mark mahaney joins us in the studio. thanks for joining us. u have called snap an innovation machine. what are investors not getting about the company? mark: this will take a long time to proof out. this will be the most volatile large cap internet stock for the next 12 months. it happens with profitability push that far out. all the value is in the terminal value. any little twist is going to cause the terminal volume to shift. we have had some competitive news. the big risk was whether instagram and facebook would ape all of the features. they are trying to emulate some features. brad: facebook messenger and instagram already have it. if you are snap, what is your differentiation now? mark: you constantly continue to innovate. they have done a good job on it. that is why people are trying to copy what they do. i think snap needs to make more of its features and offerings more intuitive to people. you have seen that with the camera screen. they've gone from symbols to chat and stories. brad: i'm still mystified by snap. mark: that is the upsid

thank you so much great dynamic as ever, mark mahaney, managing director at rbc. cory johnson, thank you for joining us. a story we are watching for you, tesla expanding its battery cell production. tesla ceo elon musk says the company is likely to build for bore -- build four more factories. tesla has one giga factory nearing the end of construction near reno, nevada. musk did not reveal any future locations straight coming up, qualcomm forced to lower profit forecast it may just last week. why why the chipmaker's legal dispute with apple is to blame. this is bloomberg. ♪ caroline: now another mover we watching, shares of gopro tumble. more money was rushing out of the stock in the latest quarter, beating estimates and giving a bullish second-quarter forecast. investors still not convinced to go push ahead with the turnaround. 75% of the shares on the market are now shorted according to its latest finding. now, the legal dispute between apple and qualcomm is escalating. the chipmaker says that apple is cutting off licensing payments related to the iphone until th

joining us now is mark mahaney with rbc capital markets. michelle. >> all right. as we head into this earnings season, who do you think are the best performers? >> yeah, you know, you're right, the setup is correct. the sentiment on the large cap, high quality large cap internet stocks has never, more positive in the last 20 years since i've been looking at this seblgctor. we still like some names. not back up the truck prices here. maybe back up the golf cart prices. continue to like net politics, contin netflix, continue to like google. facebook, slightly this year it's trading in line with the market. we like the outlook for goog. ing. >> net politics, no concerns about the valuation, cost of content, the subscriber growth, enough to offset whatever it is they're spending to try to retain those people? >> yeah, i think so. the one thing you didn't mention which comes up a lot when i talk with clients and investors is that risk from amazon, but i think the markets still underappreciates how many subscribers threat nix c subscribers netfli