>> katie huberty and she loves the services revenue, as do you, right? >> yes yes. >> so my question is, what if regulators here in the united states or in the eu start saying to apple, hey, take a look at how you deal with your app store and what you force developers to do and what you charge them. 15% to 30% of subscriptions, because microsoft's president was complaining about that at an event today. >> yeah, that's pretty interesting. obviously, that would be a hit, mel. i think that would be something that certainly would be a concern. although i just wonder how much there is to this whole thing in terms of are they going to be able to go after apple, because i heard both sides of the story throughout the day on cnbc and a lot of great coverage of this sort of a topic of where does apple go from now? are they the big bad guy they are the big bad guy because they are so big. they own the space and because of that, i still feel very, very comfortable about the services i get a lilt less comfortable if they do start to regulate in some way, shape, or fo

with nothing to do, they go online and amazon and apple stores, according to morgan stanley's katie hubertyho has the pulse on the company, apple's revenue has seen a spike. in a year afraid to touch cash or hand over credit cards, keypad or shed or apple's pace contactless technology has become a necessity honestly, don't you -- i carry purel with me and then i start carrying my apple pay. best of all, the work from home movement forced a lot of information technology departments to start supporting apple's computers, what many people have at home. they like apple. they're stuck with the other guy at work. apple has a great phone and laptop is good for zooming they've been locked out of the enterprise for years and that's now over second, this is softy, microsoft. joseph bennett, microsoft's azure cloud business is a standout, the cloud is the way for most people to operate they've had a remarkable run thanks to the ceo satya nadella, talked about how the pandemic has given us multiple years of ding i digitization in the span of a month. third place, shocker, amazon we're hearing about $3,

. >> josh, katie huberty, the analyst that covers apple for morgue an stanley w morgan stanley said not so much a negative for apple the more pent up demand, that will be better as they get closer and closer to the release cycle. is that sort of how analysts are thinking about it? >> yeah. certainly i heard katie's interview was great. the i think that bulls are pitting a lot of hope as she does on that expected 5-g enabled phone coming later this year i think she told cnbc this quarter or next quarter. certainly there is a lot of excitement about that. i think one question investors are going to have is what will demand look like with the economic outlook so uncertain or people going to be willing to shell out for that new 5-g phone? we'll see, sara. >> josh, thank you very much the point i was going to add is the fact that we even still talk about stores for apple highlights that they have a long way to go before they're really truly a services company but seven aware of that the iphone is still the key part of the earnings it's a long process for them ahead. notable investors are rai