steve kovac has been standing by at apple. long have been you been standing by at apple's flagship store? >> tyler, about 13 hours. not too bad. and actually, the line is just now starting to thin out. but still lots of crowds, lots of tourists, lots of gawkers. and look, the story here is people are still showing up for the iphone. i talked to a bunch of people in line, not only showing up for that, they're showing up for the pro line of iphones, the more expensive ones, including the max phone, the top tier phone that cost $100 more than it did a year ago. those are the devices that apple really needs to sell well, not just this quarter, especially in the holiday quarter starting in a few weeks. we know smart demand is low. we know apple is facing its fourth quarter of declining sales in a row. that would make it a full fiscal year of down sales. things will get better next quarter just because of all those production problems, but everyone's counting on the demand for the pro staying strong. just a few data points we have b

coming -- william kovacic . a cyber attack takes out part of the vegas strip. details next.oomberg technology. ♪ es or filing returns. avalarahhh ahhh sweat isn't sweet. it's salty. lmnt. more electrolytes. zero sugar. you feel the difference when you get it right. stay salty. caroline: mgm resorts in las vegas was hit by a cyberattack this week, taking down payment systems, slot machines, guests ability to access hotel rooms and check in. details of the attack including who was behind a, the motive and type of information they obtained remains limited. a spokesperson for the fbi office in las vegas that they are aware of the attack, assisting and mgm says its hotels are really operational. plenty of frustration it feels. ed: some of the reporting is amazing, people forced to use cash, can you imagine? having to use paper money in this day and age come outrageous. check out the story on bloomberg.com because sadly that does it for this edition of "bloomberg technology." big show, recap it on our podcast wherever you find your podcast on the bloomberg terminal but we are also

. >> joe kovac was down at the local paper.nd all of the sudden -- >> i could remember the buzz in the newsroom. >> oh, this would be big. big, and disturbing. sometimes, things can be like that in the south, says joe. >> it was the shock, a shock to the system. ♪ ♪ ♪ but, there is something else about the south, something sweet, magnetic. it draws people in, and macon, with a storied history and his cherry blossoms at its very heart. >> but slow, relaxing. everybody here is welcoming. >> even for a new yorker but, -- who signed up at the mercer law school over here. >> you never meet a stranger i guess, in the south. that is what makes it so wonderful, comforting. >> it is where she met lauren giddings. >> when we found out that we were both from the north, we just instantly connected on that >> but, then why would you not want to connect with lauren? she was bigger than life. >> she was infectious. i mean, you could not be around her for more than five minutes, and not already be having a good time. >> she was the adored elde

mark and some on wall street suggest orders are already stronger than expected let's ask our steve kovac. he follows that story closer than anybody what is this i read some notes today that seems to be suggesting that this is off to a really strong start. >> yeah. morgan stanley put it this way, scott, quote, better than feared and that's what they said this morning and they were looking for data from iphone 15 pre-orders that started just a few days ago this echoes bullish notes on preorders from j.p. morgan, bank of america and wedbush and dan ives saying the same thing early demand appears strong for the iphone 15 lineup especially for the pro models and more specifically for the pro macs which cost $100 more than it did a year ago morgan stanley saying early demand stronger than it has been in seven years wait times are up to six weeks if you try to order an iphone 15 pro max, and china concerns a couple of weeks ago about the reported ban of iphones far government employees wait times are actually longer for the iphone 15 in china than the u.s. that's good news if you're hoping for

steve kovac joining us now. i don't think -- is he in san francisco -- i didn't even realize -- steve, i thought you were here earlier when we were -- >> no. >> wow. okay. >> west coast. >> kristina partsinevelos is right here with us on set and there's many angles of this to discuss. first of all tell us about the deal. >> it's important because two reasons. one, you have qualcomm that's going to continue supplying modem chips to apple until 2026. so that's seen as a win, especially because apple is its largest customer, contributes over 23% of total revenue. that's a win. the second major part of this too is that the patent licensing agreement will also continue. that's seen as a separate stream of revenue for qualcomm. both of them coming in. however, if you look at the stock price, it jumped up 8% earlier this morning. it's come down off of those highs. there's probably two reasons for that. one is we don't know the actual terms of the deal but the assumption is that maybe qualcomm's giving some type of pref

steve kovac, thank you as well. >>> and michael, you have set it up perfectly for us. so how are investors responding to all this? deirdre bosa joins us now along with the aforementioned dan miles who says apple is his single largest short. >> his name mentioned a few times in the last segment. dan, we have you now on the line, thanks for being with us. you outlined a number of reasons why you're short including the latest reports from china, and quote, no a.i. play. in your view, what is the biggest risk to apple at the moment? >> well, it's the one thing that hasn't come up in the last segment, which is what's the risk you're taking on owning it? and one way to measure that is what's your pe ratio? and what's the growth you're getting? so if you look at it from that standpoint, you're paying 28 times pe for apple. revenues grew 2% last year. they grew 1% this year. and you can buy the s&p at 21 times. so the multiple, if you look at it, it's actually expanded about 7% from two years ago, while the revenues are dead flat. and the eps is down. now, by the way, if you t

somewhere out there he can get 900 extra kilopotassium, our life hack is that if you want to eat kovac’slettuce, a piece of cucumber, tell me, can we take two jars with us, please, thank you very much, it was very interesting with you, thank you very much, goodbye, let’s go, let’s go, if you’re watching our program is not from the very beginning and you don’t know how zucchini caviar is good for vision, i remind you that all episodes can be viewed on the online media platform: watch, download the application, install on your phones or tablets, or just go to the website rim.ru, so, i can now open it, wait, we still need more from it cook, it’s good that we’ll cook, we’ll cook a dish that’s healthy for digestion, you know, there’s a lot of people who have all sorts of digestive problems, yes, this dish will help them, great, go ahead, he’s changed a lot, your feelings for him haven’t faded away, dr. krasnov, on monday, at 21:20, with age, vision can change familiar things. toufon is designed to nourish, restore and preserve youthful eyes. it is recommended to use it daily for 3 months, thr

and then ruth kovacs. mantle and ruth were there. she on ruth traveling america and building babe ruth brand. so he the one of the reasons why he died so early, he wore himself out and he wore himself had not by only eating so many hotdogs and drinking so many beers and having so many steaks for breakfast, but not on the pressure of being a great player too. but he would go and do the promotional gigs and you know, there's that famous scene in the natural where a babe ruth type character, you know, faces a natural. the robber redford character, and is struck out. and babe ruth had, those situations and he did wear himself out, but he became, the most famous man in, the world. and he had that famous crack that he not only earned money than the american president, he had a better year than the american president because he deserved the money. so that was the deal more than any other player. you know, he had a brand today many players have brands well they have the reggie but it never took off like what were comparative to to what they

and as steve kovac pointed out, the lines are longs.w if those are longs i would analogize to the road show where there were a lot of demand and then off to the races and fizzled out. we'll see if it's true demand or first day, early adapters. >> >>> speaking of mega cap tech, microsoft and activision finally close to clearing that final hurdle that prevented the $69 deal from closing. we'll get details next. >>> delivering alpha is less than a week away. september 28th in new york city. scan that qr code or visit cnbcevents.com/deliveringalpha. >>> welcome back. let's dig into this week's ed decision. our next guest served as fed governor and says we may not need to raise rates any further from here, making the case it will be hard to avoid an economic slowdown next year as inflation starts to come down. joining us former fed governor randy kroszner. thank you for being here. is it binary, is it -- if you raise rates, you're definitely going to have a hard landing? if you don't raise rates, you'll avoid it? or is it a bit more complex

milan kovac, a wonderful guy. you know, they leave and then goes to a much gentler place and then comes back and said, i had a choice between being burned out or bored and i decided to be burned out on a mission with elon. that jekyll and hyde thing does come through. you can't read this book without concluding that his mind was, as you noted, shaped by science fiction novels and lots and lots of gaming. video. yeah, video gaming. people haven't talked about that enough. he is a total addict to things like whitopia. he stayed up all night when elden ring. is there anybody young enough to know what elden ring is and hey, there's somebody who's an elden ring fan. you're cool. so elden ring comes out. he is gone to hawaii with. natasha bassett, a australian actor, but then he has to meet grimes in vancouver. i mean, it's in the middle of the most emotional turmoil. and elden ring comes out and he stays up all night playing elden ring on 530 and then right after that, he sends out a message. i made an offer and that w

joining me now is laura martin, senior internet and analyst at needham and steve kovac is with us, as well. welcome to you both. laura, it doesn't seem like this -- i don't know, the apple shares aren't moving up on this. the larger questions are still probably just china and demand. >> agreed 100%. it looks like maybe biden is trying to thaw relationships with china. that's best for apple and disney who have big operations in china. each of them are about 20% of their revenue on apple's side and 20% of theme park revenue for disney. so it would be really great if we didn't go to war figuratively or literally with china. >> it's interesting you say that because obviously the president has been in vietnam. he was just in india. lately he's been corralling allies like korea and japan to form this. it looks like unfortunately, the u.s. is preparing for a more tense future with china. it has these agreements with india to build out its own -- i don't want to call it a built-in road, but to push back a little bit, but where and how shouldwe read the signals that we think the administration

. >>> let's get over to steve kovac for the cnbc news update. >> united flights are once again cleared for departure after a technology issue led to a brief nationwide ground stop this afternoon. united officials teld cnbc it held all departing flights because of the issue. flights already in the air were not affected. the issue was resolved in about an hour. >>> also lawyers for convicted murderer alex murdaugh filed a motion today seeking a new trial in the killings of his wife and youngest son and claim they uncovered evidence the clerk of the court tampered with the jury by telling them not to believe murdaugh's testimony or evidence presented by the defense. the once prominent south carolina lawyer is serving two consecutive life sentences without parole. for the first time in 18 years the rolling stones are releasing new music. the band's new album will debut on wednesday during a youtube live stream. it is their first since 2005's "a bigger bang." mick jager still going strong at 80, guys. >> they are amazing, the stones. it is amazing the stones are still rolling. particularly

interesting he - has chosen a dish of eaton centre to go to deny, because it is the centres that supply the kovacicobs, so perhaps a engine, which are going to lose most of thejobs, so perhaps a more synthetic audience there —— combustion engine. joe said he might have a problem with the workers, he might have a bigger problem in what happened last night. pn the eve of this appearance in detroit, —— on the eve of this appearance in detroit, a judge in new york ruled that donald trump and his two adult sons had built their business empire on bank loans that were acquired fraudulently. the judge agreed with the new york attorney general letitia james that over the years, trump and his company had provided banks with financial statements, misrepresenting the value of his various properties by as much as $3.6 billion. trump's defence that none of this really mattered because the banks got their money back "was from a fantasy world," said thejudge. the court has cancelled the trump organization's business certificates that allow them to operate in new york. joe, we were all lumbering through it last nig