for "nightly business report", i'm josh lipton in san francisco. >>> u.s.d that is where we begin tonight's market focus with the company sayin it plans to layoff nearly 200 workers at a michigan plant because of low prices and softd dem for steel. the steelmaker says that the lay-offs will affect employees in nearly every area of the facility and it could lastix beyond months. shares were down a fraction today to 12.31. >>> medtronics saw an increase in demand for its surgical instrument d andbetes devices, which helped the company top wall street estimates. the medical device maker also raised itsfu -year outlook. stock rose more than 2% today to 106.91. >>> madison square garden posted a wider than expected loss and it fell short of expectations. the entertainment and sports operator was ht by increased personnel costs and expenses connected to a proposed spin-off of the company's spos business. shares dropped nearly 9%oday to 267.33. >>> cigna is reportedly seeking a sale of its group benefits insurance business, which could be worth nearly b $6lion. re

for "nightl josh lipton, san francisco. >>> it ie tim to take a look at some of today's upgrades and downgrades. lyft was upgraded to buy from neutral. the analyst cites factors including risin fares and expects the ride hailing company years sooner than his previous estimate. the price target is s$60. thck gained 4% to $51.21. dish you've graded to strong buy from market perform at raymond james. e analyst says the company is as a paid tv service only or ays expands into. 5g wirele the price target is $44. the stock was up about 4%o $32.26. locker was downgraded to neutral from positive at is que hannah. the s analys the company's outlook is optimistic. price target $39. the stock finished up almost 5% on the trading day. >>> still ahead, a judge rules against johnson & johnson in an opioid lawsuit. why is the decision a relief to shareholders? >>> a legal ruling against johnson & johnson in a landmark case ran an oklahoma judge said the company helped fuel that state's opioid crisis and ordered it to pay the state about $570 million. this is the first trial in the u.s. seeking t a

josh lipton is live tonight in san francisco. josh >> so sarah, tech tanked today one of the worst performing sectors in the market. the tech sector we know it is climbing 20% china is an important market and a key part of their supply chain. so look at the hood of the tech sector and apple got hit in today's trade closing down more than 4%. china an important market for the iphone maker it's where many products are assembled. remember, president trump praising apple ceo tim cook this week calling him a great executive. also in the red, you mentioned the semis. the etf that tracks the chips finishing down 5%. its worse day in two weeks amd, nvidia and broadcom hit hea hard he acknowledges the risks but bets they can take share from intel in the data center for a tech investor, it was not easy to find green on the screen today but one notable exception here, selales force ending the a higher sarah, back to you. >> we'll turn to the u.s. stocks with the most exposure to china. >> let's start with cnbc's trade. it tracks the most re

for "nightly business report", i'm josh lipton in san francisco. >>> and the quarter wasn't any betterseither. it is facing a number of issues from higher costs from t diffs p discounts that eat into profits. the department store chain missed profit recast for the first time in two years and cut its refull-year st at the same time. that stock -- it sent the stock down 13% today in the session. courtney reagan has more on the mess at macy's. >> reporter: macy's quarter didn't go as planned. some of the department store's women's clothing disappointed shoppers, sales ofarm weather apparel was slow and international tourist spending was down. internationals touri typically buy full-price merchandise and make few to no returns. as a result, macy's discounted merchandise more than planned to ttice consumers boy and it took a big bite out of earnings. the ceo told us, we took our medicine, we took almost a full point of margin with the additional mark downs, adding, we needed to protect fall. still, there are headwinds and uncertainty ahead. macy's lowered its annual earnings forecast to ref

day in seven weeks, up better than 2% today >>> coming up, two very different takes on tariffs josh lipton has the first. >> kelly, apple's wearables could be hit by a 15% tariff on september 1st. a look at how much that could cost the company and potentially the consumer now to ylon mui in manhattan beach, california. >> out here on the beach, surfboardmakers are telling me they are totally stoked about president trump's new tariffs. i'm going to take you inside the mi uneksp der shop worho congp xt rowing business. from using feedback to innovate... to introducing products faster... to managing website inventory... and network bandwidth. giving you a nice big edge over your competition. that's the power of edge-to-edge intelligence. >>> welcome back from wearables to you are surf boards, tariffs mean different things to different businesses josh lipton is live in san francisco with a look at apple embracing for tariffs while elon is in manhattan beach with a business begging for them. >> apple's watch and air pods could face a 5% tariff starting september 1st. these products are a bright

the move after reporting we have full team coverage contessa brewer standing by we start off with josh liptonancisco. josh. >> reporter: so, i talked to analysts that cover box and one point of concern that they have is the company's growth rate today they say 130% and now roughly half that. i asked them about the needs and he said to grow faster they're advancing product portfolios, trying to deliver more solutions for customers, pointed out their simplifying their go-to-market strategy. i wanted to get his take on the state and health of i.t. spending here more broadly aaron saying the i.t. market remains fairly stable, though trade disputes and tariffs don't make for a stable macro environment. on the call he is hammering home on the same themes listen, we are involving the product, introducing new products, we're working hard, he said, to improve go-to-market efforts. noted they were making progress in his words on training, for example 36% growth is $100,000 deals. note the large install base of customers, strong product roadmap, making the case he sees opportunities ahead but you see th

josh lipton in san francisco with more on all of this hey, josh. >> reporter: melissa, we talk about tim cook's skills as an executive, as a supply chain editor and as a diplomat he has kept the lines of communication open with this white house. how well will that now serve cook as apple navigates the trade tensions and tariff threats? a test is coming up. apple could face 15% tear ifs beginning september 1st. apple has sold an estimated 80 million watches and 50 millionaire pods they could decide to absorb it at a cost of 500 million dollars or it could pass along price increases to consumers analysts are more concerned about potential levies imposed on the iphone possibly coming on december 15 it if apple is hit with the potential tariffs, evercore estimates it could take a hit of at least $5 billion. there is another possibility, that company earns exemption for the tariffs. the president said he thought cook made a good case when it comes to the levies. >> tim was talking to me about tariffs. one of the things, he made a good case, is that samsung is their number one competitor a

the move after reportingresults julia boorstin is standing by on pintrest, but let's begin with josh liptonh square's quarter. >> reporter: i checked in with john over at jeffreys. some reasons include the gross payment volume, growth decelerating, expense is higher so the take rate margins were higher q3 guidance was weaker than expected some big news here, square announced door dash has agreed to buy caviar, its food-ordering platform for 410 million, a mix of cash and door dash preferred stock. remember, square paid 44 million for it back in 2014. jack dorsey talking about the decision right off the top of the call take a listen. >> to increase our focus we decided to sell our caviar business to door dash. this enables us to focus on serving restaurant and food sellers through a platform approach, specifically our orders api and square for restaurants. door dash was an obvious choice for us because of our preexisting partnership through orders api and cash up both companies have an alignment of interests to strengthen our partnership. >> reporter: but john hekt over jeffrey just based on

. >> all right we have a news alert on vmware and hp josh lipton has the details on both of the storiesfrancisco. josh. >> reporter: so, melissa, let's start with hp here and reporting results, but the big news here was ceo wiseler is stepping down served as ceo since 2015 is going to remain a director on the board. the company has appoint edden re-kay lores to take over as president and ceo effective november 1 i had a chance to spre briefly with dion about this he said it was made because of what he called a family health matter he will be returning to australia. he said, listen, the personal value has been to put family above all else he is living the value with the decision, but stressed to me he believes he is leaving the company in a strong position switching gears to vmware, they had results as well, but their big news is with the deal news acquiring pivotal and carbon black in deals valued at a total of $4.8 billion. vmware's largest acquisition to date, building on its strength here, helping companies run software in their own data centers but obviously moving the company more

let's get to josh lipton in san francisco with the details josh. >> reporter: so i caught up quicklyrbc's mitch steves who covers the name. he basically the important stuff was in line, but the guidance mitch is saying weak on both the bottom and the top that tells us, he says, more broadly that overall i.t. spending could be slowing down here, too. on the call right off the top, ceo chuck robins was asked about the guidance and he picked off a couple of different themes one is continued challenges in service providers, so that would include your carriers, traditional carriers, mobile carriers america is basically the same. europe was positive. asia though continues weakening. i did see indications, chuck robbins saying, of macro shifts we didn't see in the prior quarter. not as strong finish as you would expect to q4 he said he was amazed by the resilience of the economy and hoped it can bounce back with resolution to some of the issues on china he said they saw a significant impact on the business in china as relates to what is going on with the trade war right now. overall china n

josh lipton has more from san francisco. >> reporter: and jon, a $1,000 investment in google at the time of its ipo would now be worth about $28,000 since its public market debut 15 years ago. google has surged more than 2600%. the company's growth has been fueled in part by its big bets on acquisitions, some of which worked out well for the search giant, others a mixed bag. for example there is youtube which the company bought for $1.7 billion in 2006 the video streaming power house now generates an estimated $20 billion in ad revenue per year and then double click it agreed to pay over $3 billion for back in '07 that advertising platform has power google's ad business its biggest acquisition, $12.5 billion for motorola mobility in 2012, less than two years later, sold the smartphone business to lenovo, but google did get to keep most of motorola's portfolio of valuable mobile pal tent patents. to date 40% more than amazon on acquisitions but could increasing regulatory scrutiny hammer google's opportunity to do more deals in the years ahead? the cfo recently told me she is still open t

let's get to josh lipton in san francisco with the story behind this josh. >> reporter: so, melissa,adcom making it official they're going to acquire the security business of symantec for 10.7 billions in cash. there's a conference call going on, hock tan saying it has strengthened the company's position across hardware and software, it was the logical next step for broadcom following the acquisitions it says there will be meaningful cross selling opportunities. he says that this is going to drive more than 2 billion of sustainable incremental revenues and generate more than 1 billion, hock tan saying, of run rate cost energies within 12 months. interesting, i checked in with bernstein, stacey, who covers broadcom he says you can make the case why it makes strategic sense you are adding cybersecurity software to your portfolio but he notes questions to be considered, he notes symantec has operating margins in the high 40s versus low teens for the enterprise segment and the enterprise segment is facing competition from companies like crowdstrike and prove point. back to you. >> thanks

since thenas the stock surged more than 2600% ands josh lipton reports, that's due in part to its acquisition strategy. >> reporter: a $1,000 investment in google at the time of its ipo would now be wor about $28,000 in part because of its major thacquisitions. e's youtube, which the company bought for more than $1.5 billion in 2006. theideo streaming powerhouse now generates an estimated 20 billion in ad revenue per year there's also double click which it bought for over $3 billion in 2007. that advertising platform helped power google's ad busines still accounts for the vast bujority of alphabet's total revenue. its biggest acquisition so far, more than 12 billion for motorola mobility in 2012. less than two years lat it sold motorola's smartphone busine to lenovo for 3 billion but googleo did get keep most of the portfolio of mobile patents offering the company legal protection for its android operatg system. to date alphabet has spent over 32 billion on acquisions, 40% more than amazon. almost 500% more tn apple. what about the quarters and years ahead? some analysts thi increasing regula

josh lipton is in san francisco. >> the u.s.ent paints a down beat picture saying year to indicate sales of electronics and appliance stores total about $57 billion and that will be a dron drop of 4.4% but a lot of people buy their gadgets on line oig. so if you take that into account, the consumer electronics market is actually doing okay growing in the low single digits and within that, which categories are growing strongly? baker points to smart home products like smart speaker, thermostats and doorbells. health and fitness is another strong category. apple has you now sold 80 million of its watches and then the airpod 2s 50 million have been sold of those. and on thppenheimer sees steady consumer demand for big screen tvs. and as for pcs, certain sub segments therelike gaming pcs remain in demand so which categories were under pressure that includes basic head phone, smaller screen tvs and thanks in part to smartphone, the point and shoot cameras as well. and speaking of smartphones, the u.s. smartphone market will decline a

back to you. >> thank you very much josh lipton. citi, bank of america, jpm and wells fargo are among the hardest hit today. are there any buys in this wreckage bill baruk and erin gibbs both join me. bill, i'll start with you. they say crisis like this can be the best time to invest. but did the signs just keep getting worse if you're an investor in the financials here? >> interesting angle from the start of 2017 in through this june, we have futures that were bullish on the treasury complex one main reason was the massive mounting of a record number short position in the complex. in the future. leverage this was a ticking time bomb it was going to explode at some time and it is exploding now we're seeing capitulation. we're seeing recordo yields. this proves to be a capitulation, there will be opportunity. where are there constructive charts in the banks now. goldman sachs is one of them there is a nice channel from the december low trend line going up. just below 195 is the trend line hitting the moving average there is good supp

josh lipton with that. >> activision reporting eps of 38 cents versus expectations of 26 cents revenuef $1.21 billion versus expectations of $1.19 billion so beats on the bottom and the top. the q3 guideness lighter than what analysts were looking for the street was at 40 cents on $1.36 billion. for the year they do slightly race their eps forecast. they're calling for $2.15 on revenue of $6.3 billion. the ceo in a statement to cnbc telling us the early response to call of duty modern warfare has been the strongest we've seen in years and we have a number of exciting announcements to come, including the largest post-launch content pipeline in franchise history. we're also bringing call of duty to mobile as well as the professional e-sports landscape with the upcoming call of duty e-sports league in 2020. in terms of engagement, they're saying total hours played in call of duty rose double digits year over year ac activision 327 million active users. the conference call kicks off at 4:30 eastern back to you. >> all right, josh, thank you. a mixed bag there. take your pick, mike. >> ther

sticking with apple upping its spending on original content ahead of its streaming service launch josh lipton has more from san francisco. josh >> so, i spoke to tim cook when the company last reported results and i asked him about apple tv plus. how is he going to define its success, by the number of subscribers? cook telling me, initially with a subscription business the most important thing is, one, the product. and, two, the number of subscribers and whether we are going to announce that or not, i don't know we don't aspire to have the biggest audience we want a curated best experience how much is he willing to spend for that $6 billion on original tv shows and movies according to a new report from the financial times, apple declined comment on that report though some are disputing that number nbc news media reporter dylan byers was on cnbc saying at these according to his sources the number is a lot less but cook knows he's entering an increasingly crowded field that will include netflix, disney, nbcuniversal and amazon and say they are considering $10 a month for the service, $3 more th

josh lipton is tracking tariff concerns for apple kayla?> the hope began when chinese officials said there was some effective communication of the two countries and it continued this morning when president trump said in a radio interview there's a conversation scheduled today. >> i have talked scheduled there's a talk scheduled for today at a different level and yeah, they have been talking. let's see what the end product is i think that's what you have to judge it by. >> beijing wants washington to shelf tariffs but the u.s. trade representative filed legal notice for the tariffs to go into effect september 1st. sara >> thank you mixed bag for the retail sector today following a slew of earnings before the bell courtney has the details. >> best buy with a mixed quarter, raised the earnings forecast and lowered the high end of the revenue forecast. tariffs impact 60% of the cost of goods sold and the ceo thinks the impact substantially less due to the mitigation strategies it is creating uncertainty and expects gaming to be soft. dollar tre

josh lipton's here with the details. >> what will tim cook unveil at the company's big annual iphones according to bloomberg saying they look like the current lineup but a new camera system quality is often kritded as an important haven't why consumers upgrade and expected to upgrade video recording, faster processors, also in the pipeline upgrades to ipads, the largest laptop in years and new versions of the watch as well as updates to airpods analysts think they sold 50 million of those already guys, back the you. >> thank you. >>> meantime apple out with some warnings for its card holders. the titanic apple cards not stored in the wallet or your jean pocket. tech giant saidit might cause fabrics like leather or denim disco lar ration that will not wash off and other rules in there. store your card in a wallet or a bag made of soft materials don't place them in the place that contains keys and potentially other abrasive objects. that's some tough rules for a credit card. >> just stick it in the wallet >> you can >> you have to be careful. >> to me it says everything about how -- >>

josh lipton has that story for us josh >> so bill, 15 years later, and google rules the online ad marketn part, benefitting from some big bets on acquisitions so for example, there is youtube, which the company bought for $1.7 billion back in 2006 today, it has generated an estimated $20 billion in ad revenue, and that's per year then there was double click, which it agreed to pay over $3 billion for back in '07. that advertising platform helps power google's ad business its biggest acquisition, what you mentioned, more than $12 billion for motorola mobility in 2012 less than two years later, it sold motorola's smartphone business to lenovo, but google did get to keep most of motorola's portfolio of mobile patents. now the question, what does google buy next? analysts who cover the company say it's not going to try to make a big bet in the internet ad market. the market share is too big, and also that increasing regulatory scrutiny feeling from here and abroad they do, think, google could try to keep making relatively small to midsized bets in the cloud market as it tries to narrow the g

we'll see. >> josh lipton, thank you.mike mentioned a few moments hearing from federal reserve vice chair richard clarida nancy tengler is still with us and jeremy siegel joins us by phone. professor siegel, your thoughts on the action and the tweet storm that caused the action on wall street today and just in terms of how much of a game changer if at all this was >> well, president trump is playing a game of chicken and i don't think the stock market likes it at all. it's my belief, i've said this, at the end you can turn the steering wheel awayality the last moment. this is his way of getting a deal but if he, you know, keeps on threatening tariffs and raising tariffs, it's going to be very bad market and economy they know that and will try to get the best deal he can i'm not surprised at this ramping up that would cause up 700-point drop in the dow. >> jeff, only this additional escalation not welcome we have pretty firm i guess resolve on the fed's part, probably after today's news, that it will be easing in september

josh lipton explains from san francisco. hey, josh. >> so, wilf, that's right.emember, there are a lot of fans of these wearables. apple has now sold an estimated 80 million watches and 50 million air pods so how could apple respond well, it could absorb the tariffs entirely analysts estimate that could cost the company $500 million. or apple could try to pass along price increases to consumers that, of course, risks denting demand evercore's more concerned about levees hitting the iphone. the apple is hit with all potential tariffs. he says the company could take a hit of at least $5 billion to its bottom line, and that is real money, amounting to about 10% of the company's free cash flow on the other hand, we know tim cook seems to have friends in high places. president trump recently praising cook as a great executive and said cook made a great case about why competing with samsung would be tough if iphones get hit with such import tariffs. >> tim was talking to me about tariffs. and you know, one of the things and he made a good case is that samsung is their

they didn't say it was going to be that, but we know, in just a few days, september 10th josh lipton s us from san francisco with what we know about the event so far josh >> so, jon, by innovation only, that's what official apple invitation says. this year's event will take place on september 10th at the steve jobs theater, which is locketed at apple's headquarters they are in cupertino, california starting at 10:00 a.m. local now, this is the event where ceo tim cook doestypically take th stage along with other executives like phil shiller and jeff williams and announces new iphone models. as always, apple is tight-lipped about what's coming, but the company is expected to announce three new iphones. reports suggest a successor to the lower-priced 10r and two pro models, upgrades to the iphone x xs and xsx in addition to phones, the company also usually unveils a new apple watch at this event, even as the iphone franchise has been under pressure, with iphone revenue declining 12% in its last reported quarter, we know wearables have been a bright spot for the company apple has now sol

. >>> getting some breaking news on apple, josh lipton has more from san francisco. >> news here on apple guardian" is reporting that hundreds of apple workers in europe and these were employed through contracting firms who were working to check seiri recordings for errors are out of work apple had suspended that program. that story revealed how workers could hear information while checking siri recordings apple did emphasize from the beginning that the data sent back was encrypted and randomized importantly, apple also is putting out a release saying, listen, it's going to resume what it calls its grading program later this year. there are going to be some changes including apple saying it will no longer retain audio recordings of siri interactions and users will be able to opt in to help siri approve only apple employees will be allow ed to listen to audio sampl samples. some changes coming to that grading program. >>> shares of autodesk getting slammed in today's session after lowering its fiscal 2020 earnings forecast. the ceo joins us in another exclusive interview right rehe on "squ

we've got some news i want to get to josh lipton out on the west coast with some news on apple for us josh >> reporter: that's right, scott. so news on apple, the invitation is out, scott, and it says by innovation only please join us for an apple special event at the steve jobs theater in cupertino september 10th at 10:00 a.m. of course, scott, this would be the event where typically apple's ceo tim cook takes the stage, introduces the new iphones. this year the analysts think the new iphones may look a lot like the current iphone lineup. we would expect new changes, new features, improved camera system, for example, is at least expected to be a big selling point. that is important when you look at surveys consumers often look to cameras as a reason to upgrade as for the iphone franchise, that's been under pressure iphone revenue did drop about 12%. that was a sequential improvement. we know cook has been pulling certain levers there, trade and financing programs to spur demand the invitation is out, scott, september 10th, so a.10:00 a.m. mark your calendars. >> i'm going to be out t

although earlier the session high was about 520 let's get to josh lipton with more on the move in tech stocks today. hey, josh. >> carl, check out apple here. ripping higher off these headlines. investors clearly cheering this decision by the trump administration to delay tariffs on certain items, include cell phones, until december 15th. and that could havecertainly placed apple in a tough spot, because remember, so many of its products are assembled in china. and millions of chinese working to put together different parts of iphones and ipads so tariffs could have required tim cook and of course, many other american executives to make a tough decision, absorb the tariffs and impact his bottom line. in fact, just this morning, you saw wedbush saying, if apple fully absorbed the tariffs, they think it could reduce 2020 epps by as much as 55 cents or cook alternatively could try to pass along prices to consumers, but that could possibly dent demand for the products wedbush saying it could mean a hit to iphone demand by roughly 8 million iphones in the u.s. alone. remember, analysts did

telling josh lipton that the volatility of trade disputes and tariffs does not make for a stable macroth feeding on the bottom line. five below missing with guidance largely below expectations the only spot below, the guests reporting numbers and jumping after hours. >> the over-all-american consumer may be strong right now but spending by the wealthy is slowing down our robert frank looking at what it could mean from the broader economy. robert. >> hey, sarah. spending by the top 20% has fallen below 2017 levels economists worry about what they call a trickle down recession. luxury real estate is having the worse year since the sale of homes priced at 1.5 million falling by 5% in the second quarter. there's a three-year supply of mansions and luxury homes in aspen, the hamptons, miami, other high-end areas retailers are struggling with barny's filing for bankruptcy, nordstrom posting three-quarters of declines. the share of national spending of the top 10% of consumers is falli falling while the middle class consumer is picking up the slack. mark zandi writes, if high-income consumers

josh lipton? >> go pro an eps of 3 cents and expectations of 4 cents and revenue of $292 million.o on the bottom and top, the company says it will be raising its outlook for the second half of this year camera units $1.1 million. their subscription service surpassed active paying subscribers so that's up 15% did you know that in june go pro, they say in mexico. remember they had told us they had this plan to insulate against possible tariffs back to you. >> josh, thank you go pro down 5% the standout, up a healthy -- do you have it coming up again? >> it's up double digits and up to a price it hasn't seen since, i think, may 1st it had this big spike after the ipo and really raising revenue guidance and also kind of improving their guidance for cash flow for the rest of the year it's impressive. it fits in with the theme of pretty much every social media player outperformed expectations this quarter at the same time you are seeing a lot of the consumer products companies seeming like they figured out the digital advertising being better i think it's impressive with pinterest. the

stocks fading once again dow down 112 right after the bell, earnings of hpe josh lipton has a preview hpe expected to return 40 crepts on revenue of 7.3 billion. the company's biggest segment hybrid i.t. -- the rivals of del and nova and 5.7 billion for the quarter. analysts are interested in what the ceo says about the state and health of i.t. spending right now. cisco did suggest macro softness does neri see the same and worry that they have to lower prices back to you. >> josh, thank you. >>> the results after the close once they hit the tape we have five minutes left to go in today's session it is time now for the closing countdown. joining us to trade the close is kevin hanks at td ameritrade great to have you. we started with the dow up triple digits. what are you watching into this close? >> what we really saw today was an early morning bond rally which really took some of the steam out of the regional banks and the russell and the weakness in the russell just seemed to kind of bleed into the other indices and we just got weaker as the day went on but some of the impetus for to

. >> let's go to josh lipton in san francisco with a look at tech names moving on this optimistic tradeontessa, the trump administration saying it will tla tariffs initially set to go in effect on september 1st until december 15th for certain articles including electronics check out apple rallying off that headline. the iphone maker seen as vulnerable to those potential tariffs because though it designs all its products in cupertino, austin, many assembled in china, physically putting together iphones and ipods. if such tariffs went into effect apple might have to absorb or try to pass price increases to consumers, that would potentially dent at the manned remember analyst tim cook had other levers he could pull here like moving assembly work out of china, into vietnam or india apple suppliers rallying, check out corning, skyworks, all moving into the green. >> before a break let's check the markets, dow jones industrial up almost 2% on the day. s&p 500 moving higher by 1.75% nasdaq above 2% on the day all sectors on the nasdaq except for utilities moving hhe more "squawk on the street"

in this time, popular apple products are in the line of fire josh lipton joins us now with more hey, nd airpods could face 15% tariffs beginning september 1st. now, these products are bright spots for the company. loop ventures estimates apple has sold 80 million watches and 15 million air pods, so they could absorb them entirely analysts commitment they can cost them $500 million or apple can pass on price increases to consumers. >> that risks denting demand, evercore is actually more worried, he tells me, about levies hitting the iphone possibly coming december 15th. if apple is hit with all these potential tariffs, he says the company could take a hit of at least $5 billion to its bottom line but there is another possibility here >> that the u.s. government decides to except apple from these tariffs. in fact, president trump, remember, recently said tim cook did make a persuasive case when he argued that tariffs on his smartphones put his company at a competitive disadvantage >> tim was talking to me about tariffs. and you know one of the things, he made a good case, that sumle zas

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