what: let's talk about qualcomm is. what does qualcomm actually do?: we consider ourselves the number one wireless innovator in the world. what that really means is that somebody has to go through and figure out how these cell phone are going to work. you have to figure out how to more the entire industry importantly, we invent the fundamental technologies underneath those cellular networks, then we figure out a way that everyone can get access to it. we have done that for 3g, 4g, and now we are in the process of doing that for 5g. it is really an interesting company in the sense that we have the ability to touch many industries. first, the cell phone industry. but now, almost every industry will be impacted. david: you have how many employees? steve: about 37,000. david: you are headquartered in san diego steve: we have about 14,000 in san diego. some inthe bay area, india and other places. very highly concentrated in engineering. have kind of large development centers that we use. david: it is hard to believe that i lived most of my life without a c

joining me now, qualcomm's president christian know amono.about china, but can you just give us a quick overview of qualcomm? your license designs, obviously, have a huge share of the cell phone market, but they also show up in places that might surprise viewers. >> yes. oh, happy to be here. qualcomm is the world's leading wireless telecommunications innovator company. we are, you know, in every single smart phone to our technology starting with when we invented 3g, 4g, now 5g, one of the key creators of the technology, but we also do processers for the phones. we're in a majority of the phones. but as you said, we've been expanding our business, you can find us in your car, in your wi-fi router, and as mobile technology grows beyond phones, we have been growing with it. jack: with 5g there's been a lot of talk about it. i wonder if you can just explain how viewers will see a difference in their lives and how quickly. when will that happen in the u.s.? >> it's happening. it is being in all develop economies, japan, korea, europe, in china, c

a lot of people left this one for dead qualcomm is currently at 78. it has 3 and change yield.nt at 82. the stock could burst through that ceiling and break out of this triangle pattern he sees which would be typical he thinks it's up, up and away at higher levels this did trade at higher levels at one point lang is betting on this. his reasoning? aside from the fundamentals of the wireless technology play lang is feeling confident about the chart. trends are positive. should we look at some volume? okay see a break out on bigger volume there. relative strength index is another momentum index very steep upward slope. still nowhere being overbought the cloud recently turned green, it's now expanding, another positive i like that. while qualcomm is pulling back again today, but not that much, since the bottom in march every dip in this thing hasbeen a fantastic buying opportunity again, it's 5g if the stock can break out above 82, lang believes it can make a run for its old highs in the mid 90s. i am with him on this. and when he did the work on it, i was thinking, wow, how many

dave: i am looking at qualcomm.s been exactly a year since president trump signed an order against huawei. it put the company on an entity list. that meant that anybody supplying technology to the network equipment maker had to go get licenses. here we are today, and the commerce department is taking the next step. decidede gone ahead and that any software and technology that huawei would use in making its ships is going to be restricted as well. so now you have this report in response out of "the global times," a chinese communist party controlled newspaper, saying there is going to be retaliation that companies like apple and cisco systems and boeing are going to have potentially curbs put on their and qualcommhina, will not list, because of the amount of business it doesn't china. something like have its revenue comes from greater china, which would include hong kong. that puts them in a similar position to other chipmakers because of their dependence on the chinese markets. the idea that the chinese government w

qualcomm, it would maybe just impact qualcomm itself, and china could get things from taiwan, but ity impact qualcomm but not the other companies in the u.s. this has not been active in china anymore. it doesn't really hurt much cisco. sensitive -- is interesting, because apple derives about 15% to 20% of revenue from china, so it might do some harm to apple, but the problem is that apple, their whole supply chain is in china. so many different components, assembly, modules in china, so any retaliation on china would their economy more, so i really doubt that china would make a powerful, effective attack on the technology companies in the u.s. somenda: sebastian, companies do not need a license to sell huawei. how much support could that provide? at least -- if you look at huawei, the business is separated into two parts. the smart phones, and the telecom business. suppliers, most of them can supply on the consumer end. business,rastructure they still have limited capability to support that, which means that yes, some of these guys may take a benefit, but that would not help huawei t

companies including qualcomm cisco apple and boeing boeing a huge target right now in china could suspend purchase a boeing plane the only another major blow to r.t. struggling company so all 4 names are down massively this morning because of that and really boeing can't take another hit as well after all the issues that they've had not only with the pandemic but obviously the 737 max crisis co-host kristie i thank you for breaking that all down for us. india. global markets are all down on the week as oil search 3 percent its highest level in more than a month still market sentiment is low after the latest flare up between the u.s. and china over the trump administration's move to block semiconductor shipments to while away technologies all right let's start in russia where the mo x. is in the red for the week a trend you will see in every market coronavirus cases are still rising in the ruble and russian treasury bonds hit record highs on friday as oil prices surged but it still wasn't enough to push markets into the green in russia for the week moving over to asian markets all 3 in the

qualcomm, a san diego company of 10,000 strong within the city, and in talking with the folks at qualcomm, again being leaders on telecommuting and safety precautions that's going to be the future for a lot of us including the city of san diego, employees being able to work remotely and that will not necessarily be a negative thing to do so safely. i think this is part of the phases of how are we reopening smart, how are we using technology how when we open do we have all of those precautions in terms of building entrances and staggered work times to keep people safe and promote that consumer confidence when you walk too a business in san diego, all of the steps are being taken. >> mayor, what are you doing about tourism? i think there are going to be a lot of people from california possibly from surrounding states who want to come to san diego as usual, especially if beaches are open and it's starting to be that season, when it comes to contact tracing, when it comes to testing and protocols in the sorts of businesses and locations that tourists frequent, what are you doing >> it's all o

16 percent in april alone the dow saw the dow actually had its worst week since late march apple qualcomm and boeing all saw a decline in prices this week and let's finish it out in canada the t.s.a. finished in the red despite seeing some gains in the energy sector which climbed 1.4 percent while u.s. crude prices jumped 4.2 percent a barrel as data continues to come in showing the economic impact of the pandemic we're going to keep an eye on the volatility within world markets which is what we are seeing and that is your global market walk. and time now for a quick break but hang here because when we return as the cove in 1000 pandemic continues to rage on investors are seeking a hedge and it's a conflict between old reliable and the new school we breakdown the fight between gold and big oil for safe haven supremacy as we go to break here the numbers at the close. we go to work soon straight home for. the dropping of the f.b.i. case against michael flynn tree deals with so many of us have long believed russia gate was a crude and slot beach invention undermine the outcome of the preside

arch apple qualcomm and boeing all saw declining prices this week and let's finish it out in canada the t.s.a. finished in the red despite seeing some gains in the energy sector which climbed 1.4 percent while u.s. crude prices jumped 4.2 percent a barrel as data continues to come in showing the economic impact of the pandemic we're going to keep an eye on the volatility within world markets which is what we are seeing and that is your global market walk. time now for a quick break here because when we return as the cove in 1000 pandemic continues to rage on investors are seeking a hedge and it's a conflict between old reliable and the new school we breakdown the fight between gold and big oil for safe haven supremacy as we go to break here the numbers at the close. seem wrong. just. to see. this day after. and in detroit because the trail. went something like themselves worlds apart we choose to look for common ground. the world is driven by a dream shaped by one person of those. who dares thinks. we dare to ask. that child care h a i r is the ticker symbol for hair it's a closed and f

instance and we also saw on friday that the stock prices also because as semiconductor companies like qualcomm for example or intel they actually got to quite heavily if the united states will follow through on this threat remains to be seen but it clearly wouldn't be helpful but overall it was really fascinating to see once again here on friday so we had this news was a possible trade war or escalation of trade tensions between the u.s. and china we had those certain pretty terrible and historical slump in retail sales and what did the markets do well which are a bit to the upside but for the week down 2 percent. no one really knows anymore all right yes quarter there for us in new york thank you very much ivan as we can all right over to europe now where the contents largest economy is now formally in recession the german economy shrinking by 2.2 percent in the 1st quarter of this year that's its biggest quarterly fall since the 2009 financial crisis virus measures have shuttered shops and restaurants wiped out tourism and provide a setback for manufacturing and the numbers will only get wor

some of the stocks that are down like qualcomm, first off they get credit for intellectual property forry smart phone that ships regardless of if it's going into china there's only a few, handful of qualcomm chips going into huwei gear some are odd >> odd can be good if you're looking for buying opportunities. thanks for joining us. tyler. >>> still ahead, backlash as parts of the country start to reopen wisconsin disregarding a large measure social distancing requirements and some states seeing a surge in new cases of coronavirus. we'll discuss that one aurora cannabis soaring 60% today. we'll talk to the company ceo about the growing problems in the pot industry remember you can always, always watch and listen to our live onto go on the app, cnbc app we'll be right back with our special breaking news coverage of coronavirus and the markets, after this (vo) our communities need help like never before and wells fargo employees are assisting millions of customers across america through fee waivers and payment deferrals, helping people stay in their homes through mortgage payment relief e

to escalate right now it got a little rich for me >> you trimmed alibaba, lululemon, micron and qualcomm >> i did i was adding at lower levels and got to dial them back. the market is a defined trade range. i've got to take some profits and have some cash so when it happens again i'm in a position to buy i'm not looking for major decline. i'm not looking to retest the lows one of the catalyst will reopen because the news will be very active in talking about more cases, et cetera >> let's bring in another voice to this conversation kate banks is bank of america's head of investment solutions he joins us on the phone i hope you're well, healthy and safe >> thank you i am well and i hope the same for you and your family. >> appreciate that very much how do you see the market here been a while since we have spoken we had this incredible move. you have the buffet commentary over the weekend how about yourself >> markets hits low, we had this massive stimulus come in in the form of monetary and fiscal and a lot of the investors minds that truncated and reduced the risk and allowedfor what we c

qualcomm still does a lot of business there, over 50% of their revenue comes from china.nd then amd advanced micro devices get about quarter of their sales as well. we have seen this play book before because we had the trump administration squeezing zte, which is the other big 5g network telecom equipment maker. they were brought to their knees without access to high technology, namely chips coming from the u.s., and that was reversed after chinese president xi jinping personally asked president trump to release and reverse this policy. but it will be interesting to see if we see this happen once again. we know this is a pressure point. by the way, charles, for china, since huawei is one of their most important technology companies, 100,000 largest equipment maker when it comes to 5g maker, second largest smart phone shipper in the world. charles: susan, thank you very much. joining me now on this and what possibly comes next is someone who has been very hard on china but someone who knows china better than most, hudson institute senior fellow michael pillsbury. great to

with qualcomm a lot of the money calls him back so that the law. is even saying that the it's impossible to fire it's impossible that this is a skillful minimal and already only pay for this iced steak i am not the best mom but i'll have a look at target months. doesn't the mile long hold out on this in mind it is this goes in the long haul 10 minute about a month on both a little bit on the exam it's. been homeless for a while these are all so please click on the. funny come up is a pita because it also say forget that other link on the hi nancy on the same is i normally don't mock them or even though i'm not giving up by them. knowing their prices in the us everything to pick up i have to give more money goes home took the more that could be automated cons and then. put the board in to get that he took the picking up a week of killing the people here like the christening that person to go civil. and others. loss of a doubt it was all because you say more about it not being more about this kid will solve it all if i just was a boss and the problem

to invest in company like erickson and nokia, think about american tower and chip companies like qualcomm could be a share gainer. we've got a q&a in the magazine this week. jack: of course, tensions with china could hamper these efforts, but carlton, i want to go to you briefly. all of this could be partially solved by reopening the economy, but that is not an easy thing to do. >> no, it's not. and, i mean, summer entertainment this year is going to look very different. broadway is closed through september. baseball might come back in july, but what's it going to look like. when you look at movie theaters, that summer blockbuster season, a lot of movies are going direct to streaming. disney has said that it wants to release mulan, it's holding to that july 24th date, but what are theaters going to look like? is it going to be socially-distanced seating, is it going to be digital ordering beforehand for food? we don't really know what's going to be at play there. jack: and we have an interesting story in barron's, andrew berry takes a deep dive into john malone's empire. it's a very compl

haidi: that was the qualcomm ceo speaking with us. up, the outlook of singapore bank, just ahead.epares for mounting bad debt in the face of the virus-led recession. jeffrey's equities had krishna guha joins us now. give us your reaction on the numbers today? the mounting bad debt, overall loss from non-realized portions was not expected. that is the hit for the ocbc bottom line. shery: we have seen the three banks posting the first profit loss since 2017. how are singapore banks position to come out of the pandemic? our balance sheets ok? liquidity? in liquidity, i don't much overall liquidity is of an issue. banks are increasing prices to have a capital buffer. the question is how prolonged this sentiment will be. what do these, banks have to take? i don't think anybody in the industry is estimating an asian financial crisis. that is not our base case. so yes, it is an unprecedented banks are positioned with strength, having a buffer of liquidity. krisna, how much it -- krishna: how much is the oil rout an issue? we have a higher exposure to the oil and gas sector. they have tak

tech companies like intel and qualcomm have really been at the forefront of calling for the government to ease restrictions on wall way because at the end of the day wall way is the largest producer of telecom equipment in the world so as these tech companies here in the u.s. that rely heavily on wall way that stand to lose the most now when looking at how this has impacted these companies over the last year the senior director of policy for asia at the information technology industry council argued that although the u.s. company government wants its companies to remain competitive with wall way their policies have been. certainly caused us companies to lose their seat at the table to walk away and there's on the list so not only are these companies losing money but they're also losing influence at a time when the world is making crucial decisions on 5 g. technology 5 technology was supposed to be the biggest thing yet we missed a lot of conferences this year due to the coronavirus of the pandemic but u.s. companies had been also applying for some of these these waivers and had been gr

we will be posting qualcomm. chinese tech stocks qq etf.ormed the q leading after some of the stocks were clear performers. emily: to talk more about the u.s. and china despite a tentative agreement, what seemed like a detente pre-pandemic has now been exploded. of course, we know that president trump has been recently blaming china for the coronavirus outbreak. now, the u.s. has put additional restrictions on chinese telecom giant huawei, basically banning any company that uses u.s. equipment from selling to huawei. i want to bring in the cofounder of the consulting firm rice manwell.tes and i want to take a look at the picture. how would you look at u.s.-chinese relations right now? anja: thanks for having me. phase one trade deal, even if it had not gone further, that was promising. now, since the covid pandemic, relations have fallen off a cliff. one you mentioned was perfect example of that. there was a recent pew poll that found that two thirds of americans have a negative view .f china, up nearly 20% the t

using that list in the middle of last year, a paper pointing to his source saying that apple and qualcomm could be targeted. that is kind of where we are. it goes much deeper than this. the administration has been move,ing things over this but they have to balance cash penalties aimed at beijing being limited to doing harm to china itself and certainly not to harm the interests of the united states, and of those in hong kong. washington has to have a narrow approach. other states could also do new their come if you would, -- that requires the secretary of state to certify whether hong kong still continues to warrant special treatment. it is employed, and it says it does not need that she does indeed warrant special render it it could the same as any other chinese territory. the wealthext, globalist management cio. don't miss it. this is bloomberg. ♪ nejra: this is "bloomberg surveillance." journey is now is haefele.irly -- mark i was looking at your letter from may, title "second wave, second wind. this is what markets are grappling with in terms of the coronavirus risks. talk about that

tech companies like intel and qualcomm have really been on the forefront for calling for the government to pull back on its restrictions because at the end of the day wall way is the largest producer of telecom equipment in the world so it's companies here in the u.s. that stand to lose the most now when looking at the impact that this has had the senior director of policy for age at the information technology industry council argued that although the u.s. government wants its companies to remain competitive with wall way their policies have inadvertently cause u.s. companies to lose their seat at the table to walk away and others on the entity list so not only of these companies lost money but they've also lost influence at a time when the need for 5 g. technology is crucial and when the rest of the world is moving forward right so this is always been a big question and it's been there's been a lot of back and forth so what is the reason for the change in this policy and why now rachel well the u.s. sees while wa is doing with 5 g. and they also see that despite months of mourning othe

qualcomm's ceo speaking with bloomberg's david rubenstein. today's u.s.port is forecast to show employers cut about 22 million jobs in the month of april alone. that would mean nearly a decade of job gains have been wiped out .n just one single month dani burger joins us now to discuss. we have spoken about this with many guests, but we cannot say enough just how historic, i suppose, these numbers are going to be. we already saw the devastating jobs numbers yesterday and the high-frequency data, the initial jobless claims. what sort of full or picture are we likely to get? dani: we are likely to get a confirmation of what you said, the devastation we have seen in the jobless claims. the data set is certainly more comprehensive, so when we look through the details, we will likely get a picture of just how long the economic and unemployment devastation is likely to last and what the post-coronavirus workforce is likely to look at -- look like. we will get a better idea of what the industry looks like. we already have a slight idea not just the industry but

they say that apple and qualcomm could be targeted here.han: you know how this works for a dictator. whenever there is economic pain, they start to hide behind nationalism. we heard this this morning. what does he mean when he says that the military should strengthen troop training and war preparations? rishaad: he's never going to say it is anything to do with the relationship with china. it could have more to do with what has been happening in taiwan. look at it from the prism of the taiwanese president, who was inaugurated last week. mike pompeo congratulated her. that is something that really fired the ire of beijing because they never recognized taiwan as an independent state. to taiwane a message rather than to washington. herehas made many pundits actually looking at it. tom: thank you so much. greatly appreciate it. i was amazed how it really didn't make the play this historic news for hong kong, but i thought it was really underplayed over the memorial day by the american press. jonathan: let's be clear, i think it is underplayed t

technology companies like intel and qualcomm have been at the forefront of pushing for the government to pull back on these restrictions because at the end of the day wall way is the largest producer of telecom equipment in the world so these companies here in the u.s. are the ones that stand to lose the most now when looking at the impact that all of this has had over the last year the senior director of policy for asia the information technology industry council argued that although the u.s. government wants its companies to remain competitive with wall way their policies have inadvertently caused u.s. companies to lose their seat at the table to wall way and others on the end so not only have they lost money but they've also lost influence at a crucial time when the world is making serious decisions about the future of technology and i feel rachel like the whole overarching theme in the news today is everybody is going back and forth on decisions including this one so what's the reason for the change in policy why now while the u.s. sees exactly what wall way is doing with technolo

live"on "leadership speaking to the qualcomm chief executive. 4:30 p.m. in new york, 9:30 p.m.. this is bloomberg. ♪ ♪ good morning, everyone, bloomberg "surveillance," from london and new york. an extraordinary moment you are seeing in the economic data and the markets. oil, i have lost so much money in oil i don't know where to begin. we begin with javier blas covering our energy. saudi arabia is raising prices to asia. are they raising prices to others? javier: there has been a big move by saudi aramco effectively raising the price of most of their crude to every customer in the world. they are moving to prop up the market. they usually offer deep discounts and you remember when the price war broke, what the saudi people offered was huge discounts in crude oil, sending the prices down. they are reducing the amounts of the discount and effectively increasing the price of crude, and some of those increases are spectacular. saudi crude in may in europe was sold at about $10 a barrel and for june the discount has been reduced to about four dollars a barrel, so that is an indicat

companies such as apple and qualcomm could be targeted. let's look at the other angle. australia.ina now defending that decision recently to place more tariffs on barley? selina: effective may 19, china is putting duties and an anti-subsidy duty. the china industry of commerce saying it is being prudent and restrained, arguing it is based on evidence because australia get subsidizing. andralia has rejected that, thebackdrop ms. iis independent investigation into the origins of the virus and relations with china's ambassador, saying it could even lead to a consumer boycott of australian goods. sorts ofs the restrictions they put out are directly related to a health and safety issue. there has been back and forth but china's foreign ministry is not mentioning any deterioration of bilateral relations and say it is purely based on evidence. they say there are investigations going on. david: i want to talk about the pboc now. there has been discussion and you can tell there are some details about the potential revising of legislation governing the central bank. what do we know? selina:

one of the stories that is obvious is the china story, where you can see qualcomm down more than 6%.ompanies affected by the decision if president trump carries out on his threat. let's get to something a little more fun, and sign some of the economy as we are talking about are beginning to reopen. a test this weekend coming for sports. in germany, we have the bundesliga trying to start its games back up again. we will see a game on sunday. there will not be any spectators at we have a lot of precautions in place such as masks on the coaches and precautions with the players. to tell us more from berlin is our reporter. a lot of people not just in germany but around the world will be excited to see the bundesliga starting up again. it'll be strange to watch a stadium empty, won't it? be very strange. the leak clubs and broadcasters have said they have no choice but to restart because there is a lot of money at state -- at state in soccer, as we all know. -- a lot of money ats stake in soccer, as we all know. [no audio] guy: -- vonnie: talk to us about how many games are likely to be p

. >> how about from danny in los angeles, is qualcomm too expensive right now?qcom. >> yeah, no. i don't think so at all. you are looking at normalized earnings returning to this name in 2021, easily $6 a share $96. that's a 20% return fromhere worse case is shifted to the right in terms of the time frame. mid-20 mid-2021 to mid-2022. >> the garden state, dylan, can i get your thoughts on chubb >> thank you, dylan. we think insurance is a great way to play the financial space. chubb is the leading property casualty insurer great underwriting margins and room to engage with a higher quality client base so we like chubb. >> all right finally, from dan in north dakota, i'm new to investing individual stocks and would like to get into the markets now. is there a sector i should research now or better to wait until the market is more stable? liz, what do you think >> dan, i want your first experience with the stocks to be a good one and so run a drip campaign drip in little by little and as i said earlier in the show demand for health care and i.t. should stay health

the chinese go after our companies like qualcomm, cisco, apple and boeing. think it can happen? fear is right now maybe it already is happening. dean chang joins us, heritage foundation senior research fellow. dean, we live in a world where it is tit-for-tat, i get that but how damaging could this be if the chinese start warning companies like qualcomm, cisco, you know what, we might just rein things in. >> well it certainly wouldn't be the first time that the chinese have issued this kind of warning. when the u.s. has conducted arms sales to taiwan for example, the chinese warned companies such as boeing, old united technologies, et cetera, that hey, if you participate in this we'll come after you. obviously not just in terms of military sales but back when it was all one company, carrier air conditioners and otis elevators. so the chinese are very aware that they have a huge market, they're willing to use that as leverage. neil: are they, are they already kind of letting it be known though, whatever we agreed to on the trade deal, that's off now? maybe dow