romaine bostick and mark gurman, thank you much. bloomberg is hosting the second annual players technology summit. we will speak to jail and brown of the boston celtics making big moves on and off the court. if you like bloomberg news, check us out on the radio, listen on the bloomberg app, and in the u.s., on sirius xm. this is bloomberg. ♪ emily: the second annual players tech summit is underway. it is a gathering of world-class athlete, entrepreneurs, taking place right here in san francisco. guest joined the nba, he quickly made an impression on and off the court. jalen brunson is with us here now. 21 years old, you have obviously made an impression in the basketball world itself, but you also interned at a venture capital fund, hosted a tech summit, what are your goals off of the court? jalen: that is a long-winded type of question. rolodex andilding a finding the right resources to put myself in a position to be more successful than i was last year and the year before that. emily: what have you actually done so far? i know you

mark gurman has the answer to how ti -- it got there. mark: after months of waiting, it finally happened. apple has become the first u.s. publicly traded company to hit a $1 trillion valuation, leaving the likes of amazon, alphabet, and microsoft in its wake, but not far behind. >> 2, 1, whoo! milestone is significant and a testament to the rapid growth spurred by the success of products like the iphone and ipad, as well as ceo tim cook's leadership after taking over for visionary cofounder steve jobs in 2011. >> and we are calling it iphone. mark: but let's not forget that what is now the world's most valuable company was on the brink of bankruptcy as recently late-1990's. that was until cofounder steve jobs returned to the fold. since then, it was one success after another. in the seven years since jobs' death, cook has steered apple to new heights, by launching new devices like the apple watch, iphone x, and airpods. he has pushed the company deeper into new services, like apple music. cook and his team are not stopping there. they're

bloomberg markets editor romaine bostick and bloomberg technology's mark gurman joined us to discuss e boycott. mark: their market share in terms of smartphone os usage, ios, is very small, it's sub-20%, but this news is significant optically. now people are saying, why is the iphone banned in turkey all of a sudden? people who do not understand the trade situation, right? but what if this is the start of a new thing, where different countries are asking apple to build iphones locally or they will make it more difficult for them to sell? we have seen this in india already. now we have the china and u.s. trade war and now we have turkey. so will this continue to be a domino effect and we will see more of this in the future? that is the problem. emily: apple ceo tim cook did meet with president trump over the weekend. here is a clue on what might have been discussed. tim cook did address the trade dispute on the earnings call a couple of weeks ago. take a listen to what he had to say. tim: our view on tariffs is that they show up as a tax on the consumer, and wind up resulting in lower

guy: bloomberg technology's mark gurman on apple attaining a market cap of $1 trillion.this story and find out more business news and analysis 24 hours a day at bloomberg.com. that will be all for "bloomberg best" this week. thanks for watching. i'm guy johnson. this is bloomberg. ♪ .. .. phones have made our lives effortless. streaming must see tv has never been easier. paying for things is a breeze. and getting into new places is even simpler. with xfinity mobile, saving money is effortless too. it's the only network that combines america's largest, most reliable 4g lte with the most wi-fi hotspots. and it can be included with your internet. which could save you hundreds of dollars a year. plus, get $150 dollars when you bring in your own phone. its a new kind of network designed to save you money. click, call or visit a store today. ♪ taylor: welcome to "bloomberg businessweek." julie: and i am julie hyman. taylor: this week, we are focused on that hospitality merger and the fight over loyalty points. julie: yes, a very loyal customers on both sides. we are also looki

thank you, mark gurman. time for the bloomberg business flash.e telekom is forecasting higher full-year earnings bolstered by growth in the united states. that underscores the importance dealplan deal -- planned for t-mobile to buy sprint for $6.5 million. homea milestone for the rental industry. front yard residential has bought property manager paid in rural properties. $485 million is the price tag. the seller is a pimco fund. it is a -- the biggest deal the mortgage giant has done in its single-family rental program. got a boost from the world cup. second quarter revenue beat estimates. results were driven by growth in america and asia. adidas sold a record number of sponsored jerseys. still ahead, oil escapes the trade war for now. futures will be in focus. this is bloomberg. ♪ caroline: i'm caroline hyde. vonnie: on vonnie quinn. this is bloomberg markets. china leaving u.s. crude off its latest import tariffs list. let's bring in tim mulholland. he's at the cme. hell is oil escaping oldest terrorist threat when everything else seems to be

bloomberg technology's mark gurman explores what that means. ♪ >> after months of waiting, it has finallyed company to hit a $1 trillion valuation, leaving the likes of amazon, alphabet, in microsoft in its wake, but not far behind. significantstone is and a testament to the rapid growth spurred by the success of its product like the iphone and takings well as the ceo, over for the visionary cofounders have jobs. >> we are calling it iphone. ♪ >> but let's not forget that what is now the world's most valuable company was on the brink of bankruptcy as recently as the late 1990's. that was until the cofounder, steve jobs, returned to the full. he said it was one success after another. in the seven years since his death, the company was steered to new heights by launching new devices like the apple watch and iphone x. he has also pushed the company deeper into new services, like apple music. and cook and his team are stopping. -- aren't stopping. they are keeping apple on the technological edge. what does he think is its greatest milestone? "i don't think about it, that's the truth. i still

bloomberg tech's mark gurman and bob o'donnell went to the samsung unveiling in brooklyn and came to ll report. mark: they are positioning it as this new big thing for consumers, but the reality is, what looks new to consumers in this phone, does not look different than its predecessor. it has a slightly bigger screen, much upgraded stylus, more storage capacity, a bit of a faster processor, but i do not think that it is enough to move the deal to spur upgrades. emily: bob, would you agree? bob: generally i would agree. people are not upgrading every year for any phone anymore, so the market realities have changed. right? people are upgrading every two years, every two and a half years. people have older phones, it is nice. look, mark is right. it is incremental advance. -- at best. the pen technology is kind of interesting. there were more interesting announcements later in the event, and frankly, if you look at the time spent across the entire event, the time spent on the phones was modest because it was a relatively modest upgrade. emily: now, mark, you have done incredible reporti

guy: bloomberg technology's mark gurman on apple attaining a market cap of $1 trillion. this story and find out more business news and analysis 24 hours a day at bloomberg.com. that will be all for "bloomberg best" this week. thanks for watching. i'm guy johnson. this is bloomberg. ♪ jonathan: from new york city for our viewers worldwide, i am jonathan ferro with 30 minutes dedicated to fixed income. this is "bloomberg real yield." ♪ jonathan: coming up, another solid jobs report in line with the federal reserve's outlook for gradual hikes. trade tensions building. larry kudlow says the president will not back off china. and china stepping in to support its currency, closing in on a record weekly losing streak. we begin with the big issue, another solid jobs report. >> this truly is solid as a rock. >> you had a good jobs report today. >> the big surprise this

guy: bloomberg technology's mark gurman on apple attaining a market cap of $1 trillion.w this story and find out more business news and analysis 24 hours a day at bloomberg.com. that will be all for "bloomberg best" this week. thanks for watching. i'm guy johnson. this is bloomberg. ♪ david: where did the name virgin come from? richard: one of the girls laughed and said, are you a virgin at business? david: did she get a finder's fee for that idea or not? you begin building other companies. richard: the only reason we would go into a new sector is if we felt it was being badly run. david: is there something in your life you have not achieved? richard: we are finally on the verge of fulfilling that dream, the virgin galactic spaceship and going to space. david: now you are a sir, you were knighted. richard: i was slightly nervous. -- nervous net it -- nervous that it would have been a slice at the head rather than a tap on the shoulder. >> would you fix yoie

guy: bloomberg technology's mark gurman on apple attaining a market cap of $1 trillion.low this story and find out more business news and analysis 24 hours a day at bloomberg.com. that will be all for "bloomberg best" this week. thanks for watching. i'm guy johnson. this is bloomberg. ♪ ♪ taylor welcome to "bloomberg : businessweek." julie: and i am julie hyman. taylor: this week, we are focused on that hospitality merger and the fight over loyalty points. julie: yes, a very loyal customers on both sides. we are also looking at the issue of key men risks. taylor: that is when one company is relio

bloomberg tech's mark gurman and bob o'donnell, tech analysis research president went to the , samsungng in brooklyn and came to us with a full report. mark: they are really positioning it as this new big thing for consumers, but the reality is what looks new to consumers in this phone does not look different than its predecessor, the note numeral h. it has a slightly bigger screen, much upgraded stylus, more storage capacity, a bit of a faster processor, but i do not think that it is enough to move the needle to spur upgrades. emily: bob, would you agree? bob: generally i would agree. the difference is i would say people are not upgrading every year for any phone anymore, so the market realities have changed. right? people are upgrading every two years, every two and a half years. when you think it from that perspective people have older , phones, it is nice. look, mark is right. it is incremental at best. you know, the phone or excuse me the pen technology is kind of interesting. there were more interesting announcements later in the event, and frankly, if you look at the time spent

bloomberg's mark gurman has the answer. mark: after months of waiting, it finally happened. apple has become the first u.s. publicly traded company to hit a $1 trillion valuation, leaving the likes of amazon, alphabet, and microsoft in its wake, but not far behind. >> two, one. [cheering] mark: apple's milestone is significant and a testament to the rapid growth spurred by products like the iphone and ipad, as well as ceo tim cook's leadership after taking over from visionary cofounder steve jobs in 2011. [applause] >> and we are calling it, iphone. mark: but let's not forget that what is now the world's most valuable company was on the brink of bankruptcy as recently as the late 1990's. that was until cofounder steve jobs returned to the fold. since then, it was one success after another. and in the seven years since jobs' death, cook has launched apple to new heights with new devices like the apple watch, iphone x, and the air pods. he has also pushed the company deeper into new services like apple music, which is now a key revenue driver. and cook and his team are not sto

let's bring in mark gurman in san francisco, who got the scoop. this new device. is this similar to what tivo has in place fiasco mark: it seemed like amazon is coming out with technologies -- for the living room to go after tv device makers like roku and tivo. you see the shares being hit on this news quite a bit. this device would be similar to tivo in that it would have a large chunk of storage and you would be able to stream live television to your fire tv box, when you can connect your existing tv set to, and record it to view it later on that storage drive. scarlet: one thing i am struck by, why would amazon need this? why would people eat using something to view live television on amazon's devices when they provide video content? that is a good question. they want to own everything in the tv space. they have on-demand content you can dream at any time, but there is also like robbing -- live programming, where you can stream live showtime, hbo, stars, but also tap into live tv on their physical cds, where insignia andd with toshiba, and there

i want to bring out mark gurman who attended this event. what is your take on the specs note nine? ey're positioning it as a big thing for the consumers but the reality is that what looks new is new to consumers and this phone does not look much different. screen, andh bigger much upgraded stylus and a faster processor but i don't think that is enough to score many upgrades from the previous model. --generally a would agree people are not upgrading any phones anymore. people are upgrading every two years or two and a half years. it is incremental at best. the pen technology is kind of interesting. there are more interesting announcements later in the event. if you look at the time spent it was relatively modest because it was a relatively modest upgrade. emily: you have done incredible reporting on the iphone to come. todayes what was revealed compared to what you expect apple to reveal in the fall? mark: that is kind of you, it is a team effort. it fits right into a not very significant upgrade. in how manyicant different versions of the iphone x, different screen sizes and differe

vonnie: mark gurman, wonderful scoop on apple's new products. j. powell's cemented expectations for another rate hike in september. we will weigh in on the central bank cost path forward -- central bank's forward. this is bloomberg. ♪ ♪ vonnie: live from new york, i vonnie quinn. romaine: i'm romaine bostick caret this is "bloomberg markets." the u.s. and mexico have agreed to a nafta do a president trump signing off on a bilateral agreement. a former fed economist joins us from washington. roberto, thanks for joining us. i want to start with nafta. can you give us a sense on a nafta deal, assuming this gets done, how this changes the economic outlook that we are dealing with in the united states? a nafta deal would clearly be something good for the economy and good for sentiment and the sentiment of business decisions, but it is a very good thing. however, you know, maybe mexico or canada or the bigger targets of the u.s. trade policy. china is a bigger trade partner, so we will see if there will be a similar deal. they willl sense is work harder

let's bring in mark gurman, who couple of -- who covers all things apple. s just another s year? mark: definitely. the focus is going to be on the profits and camera improvements, if you really drill down. in terms of bigger picture for apple, it's a big deal. three new phones. this is their biggest seller. over two thirds of the revenues and profits come from the iphone. everything apple is about the iphone these days, so there will be too big bigger models -- two bigger models. so a lot to look forward to in two weeks to three weeks from now. i miss the high iphone x initial wave. how am i supposed to pick through all these different choices right now? mark: the question really comes down to which iphone you are using today, right? if you have an iphone x, you're probably not going to want to upgrade this year. if you have an iphone 7, you might want to take a look at upgrading to the iphone x. if you have an iphone 7 plus, you might be looking at the that will be x s coming as part of the new wave of devices. if you are looking at something on the lower c

mark gurman has the answer. mark: after months of waiting, it is finally happening. apple has become the first u.s. publicly traded company to hit a $1 trillion valuation, leaving the likes of amazon, alphabet, and microsoft in its wake, but not far behind. >> 2, 1 [cheering] mark: apple's milestone is significant and a testament to rapid growth spurred by products you have covered this company for years. what does this actually mean? gene: i think this means that apple has become really the fabric of our lives. it is testimony to that that this is something we do not even think about we rely on apple's devices. i think that is one piece, and i think it also means the company is so big right now it has an unfair advantage over a lot of other companies, just given the market cap, the stock it has. if they ever did want to acquire companies, they have more leverage on that. i think it is a wonderful reminder to be will to stick to doing one or two things exceptionally well. in apple's case, it has been one thing exceptionally well. tim cook got a lot of heat over the y

here to tell us more, bloomberg's mark gurman. who else but you broke this story? what do you know? a years -- after years of attempts to revamp mac, years of declining sales, they are planning to revamp mac mini, a new macbook. his is their lower-cost, sub $1000 laptop. they will be adding thinner edges to this year's model. emily: the macbook air got a lot of buzz. what's the significance of them adding a lower-cost laptop now to replace it? mark: what apple has seen over the past few years is that their pro users are not loving their macbook pro. they have been updating it to try to mitigate that problem. they tried to do that in uly. there were concerns over the changes made to the keyboard. there were concerns over the speed of the devices. they ended up issuing an apology and a software update to fix some problems regarding the performance of the latest macbook pros. they seem, edition from hp and computers running the chrome book operating system -- they have seen competition from hp and computers running the chromebook operating system. this new laptop is sort of their respon

mark gurman got a big wake-up call and we have him along with others. then, let's start with you. does the president -- ben, let's start with you. does the president have a point? >> some of the new conservative sites, farther on the right, more conspiracy minded, probably are not showing up much in google search results. news, which hex loves and watches religiously, comes up all of the time. we and d.c. hear this from politicians all the time. you only write the bad things. the answer is that that is kind of what the news media does. it's a common critique and something we hear a lot from the president. emily: what has been the response from google, mark? mark: i was talking to some folks there claiming this is outrageous and the idea that google -- they don't with his two years ago with the idea they were suppressing negative search results of hillary clinton. part of the issue is that google has been pretty secretive about its algorithm and does not share a lot of details. point, they're done a lot to dealing with criticism. the other direction that they service misinformation

more, here to tell us mark gurman and caroline hyde. you haven minnesota, covered this company for years. what does this mean? apple hass that become the fabric of our lives. it is testimony that this is something we don't even think about how much we rely on apple's devices and that means that is one piece -- it also means the company is so big right now it has an unfair advantage over a lot of other companies given the market cap, the stock it has. if they ever wanted to acquire companies, they have leverage. and last, it is a wonderful reminder to people to stick to one or two things exceptionally well. in apple's case, it has been one thing. tim cook got a lot of heat over the years for not going on in the phone, coming out with a cheaper phone and mass-market, and he got distracted or m&a, but for not doing he stuck to what he believed in and that was a third piece i take away from this milestone. emily: i have a chart showing apple at the top, but trailed by amazon, alphabet, microsoft in a pack rising behind apple. mark, you make

emily: here to tell us more, bloomberg text mark gurman and caroline hyde. and with us in minnesota, you ventures, managing partner of gene munster. we will start with you, given you have covered this company for years. what does this actually mean? means thatnk this apple has become really the fabric of our lives. that testimony to that this is something we do not even think about we rely on apple's devices. that means -- i think that is one piece, and i think it also means the company is so big right now it has an unfair advantage over a lot of other companies, just given the market cap, the stock it has. if they ever did want to acquire companies, they have more members -- more leverage on that . and i think it is a wonderful reminder to be will to stick to doing one or two things exceptionally well. in apple's case, it has been one thing exceptionally well. tim cook got a lot of heat over the years for not going on in the phone, coming out with a cheaper phone in the mass-market, and he got distracted or criticism for not doing m&a, but he stuck to what

.arket capital over $1 trillion let's cross to san francisco and bloomberg technology reporter mark gurmana bunch of numbers zeros.2 do we have to care or do we love zeros? mark: inferences -- in san francisco we call it the four comma club. it is historic. .oes it mean much? no it is representative of what apple has become. the jobs passed away, tim cook takes over. the question comes up, can tim cook fill the shoes of the greatest inventor of the history of the world for the last 100, 200 years, the guy who dreamed up the iphone, the mac? it turns out the answer is yes. he has tripled apple's market cap by coming out with new products like the apple watch, the iphone x entered into a trillion dollar company. haidi: it has been a remarkable road to get here, being a $1 trillion company. what comes next? how much more upside is there? mark: i think there is a 10 of upside for apple. it is ironic because we are coming to the end of the road for the iphone in terms of year-over-year unit sales growth which is what we care about at bloomberg, but what we see is the iphone becoming the hub for