i want to bring in mark gurman. what do you know? mark: october 8 is when preorders begin.nyone who is dying to get one, probably the best way to get it is through the apple store app. supplies going to be low given that they recently started production. october 15 they will start delivering and hitting stores. that will vary on the configuration. aluminum, steel, titanium versions. they have problems related to the display and the new display cover glass and manufacturing engineering revolving this ring. obviously, this is the screen size increase in the products history. this is the strangest apple watch launch i have ever seen. they announced it only three weeks ago, said it will be released later this fall. they could have said we are releasing it next month if they knew that was the case. i think they wanted to gather enough supply. emily: are the supply chain issues impacting any other apple products and will it impact availability into the holiday season? mark: you bet. they put a lot of eggs in the basket to get iphone units out there. if you go to the website and o

emily: i want to bring in mark gurman. what does it mean for apple? worse before it gets better for apple? mark: absolutely. they said they took a 6 billion dollar negative revenue hit for the fourth quarter because of the chip shortage and other issues. essentially, tim cook was saying if not for the chip shortage, we would have at a record q4 porter. he sang the negative impact will be larger than $6 billion. apple will have a year-over-year gain in overall revenue. last year, they reported $111.4 billion in revenue, an all-time record for the holiday quarter. analysts are calling for one hunter $20 billion, or were before -- $120 billion. you can imagine they will fall somewhere between those two numbers. those are huge numbers. that is growth year-over-year, but not as big as tim cook, apple, and some investors and analysts would have liked to see , given how strong the portfolio is, how much demand were seen for the high iphone 13. emily: what is apple doing to fix the issues? can they? mark: tim cook was defensive when an analyst asked about the

mark gurman did report, in large part because of u.s. chipmakers. they source parts from abroad, but is the answer really onshore? >> the answer has to be to diversify. over the past 30 or so years, we have gone from producing over one third of the chips to about 12% of the chips. probably more alarming is the fact that it is almost 0% of the leading edge is produced in the u.s. you have spoken endlessly, i'd listen to the last segment in the prior show, about a single kink in the supply chain that can take the whole thing down. you have a $.50 chip holding up the completion of a vehicle for ford or volkswagen group, pc needing a usb bus controller, a one dollar part, and they cannot get it, so instead of putting product on the shelves, it is completely stopping production, so to add capacity, we have to de-risk. taiwan is over 90% of leading edge, korea handling the rest. what if something happens? we can't have zero production here. i know global foundries are planning fabs, but it is two years and $10 billion to build these, and it will not insta

tom: mark gurman, thank you for your reporting on apple. i am reporting the data check, and i have got to say, oil has cratered. jonathan: cratered to what, $83? [laughter] there's people on radio who might not get the sarcasm. up on crude through $83.27. euro strength, your dollars $1.1655. now within 1% of all-time highs. tom: we have come up over 6% off the nasdaq bottom. in boston, washington, san francisco, and all across this nation and around the world, we say good morning. on radio and tv, it is about ok, now what? brent schutte is the officer of now what at the northwestern mutual company. what is the mood of your institutional and retail clientele that is worried, cautious, or flat-out scared? brent: we think there's been worries in the market since about mid may. everything was going well in this country. everything we tried to do over the prior year was coming to fruition. we had rising vaccinations, declining covid cases, and economic growth was strong. i think people wondered what could go wrong. the inflation commentary was t

mark gurman joins us. mark, what can you tell us?ark: you plug-in in your phone today into carplay, you get maps, third-party apps, google stuff, apple music spotify. but what you can't do is control your car's main function, whether that is windows or a backup camera, security, seats. your speedometer, basically everything else. what a lot of times you see drivers switch between the carplay interface and the interface that is built into the car. apple wants to bring all those interface elements, all those switches and controls you might use outside of carplay into the car experience. emily: how does this fit into apple's overall car ambitions? as you reported, there has been some executive turnover and it is unclear what the direction of the unit is going. mark: this is not coming from that unit. this is not related to the self-driving car. but this would give apple as a company further insights into the car world. they would be meeting with more potential car partners. so it gives them a little bit more experience in the car world.

i am mark gurman. ower on." ♪ caroline: and you can sign up for mark's weekly "power on" newsletter at bloomberg.com. let's talk about the biggest pop culture trend in the last couple weeks that i haven't yet viewed, "squid game." the korean show is on pace to be the biggest hit in the history of netflix. it is the most popular show in over 90 countries unprecedented , for any television show ever. our reporter joins us now to talk about this phenomenon, and a phenomenon it is, i think i have seen it more on social media than on tiktok. but i haven't viewed it on netflix yet. what is it about the scale, the network effect that netflix can bring international hits? >> with netflix, they have over 200 million paid subscribers, and they are scattered all throughout the world. when they have a show that really catches on, they are able to reach so many people in so many countries in a way that almost no other media company can, because media is often localized. netflix has a global network that allows it to