its box works conference in san francisco. stay tuned for that. back to you. >> all right, josh, thank you very much. the stock look like it's been bouncing around. so tag you're it >> yeah, i mean

. >>> josh lipton in san francisco. apple ceo tim cook getting a $120 million payday. we'll tell you why coming up >>> i'm robert frank at the pebble beach car auction this is one of the most famous movie cars ever coming up for sale can you guess which movie it was in anyone anyone anyone >>> i'm michael santoli in for wilfred frost. can tesla be fourth $4,000 per share? one major tesla investor thinks so she's written to elon musk to make her case. >>> welcome to "the closing bell." happy friday welcome, mike santoli. >> i knew you had that competitive thing on the walk with wilfred i didn't really go for it. i didn't think it polite to show him up >> nobody can match my walk. >> i'm not trying. >> i got a text from wilfred every single day let's check in on this market. another record setting day of market rallies s&p, nasdaq, and russell all hitting highs for the session. >> couple percent below the old highs. the s&p 500, a bit of suspense here about a point or two in record territory on a closing basis some people will put some significant in that because it'll b

how concerned should we be about election hacking josh lipton live in las vegas with more on that storyrter: as mid-term elections approach here, election security is front and center here at black hat, election center expert walked us through how vulnerable our voting machines can be so, carson, walk me through how we're going to hack a voting machine. >> the first thing we do is connect to this machine. when we press join we're connected to the machine >> is that it? >> that's it do not use wireless access points of voting machines. don't do it. if you doubt this is the window machine, you can just look and list the directory until you see there's a directory called win vote then i'll have control >> you successfully have broken in >> you could at this point you would actually have access to the voter database and change the votes? >> that's correct. >> now the win vote machines you guys saw in that machine have been decommissioned. sherman tells me there's voting machines out there that he would be concerned about like win vote machines they don't actually produce a hard paper trail.

earnings, seeing shares rise after reporting a surge in revenue and average mobile monthly users josh liptonin san francisco with more. >> the largest player in china reporting surging growth and estimates driven by core business steals climbing 61% to 89 billion. the company earned 8.04 a share. did miss estimates, they took a one time charge laid to comps, tied to valuation. revenues from the core unit rose 61%. cloud computing business growing very fast in the quarter revenue nearly doubling. sales from a digital media and entertainment division climbed 46% to 6 billion juan. ali baba is forming a new unit, including food delivery service which received more than 3 billion in new investment, including commitments from softbank switching gears on the call, talked about another hot button topic, trade tensions with the u.s. take a listen. >> i want to spend a few minutes on current trade tensions. first, what's the impact to our business wel well, we are less reliant on chinese exports. we believe chinese policy will support imports to satisfy rising demand of chinese consumers. this coming

we want to check with two people here but first to josh lipton, and talk about whether or not any of josh, and the historic mark, is a topic of discussion within the company >> you know, i just kaulgcaught briefly, as you know, with tim cook, we didn't raise that question, and i know cook has been asked that before and clearly said it was a big emphasis of his. which i don't think is that surprising as you guys have mentioned it doesn't fundamentally change anything with cook and i think that's what they're focusing on. i think it's a big milestone for the company. >> and we talked about valuation yesterday. we asked certainly analysts on whether or not this milestone acts as a cap or sentiment is it meaningless? >> i do think it's meaning less. from a surprising perspective, getting to 1 trillion didn't change the valuation if you manage to get to a trillion, more cash than any company in history they have done $300 billion in cash over the last six years that's amazing to be able to do that much cash and still get 1 trillion >> aswath, the same question to you, what is the cycle imp

josh lipton watching apple let's bring in inside.com founder jason calhan good morning to you. >> goodorning. >> we have services up 31. second biggest quarterly buy back ever. how much of a negative is trade and tariffs when you weigh it against all that >> i'm not worried too much about the tariffs and the trade. i think it's just too crazy to start a trade war over the iphone that would just be mutually assured destruction for china and the united states and create a contagion that's very bad for a very high priced stock market as we saw with facebook and twitter taking a hair cut last week apple with slowing iphone sales and the higher asp is a bit concerning to me that they can't increase the sale of devices but wonderful to see what they are doing in services and that's a $50, $60 billion story next year it will increase apple care might be a big portion. they are taking out all the friction of owning an iphone i broke the glass, i have to get it fixed by doing these kind of interest free loans that they give consumers it's really easy to go in there and wind up spending $1,200 o

josh lipton has an update on when apple's next big event will be josh >> reporter: that's right. this is the invitation a lot of tech investors have been waiting for apple's big event, the invitation ran will be at the steve jobs cupertino gather round is what the invitation reads what i anticipate. apple will always be tight lipped but, you know, reports certainly indicate we'll see three new models including a new high end model with a 6.5 inch screen that would make at any time largest iphone ever to just put that in context, your iphone 10 come in at 8.5 inches. i was talking to someone thinking that model was coming i asked munster what could cook charge for that model. his bet is it starts at 1150 and moves up to $1300 depending on the configuration. also expected an update to the 10 and what some are referring to is possibly more budget friendly lcd phone with a 6.1 inch screen. we'll see what tim cook know when he takes the stage on september 12th >> perfect timing of that news >> i saw it coming across my screen >>> let's kick it around okay not so much the event, but th

by a 49% jump in profit, thanks to walmart in a way, and gains in that massive investment fund josh liptonan francisco with more. >> jon, softbank is known as a telecom giant. but investment acumen is driving earnings the company said operating profit in the recent quarter surged nearly 50% to $6.4 billion that was boosted by gains in the $100 billion investigativision . the fund has invested $27 billion in 29 companies from arm to slack to nvidia he doubled down on singularity >> big strategy wise in summary i would say ai is everything and strategy to be prepared for that we established softbank vision fund in the past one year we have made investment into these companies. just a year ago there was nothing. >> as cnbc's alex sherman reported, there's now a team of some 200 people to target potential investments but the driving force behind the investments is that he meets in person with every founder of every investment, sometimes several times, including last minute trips to tokyo for founders who get the call. he wants to see you tomorrow, they are told. his other stakes, sprint and th

josh, thanks josh lipton with the wall street round-up on nvidia the conference call about to start. go to you because of the weakness in crypto that was highlighted by the analysts that josh was talking to. >> you look at what nvidia does and that's the play on that and ethereum prices are much lower and there is a glut of chips throughout and a lot of minors are selling off from the equipment. so even if crypto turns around the price of ethereum turns around you may not see the pop necessarily for nvidia in the long run, if you want to play the sector, i still think nvidia is great for it, but in the long run there may be a hiccup. >> we've got the earnings and is this a further update? what's going on since the report >> with the nvidia part? >> yeah. talking about data center and what not >> i don't know, it was a change of share as opposed to the overall price shrinking. i don't know the data center was the last time for intel were really strong i think that will continue, but like dan, i'm concerned about the space. >> i just say this about crypto in particular. they've done a g

cnbc to talk about this, and i'm sure many other issues melissa, back to you >> thanks so much, josh liptonte our competitor juniper is up in the after-hours session, up 2%. >> kind of a surprising, guys in my opinion, since they last guided mid-january the dow has risen 40% and 40% of their sales come out from north america and you'll see estimate revision and a share repurchase in january and the third largest u.s. company beneficiary, and you just bought duo and they trade below market multiple. i just can't see a reason why given the confidence they have with the guy and why the stock should be below 46 any time soon again. >> it's been sideway, right? the market is likely offsides here and underpositioned in a sense and you have an opportunity for a breakout and all of the things that they mentioned on the call and they're okay and they're all right with are all of the things they're worried about. this was almost, i hate to use the word safe haven and it certainly feels that way >> biking the trend what we saw today and just when you thought it was set to get back into tech, with tech

. >> he's just laughing it off okay >> the beard right there josh lipton in san francisco it's not just kids who are ditching tv sets for their consoles and phones and investors have gaming stocks nowadays video games are crushing big media in the last three years, via com and cbs and disney up 19% and 13% in that time and it's nothing compared to the big three gaming stocks and take two, activision and ea have destroyed media stocks so that bigs the question here, have video games the tv star >> no. i don't think so i think it's shifting a kit is a huge beneficiary, that, tvs have schetted and they're doing a broadcasting and what not. in this case i still think you -- >> they will flock to watch the esports team try and beat the heat in the first-ever final for the nba, two 2k league welcome to fast. great to have you with us. what should weexpect how big is this going to be? >>. >> we think it will be huge. we had four more teams added on and we fully expect that all 30 teams to be a part of it and beyond we see this being an opportunity and we see this having a shanghai team and pla

. >> josh lipton, when we come back, after ending the week with upbeat earnings, how might retail beng tariffs. rick helfenbein will be here we'll be right back. see that's funny, i thought you traded options. i'm not really a wall street guy. what's the hesitation? eh, it just feels too complicated, you know? well sure, at first, but jj can help you with that. jj, will you break it down for this gentleman? hey, ian. you know, at td ameritrade, we can walk you through your options trades step by step until you're comfortable. i could be up for that. that's taking options trading from wall st. to main st. hey guys, wanna play some pool? eh, i'm not really a pool guy. what's the hesitation? it's just complicated. step-by-step options trading support from td ameritrade >>> hello, everyone, i'm sue herrera. oklahoma is cleaning up after severe weather rolled through the northern part of the state last night these pictures are from hard hit tulsa. heavy rain and high winds caused damage throughout that area. >>> more than two dozen people in new york city were treated for carbon monoxide

earnings, seeing shares rise after reporting a surge in revenue and average mobile monthly users josh liptonargest player in china reporting surging growth and estimates driven by core business steals climbing 61% to 89 billion. the company earned 8.04 a share. did miss estimates, they took a on

. >>> josh lipton in san francisco. apple ceo tim cook getting a $120 million payday.p >>> i'm robert frank at the pebble beach car auction this is one of the most famous movie cars ever coming up for sale can you guess which movie it was in anyone anyone anyone >>> i'm michae

board says ceo elon mu musk discussed taking the board private before yesterday's tweets >>> i'm josh lipton in las vegas. one of the largest cyber security conferences i'll introduce to the man who hacked into windows computers through cortana. >> i'm michelle caruso-cabrera many of the casino stocks have been crashing. we got the ceo of one gaming company that's bucking the trend and it's an exclusive on cnbc. don't move because the closing bell starts right now. expedia. >> good afternoon. welcome to closing bell. great to have you with us. we'll get to all of those stories in just a moment a check on the markets been a bit of a flat day dow is currently down 0.1% or 26 points swing for the dow was up five, down 70. still down russell making it split overall slightly lower >> things are very exciting in washington more exciting than the markets let's begin there. latest on new tariffs from china. >> reporter: another punch and counter punch between the u.s. and china. yesterday the trump administration finalized 25% tariffs on $16 billion in chinese goods. those have been under considerat

stocks performance has resulted in a massive payday for cook, as well we go to josh lipton in san franciscoook. >> tim cook is about to be $120 million richer today the ceo stands to earn a total of 560,000 shares as part of his compensation plan half of those shares are tied to the company's performance compared with the rest of the market performance criteria that cook requested multiply that 560,000 by the share price that's how you get to roughly $121 million apple is up nearly 35% in the 12 months tim cook at the helm of apple for seven years when he took the reigns, the company was worth about $350 billion this month, a historic milestone. the first u.s. company to reach a market value of $1 trillion. cook has launched new products like the iphone 10 and whole new product categories, too. the watch, air pods, and home pod. and used his company's cash pile on a significant program of buybacks and dividends in all, cook's realized take home pay $702 million. what does he plan to do with the money? cook has made it clear he plans to get most of his wealth to charity. in fact, just this w

let's send it over to josh lipton for more. >> if you use yahoo mail this story should interest you.wner has apparently been pitching a service to marketers that is raising eyebrows specifically relying on algorithms to scan more than 200 million inboxes and the user data they contain. the purpose is insight about products the users might be interested in purchasing. the practice extends to aol mail. company telling cnbc in a statement putting consumers in the driving seat is our top priority. interest based advertising around yahoo mail does not use personally identifiable information and is developed using only commercial e-mails and never personal e-mails. in other words, this practice focuses just on e-mails from retailers announcing a sale and not e-mails between friends and family. company also emphasizes that users can opt out of the process. still the practice does put oath at odds with other companies. google stopped scanning e-mails in consumer g mail for ads last year. it never scanned e-mails for ads targeting enterprise versions. microsoft telling us we do not use e-mail

in san francisco with the details, josh lipton. >> mel, circle this date on your calendar, september 12th, when apple is hosting its next big special event at its campus in cupertino. gather round is all the invite says apple, as always, is tight lipped reports from the media and street indicate free new iphones could be on the way, high-end model with a 6.5" display, largest iphone by far. the iphone x has a 5.8" display. i talked to gene munster who thinks that cook could charge $1,150 and maybe all the way up to $1,300, depending on the configuration. also anticipated, that ceo tim cook will take that stage and unveil an upgrade to the iphone x and what some are calling a budget-friendly phone with a 6.1" screen. the new high-end phone, munster thinks, will sell well as the iphone x has, giving new lift to the company. >> thank you, josh >> warren buffett speaking first on cnbc with our becky quick about the stock market, the economy and the fed. becky is live in new york now. hi, beck. >> i contessa, good to see you guys we've been watching the last self-d d several days the mark

josh lipton with those details >> applied materials reporting earnings per share here of $1.20.sus $4.43 billion. revenue they're looking for 3.85 to 4.15 billion. just looking at the segments here, sara, semiconductor systems net sales of 2.75 billion applied global services the net sales coming in at 554 million >> i want to get a look at how we finished the day on wall street let's take a look at the dow >> higher. >> it is higher. did you hear about that? it's up 396 points s&p 500 up about 22 points nasdaq up about 32 points and russell 2000 up about 15 points. for every listening on the radio that's how you do it >> let's get to some of the other big stories today in our rapid recap. >> china says new trade talks with the u.s. are set to take place later this month >> without getting into any details i just think this is good thing better to talk than not talk >> these uncertainties with trade, the election, the fed being on the aggressive side i believe towards the end of the year i think are going to keep a cap on any real surging stock market we have >> wal-mart reporti

josh lipton joins us now from san francisco. hey, josh. >> morgan, for those doubting the pricing strategy of $1,000 phones, this quarter appeared to prove them wrong the average sales price of iphones surged to a much stronger than expected $724. the street, remember, was looking for $694 tim cook telling me in an interview if you look at the iphones that most recently launched, so that includes the x, the 8 and the 8 plus, they grew very, very nicely in the quarter. we also took channel inventories down on iphone by 3.5 million units, and so the underlying demand is even stronger than the units imply. companies services business also firing on all cylinders, surging 31% to nearly $10 billion in the quarter. cook saying apple pay expanded with well over 1 billion transactions, more total transactions than square, and that's more mobile transactions than paypal, he said while apple is trading at all-time highs today, apple's cfo says the company still looks relatively cheap, telling cnbc, we trade at a discount to the s&p. we tra

. >>> i'm josh lipton in san francisco. big reversal why the chinese stock turned south this morning >>> the new popular video game fortnight may have reached

josh lipton joins us now from san francisco with more. h >> morgan, the japanese telecom giant did say operating profit jumped nearly 50% to 715 billion yen or $6.4 billion in the period ended june 30th helped by investment gains in the vision fund specifically the sale of its stake in flipkart and the ceo is hunting for more. >> translator: we want to have global companies in our group. globally most advanced companies will downus. -- join us as our family and those companies will come to japan with new technology, new business model, and with service offerings. >> now he formed vision fund last year. backers include saudi arabia and apple. the fund has invested $27 billion in29 companies from th end of june. he also talked about how synergies will be used to help those companies grow in the future fund stakes are now worth $32.5 billion. on sprint in that $27 billion proposed merger with t-moblie, he says they are working hard to move that merger forward as it builds its strategy. back to you. >> thank you >>> coming up, much more from o

josh lipton has more on the big report out in san francisco. andrew, apple shipped 41.3 million iphones in the quarter, just shy of estimates. though the average sales price of those phones surged to a much stronger than expected $724. thanks to the popularity of its high end devices tim cook telling me in an interview if you look at the iphones that most recently launched so that includes the x, the 8, and the 8 plus grew very nicely we also took channel inventories down on the iphone by 3. nt 5 million units and so the underlying demand is even stronger than the units imply. i also talked to cook about china where he said the x was the most popular smartphone in urban china for the second quarter in a row on the call he addressed trade tensions with china and other nations making it clear he is no fan of tariffs >> our view on tariffs is they show up as a tax on the consumer and wind up resulting in lower economic growth. and sometimes can bring about risk of underintended consequences >> revenue swelling to nearly $10 billion of services. coo