bloomberg tech reporter selina wang joins us from new york. why the dramatic cut to the forecast? selina: -- this is clearly a seasonal business. they kept saying on the earnings call we had weaker demand than we expected, softer demand. selina: they had a new product, recently, the charge hr2. weaks another reason for demand. another interesting data point is the aipac region. it was very weak. had a revenue drop of almost 50%. they need to reevaluate their strategy and think about how to better localizer marketing and target the users. is at specific to the fitbit brand or something that span the entire wearable universe because there are a ton of compatible is out there from aree to xiaomi, and they all doing fairly different things, but it seems enthusiasm around this base in general has waned. cory: some of this -- selina: some of this news is specific to fitbit. 25% year over year. that being said, while it is growing, it is getting more crowded. , samsung, apple, garmin, and newer entrants coming in all the time. it is still unclear just how long it users are willing to upg

brad: joining us now, from bloomberg intelligence and bloomberg technology reporter selina wang.opro's stock tumbling. like a drone of that hit a power line. after thinking that it would scale to the skies. what is ailing gopro? jitendra: they are blaming production issues for not being able to meet targets. but this is really a bad execution story. there was no refresh, there was quite a lot of time. they finally fixed the ease of user issues people had. thatake that and marry with production issues. brad: getting into the drone business was supposed to provide a next act for gopro. when you look at this balance sheet and the way that wall street has reacted, are there any bright spots? selina: he was very coy about it. he did say in the fourth quarter it would be a small amount of revenue compared to the camera. the biggest thing they have going for them is their brand at this point. they have been in this business for 10 years, they have excellent features better , sensors, technology. the price point is similar. from a pure tax standpoint, dgi wins out. there are other startu

emily: that was selina wang and kevin carter.g up, elon musk unveils his latest project and it's not the self driving car or a rocket to mars. we will take a look into tesla 's first ever solar product next. there has never been a u.s. presidential election with his much big data analysis. what kind of impact is it having with just days to go before the u.s. election? we will discuss that later this hour. this is bloomberg. ♪ emily: tesla's balance sheet may get a boost from solar city. the impending acquisition could add a billion dollars to its cash balance in three years. elon musk, chairman of solar city, has been making the case for a tie up since august. the deal has been criticized, with some calling it a distraction from tesla's carmaking business. meantime, tesla is out with its first solar product, the solar roof. tom randall explains musk's plan for a solar trifecta. >> take a look at the roof of these four houses. can you spot the one covered in solar cells? that is a trick question. they all are. tesla just unveiled

selina wang joins us from new york. why the dramatic cut to the forecast?uest: this was a seasonal forecast and they clearly missed for the season. they said over and over on the earnings call that they had softer demand than they expected and they had a new product come out and said the transition from the first version to the second was the reason for a lot of weak demand. another interesting data point is the aipac region. they had a revenue drop of almost 50%. they said on the earnings call that they need to reevaluate their strategy and think about how to target users there. specific this outlook to the effect it ran or does it span the entire wearable universe? there are a ton of competitors out there all doing slightly different things, but it seems enthusiasm around the space has waned. some of the news is specific to fit it but the overall wearables market has been expanding. the overall market grew about 25% year over year, but while it is growing, it's also getting more crowded. you have samsung, apple on the high-end. you have newer entrants com

brad: bloomberg technology reporter selina wang in new york and jitendra of bloomberg intelligence.hank you. still to come, the cyber firm that first pointed the finger at russia for the dnc hack is back. this is bloomberg. ♪ brad: one stock we are watching, symantec shares are lower after forecasting earnings for the current quarter that missed some estimates. symantec is the biggest maker of cyber security software and it has struggled as the pc market decline and hackers develop sophisticated techniques. shares areye surging. a losspany is forecast ofhis -- -- forecast a loss $1.50 per share and without that it will be more than one dollar per share. an extraordinary series of events from hillary clinton's use of primary -- a private e-mail servers to ones like this 1 -- mr. trump: russia, if you are listening, i hope you're able to find the 33,000 e-mails that are missing. brad: we also have the dnc hack this year and countless claims by donald trump that this election is rate. the cyber security firm that first identified the russian --olvement in the dnc hack there's ceo joins

we caught up with selina wang and kevin carter. they have the largest tolling of alibaba.re just now getting the internet on mobile devices. the consumer is the real growth story. the mobile and internet has changed the way we consume, it has changed the way emerging markets consumer. it's the reason you see such incredible growth. for a company the size of alibaba is quite extraordinary. you were talking about the facebook results. they german 55%. there are not any companies the size of those two that can grow at faster than 15% on an annual basis. broughthere have been it concerns around growth in the chinese economy overall. i sat down with mike evans of alibaba. take a listen to what he had to say. mike: china is not in the bubble. the economy is slowing but not slow. the combination or components of the economy are changing rapidly from investment in manufacturing to consumption. --ly: as someone who focuses focuses on emerging markets, do the numbers in china concern you at all? kevin: they don't concern me. they are slowing down and have been for a decade. that's t

we now go to bloomberg's global tech reporter, selina wang. welcome. nue and earnings per share, but it looked like they did better on the earnings and the revenue. selina: they did. they did not report growth merchandise, however. they decided they want this to be an annual metric because i think a big story about alibaba earnings was that we are just an e-commerce company. the other earnings we have -- we want to pat attention to digital media, other initiatives. david: talk about cloud computing -- that is one of the headlines -- how they may have gotten --it is a little like amazon. selina: it is still far behind amazon web services, but it is growing quickly. you see triple digit growth. it is a small portion of the business, but they are really investing in this part of the company. rate of like given this growth and the narrowing losses, it could reach profitability next quarter, even. david: where are they in the core business of merchandising? selina: it is very strong. they have really strong margins. global monetization is increasing. they ar