side of things that is josh lipton there. let's move past the financials conversation, guys, that we started with and sort of pivot to the other side of it because i think it plays off of what we're talking about right now. as all of this money is coming out of the financials for say 11 weeks in a row and then you've got in the same time period all of the money going into technology i noticed something that caught my eye it is what kathy woods' arc funds have been doing with tesla over the past couple days. that is selling some of the shares on the pop that the stock has gotten got me thinking, okay. so kathy wood is about as big of a supporter of tesla as you will ever find. and yet she takes advantage of the pop in the stock to sell some i'm wondering if that is the strategy we should be thinking about for all of these tech stocks like the apples and the microsof microsofts and others that have had these incredible runs over the last few months, shannon is it time even if you love these names to at least take some money off

josh lipton is standing by with what we can expect from the big event. josh >> reporter: so, kelly is as always tight lipped about what is coming here here's what we expect here today. four new iphones, a mini, regular, pro and pro max, featuring upgrades we think to the processor, battery, camera important questions for investors, will apple raise iphone questions due to increasing memory costs and price hikes we know are coming apple has been impacted by the ongoing chip shortage like so many others, so how could that affect supply of the new devices. in addition to the new iphones, apple is expected to unveil a new watch today, a faster processer, larger screen it counts for an estimated 5% of total company sales. 13% of the iphone base by the way has a watch. in other words, they see a potential long runway here for more adopters in the quarters ahead. also possible new ipods too. apple does not break out that product for us, but air pods account for an estimated 5% of overall revenue. air pods and watch both part of the broader fast growing wearables

back to you. >> thank you, josh lipton. for more on apple's event, we have our cnbc contributor. strokes. i have seen this many times. this is about evolution and not revolution with apple products here what does apple need to say today to help move the needle for this company >> it is interesting i think it is less about what apple says today and more about how it is positioning the software business. we think about the event and typically these are massive events for apple you get a chance to look at the business and see where it is going. these are fairly underwhelming upgrades to the iphone a smaller notch at the top of the screen who will upgrade with that smaller notch? it is about moving the needle and how do they make money from the existing customers that is why it is fascinating. we just had the epic ruling last week we see a hit to apple as the software and services business that is the headline coming in it is going to be looming over the event. as for the phone itself, we know what is coming we still look forward to the events now they are more refinement events >> i

josh lipton, thank you. >>> after the break, the winds of inflation can turn quickly. that's the headline following the consumer price index print we'll break down some of the prices in that report. what it means with head of u.s. economic from bank of america, next the dow is down 284. ♪ ♪ ♪ ♪ ♪ ♪ ♪ ♪ this is how you become the best! [music: “you're the best” by joe esposito] [music: “you're the best” by joe esposito] [triumphantly yells] [ding] don't get mad. get e*trade and take charge of your finances today. (vo) while you may not be running an architectural firm, tending hives of honeybees, and mentoring a teenage— your life is just as unique. your raymond james financial advisor gets to know you, your passions, and the way you help others. so you can live your life. that's life well planned. >>> the big economic data of the day -- consumer prices rising at a slower pace in august, which market the smallest increase in seven months if you look year over year, prices are up, which did edge downed from the -- those were the largest gains since back in 2008 joining u

a judge ruled against the company in its battle royal versus the maker of fortnite let's get to josh lipton for all the details that came down this afternoon. hi, josh. >> so courtney, a historic high profile antitrust fight between apple and epic, and now we do have that decision apple winning on nine of ten counts the judge saying apple is not a monopolist the court cannot ultimately conclude, the judge saying, that apple is a monopolist under federal or state antitrust laws. apple's kate adams saying we are very pleased with the court's ruling and we consider this a huge win for apple epic's tim sweeney not sounding as happy tweeting today's ruling isn't a win for developers or for consumers. it was not a total victory for apple either the judge also saying that apple must give developers the option to steer users to outside payment systems. now that could impact apple's app store sales which grossed an estimated 64 billion in 2020, that lot of remaining questions here for investors will apple appeal this decision, and even if this rule is imple implemented, how would consumers respond.

. >> with the nasdaq down 2.5%, let's get back to the nasdaq and josh lipton. us an update on the biggest laggards as the sell-off deepens. >> you can sort of take your pick of the sub sector i thought we would take a look at the cloud names and we need zoom, and they are all lower right now in today's trade and zoom on track for its worst quarter and going public back in 2019 pel peloton is hard to watch and we know apple continues to leverage its watch. payments are interesting paypal and square not having a strong day and robinhood and coin holding up relatively well. atvi in the green, take two and not doing much and an interesting sector and it's been rough sledding and some names today having a better trade. back to you all. >> josh, thanks very much. keep your eye on code this afternoon, elon musk, jason kylar of warner, marc benioff i'm scott wapner the sector under heavy selling pressure this hour and interest rates continue to move higher. our investment committee mere to debate what all of that means to your money with me for the hour today, amy r ra

josh lipton has the numbers. >> q2 results, loss of 11 cents.iding for a loss of between 24 and 25 cents versus expectations of a loss of 34 cents revenue guidance, 325 to $327 million versus expectations of $323 million for the year they are guiding for a loss of between 74 and 77 cents versus expectation there of a loss of $1.11 and for the year guiding between 1.243 and $1.25 billion. the expectation $1.22 billion. rpo versus subscription revenue up 57% to $2.24 billion. expectation was 2.21 >>> chewy's results are also out. courtney reagan wuth with those num buyers >> the revenues are missing at $2.16 billion. the streak looking for $2.2 billion. that does represent though a 27% growth the ceo who i know you'll have on shortly says that active customers increased 21% in the quarter and 31%. so far the street is not impressed with that. the shareholder letter just being posted when we get more we'll come back to you you have sumit singh who will be on your show as well >> we'll talk to him in a few minutes ahead of the conference call the st

josh lipton has a preview. >> oracle stock surging nearly 40%, so far it's right north the all-time highse if the company still feels good about -- as it pivots to the cloud back to you, wilf. >> josh lipton, thank you. >>> is it company specific, or is it something broader? >> certainly combinations, oracle has gotten to a point where where people feel better positioned in cloud-based services yeah, these old-tech companies that are cash flow machines, which oracle absolutely is they foundas audience nothing is recommending it. it's viewed a bit of a corporate tech utilities as opposed to having this compelling innovation and growth story. >> what's your thoughts, lindsey? >> i do think it was a trade earlier this year, when people jumped into the value bandwagon. oracle and others benefited. i think here, like you said, sentiment around the street and -- has been pretty poor. this is going tore a show-me story as they moved from being that profitable expansion story to a top-line growth story it's also very expensive it got that boost from the value-oriented interests it hasn't seen tha

for that we go to josh lipton. >> so far the u.s.ation allay boar relations board is reviewing two complaints against apple filed by employees a complaint of august 16 citing harassment by a manager and a complaint on september 1 saying the company repeatedly stopped discussions of pay among employees. the nlrb did not respond to cnbc but apple said we are and have always been deeply committed to creating and maintaining a positive and inclusive workplace. we thoroughly investigate whenever a concern is raised and out of privacy we don't discuss the matters. there's up to 30,000 charges each year to nlrb. typically the agency said the decision is made within weeks. apple does directly employ more than 90,000 people here in the u.s. back to you all. >> yeah. i think what's interesting here is not so much that there are a couple of complaints because as you said up to 30,000 of these a year they're coming from inside apple and maybe this is another result of a tight labor market particularly coming to tech talent julia, usually we don'

quite a difference a few days make, john >> let's get an update from the nasdaq josh lipton is there e not literally in times square, but overlooking it josh. >> that's right, john. modest rebound for tech this morning. let's start with some of the big names. facebook, apple, amazon, alphabet and microsoft of course hit hard yesterday facebook down 10% in september and highlight a range of issues that tech is confronting, they say. rising yields, tough comps and moderating pandemic tailwinds. chips a soar point micron not helping and reporting and disappointing with the forecast last night and analysts say help limit the pressure in today's trade. have a look at the video game publishers, as well. act vision ea take two and stronger yesterday in the green again today. joe saying the group is benefitting from attractive valuations and upcoming launches back to you all. >> josh, thanks very much. >>> let's stick with some of these market themes today following yesterday's ugly trading and bring in someone who has been an early investor in some of othe biggest names in technology includi

josh lipton has a look at some of the newest names on a discount josh >> so, jon, it is a better dayh bulls nasdaq is moving modestly higher yesterday the tech heavy gauge finishing deep in the reds worst day since may. apple now higher as well still, though, about 10% off its 52-week high of course, those new iphones becoming available on friday alphabet today hanging right around the flat line that one of course has surged higher this year, though it is still on track here to break an eight-month winning streak the longest since 2009 for that name the smh, etf that tracks the chips tracking right now for its worst month since march 2020 it is, though, only about 5% from its all-time high joe kulina from wedbush saying that chips are the place to be in his opinion pointing out that investments continue in chip makers are raising prices finally, the video game publishers interesting to watch here, ea is actually tracking now for its worst month since october 2018 blizzard both about 30% off their highs. andrew over at jeffries says in part recent game delays have weighed on these nam

. >> great our pleasure >>> we have a news alert on lyft with josh lipton wilf, this is from logan greeneeting- it threatens to punish drives gets people where they need to go, especially women exercises their right to choose. they have created a legal defense fund to cover 100% of legal fee foss drivers sued under sb8 while driving on our platform back to you, guys. >> thanks for which for that, josh >>> up next, new concerns about a potential fed-induced bubble and another major energy company started by activist firm ennumbr one. th if you're 55 and up, t- mobile has plans built just for you. whether you need a single markt or lines for family members, you'll get great value on america's most reliable 5g network. like 2 lines of unlimited for just $27.50 a line. only at t-mobile. and there you have it— -woah. gially flat wireless on the most reliable network nationwide. wow! -big deal! ...we get unlimited for just $30 bucks. sweet, but mine has 5g included. relax people, my wireless is crushing it. that's because you all have xfinity mobile with your internet. it's wireless so good, i

stock sliding into the close down just about 1% let's get more josh lipton with that. good evening >> let's start with the iphone tim cook taking the virtual stage and saying these are the best iphones apple has ever created. and here they are. the iphone 13. the iphone 13 mini, the pro, and the pro max. all 5g enabled faster chips brighter displays, bigger batteries and updated cameras. as for prices, they remain the same as last year. we expect the carriers to be aggressive preorders on september 17th will be available on september 24th also highlighted today, a new ipad that comes with a faster processor, better camera, costing 3$329 and a new ipad mii that cost $499 both available next week and rounding out the show, a new watch. series 7 20% more screen area $390 apple saying it's available this fall, but didn't offer a hard date heading into this event, apple on a role over the past three months up 15% did finish lower as you point out in today's trade it is lower for september. potentially snapping a three-month win streak now up 14% for the year. >> thank you v

josh lipton, what is going on with oracle? >> it was up around 40% so far this year.eak over the past month, but still right near all-time highs. now in the afterhours, ludosing ground here. checked in with kirk and he called this a basically heightened expectations. saw a modest acceleration. kirk says that's a positive. up around 30%. indicates oracle is doing well in the broader sass space. it's a hold that's rallying hard and he wants to see nmore evidence of accelerated revenue growth a great quarter, if not for the strengthening dollar, it would have been better revenue now of 10 billion. in total, 9.7 billion. up 4%. she did just now give guidance she says she's confident this '22 revenue growth will accelerate because of her fast growing cloud businesses she says operating margins will be same or bet r than pre pre-pandemic levels. growing between 3 and 5% in usd and constant currency. non-gap eps growing between 2 and 6% back to you. >> thank you very much let's talk more now about this dan, oracle is a stock with an average analyst rating of hold, below wher

note on the call saying calendar '21 is shaping up strongly melissa, back to you >>or, thanks, josh lipton disruptions up and downstream impacting micron here, dan >> i think this is a bit of a preview of q3 earnings we talked about it last night from a lot of different sources of tech companies and my thought after that "options action" hit if you are going to play this for a bounce you better do it with options and define your risk a little bit. as josh said, the quarter was fine it was that q1 that fiscal q guidance that guided revenues down 12% and earnings a little more low teens or something like that that's not great but the fact the stock is only down a few percent tells you maybe the street is not buying it, maybe they guided very conservatively, and therefore they'll beat that and given the valuation maybe it sets up good that's my take expect more of the commentary for forward guide ance as we get into earnings season >> what is your take on dan's take, guy, on the price section? >> spot on it's all about the guide because the quarter, look, still a dram company in terms of reve

we're talking 48 billion or so josh lipton is looking at technology, which many are looking to rebounder day for tech bold right now let's start with some of the big names, microsoft, amazon, alphabet and facebook down 10% in september that means it will likely snap its longest monthly winning streak on record though some see opportunity. tech investor, dan nils was saying he likes alphabet, for example. strong growth, he says and it will benefit from economies reopening. asml making news, raising the annual sales outlook, though the stock not doing much the chips on track for the worst month since march 2020 and micron, we got forecast last night. cloud names worth highlighting, clou, about 7% off its high. zoom, docusign and zoom down morgan, back to you. >> thank you we're going to turn to the broader markets looking to rally, although we have a ways to go to retrace the losses you've seen earlier this week. nasdaq on pace for the worst month since september 2020 we're joined by president and cio, joseph motto and head of investment strategy and cnbc contributor, meagan shoe good mo

josh lipton?f $3.11 versus expectations of $3.01 revenue 3.49 billion for q4 guidance $3.18 versus expectations of $3.08. revenue slightly ahead digital media and recurring revenue. creative 9.78 billion. document cloud 9.79 billion. stock was up 30% this year right around the all time highs and given that back here in the afterhours back to you. >> thank you be sure to catch adobe ceo tonight on "mad money" 6:00 p.m. eastern time pivoting back to the broader markets, steve, i feel like you were bearish with 5% or so from the all-time highs do you think we get down from 10% or more or not >> i think it's possible rather than looking at sentiment, what i have been looking at is the liquidity and buying on the dips and retail just hasn't been there despite what you hear from google and the other big tech companies. people are going back to work. you have had the excess employment benefits roll off that safety net that buy the dip mentality as we see today isn't as reliable as it was and need to see

fairly close to the session lows on which note let's gek a break down of the action there with josh lipton. >> start with mega cap tech stocks lots of red out there. all lower here though some fans as well tech investor dan niles on cnbc today saying he likes alphabet strong growth and benefiting as economies reopen he says chips also under pressure. smh on track for the worst day since may. news street downgrading citing valuation and worries of a cycle peak micron reporting after the break today. cloud names worth highlighting all lower right now. zoom actually tracking here for the worst quarter since going public back in 2019 and adobe a worst day in a decade. rough sledding as we know. game delays weighing on the names and some bucking the trend today like activision settling for harassment and discrimination back to you all. >> josh, thank you for that run down let's get to bob pisani. bob? >> this is a lot, very tricky market energy we have been talking about. global demand for oil high and limited constrained supplies a great run in energy stocks names up 15% energy is 3% of the s&

bob pisani has a break down and josh lipton. bob, the movers here. >> there's an old saying when stocks take the stairs up and the elevator down. remember no 5% move in a whole year so this is what happens you get the sudden whooshes. we have been emphasizing that the global reopening story is essentially topped out in may and june and looking at the proxy names, freeport mcmoran, a classic example about 30% off the highs that they hit so if you look at materials and energy the stocks are down and freeport $45 back in may. those are weaker today here. here's the sectors here. banks, energy, tech and china of course a big concern a lot of debate about evergrande and whether it's systemic risk level heads think that it is not and the chinese will step in on that there's the steel corporations weaker as far as the energy stocks goes similar situation. topped out that while ago. xle is a big mover here. apache global names similar situation with the consumer cyclicals ford and general motors also have been weak in the last several m

josh lipton has details. >> microsoft making capital return news the software giant coming out and raising that works out to be about 3% of the company's total market cap the prior buyback announcement, $40 billion in september 2019. that's about 4% of market cap at that time. of course, saying this wasn't a big surprise the tech titan is pretty consistent at this point in terms of raising the dividend by a similar percentage also the stock has surged a lot. it's up now about 40% in 2021. still kirk has a buy the long-term thesis around double-digit top and bottom line growth remains intact. back to you all. >> josh, thanks for that mike, put this change in context for us for microsoft >> part of an ongoing story where microsoft has just plenty of profits and cash flow to go around and to be a consistent booster of the dividend, it has been around a 10% annual rate of dividend increases in terms of buybacks, it's an effective buyback because they are shrinking the share floats down by 10% since around 2013. not just offsetting the delusion from share base compensation and plenty left to in

upgrades to the processor and battery and camera there are still many questions for investors and josh lipton >> reporter: joe, dates tech investors circled on the calc cal calendar this is one where tim cook takes the stages to introduce new iphones. mini, regular and pro and max. important questions for investors today. will apple raise prices due to memory costs and price hikes we know are on the way. baseline iphone 12 starts at $799 they have been impacted by the chip shortage. how will that affect supply? in addition of the iphones, apple is unveiling a new watch perhaps with a faster processor. that accounts for 5% of total company sales. some on the street are bullish they are betting it could become an important health monitoring device for a lot of people we could see new airpods as well apple doesn't breakout that product. now it accounts for 5% of overall revenue. becky, back to you. >> thank you for more on what it means for the stock, we have joined by the analyst daniel bubdaniel berger. what does it mean for the stock this time around >> becky, for the stock, it will attest to