yes, apple is widely owned. it might affect apple.g into obviously the busiest time of year. the fall period, the holiday quarter, the new product announcements that are coming. i think that's going to overcome the skiddishness people have. last year, remember, from november to march, the stock basically doubled. >> eric, we got to know you because you being outspoken in yahoo!. yahoo! news out suggesting they're very close to 20% -- they're sale of 20% of alibaba. are you surprised they aren't going to return that to shareholders shareholders? are you still constructive on that stock? >> absolutely constructive. there's nothing built into this stock. you're getting this stock for purely a discounted value of the asian properties. there's a negative value currently on this operating business. i think marissa meyer will do much better than running a negative operating business. so, i'm very constructive. the deal should happen by wednesday. alibaba should approve the deal on saturday. they're selling after their stake, keeping some of

order is what is the next product, where is the next growth, come back to itv, so you can still own appleit's a great play and i'm not trying to start early here but it's a good thing that doc is sitting between me and grasso. >> you took the words out of my mouth. i was afraid to bring you down and put you at the same table but behave yourselves. >> it's nice to see you at the adult table for once. >> may need some hazing rules but from the moment i walked in it's been a battle. >> all of asso have his back. >> the point on the iphone, i don't think, steve, they're really looking for another product launch so quickly because they have this one, it's 70%, 80% depending on how successful it is of their profits, they'll focus on the iphone, all they need to hold the price point where it and the sentiment. >> joe terranova, do you think the trcriticism or the controvey of mapping software or the map app really makes a difference in the long run? yeah, remember everybody was talking about that dropped call thing when you put your thumb on a certain area of the phone before? i don't hear anybo

apple. i'm not going to step in front of the freight train. > > but would you sell at $750? > > if i owned it previously. i wouldn't short it. but yes, i would absolutely be looking to take some profit at the $750 level, which we could easily see by the end of the year. > > it sounds like apple is sort of rewriting the books though. it's quite an anomaly. > > apple is indeed. apple has rewritten so many books. they have such a luxury problem. they're not worried about their products selling, they're worried about delivering enough of them. what company wouldn't die for a problem like that? > > all right. randall liss, you have a good trading week ahead of you. thanks so much. > > thank you so much. that's first business for monday. tomorrow, gas credit cards. hmm, they may leave your wallet on empty. from all of us at first business, have a great day. >>> good morning. we are following breaking news out of hayward. police are investigating an officer involved shooting. >>> anger continues in san francisco's mission district following a police shooting last week. the apps many are hoping to

is there a way to make money from this phenomenon without owning apple stock? the answer you can't afford to miss is straight ahead. >>> and the battle ahead. investment profits front and center. as congress takes on capital gains this week. could this be a linchpin moment for the future of tax reform in this country? that's all ahead on "closing bell." with the fidelity stock screener, you can try strategies from independent experts and see what criteria they use. such as a 5% yield on dividend-paying stocks. then you can customize the strategies and narrow down to exactly those stocks you want to follow. i'm mark allen of fidelity investments. the expert strategies feature is one more innovative reason serious investors are choosing fidelity. now get 200 free trades when you open an account. >>> welcome back. stocks struggling to fin irhigher in the final hour. mary thompson has the latest. >> another low volume monday and s&p 500 down six points as we head toward the close today. it has recovered from the dip that it took. of course, after oil fell off today

that means if you don't own apple outright, your 401(k) probably does. so how much of apple can be too much of a good thing? shannon zimmerman, "morning star's" associate director of fund analysis says that depends on your risk tolerance. >> it's a different way of thinking about it, certainly in the world of mutual funds, compare your exposure to a company-- apple in this case-- to the exposure that is a relevant benchmark since as the s & p 500 has. >> apple stock comprises 5% of the s & p 500, about % of t nasdaq, d abt 9% the russell 1,000 growth index. still, with apple stock on a tear, some investors might be getting jittery are a correction. zimmerman doesn't think the current price is out of line with the company's earnings and its prospects for the foreseeable future. >> if you look at forward earnings, what the company is trading at relative to what anists expect it to do over the next 12 months, it's moderately priced. >> the newly released iphone 5 appears to be selling out, zimmerman says a technology company like apple always has to be on th

has categorically denied put a possessing the information in the first place on their own apple has denied supplying the information to the f.b.i. and has tried to calm consumer fears let's not forget apple is on the verge of a big announcement slated for next week so to break this all down with me earlier i was joined by our own web producer andrew blake i started off by asking what does this all mean. they're covering stories about anonymous and hacktivism and the whole like this internet subculture entirely every story they're going to do is going to be shrouded in secrecy because you are talking about a culture where there are no names or no identities at least very rare and so what is fact and what fiction is a very very blurry line there so if history is any precedent what we're looking at very well will be real because the follow through quite a number of times before so so let's back up a couple of days and so you're saying this. is like an operation of anonymous. collective members for they pretty much go to expose. security and rather than the need for security in order to protec

if you want to know how to buy apple going forward, you need to know how it's made sense. it's really it's ownind of animal. remember when apple reported in late july and the company missed the numbers, the stock actually did sell off, it was hideous selloff. that pullback when apple hit a solid floor around 580, after that it was off to the races for the following and and so how did it make sense after the latest move higher? apple traded into the gap post earnings, july 27th. the stock filled in that gap in just three days. there's the fill-in. showing power and tremendous demand for traders to get excited about it. that's what it did. it turned on people. it's already been put on sale because it had blown up after the quarter. the second buying pattern came when apple cleared 618 making a slow -- a higher high, okay, there's a little higher high. you see, because first head and shoulders showing commitment after filling in the gap. after that you caught another leg higher. caught a third viable pattern when apple took out the all-time high on august 17th, right there. this is usually a sign

but i've got to tell you, it's becoming a lot harder to own apple than it is to own google. you know what? i think that's the real issue when you compare them right now. the reason -- it's because the expectations for apple have gone completely and utterly insane. what people demand of apple at this point is quite frankly ludicrous. google no, one even seems to care that much about expectations. the run at apple is about as in your face as it gets. but google has been having a stealth rally noticed only by my colleague brian sullivan on "street signs" and yours truly. given that apple is up 71% this year while google is only about the same amount as the s&p 500, you can feel more comfortable about owning google knowing you won't be giving up big 2012 gains if the market goes down because it doesn't have any big 2012 gains. when i say that people have gone bonkers over apple's expectations, you only need to look at the 1-2 punch of the sunday "new york times" bits article entitled "disruptions: will apple be the first to break 1 trillion?" and the & then the absurd pieces toda

a little bit high we are goolg than maybe some of the other companies we own. >> when it comes to being pushed out of the applesystem, why can't it survive in its own android ecosystem? if android is actually gaining share and there, what's the big deal? >> it's a great question. they probably can coexist, there's no doubt about it. but to be excluded from the apple platform i think would be a negative impact for the company going forward. we're talking about growth rates going forward. i agree with you. right now they're kind of basically 50/50 and android is beginning to get a simultaneous possession given what happened last night, is a good way to describe the environment, but to not is potential for 50% of the market, if something happens there, that could dramatically impact results. >> darren, in terms of some of the chinese internet, very bullish on cena. talk about valuation, though, and where people -- you see a myriad. cena actually is a value play in the my of a lot of these guy that is are grossly overpriced. but again, give us an idea of where you see kegger both on earnings, but more importantly

apple is still something to own. some of the biggest hedge funds in the world which are not married to any name i think is crossover money that will leave this name if they think the momentum is gone. that is yet to be proven. absolutely. >> that is where the big percentage decline occurred today in the sky works solution. it was in the cirrus. you have to pay attention there and those become absolute decisions. >> you said apple and this is part of the reason you are seeing the s&p. i look at the pharmaceutical names hitting the new highs. the financials have had a magnificent run. you look at bank of america, citi moving in concert to the upside. you have seen the broader market rally. apple is sort of edged up slightly with google really taking the lead right now. when you take a look at the rest of the tech space you can look at other techs like ibm. it is not just the two names that we focus on so much. i look at the broader names. >> the sas, the largest on the s&p is apple over the past 13 weeks up 19%. google

neil: do you own apple stock? >> no, not anymore. >> do think it has had an uncanny and incredible too good for real run? >> if you look at the multiples, it is justified. the stock price is justified. candidly, i think they probably have four or five years of stuff in the pipeline and i think that that is no reason it will change for a while. >> i am curious, stepping back from it, perfection into this company. i'm wondering whether that is different than the apple that you left today is different than the apple that you will be five years from today. in regards to the phone, in this case, what do think? >> ultimately, people make mistakes and businesses will make mistake. what i think apple has done differently since i started and steve succeeded me, it was staying focused. and the old days of apple, everyone had something different. and it was a nightmare. when i came in, i basically told them that are five things that i want to work on. if you're not working on those five things, stop and get working on that s

you already own apple because mutual fund investors, yes to run these have bought it and tell their headsen. gerri: that has been a good thing because that is actually boosting. apple has been a savior to the market. s&p, nasdaq. a big player for why the market has been doing well. gerri: more than one stock. this is the only stock we ever talk about, and at the end of the day, are their component makers. >> the qualcomm as of the world. another one to look at is other retailers, consumer discretionary index. people got in by this. guess what, stop at best buy. it gets them in the mood to spend money. a big boon to the economy. and need to come on. gerri: on the other hand, i play contrarian. everybody is so excited about something. >> that is let me with the movie titanic. here is the thing. it's like a frat -- / crash. and people spend a lot of money on something that's when you don't want to watch it. gerri: its money. >> put it on the giants. gerri: thank you for coming up. but the stock price around $700, apple is by far the world's most valuable company. how much cash does it have o

apple. it's a widely owned stock. it is not going to be breaking anytime soon but we gain 90 points. we are up over 15% since july 26th. there is a lot of moves going on in this name. >> it's joe. let me ask the question this way because i think a lot of apple events are becoming about the separation and the distance between themselves and the competition. was there anything about today where you were able to say some of their competitors that are well behind in the race they closed the gap? >> some people would say it was apple that needed to close the gap. the old 3 1/2 inch screen was really quite small. they are moving it to a slightly bigger screen, 4 inches. the market is selling 4 1/2 and larger screens. there is some traction for that. the thinner is fantastic. the lte is great. the innovations continue to get smaller and smaller and smaller for apple. it is ultimately still just a smart phone. >> i'm curious, if i own apple right now should i sell it and wait for the pullback back to 600 or let it ride and maybe add more if it comes back to 600? >> i'm not going to tell you

i have been sort of not a believer in owning apple stock. >> what is behind wall street's love affair with it. mark, do you think that is a bad thing that so many people love apple. >> the major point is you will never find from wall street the head's up in advance. i point out that right before enron went bankrupt you found just as lop sided a consensus for it as you find for apple today. so it's basically a situation where despite what the guests said he is definitely a minority. most of the analysts on wall street have they found a stock that they don't love. 1,500 stocks in the s&p all but 1.9% of them are hold or higher which is an amazic statistic. >> one of the things said is the social phenomenon of it. to me i find it interesting that there is this attachment between the analysts that cover it and the people that own it. if you say anything negative about that stock on this show it lights up like a christmas tree. to me that is not healthy. ultimately it will end at some point. is it fair to say that those sorts of social phenomenons are not healthy in a market environment? >

i owned apple back in the 200s and i was a genius. i got out at 250.good part of a balanced portfolio. commodity prices have not hit the super cycle. if we keep rates relatively low for a long time, inflation at some point will creep up. and, listen, this is a great way to balance many people. buy the dip, simon, take the trip. >> many people, richard, were very alert to the fact that the fed might have abandoned its mandate on inflation when it came through and said it would buy mortgage-backed securities indefinitely. that was a major, major change for the federal reserve and yet gold has not performed that well in the wake of that. given that huge watershed change. >> listen, i disagree with that a little bit. i think 11% is a heck of a gain. and, listen, another fundamental part is central bank buying gold to the tune of 400 metric tons per year and that's a gain of almost 100% according to the world gold council last year. i think these guys are buying gold and it's always going to be a currency, simon, so, again, i think the analogy with the s&p,

bigger stocks, intel, wells fargo, verizon come to mind or the recognition you must own, not trade, own apple until it's too expensive versus it's growth rate and it's not near there yet. you have now heard pretty much everything. you've heard the last of when i've done over the last 12 months, at least for this evening. while i can already see the youtube about how cramer himself admits he's always getting things wrong, i thought for posterity i should lead with something more positive about "mad money," the youtube clips you post or go on jim cramer economics, hey, knuckle head, didn't you hear everything i got right? i'm going to give you examples mistakes i've made in true atonement. it's very rare now i suggest a quick trade that goes awry because anyone who has watched the shows knows i've moved away from trading. i cajole you into buying stocks, investing in stocks. my mistakes rarely have to do with homework. these days i'm doing more and better homework than my hedge fund with a terrific staff of savvy people who have been with me a long time. if anything, it's the opposite of rookie

apple has outperformed. bottom line, which is the better stock to own? mike murphy. >> i think i would rather own apple.ain reason is because of the entire build-up, the entire ecosystem. my kids in school get ipads, they have maces at home, they have -- they'll be getting -- when they're old enough -- iphones, ipads. the ecosystem is why i like apple. ail throw this out there. apple right now is still moving on what steve jobs put together. when you get out, a few more years, supposedly steve jobs had a five-year plan. two years, three years down the road, i think then it's going to be really interesting to see what type of innovation apple can put out there. for right now, long apple. >> like the soviet union, the five-year plan. guy, what would you do here? i look at google. it's not moved clearly as much as apple. why not go for -- would that be a valuation play? >> so, if you flew from mars, today's the first day here, what stock do you pick? i go google because i think it has tremendous movement behind it. mark ma hhaney, $850 price targ on it. while i think apple can trade sideways for a while to

would be wouldn't own apple today but a chunk of apple depending on what your investment in apple is.ferrari. this is another fer rayry. 1963 gto. you have the capital to do this because your party started the business. >> that's correct. liz: you're a real ends period of time. does it matter if they don't drive? >> i do drive them. i was in the olympia mountains and took a $3.5 million car on a trip through europe. liz: how do people get involved if they believe this is better return than the s&p 500, which of by the way since 1967 has returned much less than 17%, about 7%. >> we'll not be as liquid. it will be a lockup fun like the fine art fund launched in england in '74. we'll have a great number of people involved in vetting the cars. liz: will there be a minimum amount of investment? >> we're still working to determine the bottom amount for minor investment. liz: what is the best car in it right now that will be in it? >> probably a racing ss mercedes. liz: which is valued at what? i think we have a picture of that? >> somewhere in the neighborhood of $20 million. liz: $20 milli

ahead we're looking for an investment place for those who don't own apple. my travel trust does. "mad mon,"

>> we own apple. we've trimmed it. it's getting to the point where it's still undervalued.asically, what i am saying is here's an analyst coming out tomorrow or two days ago saying amazon's cheap because it's going to earn $2 a share next year at $300 a share. so it's a tale of two markets. there's a lot of value in there in free cash flow companies yielding. that's where you're going to make the money. >> can you blame the small investors for avoiding this market though? with all of the volatility, all of the problems we have in the economy right now. let me ask you this, what could go wrong with your forecast? >> a lot of things could go wrong. they don't solve the fiscal cliff. europe does the wrong things, terrorists attack. >> aren't those all realistic possibilities? >> i'm talking about things you can control. >> do you want the sure thing? how do you get it? i want the sure thing too. so guarantee me that -- so when you invest in the market, if you have the potential to make 15% rather than 2%, i think risk is in the bond market. that's where all the money is going.

and you must own, not trade, but own apple. until it gets to be too expensive versus the growth rate and the average stock and it is nowhere near that yet. okay. all well and good. you've now heard pretty much everything, everything. you've heard the last of what i've done right over the last 12 months, at least for this evening. and while i can already see the youtube about how cramer himself admits he's always getting things wrong, i thought for posterity i should lead with something more positive about "mad money." when i look at the hard youtube clips you produce, i can remind myself, hey, knuckle heads, didn't you hear about the stuff i got right? i'm going to give you specific examples of mistakes i've made in a true day of atonement fashion. it is ant all about blown judgment. most of the things i do wrong these days aren't rookie mistakes. it's very rare now that i suggest a quick trade that then goes awry because anyone who has watched the show over the years knows i've moved away from trading, i'm trying to get you to

so i wouldn't bet against apple in terms of owning that digital living room and that's precisely one ns we've been long the stock for as long as we have. liz: sam, apple tend not to make lots of acquisitions and when they do they're very laser focused but if they came to you, i know you're only 25, this would be maybe a dream or not if you want to keep running groove shark and came to you we want to buy you, what would you say? >> hard to say. i'm here in this business to change how artists and consumers interact. if it went along with the vision there would be a conversation to be had there. everybody looks at apple a behemoth and everything they go into is suddenly successful. they have a lot of failures. their pink service on i tunes hasn't had the success. when it comes to nailing social they haven't had social on other products. make great hardware, make great software and user experience makes them formidable. at the same time social and content in terms of bidding content those are areas they're not really into yet. david: this isn't fair to my producers because they're giving

stockpile maps, actual paper maps if you own apple products. also honey booboo dvds, 50 straids shades of grey for her, viagra for him and call me maybe soundtracks. i hear zombies flee from the sound of "call me maybe." >> thank you very much. bertha coombs with a market flash. >> this will cheer you if you're long. metro pcs shares are popping here on reports that they may be in talks. they've engaged suitors for the company. you can see it's moving higher. the stock actually already up this year at some 39%. 40% now year to date with this move, simon. >> thank you very much. british prime minister david cameron getting himself in some real hot water on television last night. david letterman asked mr. cameron a question to which he had absolutely no idea. we'll show you how the talk show star put this world leader on the spot. next. [ male announcer ] the 2013 smart comes with 8 airbags, a crash management system and the world's only tridion safety cell which can withstand over three and a half tons. small in size. big on safety. which can wi

apple? i'm not sure. i would rather own google. i would say you are limiting the risk but trying to take advantage of the ability to sell some of those downside puts. they can be use strategically in situations like this. i don't know there's that much downside risk in google that i feel like i need to cover that. >> my first thought is that there is microsoft and yahoo. you could have said the same thing about them in terms of being comparable to where google is at. i don't know. >> i think the interesting thing -- i think you're absolutely right. yahoo has had a lot of trouble. one thing about this is that google is dollar expensive for the stock. when stocks get expensive the options get expensive, as well. just on a dollar basis. i think this is a low cost way to make a bearish play on a stock that is very expensive. the options would be very expensive. one thing about google options, the bid spread gets really wide. if you did this thing on legs and sold the bid you would pay almost $7 for this. you have to use limit orders to

they own 68%. apple is number two, owning 17%. >> that would surprise a lot of folks. mobile, we know it's all about china, the world e's most populous country. is apple a huge success there? >> a huge success. we, they have over a billion mobile users, so white it's a huge success, it doesn't have full market share. what it has is it's only fourth in china because first in china with samsung with 19%. apple in china has only 10%. but you wouldn't think that if you speak to chinese. yesterday i spoke two chinese students in the line waiting in the apple store perimeter. i said i believe samsung is number 1 and app sl number four. they said, no, no, no. apple is number one. >> they must be excited in china about the release. >> yes, they are, but it isn't released yet in china. there's no iphone 5 available in china yet. they'll have to be very, very careful. because when the iphone 4s was released in china, they didn't open the stores on the date or time they said they would, there were riots. people threw eggs. people were absolutely furious. there was fighting going

apple is replacing parts of google's system with its own. >> this is an issue you will hear as a major tenant of the case in google that the fact that they have been kicked out. when you think about that as far as tablets is concerned it may be a bigger issue because apple has dominant market share. smart phone share is obviously growing. the story is going to be how much is google going to have to pay for search queries in the smartphone and tablet space going forward? apple is trying to keep that at home with their new mapping system. >> so you're bearish google. >> i think this is a story that will catch steam here. there is nobody happier right now than the google folks that the apple maps app is being panned. at some point this will turn against google because they think they have trouble monetizing mobile search. >> dan tonight is using a strategy called a put fly. it is kind of complicated. we want to break down the trade for you. it is a bearish strategy where you buy one put and sell two lower. it sounds complicated. you want the stock to go to those two strikes that you are s

-can we make our own apple cider? -can we pick apples?- who do you have with you? you?l fall festival will be held septembbr 22nd from 10:00 a.m. - 4:00 p.m. admission is free. for more information log on to fox baltimore dot comm slass morniig. ((toss to weather)) 3 (((d lib meteorologist)) 3 3 3 3 romney and his remarks have landed him in some hot water! water!a hidden camera at a fundraiser caught some off the cuff statments...about obama su. supporters.that brings us to think romney's comments will pffect the outcome of thee ellction?our phone lines are open now.. 10-481-4545. you're watching fox 45 morning news.. all local.. all morning. morning news.. all local.. all morning[ male announcer ] s... and those well grounded. for what's around this corner... and the next. there's cash flow options from pnc. solutions to help businesses like yours accelerate receivables, manage payments, and help ensure access to credit. because we know how important cash flow is to reaching your goals. pnc bank. for the achiever in you. a west virginia casino spending a fortune... to

processor,e a faster graphics, and with ios 6, its own mapping system. apple no longer has to rely on its competitor google for maps. >> there is enough friction that oute felt they had to go entire world. >> you can use voice command to launch apps and it posted facebook. so much buzz has been built sales couldphone 5, help boost the u.s. economy. >> the same price as the 4s it replaces. >> phone orders start this friday. to get usedill have to -- that old charger has been replaced with a smaller connector. >> that was one head turner, one.is another a gas station near philadelphia gasoline for nearly $10 a gallon. not a typo. they jacked up their prices as of a one day protest against the parent company. they wanted to send a message to say overcharges them to sell gas. to charge their customers higher prices. what would you do -- we did not see a long line there. >> know, we did not. >> we will get a break, but i the weekend will be like the past couple of days. day againautiful today. hardly a cloud. i could not find a cloud. the one-is we are losing two d

if you own an apple product, if your family buys apple products, if you own the stock, are considering owning the stock or if you own a mutual fund, and who doesn't, be with us for the full hour as apple now shows off its new product line. >> highly anticipated, certainly, that's an understatement. that's why we have brian sullivan outside the conference hall in san francisco. we have a very sophisticated system designed to bring you the latest news and pictures as they happen. so brian, what are we expecting? >> this is going to be a big time event here. maybe we need a giant sledgehammer to smash a screen a la 1984. here's how this is going to work. this is why i walked all the way out here last night. lights just dimmed. al gore seen, we are ready to go. we have a full crew here. jon is going to be sending us information as it occurs. he is going to deliver that information via electronic message to me, and then i will use that to deliver it to you and our audience to make sure that cnbc viewers get all the latest on apple. the expected iphone 5, maybe an ipad mini. maybe maybe grea

it is a very hopy trade and i would much rather own an apple or google where they take those products and turn them into profits over time. i think amazon hasn't delivered for too many quarters. >> the stock as we said, do you follow amazon? i know you don't own it. >> my last appearance on the program i think was "squawk box" was the day of the facebook offering and i said facebook was being priced like a beautiful woman without a blemish and any blemish will kill the stock. i would rather own google or apple and i think both are up quite substantially and regetably, i don't know about facebook but regrettably we see what happened there. >> we may take a little conversation to facebook at some point during the program as well and throughout the rest of the program we'll go inside lee cooperman's portfolio. let's start with apple. it is your top pick. it has been a winner. it is much loved from all of the hedges or at least most of them. are you as supportive here of the stock as you have been all along the way? >> it is not our largest position by far. we have been in it for quite a

instead apple's own 3-d voice-guided navigation software will be there that is because apple and google aren't getting along. >> there's enough friction that apple felt like hit to map the entire world so it wouldn't be dependent on one of their biggest competitors. >> reporter: youtube app also disappearing youtube owned by google samsung not best friends with apple involved in a second patent lawsuit won't be using samsung memory chips. there seems to be consensus, slightly thinner, larger screen, two-tone body available in black and white, price of $600 the best guess shipping around the 21st of this month. a lot of speculation we'll know for sure 10:00 this morning when the full announcement is may here. terry mcsweeney, abc7 news. >>> -- >> looking forward to that more news 6:05. national championship air races get reno today. organizers have installed new safeguards in the wake of last year's tragedy. a 74-year-old pilot from florida lost control of his world war ii p-51 and slammed into the stands, more than 500 miles an hour, the crash killed 10, as well as the pilot this year t

apple do it. again, i'm kind of like dave before. i own some apple but i don't know if i want to keep running, so investors need to know why and what is being rebalanced versus trying to find a trade in it. >> yeah, but, i mean, when we know what's being rebalanced. do you want to follow that? mean, do you want to follow the people that have -- have sell orders to sell coca-cola over the short term, or is this you are waiting for things to settle out? >> i think you wait for things to settle out. let's look at quadruple witching yesterday when we had index options and index things rebalance on thursday. everything worked out clockwork. now, before, you know, i've said to you, i always like to have triple witching and quadruple witching sitting on a pile of cash, but yesterday the biggest open option interest was at 1450 on the cash s&p, and what happened is the market went down to 1450 and then tore it up right from there meaning it was classic textbook, so today my thing is don't do anything. why? because we had tell yesterday. everything

when you click on the maps icon in the new iphone software no google maps, apple's own 3-d voice guided navigation software because apple and google aren't best of friends these days. >> there's enough friction between apple and google that apple felt like hit to map the entire world so it wouldn't be dependent on one of their biggest competitors. >> reporter: samsung also not best friends with apple two involved in second patent lawsuit the iphone 5 according to some blogs won't be using samsung memory chips, apple's you tube app disappearing, youtube owned by google. the new phone we know a few things, we think, slightly thinner, larger screen, two-tone body in black and white. some say ipad might ab announced, also maybe -- most bloggers think that is for next month. the price of the new iphone whatever it is called is going to be about $600 they are talking about shipping around the 21st of september. that's what we think we know. we'll know everything or a lot more at 10:00 this morning when the announcement is made at the yerba buena gardens. terry mcsweeney, abc7 news. >>> we'll

the latest update, apple replace google maps with their own apple maps apps on the i phone and a lot are upset. geographical error is beleaguered and missing information and features are some of the complaints about the apple mac apps. i abraded and now you tell me. dennis: clear diminishment in service. cheryl: i use maps all the time they. dennis: this is a big gap. when you have the wall street journal first page story that they comes out that there's a backlash over the map apps shows you how users and the faithful get caught in the crossfire. when they get into this ridiculous spitting match over whether we use our air when map or not. cheryl: it is all over. dennis: one of the biggest gaps of the republican convention may mean big bucks for clint eastwood's new movie. cheryl: violence continues in the middle east, one of the leading money mind the emerging-market is here with his thoughts on what is happening in the region. as we go to break look at the next s&p winners and losers and on the winner side you have expedia and cbs. right back. [ female announcer ] they can be enlig

week apple released an update to its iphone and ipad operating system, replacing google maps with apple's own version. users aren't pleased. the new maps have fewer details, lack public transit directions and misplace landmarks. while apple fixes the problem they recommend you download competing maps to find your way. google maps is taking you underwater. can you preview scenes from the deep on your computer. here's a diver swimming smoothly through the great barrier reef. his camera snapping thousands of pictures. >> you can look all over the place and really just experience it for yourself. >> the google street team has mapped six underwater spots. so far you can expect more in the future. >>> has it happened to you yet? you turn on your computer and then you notice something that says your computer has been frozen because of chirn porn and unless you pay up you will be prosecuted. it's called ransom wear and hackers are making a fortune off of it. >> how it works and how you can keep your computer from being hijacked. >> think of it as the modern day ransom note. hackers get into your comp

singer phi own in a apple spent wednesday night in jail in the same border that busted people on chargeamounts of had a shish and marijuana were found on her. >>> paris hilton is in damage control after radar online released a 50 second clip of a recording reportedly made by a new york cab driver in which hilton calls gay men, quote, disgusting and further says, again quoting, most of them probably have aids. >>> well, at the box office this weekend the horror film "house at the end of the street" should top a crowded but who hum field with roughly $18 million. >>> trouble at the curve with clint eastwood and amy adams should have 13 million. dread should have the same amount and should debut with around 12 million. and finally "end of watch" with jam gil lynn hall as an l.a. cop should open with also about 12 million. not as many good pics as normal. >> i do want to see "trouble at the curb". >> horror films we've said many times are out of the question for this one. >> i can't handle them. >> yeah. >>> this comes to us from kvoa news 4 in tucson, arizona, where nasa altered a flight p