still ahead, qualcomm president joins us next. bloomberg. ♪ taylor: uber option to its transportation menu, it rolled out uber bus monday, and customers can use the bus. details on the ride around vegas with bloomberg. strategy. a change in we are trying to put the riders first, to build trust and loyalty. public taking transportation and not uber is in their best interest. knowing we have their backs, we believe we will build up loyalty over time, what is best for the riders and uber. it is revenue-generating, they are getting the same amount they were before. we are not adding any surcharge. >> what is the benefit? >> it is about the lifetime relationship we are building with our riders, where uber is the one-stop shop, the first app they pull for any mode of transportation. >> what about outside the u.s.? what other plans do you have around the world? >> the amazing thing about uber, it is such a global business with 700 cities with uber ridesharing, and 4 million active drivers on the platform. we are looking to go into more c

micron, qualcomm, verizon. tesla ceo elon musk cuts a rug after delivering the first customer cars from the shanghai factory. shares touch a record high. this week brought increased tensions between the u.s. and iran. a military strike in baghdad and -- in baghdad took out one of iran's top generals. they responded by launching missiles at u.s. interests in iraq, roiling the markets and creating new fears of cyber warfare. cybersecurity firms like cloudflare were up this week as a result. i was joined by the director of strategic threat at an ai security firm. >> there is a significant distinction between iran's battlefield capabilities and where they are on the cyber front. they are never going to go toe to toe with the united states in this realm in a conventional battle. in the cyber realm, they have a greater chance of pushing back more dramatically and having a greater impact in the united states, so even though they have not gone that route in terms of immediate reprisal, it is not out of the question tha

taylor: that was qualcomm president cristiano amon.oming up, the food delivery business is getting crowded, and grubhub may be looking to consolidate. later, tesla ceo elon musk has reason to celebrate as tesla's production and delivery efforts in china get moving. this is bloomberg. ♪ taylor: it's no news that microsoft competes with amazon in the cloud business, but a new target seems to be in retail customers. for details, i caught up with bloomberg and mizuho analysts. >> we are talking about this, microsoftll, because ceo satya nadella is keynoting a big retail show. retail is one of their most important sectors. generally speaking, web services amazon dominate the market, but none of the retailers want to work with amazon, which is one of their biggest competitors. you do not want to line amazon's pockets with cloud revenue. microsoft is working with a lot of these customers, like kroger and walgreens and now ikea, on a bunch of different things like store of the future concept. ways to help these companies e-commerce sites bette

president qualcomm christiano amon.or this edition of loomberg technology and bloomberg technology is live streaming on twitter. check us on the at technology follow our global breaking news network at quick twitter. this is bloomberg. credit credit hour away from the market open in japan and south korea >> good evening from bloomberg's new york.dquarters in i'm kathleen hayes welcome to day break >> our top story this hour. more troops to east.iddle world trade near $70 while gold remains at a six-year

qualcomm i spoke to the company a couple of weeks ago. versus 4g they will get 1.5 times the dollar content on 5g phones that's big and qualcomm is still not -- we have a long time qualcomm bull here waiting for it to pull back i am not sure it does. >> i am not sure either. >> in terms of amai. i have seen work on the data that continues to go through the pipes. globally it is there the traffic comes through, 4g, 5g or 3g they are positioned extremely well going into semis, i did work -- i talked about a dozen of those companies over the last month or month and a half i charted some that are in a portfolio i am looking at. they -- if you look at ten-year periods, ten-year period 3g, ten-year period 4g you will see the companies at the smash outperformed the s&p by 1,000 basis points outperformed the nasdaq. there are some stocks in there that are up 1,000%, 750% it is not that unusual why would i sell that here particular chi when we are in a new age where so much more is going in autonomous cars, we talked about. tesla over autonomous c

owns the ip here which is why apple with qualcomm they want to use qualcomm chips in their phones qualcommwhole cycle, been dead for ten years. if you go back to 2011 the stock was 80 this time they got it right, i believe. and you'll see the stock continue to move if you want to be in phones, if you want to be in the cyber tie up which will read the pavement and communicate what it's seeing to other cars on the road. you have to have a 5g massive build out. >> had a decent run in the short term still buying even at these levels >> i built my last before the last upgrade pretty full position right now i don't know what the quarter will be. don't care hope it gives me more opportunity. >> up next we'll bring you uninterrupted coverage of the final minutes of trade when we take you inside the market zone and you can always watch or listen to us live on the go on the cnbc app we'll be right back. we made usaa insurance for members like martin. an air force veteran made of doing what's right, not what's easy. so when a hailstorm hit, usaa reached out before he could even inspect the damage. th

i would argue a company like qualcomm for example, not that it's perfect. they've done plenty of things that i wouldn't want. but that is a company that came up with the five g. chip and this is something that makes the smartphone smart. in the current environment they are having to duke it out just to stay alive in three continental legal battles with other american companies at the same time that you have china for example rulin ruling out ont one road working seamlessly to institute the chips and technologies into an entirely new ecosystem. i think that is a model we should be looking much more carefully at them the sort of was a fair zero-sum game keeps margins as tight as you can, put jobs and products help to the supply chains when you can. we see in the last few weeks and i'm us the number of corporate scandals that kind of zero-sum allen's sheet financial thinking has led to and i don't think it's leading us to a good place. >> so, if we think about the different systems for dealing with the challenges of big companies, the legacy in the u.s. is ver

, as well. -- micron and qualcomm, as well.aylor: well, adam, what about your thoughts about forced tech transfers and some the issues surrounding i.t. theft? -- ip theft? adam: the chinese agreed not to force technology transfers through joint ventures, or formal or informal methods, but the problem is the chinese has -- have always said it had enforced technology transfers. it is just the state of the market that u.s. and foreign companies have chosen to move manufacturing, or form r&d centers, or shift joint ventures, so the chinese are agreeing to do something they have never done before. on the ip side, this this is in the direction that china itself wants to move. china has been increasing its own ability to enforce i.p. laws. it wants to be able to protect ip reform because it wants to protect chinese firms that produce it. there may be more traction in this space, but the proof is really going to be in the pudding. taylor: adam, what would you like to see in terms of the execution around those two issues? adam: i think

look at qualcomm. qualcomm hitting a 20-year high in this final hour of trade after the wireless chip giant got an upgrade from citigroup to a buy with a price target of $108. it's at $95.70. citi's earlier call was 89. citi says it sees upside to revenue and margins as the 5g race takes shape. qualcomm up 4.25%. >>> up next, from generations x, y and z to the greatest generation, our next guest has investments for each of those age groups. tom lee is here in a fox business exclusive. he's going to help you make money no matter what your time horizon is. "the claman countdown" is coming right back. voya gives us confid. so we can spend a bit today, knowing we're prepared for tomorrow. wow, do you think you overdid it maybe? overdid what? well planned, well invested, well protected. voya. be confident to and through retirement. stay resthe new rx,the icon thatcrafted by lexus. lease the 2020 rx 350 for $419 a month for 36 months. experience amazing at your lexus dealer. you get the freedom of what a 7-d

qualcomm is higher as well. is higher off the back of housing data.se a couple like people's united. the big one that satisfied everyone in those two did not meet requirements got punished. talk toare going to some of the ceos there on the roster in davos. let's take a moment to talk about a nonlisted stock. the u.k. government is subsidizing some groups operated by the regional airline bly b -- flybe. is a story that is getting a lot of headlines in the u.k.. government -- the boris johnson government just won a really big majority in december and many of the seats were one in a place where the tories don't traditionally win seats. it is taking a different line on flybe. the british government is taking a positive line on flybe. it is controversial and driven by politics. this airline flies to the four corners of the u.k. and reaches places that are hard to reach by traditional road and rail. if you are going to go bite road and rail, it takes an awfully long time. there are a lot of politics and that is part of the story. a controversial story devel

taylor: those people in the room, executives from qualcomm and ebay and others.irector of cyberspace policy at the council on foreign relations, and in washington, bloomberg's peggy collins. peggy, let me start with you. what did we learn from the signing today? peggy: with the signing, what we have learned is that the u.s. and china have taken the first steps to negotiate some big imports into the u.s. in terms tochina promising to commit buying of more u.s. products, as well as some concessions in terms of enforcement around intellectual property protection and patents, as you mentioned, so, essentially, china is saying we are committing to about $200 billion in additional product purchases from the u.s. in exchange for those reductions of tariffs, which we saw announced in december, where the u.s. did not go through with the december tariffs that were threatened, as well as it did a reduction of some tariffs that were put on in september, but some of the stickiest issues are still out there and awaiting a phase two deal that the administration says they are go

people in the room with the likes of executives from micron, qualcomm, ebay, and others. director ofhe digital and cyberspace policy on the council of foreign relations in new york. in washington, eddie collins. >> we have learned that the u.s. and china have taken the first step to negotiate some big imports into the u.s. in terms of china promising to commit to buying of more u.s. products, as well as some concessions in terms of enforcement around intellectual property protection and patents, as you mentioned, so, essentially, china is saying we are committing to about $200 billion in additional product purchases from the u.s. in exchange for those reductions of tariffs, which we saw announced in december, where the u.s. did not go through with the december tariffs that were threatened, as well as it did a reduction of some tariffs that were put on in september, but some of the stickiest issues are still out there and awaiting a phase two deal that the administration says they are going to start on soon but could take a long time to finalize. taylor: adam, i want to sh

qualcomm also up 3.5%. the european close is coming right up.rg. ♪ guy: weak retail sales in the 75% nextes the market fridays bmi looking critical. european stocks hit a record high as european trade commissioner phil hogan had a conversation with vonnie. volatility is at a record low. pushing lower.is selloff on equity markets. live from london, i am guy johnson with vonnie quinn in new york. this is bloomberg markets. ♪ vonnie: up about .2% for the s&p 500. plenty of stocks are doing well, including qualcomm. the best performer

. >> huawei is if you look qualcomm and apple and put them together and put them under the control of the chinese party, that is what you would get. maybe throw the ns tax in there as well. they are a chinese company stealing technology from us and the free world. i think esper is off his rocket. but the real culprit is steven mnuchin. it's treasury objecting to any efforts to get tougher on china, north korea and iran. they are the ones that seemed to veto this new rule that would have changed the amount of foreign technology pane american company could sell to huawei. lou: this defense secretary, say what you will about mnuchin, going on with his specious nonsense about orders of consequence that must be contemplated by effective leaders. what pompous bull. why is it being done out in public? doesn't somebody want to grab this guy by the ear and say wake up? >> if somebody has to do that, i volunteer you. up to now i have only heard good things about secretary i esper t now i have to seriously rye assess. his statement makes no sense. this regulation would have put a limit on how mu

mondor and since then things turned around and they b established a partnership with verizon and qualcommtechnology and that is a big deal. they started showing some real progress getting their costs under control in 2018. they do a meaningful capital race which brought them breathing room tor the balance sheet. fallcon passed on to mondor. interesting. and by the summer of 2018 people were talking about this as a legitimate way to speculate on 5g it is no qualcomm. and that is when the stock began working back from less than $2 in july to more than $4 by the end of the year. fast forward to 2019 and they spent the first ten months of the year marking time as it digested the huge move but from mid-november to january the darn thing caught fire climbing to $9.75 last tuesday it was an incredible move. at least until the markets started rolling over and the stock experienced a sharp correction one had a is taking it down to $6 and change as of today. so $6 and change is this a buying opportunity for red hot 5g play or a sign they are risky than the bulls thought. remember i'm exempting the

some of those ceos that were qualcomm,, citibank, plus leaders for the republican. this is a big win politically and economically for the president. david: i agree. it is a huge win. we are not in this continuous trademark, will it get worse, will it get better. we will have stability through the election. then after the election the president will renegotiate with china for the real deal we need. we are a little worried there is a potential upside there leaving on the table. that is not removing the tariffs. we wish they would go ahead and do that because then in addition to the .5% gdp growth we think we could get another .5% to 1%. kevin: the sources i've talked to at the treasury department and the business community on this issue say maybe that is in fact the enforcement mechanism as part of this for the administration to ensure china follows through on its commitments. that would be great to see. in a couple of months if we see china starting purchases and they will lift the rest of these tariffs, i disagree -- i just got email from one of our members that say

qualcomm fits all those. >> qualcomm, they own 5g i think it goes lie h. iemg, trade resolution, you can own it for a while. >> mchi, the china currency trade, positive. >> good stuff. thanks, all. thanks for watching. "the exchange" starts now. >> thank you happy monday, everybody. welcome to "the exchange." i'm brian sullivan here come earnings the future of this rally may hang in the balance as corporate america opens up its books what to expect and if it's time to get defensive plus no money, no problem. the amount of money losing public companies the past year at the highest level since the late 1990s more on this incredible story ahead. and friday's jobs number looked pretty good on the surface but if you dig down a bit deeper you may find some red flags. we'll have that, all that and more on "the

the last decade i am not ready just yet to step back in. >> serat, for you, david in new jersey, qualcommld i buy it >> i think so. they bought back a ton of shares this would be a good one. >> doc, for you, occidental. >> it's up 20% in a month, judge. that's six times what the dow is up in the last month i was lightening up. i'm almost completely out of it. i will reload if it makes a significant correction. >> ryan has a question for kari. is it a buy? good question. >> salesforce has had such a sharp move that maybe it needs to pause for a minute. it underperformed for most of 2019, but it's still the dominant player in a growing market and some of its competitors, quasi competitors are really giving up on it, like microsoft. so we like it, but perhaps wait before you really plunge. >> lastly, from don on twitter, target what do you do with this name? another one that surged, to say the least. >> justifiably, based on fundamentals i still own it i love for it to come in a little more. i have faith in brian cornell. i wouldn't do more except buy more. >> thanks for the answers. better

qualcomm is interesting because semis have really given up that leadership spot.hey're just retrenching from a very high level bhap it's unclear if that's a reaction to a sector that overshot or we have to start deferring this upturn in terms of offensive boarders and activity that got priced in. >> last question, today is an example, but we have seen a pattern of more interday volatility you cup that will with what we know about how much the s&p is relying on five big names, how much does the market feel top heavy? >> it acts somewhat sop heavy but on some days that can be an offsetting situation and they get trapped. the stocks versus bond push/pull is causing people who essentially trade the indexes or modulate exposure based on what the vix is at, what the yields are at, that's kind of kicking that activity into motion. that's why on a friday i think you're having these little mini waves run through the market, where it's like, okay, we're having to fully cult exposure faster than we thought or we can handle more based on what the volatility levels are up to.

steve weiss has been talking about qualcomm another dividend play. i think you own it jepy. >> thank you. >> it is down to 80, the target is at 87, i am back in. >> i want to talk with everybody about what they want to buy. >> qualcomm, disney. northrup grumman let me see their report. >> so -- oh, we are not going. >> disney is 136, trading lousy. >> okay. >> not much of a price difference than where it was four and a half years ago, summer of 2015 >> well, what looks good to you? if it is at 136 now? >> i think now, but i think the coronavirus gives it one more down indicate. >> a few percent more? >> one or two percent. it is not a bad place to buy right now. i don't think you load the boat here i mean the disney shanghai news is the reason it is off. they are in the cross hairs of the coronavirus. the thing will pass, like sars did, just like ebola did when you have disney plus, that is the driver for this stock i have got -- >> weiss wants me in this so badly. >> what number will you get in at. >> 182 hold my feet to the fire. >> it is on the re

thank you, sanjay, very much steve mellenkopf qualcomm they had a merger. i said they should let that go by i called up president xi they rejected it, remember they accept ed it. by that time you were off to another deal you didn't even want it. nobody else could have done that, right? but you could have had it. jim morrison of jeep what a great brand jeep is what a job they've done. that say great brand and congratulations. larry nichols, devon energy. larry, thank you, larry. great job. these are great people jason oxman iti. great job you're doing scott shenkle, ebay. i sign things the next night, i see them on ebay, they're sold for a lot of money sir, could i have you -- will you sign my sneaker? yes. then two nights later i see it on ebay selling for $5,000 i say, what kind of people are these, lindsay sometimes it's the senators and the congressmen that do it gary shapiro, cta. great job, gary. greg smith of boeing also and greg, get that going work together. get it going you know, boeing makes a tremendous portion of our gdp. i had no idea it was su

. >> they get cited as the biggest supplier but they are also huawei, qualcomm, nvidia's biggest supplier is not just because they are the cheapest game in town. they have some of the best factories in the world. taylor: if there biggest -- their biggest suppliers are both apple and huawei, if one wanted to choke off huawei, to do so with taiwan semiconductors? ian: this is the biggest question i think. if you are the u.s. government and determined that huawei needs to be shut down, a a lot of the chips that huawei gets are made in those factories in taiwan. if you wanted to really shut down huawei as an entity, a real chokepoint. >> a real practice that has chinese business links and interests to step up lobbying in 2020? ian: we saw in our story, people are spending more. huawei are spending more. at the very least, you have to have more people on the ground, speaking to more people in the corridors of power in washington. not only are we seeing more action being taken, but an increase in noise around who is thinking what and who will take action. taylor: what do we know about peter cle

microchip does have some 5g exposure but there are other companies such as analog devices, qualcomm,have 5g exposure as well. romaine: this stock is already up about 15-plus percent over the past year or so. there is a lot of anticipation here for i guess what microchips could generate in terms of how much ofprofit this run-up is also because of optimism with regards to u.s.-china trade? x if we look at the multiple expansion of the last quarter or , it a lot of it has to do with the optimism or some anticipation of a u.s.-china trade deal. next week.e signed billion --ve $300 25% on $300- billion of goods outstanding. phase 2ibility of continues to string along investors on earnings upgrades not only for microchips. joe: our thanks. a quick look at the latest business flash headlines. tesla ceo elon musk has something to celebrate. tesla has kicked off production in china. it is a major step in musk's push for electric vehicle domination. he was outside the plant in shanghai. the company handed over the first china made model 3 sedan. the battle to be the official provider of the en

. >> huawei is if you look qualcomm and apple and put them together and put them under the control ofnese party, that is what you would get. maybe throw the ns tax in there as well. they are a chinese company stealing technology from us and the free world. i think esper is off his rocket. but the real culprit is steven mnuchin. it's treasury objecting to any efforts to get tougher on china, north korea and iran. they are the ones that seemed to veto this new rule that would have changed the amount of foreign technology pane american company could sell to huawei. lou: this defense secretary, say what you will about mnuchin, going on with his specious nonsense about orders of consequence that must be contemplated by effective leaders. what pompous bull. why is it being done out in public? doesn't somebody want to grab this guy by the ear and say wake up? >> if somebody has to do that, i volunteer you. up to now i have only heard good things about secretary i esper t now i have to seriously rye assess. his statement makes no sense. this regulation would have put a limit on how much ameri

we think we can make a lot more money on qualcomm in the smartphone nature then we can buying apple atces. alix: part of the conversation could be the iphone 11 did so well for demand, and maybe you are not going to see the super cycle or even cycle with 5g iphones apple released this fall. where you come down on that? 5g, it is key with becoming more and more ubiquitous. it was only available in some select markets. now we are going national. now we are going global. they have more selection. apple has about 1.5 billion users in its install base. that is a terrific number to have. by the time september rolls beund, it is almost going to flip the switch and 100 flowers bloom. it is going to be a major catalyst for the 5g market. cole: but 5g will just be evolutionary. it will be the next step, like 3g to 4g. touches, if you are running a factory plant in iowa, your machines talking to machines. . that is where it is revolutionary. the best part will to be in a consumer product. it will be in a business application, and the money made off of that is different than the consumer cycles we

romaine: we've been talking about apple being an all-time high, qualcomm, a lot of the chip makers.ot of this seems to be predicated on the rollout of 5g. are you seeking opportunities there with maybe the cloud companies? of the things that is unleashing this ability to do personalized medicine is the fact that we have the cloud. we have cloud computing and massive amounts of data. that is an enabler. is changingow tech the landscape in our industries. there is a time to be done. not just in the buildout of 5g, but i would think any services that require or that utilize broadband capability. what we are seeing over the top is incredible. it is going to continue to change the way people consume media. i think we are spoiled here. we've seen other parts of the world that aren't quite at 5g. when you think about global rollout and global consumption, we get it here in new york, in the united states, and we stream on any device. i just think there's a huge tailwind behind that as well. joe: investors and corporate's want to know what to sell to the burgeoning population of people who a

i would argue a company like a qualcomm, not that that's a perfect company. that's a company that came up with the 5g chip. they are having to duke it out just to stay alive. in three continental legal battles with other american companies. at the same time you have china rolling out one belt, one road. working seamlessly to integrate chips and technology into an entirely new ecosystem. i think that's a model we should look more carefully at then this laws a fair, zero-sum game. we've seen the number of corporate scandals that that zero-sum balance sheet driven financial lies thinking has led to. think us to a good place. >> so if we think about the different systems for dealing with challenges of big companies. the legacy in the u.s. is different from europe. it's more about protecting competition. in the u.s., it's been about protecting the consumer. seems like in this digital era, that kind of distinction doesn't work the same way. when we talk about facebook or google, very often, companies want to say, look at the consumer. they're paying nothing. so thi

qualcomm, they've got new chips that will turn your car into a robot. i absolutely don't understand this. ashley: so we're talking about autonomous cars the ones that can drive by themselves but let's not get ahead of ourselves it's all part of a package of new chips that qualcomm will be putting out and probably in stores in 2023, snapdragon ride is the name of the program. it's a series of chips and technologies basically that can take all of the data that comes in from the sensors placed around the car and then put them together so that that car can operate by itself. intel is big in this of course, nvidia, they are all racing to get a chunk of this business, and you know qualcomm says its already got $6.5 billion worth of orders in the pipeline from a variety of car-makers so they are really trying to get out ahead and they tried to buy a semiconductor business in this field last year, that fell through, because of regulatory problems but they are spending big to get ahead. stuart: i guess it's coming. i don't know when it's going to arrive big time

. >> i'm going to give you two, qualcomm, i think it will continue to do well. i have been buying it, but ual reports on tuesday should be a great quarter. >> it's starting to come back, watch it we'll talk. >> okay. >> good stuff. have a great weekend "the exchange" starts right now. >>> thank you, scott good weekend to you as well. and happy more records friday. welcome to "the exchange," i'm brian sullivan here's what's ahead. alphabet is joining the four comma club but is this kind of top heavy market healthy for the markets? plus, workers needed a lot of them. one area that's spending big to train employees in a tight labor market, so where can we find more than 4 million workers? and facebook, fitbit and a fight, kind of, between nfl owners all that's ahead but we begin with today's markets and once again, seema mody. it will be seema record modi because every time you're on we're hitting the new reports. >> i'll take it. the stocks are going to historic highs and we typically see a slightly more defensive tone as we head into the long weekend so watch out

now i would argue that if a company like qualcomm for example, now that they are perfect. they have done plenty of things that i wouldn't want. but that is a company that came up with five g.. this is something that makes the smart phone smart. they are in the current environment having to duke it out to stay alive in three continental legal battles with other american companies at the same time that you have china for example rolling out one belt, one road, working seamlessly to institute the chipchipset technology into an entirely new ecosystem. that is a model that we should be looking at them to keep the margins as tight as you can. we see the number of corporate scandals the balance sheet and driven financial is thinking has led to. >> host: if we think about the different systems for dealing with challenges in big companies, the legacy in the u.s. is very different from europe. in europe it is more about protecting the competition ended in the u.s. it's more about protecting the consumer that kind of distinction doesn't work the same way it used to. they want is a lo

car chips from qualcomm that will enable more infotainment and driver azessist technology i talked tond of amazon, speaking of more technology people will be using today, about how alexa is coming to the car and also how it's being used more broadly to inform amazon what to work on next take a listen. >> what you do see is where people are interested and where they might be putting echoes and alexas for example, we see a lot of usage in the kitchen that leads you down a path where you start experimenting things in the kitchen and you do apis and partnerships with people like discovery, food network kitchen to see will customers resonate with things like recipes. half of alexa customers last year interacted with a recipe. you wouldn't have thought about that if you didn't experiment across these different areas >> and of course people are using alexa to order product from amazon, making money that way. i asked him kwhr they going to start using that data from all these searches to inform more targeted advertising he said that's not on the horizon yet. they're trying to improve product.

we are talking to microsoft, dell, qualcomm, and others who are brilliant technology people constructing software packages which may go soup to nuts for the whole infrastructure of 5g and we are going to try to sell that to the united kingdom and work with them as you move forward. >> martha: very interesting. before he let you go, and want to ask you about your friend john bolton. you've known him for many, many years. we surprised that that this manuscript is leaking out, story surfacing in "the new york times" at this pivotal moment in this process? >> my question, i have not read it and seen it so i'm not sure what's in it. john is an old friend of mine, a very smart guy. he served until he didn't serve. there are interviews he gave after the ukraine phone call last summer that were entirely consistent with what the president has been saying and anybody who reads a transcript will see that. there was never any quid pro quo. they were never any demands. there was never any pressure on president zelensky. john was in accord with that. he never complained. i never heard him complain bit

qualcomm higher by the better part of 2%, as is apple. a few things working in apple's favor today.ouble-digit iphone growth in china, and holiday growth was likely very positive for the company. you have tesla falling from its record high, bears saying it might be time to take some profits after what has been an incredible surge. far in 2020.up so it is a higher value than ford and general motors combined. we are giving back some of those gains today. finally, i want to take a quick check on oil. with those easing middle east tensions driving the rally, it is taking crude lower by the better part of 1% today, bringing a three-day declined to nearly 7%. that is the worst three-day period for wti -- [no audio] vonnie: -- assets. remember, the function gtv allows you to browse all of the recent charts featured on bloomberg tv. you can save your favorites for future reference. this is bloomberg. ♪ vonnie: live from new york, i'm vonnie quinn. guy: from london, i'm guy johnson. this is the european close on "bloomberg markets." let's hand things over to ritika gupta. ritika: irania

. >> yes i had a position in semis, smash, sky works, qualcomm recently they are looking for a hockey stick return to semiconductor growth, particularly memory in the second half of 2020. i'm so bulled up on the technological advances we're going to see with 5g that you've got to be there. now is the time. >> that's true but you can also have the view i agree with everything you just said but the stocks have had such a run, smh has had such a good run. >> i think it's fundamentals also. >> both. >> right. >> is it vulnerable. >> in a sense never where stocks have come from, otherwise nobody would own apple. >> i get it. if you do believe a correction is imminent or there's going to be a burst in volatility because of what's happening in the middle east, that those are ground zero, so to speak, for areas that money would be pulled off the table quicker that others. >> absolutely. i never equate volatility with risk, i equate with opportunity to sell or buy volatility is not risk but you manage different book than i do. i don't worry when stocks go down. >> also semis. i've said it befo

. >> qualcomm. reports next week.wn the stock. >> lindsey >> looking at costco defensive play in uncertain market reporting january same store sales next week and looking for momentum to continue there. >> they have the best white fish salad anywhere. >> and meatballs. >> brenda? >> montelez. trading at a multiple and a discount to the group. >> jim >> sell roku this thing is headed lower. >> all right josh, last word to you. >> i am staying long amazon. nur new to the trillion-dollar club. >> you or the company? >> just staying long as a small shareholder. >> all right, folks. thank you. that does it for "the halftime report." "the exchange" begins right now. >>> thank you very much, tyler welcome to "the exchange." i'm dom chu. investors grow more cautious about the potential economic impact of that fast-spreading coronavirus and fears are building about what will happen when china opens for business again next week after being closed for the lunar new year holiday. the dow wiping out the january gains, the first ja

can apple or the phone maker, who knows who makes these things, huawei, qualcomm, intel, samsung, canation? >> no. the phone companies don't get at this information. our wearable is worn on the body and communicates directly with the phone with the bluetooth signal every five minutes, a glucose value's recorded. so a patient gets 288 readings a day to manage their diabetes better. but that data's theirs, and we treat it as theirs. liz: here's what worries me. we're hearing -- and the journal withism covered a lot of this -- amazon's working with a seattle hospital. you've got microsoft working with providence hospital. ibm if signed a deal with brigham and women's in boston. they claim that they've stripped out the names. google working with the mayo clinic. but some of this information could be identifiable, could it not? and so how do you insure that my kids' diabetes information or mine, you know, you don't want employers being able to use it or prospective employers who will then use it against you and say we don't want to pay for that. >> no. we have a very, very strong data secu

i saw the ceo of qualcomm, al kelly, and the ceo of mastercard and ceo of jpmorgan asset management one of the hallmarks of this deal is the opening of the financial services sector. this is something china has been pledging for at least three years. we heard many of the executives say even though these lofty promises are made very publicly, on the ground it's been really difficult for them to get licenses for them to actually see china affect some of these promises they're making. many in the audience are cheerful observers i turned to try to get a couple comments but much to my chagrin they wouldn't offer any. they're here and cautiously optimistic but they say in many cases they have seen this before. >> if anyone gets comments, i imagine it will be you certainly financials is one of the worst-performing sectors because we have earnings from bank of america, goldman sachs weighing on that sector now. in general as earning season gets under way, we get the deal signed and more details, we will hear more about what this trade deal can mean for companies this year is that going to becom

. >> i did say it, but it's also value in qualcomm. i like that stock.kes intel if the semi space comes up and intel is where it should be, this stock should run faster than others. . >> i just want everyone to have fun. >> we are. >> i like that conversation. >> ask halftime is up next your questions on wells fargo, sysco, and visa and more in two minutes. whatever happens out there today, remember, you have the hilton app. will the hilton app help us pick the starters? great question, no. but it can help you pick your room from the floor plan. can the hilton app help us score? you know, it's not that kind of thing, but you can score free wi-fi. can it help us win? hey, hey! we're all winners with the hilton price match guarantee, alright? man, you guys are adorable! alright, let's go lose this soccer game, come on! book with the hilton app. if you find a lower rate, we match it and give you 25% off that stay. expect better. expect hilton. doprevagen is the number oneild mempharmacist-recommendeding? memory support brand. you can find it in the vitamin

that they got a flood of new orders and they were from apple the taiwan semi seeing that, broadcom, qualcommening. i mentioned these companies because they're part of the big 5g and the supply side of the equation with all this new demand, supply seems to vanish because there wasn't enough semiconductor capital equipment spent last year that explains the move let's use history. consider the last peak and that came in november of 2018 particularly when micron, which is the big daddy, announced that the iphone cycle was breaking down and demand had evaporated smart investors have been betting against micron for the previous six months. you can see the peak since the stock was selling at 62. that was the top the last time around okay ebring that up because the semiconductor cycles continue to play out similarly the moves are often symmetrical, as we say on off the charts. and that worries me because micron is now 59 and change. it's been eightmonths since it cycled bottom. that's long in the tooth but i think this will be an unusually strong semiconductor cycle because we have not one but two p

. >> i'm going to give you two, qualcomm, i think it will continue to do well.ing it, but ual reports on tuesday should be a great quarter. >> it's starting to come back, watch it we'll talk. >> okay. >> good stuff. have a great weekend "the exchange" starts right now. >>> thank you, scott good weekend to you as well. and happy more records friday. welcome to "the exchange," i'm brian sullivan here's what's ahead. alphabet is joining the four comma club but is this kind of top heavy market healthy for the markets? plus, workers needed a lot of them. one area that's spending big to train employees in a tight labor market, so where can we find more than 4 million workers? and facebook, fitbit and a fight, kind of, between nfl owners all that's

speaking of wireless, shares of qualcomm up over a percent on roughly 50,000 shares of premarket volumelpful and upgraded that stock from a buy to a prior neutral. it goes to $108 per share. it was $89 before. they cited the ramp up to 5-g technology which could lead to higher average selling prices and higher royalty revenues for all of it's intellectual property and 5-g technology and we're watching qualcomm as well. the online market share and option sites gets downgraded the target price goes down to $32 per share. it was at a prior 45 they cited head winds to the core marketplace business to a roll out of internet sales taxes and online and multichannel retail as well as the used goods portals like posh mark so those shares are on the move as well. i'll send things back over to you. >> thank you for that. we'll continue to talk about tech right now joining us is the grounded investment advisers partner. we talked about it earlier $5 trillion is the market cap combined with the top five tech companies in america today what do you make of that and are you in the david tepper jump on