about tim cook and how he has led stewardship of the company through all kinds of cross currents josh lipton joins us to talk more about that. josh, it's funny to look at that change of market cap and think back to some of the more cautionary calls we've gotten in the past few weeks from the likes of b of a who worry about margin pressure on phones, margin pressure on services, less impact from the buyback and so forth >> yeah. listen, you look at this recent run, carl, obviously they had those earnings in late july that blue past the street's expectation. you saw strong growth in sales of the new low cost iphone sc. you can chalk this recent run to a few big trends one, they'll say listen in uncertain times cash is king and obviously apple has a lot of it, net cash position of $81 billion and counting also, that work from home trend is clearly helping apple or at least certain apple products and services again, look at the last earnings report, max sales, ipad sales much stronger than the street was looking for. finally clearly here what you're seeing is a lot of investors are betting in th

we start with josh lipton on take two josh >> so, melissa, i checked in with michael over at webb bush who's covered this name and this industry for a long time pachter would point to that bottom line beat, q2 guidance he would call very strong, yes. guidance revenue expected to be down sequentially but pachter says that's likely to prove conservative results were driven by a few key franchises, nba 2 k achieved $1 billion in net bookings since the launch now, engagement increasing grand theft auto v continues to exceed expectations. it has sold in 135 million units. grand theft auto online on track to establish a new net bookings record he says the company has the strongest development pipeline in its history it is double what it was five years ago and he says they're preparing for this transition to a no-console cycle that will be a better platform for audiences. he was asked about the lasting impact of the pandemic, the lockdown, the environment we're in, saying it's hard to predict but he thinks this has intensified the shift to new interactive entertainment, people have come back

sends the stock to levels even the most bullish apple analysts would not have thought possible josh liptonus hi, josh >> that's right, tyler apple hitting $520 in today's trade. you can see here, that is higher than the most bullish forecast on the street. the average price target actually implies a 15% drop from these levels the highest target right now, that would go to mr. dan ines at webbush. the stock we know has been on a terror surging 70% this year, 150% over the past 12 months hitting the milestone last week. the first publicly traded u.s. company to reach a market cap of $2 trillion. and this coming ahead of a big day for investors. with apple enacting the new four for one stock split. each apple shareholder at the close of business today receiving three additional shares for every share they hold trading will will then begin on a split adjusted basis on august 31st so why do this apple's cfo telling me retail investors are important to us. and the stock now at the price where it is today we can bring it down to a level that is more affordable to a lot of people that have an inte

we'll continue this oil conversation in a moment ipo market got some news josh lipton has the details. josh >> reporter: palantir filed the s-1. just started coming the documents. first half of 2020 up 49% from the first half of 2019 the net loss here clocks in at 164.7 million. that is a decrease in a comparable period a year ago, it was 280.5 million. in 2019 they say their net loss was closer to 580 million. we'll keep looking through this document and bring you more metrics as we get them certainly this day a long time coming this is a company that was created in 2003. palantir provides software to customers. they use that to pull in and integrate volumes of disparate data, everything from images to spreadsheets you pull that into a central platform and then you can use that to analyze that, excerpt that, make sense of all that data first really came to prominence in its work with government agencies the ceo said in the world of software there's stuff that doesn't work well, it's not useful he argued his software very useful, he told me, in some cases deadly what he meant by that

. >> welcome back to "fast money" and earnings on palo alto, and josh lipton has the latest. hey, josh. >> so, melissa, i checked in with andrew nowinski and he would say this is a fantastic quarter, and the beat on the billings, and one of the biggest beats for the company. and product and subscription segments exceeding expectations, and he se noting the upside in the q 4 billings and that clocked in at 1.4 billion didn't flow through into this october guidance, and that is going to explain andy saying that some of the disappointment in the afternoon hours. and to catch aurora on the after hours call, they said they have adapted and posted great results and noted that some companies are more cash conscious, and the macro environment is still uncertain. and speaking of the trends in 2021, the work from home will challenge his hardwarend it is h quarter ahead, but that should be supplemented with more software solutions. and that was also with the q4 certainty, they said uncertainty, and they needed to be prudent. they talked about the $265 million acquisition of the cryptus g

josh lipton has more for us. josh >> so wilf, remember when tim cook was named apple's ceo back in august 2011 at that point, the market cap for his company was around $360 billion. fast forward to today. as you mentioned, apple hitting a market cap of $2 trillion. the first publicly traded u.s. company to reach that milestone, doubling in valuation in just over two years remember apple first reached $1 trillion in august 2018. stock hassen about on a tear soaring 68% in the last year, last 12 months surging more than 120% apple reported and easily beat expectations when reported late july highlight three broad reasons for apple's recent run cash is king in uncertain times. the app we know has a lot of it with a net cash position of $81 billion. two, apple is benefiting from the work from home trend, too, certainly with its mac and ipad lines. finally many investors obviously this it's well positioned to capitalize on trends, like 5g, digital health and wearables in july luca maestri, it's the size of a business d

it's a big day so let's get to josh lipton with more josh >> that's right, pry brian apple will be enactinghe new four for one stock split so here's what that means. each apple shareholder will receive three additional shares for every share they hold. trading will then begin on a split adjusted basis on august 31st point here, lower the stock price and attract more invetors. plit comes after a strong run for apple, up 70% now. question is whether there is more room to run morgue an stanley just raising her price target to a new street high of $520 worth noting, the average price target actually implies a 15% drop from these levels guys, back to you. >> all right josh lipton, thank you very much i go back to that as well. i understand, listen, stocks splits, they matter. people buy just the split. but apple is a bit unique. because the dow is a price market index, don't you kind of have to split if you start to get up in apple's territory? pretty soon, you're not just a part of the dow, you are the dow. they were kind of in a unique spot >> they were i don't know how much attention they pay

josh lipton has that >> we have some news here on microsoft. reporting that microsoft is finding deals with foreign governments to offer cloud packages this would be like the bundle they assembled for the d.o.d., the pentagon, that contract up to $10 billion over ten years. that's being contested by amazon but microsoft already has relationships with foreign governments. amazon, microsoft go head to head in 2019 amazon controlled about 50% of that market and microsoft controlled about 15% of it market share up 15 in after hours. >> for more, head over to cnbc.com, read more about that story that josh just talked about from our crack team there. tim seymour, another stock not as superlative as apple but has been a monster of a moneymaker. >> if you look at a five-year chart on microsoft, it's a better chart the turnaround that started has been all about the cloud, has been all about enterprise. microsoft teams is going to be taking market share. there's a major argument you'd be buying that and selling zoom as you look to even just where some of

back to you. >> josh lipton, thank you.ike, take your pick activision or disney we knew this was going to be a good one >> the market knew it. the stock has been really in liftoff mode for a while it's at a high previous high is late 2018. it confirms the strength we know they're in a sweet spot. disney, i think first blush there is disappointment on the subnumber. some forecasts were higher than $57.5 million. certainly there is sensitivity about the pacing of net ads in it disney plus subscribers given the fact it would seem everything is going right in terms of stay at home and everything else for new subs in that area. otherwise, i don't think this is a radical reaction to what they showed us in the quarter it's still a wait and see story. >> the cost savings did allow a decent beat on the bottom line will eight cents adjusted compared to estimates for 64 cents loss of course, the question will be whether the cost savings are sustainable. the bottom line beat explaining why shares recovered a little bit from the initial

. >>> it has been a busy morning let's get now to josh lipton josh, other ver to you >> thank you forthe time to chat today. >> thank you for being here. >> your stock was up about 120% from it's march lows you're surging higher again here today. one big reason, investors are computed about what they see here and it is an improved profitability. it is about 16% in the quarter what explains that trend and is it sustainable here? >> we were very happy about the quarter that we just put up. stabilizing the growth rates 11% revenue growth, over 15% operating margin 16% operating margin nap is something we have been driving for the last year or so. driving a better balance between growth and profitability it was 12% or 13% operating margin for the year. so we think these are susz tanble and we want to continue to drive them going forward. we are happy with the efficiency and the ability to empower kmirs in the dynamic landscape >> some of the headwinds, like every other tech company you're dealing with a very unusual challenging environment and economy that is having an impact softness acr

. >> if, if, if we still need 100 more like that supply wise let let's get to josh lipton about hp'sr the bell >> so heading into this earnings report, there should be tail winds for hp the pc market has been showing strength more people now working, learning and playing at home the question is how long that strength continues but there are potential headwinds, too investors going to closely monitor the printing segment, specifically supplies meaning ink and toner. of course, they think supplies revenue will be down 21% year over year. what is the trajectory of the supplies business? investors want to know in the quarters ahead back to you. >> josh, lipton, thank you we've got two minutes left in the trading day. mike, you've got more on the market internals what are we seeing as we march to a record close? >> they improved from earlier. mixed at the start of the day. new york stock exchange in particular not too far 23r0from 2 to 1 pose advancing. look at opening versus shutdown trades an etf we look at, entertainment and leisure, up 2.5% software, which has been the leadership grou

josh lipton has it josh >> apple has now officially terminated epic's app store account as it said it. this means if you previously downloaded fortnite, then you can still access that game, but you will not be able to access new content from epic. we have a statement here from apple. they say, the court recommended that epic comply with the app store guidelines while their case moves forward guidelines they've followed for the past decade until they created this situation epic has refused instead they repeatedly submit fortnite updates designed to violate the guidelines of the app store. remember, a judge ruled this week in apple's favor, saying apple did not have to restore fortnite to the app store. but in a reprieve to epic, that judge also said apple could not block its developer access, which epic says would have really hit and impacted its unreal engine business the first hearing in this case scheduled to take place in late september. >> you've got to wonder how much of this epic can take. unreal is saved for now, but epic has more going on than just fortnite and not a lot of ot

between them cloud monitoring company data dog on track we haven't talked about this one in a while josh liptonsh >> so, sara, data dog is down 12%. this stock skyrocketed higher. it's up 120% so far this year. in the past five months alone, doubling the market cap to 25 billion, they offer a platform allowing customers to monitor the performance of the apps. networks and computing infrastructure they've had an impact. analysts are bullish on this name not a single sale on the street. back to you. >> all right josh lipton, thank you interesting one to point out what are you seeing in the market >> as we mentioned earlier, on the weak side, if you look at market breadth in in the new york stock exchange, it was more than 2-1 to the down side. it remains that way. so clearly there is, as you said, undertow selling despite the flat index take a look at the equal wal weighted nasdaq fund so the average stock looked badly lagging across the board take a look at the vix volatility index ticking up here it's up 25, up to 26 the secret is out that september is a weak month. traders have a lot of gains.

josh lipton has new data on global computer sales. c sharing the latest data with cnbc, and showing that global pc shipments in q2 here surged 13% to 73.7 million units. that's even stronger than the research firm initially estimated. hp taking the top spot with 25% market share followed by le nova, dell, apple and acor now he says the pandemic is forcing people to work, learn and play at home the big question, of course, does this trend continue and if so, for how long. >>> let's dig deeper into this trend. tom brand is tracking the latest trends great to have you both here. tom, is the boom over? was it a one-time, you know, depths of covid type thing or is it persisting? >> i think everything with covid, it's difficult to tell. manufacturers typically advertise the feature of npcs as something you would want to upgrade to so if consumers are looking at that, if the initial wave now, and thing return to normal fairly quickly, we might not see that, you know, the pc trend continue, but if it does, look for another boom in a couple yea

let's goat josh lipton >> is the opportunity worth the risk they're wondering if microsoft's pursuit of tiktok makes sense. i checked in with patrick moo moorehead. he say that's microsoft is relatively week in consumer services so this is a chance for them to immediately become a bigger relevant player technology they could grow that business monetize that big pool of fans of businesses at the company and they understand, and they're on cnbc talking about the potential benefits >> obviously it depends on the price. price is important, as well as whatever restrictions come with it from the government perspective. i think it is an exciting avenue for microsoft to increase their consumer ase >> but there are risks here, too. ath rick moorhead points out that microsoft has not always stuck the landing. from nokia to mixer. and this is a big change in strategy it is a focus in the commercial cloud business >> that is quite a chart thank you for setting us up. let's go to kara switcher this morning. >> good morning. >> we'll get to microsoft strategy in a moment but i want to refer to you

josh lipton on data dog for us ty >> kelly, coronavirus leading many people to move out of big cities only reason we'll take a look at the problems facing los angeles and san francisco especially when "power lunch" for a moon returns. woman: my reputation was trashed online. i felt completely helpless. my entire career and business were in jeopardy. i called reputation defender. vo: take control of your online reputation. get your free reputation report card at reputationdefender.com. find out your online reputation today and let the experts help you repair it. woman: they were able to restore my good name. vo: visit reputationdefender.com or call 1-877-866-8555. >>> many big cities are facing an exodus, there went my wife running hund me, facing an exodus as work from home makes city living less necessary san francisco and los angeles experiencing that as well as several other problems we are looking at california's troubles >> hi, tyler that's right california is the world's fifth largest economy but since the pandemic, it's been running into a lot of challenges which could end up p

josh lipton, thank you >>> new york gyms are reopening with several restrictions including operatingcapacity equinox plans to open doors in new york on september 2nd with new protocols in place including prebooking visits and enhanced disinfection procedures and using medical grade air purifiers. joining us to discuss how he is planning, the chexecutive chair eqinox welcome back. >> thank you for having me. >> what's your sense of what demand is going to be like when you reopen >> well, obviously, you know, the only benchmark we have is what we've seen around the country. and what we've seen around the country is that there are a lot of people, a lot of members are so excited that we're finally opening as are our employees so what we expect is you'll have the earlier adopters who are standing there waiting for us to unlock the doors and then you'll have another group that will be a little bit more cautious who are likely to return but might take a little bit more time until they're ready either because of their own personal situation or just as they hear from others how suck setsful

let's get to josh lipton with the numbers, josh?lissa, i had a chance to check in he said he's seeing reporting increasing profitability, stable revenue growth rates and a healthy pipeline he said box is not immune to the broader reality of the economy now. strong demand from existing customers he says but he is seeing softness in some segments like small business but bottom line, beats across the board and the stock is surging in the after hours. i need to check in over at da davidson he covers the name and says profitability well ahead of expectations, box is executing well he argues while controlling spending he does rate box a buy he says due to strong technology, strong enterprise penetration and continued room he argues for operational improvement from here. on the call he is saying he has over 100,000 customers the world today is different he's arguing companies want to modernize how employees work in the cloud remotely and box is capitalizing on that opportunity tomorrow morning it trends in themes he's seeing in the industr

soaring after confirming that the company has held talks to acquire the popular social app tiktok josh liptonas the details. >> it could be microsoft's biggest acquisition in the consumer market. confirming it is pursuing tiktok its interest here understandable tiktok is wildly popular with 100 million users here in the u.s. microsoft would immediately become a bigger player in consumer technology and could monotize the pool of users with advertising. a business it knows well microsoft's former ceo was on cnbc this morning and talked about the potential benefits of this deal. >> some exciting proposition for microsoft. obviously, it depends on the price. price is important as well as whatever restrictions come with it from the government perspective. i think it's an kpietsi inexcit for microsoft to increase its consumer base. >> there are risks here. the consumer market is fickle and microsoft would have to make sure that this would not over shadow the commercial cloud story. that sent microsoft stocks surging higher trump saying microsoft or another american company would have to buy tiktok

an earnings alert on another big name, nvidia on the move, the conference call getting underway josh lipton has been following the earnings and the call and he has more >> caught up with mitch steves over at rbc, long time nvidia bull over there. that stock was up about 100% year to date, up 15% this month alone. he says he would swant to be long if you look at the data center revenue, 1.75 billion, daily 1.65 billion the q-3 they're looking for 4.4 billion plus or minus 2% the call really is just getting underway the cfo saying they delivered a strong quarter ca eer gaming. brian, back to you >> traders acting laconic about that quarter what's your take >> it was a great quarter, but i think investors were expecting that i think that the data center, just the modest upsize there might be what investors are focusing on. when you see the gross margin in the first quarter and the modest guide in the next quarter, you'd say they're being conservative if you see that upsize in revenues, again, the stock was up 15% this month alone. it was up 100% on the year here's a company that does one-fifth

let's get to josh lipton with more >> president trump is now weighing in.e bring you those comments. he's saying oracle is a good company that could take over tiktok's u.s. business he repeated that demand that the u.s. treasury must get some share of the sale and there must be a resolution by september 15th if larry ellison can find the right partners and get the right price, maybe this idea isn't so farfetched he says oracle has the cash pile of 43 billion and counting he says oracle could see this as more of an investment. larry oracle would not be running tiktok it would just be a big new client for its cloud business storing and protecting all that user data. brent sees this as a low probability event arguing that oracle is an enterprise company, it doesn't know the consumer and has a spotty track record of m & a. one interesting wrinkle here is mr. larry elellison. he has that unique relationship with president trump the very rare tech exec that openly supports the president, even hosting fund-raisers for him earlier this year. >> with the possible bi

. >> josh lipton, thank you. dan nathan, would you agree that the earnings worer were ridiculs >> this is a company whose sales and earnings declined year over year in 2019 it's obviously been a huge beneficiary of the quarantine. i think this price action is pretty rational. the stock is up 45% on the year. it tlrades at a pretty reasonabe multiple i think investors are going to start pricing in what does deceleration from this very unusual time look like especially from a company that might have already hit a growth speed bump prior to the quarantine i think this one makes sense to buy it lower somewhere in the 70s. >> chris >> i think this whole group is one of the great trends in the market activision up through 86 the other day, the major breakout, i think any weakness post earnings back to 80 is viable japanese gaming names have all been on fire this is a group move stay there if you're long. >> earnings on beyond meat >> shares are down about 7% as the company took a hit from the pandemic challenged food s

that is very important too back to you. >> david and goliath fight josh lipton, we appreciate the update there coming up on "closing bell," shares of teledoc higher as wall street gets bullish on virtual medicine up next, we'll speak with the ceo of competitor md live about how the pandemic has transformed health care in america you're watching "closing bell" on cnbc. we'll be right back. introducing stocks by the slice from fidelity. now you can trade stocks and etfs for any amount you choose instead of buying by the share. all with no commissions. stocks by the slice from fidelity. get your slice today. stocks by the slice from fidelity. ♪ i keep working my way back to you, babe ♪ ♪ with a burning love inside ♪ yeah i'm working my way back to you, babe ♪ ♪ and the happiness that died ♪ i let it get away servicenow. the smarter way to workflow. i am totally blind. and non-24 can throw my days and nights out of sync, keeping me from the things i love to do. talk to your doctor, and call 844-214-2424. you say the customers maklet's talk data.s. only xfinity mobile lets you switch up your

dom, back to you. >> thank you josh lipton for the update that brings us to our next viewer question.om kentucky i wanted to ask about data dog i bought it back in november in the low 30s and bought some more at 60. i was wondering whether i should take my profits now or hold on to it for awhile thanks. >> all right the stock closed, the regular session at $83.55. like josh points out, there is a $25 billion company. what do you do with data dog >> what do i do with data dog if i'm him and owned it at 15 and bought more at 30? i'd take chips off the table this isn't about picking top or bottom but staying in the game, being a profitable trader and exercising prudent risk management i don't need to look at the stock chart. if you bought it at 15 and 30, you take some off the table at 83 and go on about your merry way. a nod to karen she wanted this out in the last segment. if you're involved in cloud computing, the likelihood you'll have positive momentum is high i can see this continuing to trend higher, but it's a mixed bag there. you have got to do it in the right way that maximizes

kelly, back to you >> as the company approaches the 2 trilli$2 trillion valuation mk thank you, josh liptonhere is an etf for everything from spac and the pandemic >>> it's all ahead in "rapid fire." it's after this. mhm, yeah, that too. i don't want any trade minimums. yeah, i totally agree, they don't have any of those. i want to know what i'm paying upfront. yes, absolutely. do you just say yes to everything? hm. well i say no to kale. mm. yeah, they say if you blanch it it's better, but that seems like a lot of work. now offering zero commissions on online trades. we charge you less so you have more to invest. ♪ come on in, we're open. ♪ all we do is hand you the bag. simple. done. we adapt and we change. you know, you just figure it out. we've just been finding a way to keep on pushing. ♪ >>> welcome back let's catch you up on a couple stories that should be on your radar today. it is time for "rapid fire." seema mody, rahel solomon and picker the clock is ticking in the senate to get a deal done in order to avoid a ban in the u.s. for tiktok the chinese state media is slamming the cou

josh lipton and i have been talking about this i know he's asked tim cook about it if you have one bucket for apple music and apple tv and icloud and you're big on services, why not offer people a little discount for dipping into multiple different services? we can't forget arcade, other things they're trying to upsell people into. now, apple doesn't like giving discounts for anything, so maybe they wanted to argue for the stand alone value of these services, but come on. i mean, mike, you can take a page from the cable industry, triple play, you know, maybe quadruple play there's so many services out these days, it seems inevitable. >> i think it's interesting, if you were to break it down and figure out exactly what the sum of those services is worth and then what the price point might be if you remember, cable, they basically just passed through roughly speaking the price of the actual networks. they were really kind of selling you the connections, so i do wonder what apple as a service, if that's what it would roughly be, might be priced at, because i'm not sure what music plus apple

. >>> josh lipton. josh, thank you.mall business, very strong numbers, very strong share price reaction, up 14% here after hours. box had basically done nothing over the last three months, a nice comeback from the march lows just another sign after salesforce that enterprise spending is in a good place, if you're providing these kind of cloud services that power the work from home trend. >> the fact that it's been a laggard as you said, the fact this the best day i can ever remember for a cloud-based enterprise software company to have their results hit the market, you know, then you see that reflex reaction the fact you've got 25% move and $200 billion company today in crm is pretty stunning. >> yeah, and up 13% in after hours for that specific stock, sara this enterprise trend, it continues. does that give you reason to continue investing in that sp e space? >> we generally think these companies are benefiting from digitization the thing with something like box, it is a smaller cap company, there is a handful of compa

josh lipton has the story for us hi, josh >> so the reaction from many to this news was shock. why in the world would oracle want to acquire tiktok's u.s. operations they're a business software giant. that is a potential suitor here. i checked in with evercore he said this might not be as far fetched an idea as some might think. they have the financial strength to make a bid with another firm. and kirk says perhaps oracle can see this as of an investment meaning larry oechllarry elison up the business. storing and protecting all that user data. elison is that rare executive near silicon valley that does openly support trump even reportedly thoeg a fund-raiser for the president. guys, back to you. >> thank you for that. >> sara, the key thing that comes to mind for me when we hear of these new entrants in this race is where more intrants makes it less or more likely that a deal gets done in time before the president's ban comes into play. it's a big hurdle to see all the necessary regulatory approvals go through and the separation you need from the parent company. i just think t