steve jobs dropped out.ark zuckerberg dropped out. >> reporter: less thank t two ys here, elizabeth dropped out two. >> within a few classes in chemical edngineering it was no sir necessaot necessary for wha wanted to do. >> reporter: she launched her company theranos. she wanted nothing less than to be the apple of health care. she mimicked steve jobs, from the signature black turtlenecks to recruiting his former head of software. >> this seemed like a really bright young lady who is very driven. has a really interesting idea. >> reporter: but he quickly started seeing red flags. >> she'd prick her finger, and then she'd put blood on something, she'd put it in the machine, sometimes she would say this part doesn't work anymore, which was a little bit odd, but some of that you expect from a startup that has a product that's not done. but the problem is it never got better. >> reporter: he quit after about a year, but elizabeth kept going, eventually getting an enormous loan from a software executive. >> i th

david: by the way, dave you mentioned the time when steve jobs lost his job. of course he came roaring back after the people that tried to follow him could not match his success, and then apple took off , so i'm just i don't want to wish any harm on tim cook but do you suppose that if things continue to go down as they look like they're going down now, somebody could say maybe we need some new eyes and new innovation at the top of apple? >> yeah, i mean it always takes them a couple years too long to figure that out, right? the guy they hired as you guys all remember, john scully, if i'm not mistaking was a pepsico marketing executive and that was the skillset that 10 smart board members decided they needed and will they get it right? not very likely. i mean, the number of companies, here is the interesting thing about apple. the number of companies that are purpose-built for one technological or economic era that survive and dominate the next one is so small, apple is an example that came in during the, you know, the first pc era and dominated and then fell a

it will not tonight tim cook is not a product visionary like steve jobs.that but there are people within apple who are in all working on new fresh products that will excite peop people. >> to your point about the watches your scene overall sales of watches are down. apple is dominating in that sense and i don't see air pods will go anywhere but focus should be on how they will monetize by the technology with the vehicle and all the interconnectivity but that's a major opportunity and the pressure will be on service business and intro. in regards to the investor world you got a company right now with the stocks plummeting taking down a lot of suppliers as well and do you hold on to the stock heading into earnings? especially the fact they have $130 billion cash on hand according to cook so i would say he may use the money for buying back and inflating price and evidence what's your thought on that? >> he wants to become cash negative and get rid of the cash and put it into the business by other businesses and i've often said i never bet against apple. but i

to phone and talk about since steve jobs some of us have dubbed it the steve jobs a month thank you start off like the cliche goes in a garage just like the you look back and founder of jobs and steve wozniak and phones knew i was a d. so this silicon valley thing became a template for us so i'm also going to help you want to once. players can even replace their employees with robots and decide what success in business means to them. this position which is it worst case and from a social point of view the worst case scenario would be that you create a company that does without work is entirely this is so they're forced to it's every unscrupulous capitalists dream up with that is the other scenario is that you supply clients with questionable morals yes do we want to give players these options in the game but these are. the four engine is going to give. these two independent studios are exploring new creative farias both good company and the longing are slated for release the spring. and finally when the temperatures get really frosty here in northern europe many winter sports fans really

people think if steve jobs had $2 billion we have 2 million less. because how could they get that rich? maybe in our lives we see it that way if we won somebody else lost i think trump sees it that way. >> it is easy to see those trade deficits and a surplus is a zero-sum game. >> look at welfare from when the country was fine - - founded wealth is created when people are free to do things like what steve jobs did the only way to get filthy rich in a free market society is to give consumers something we want to do a better job. rockefeller, vanderbilt were vilified but they were neither bothers or barons or robbers. rockefeller or the price of kerosene so much people could read at night for the first time he may have saved the whales because it was no longer economical to get whale oil he found cheaper ways for people to travel. they did good things but they must have taken something from us? . >> they also see a need that people have and instead of government filling the need which he does very clumsily importantly case after cas case, they fill th

can tim cook now pull off the steve jobs trick and essentially create a new product series beyond theto keep growth powering ahead and shifting to services may be one way to do that it is something we're seeing across the tech sector and across the manufacturing sector. whether he can come out with a new frontier is really what everyone is watching >> gene, what do you think, especially when someone like kara swisher comes out with a column in "new york times" saying is this the end of the age of apple >> i think it is ridiculous. i think we've seen this before there's a pendulum in investing in apple it now is on the side of disbelief, understandable given what happened last week. i think the piece that gets missed here is the company financially is in great shape and the fact that they're having an all-time record quarter despite that doesn't usually happen usually with a revenue miss, there's impact on earnings they're going to have a record quarter. the reason i emphasize that is twofold. it emphasizes the company has a great cash position to advance what it is doing today and add

market cap i don't have what the stock is up under his tenure as ceo but you can't tell me that steve jobs gets all the credit and he's riding the coat tails >> you said he's riding his coat tails years after year the guy has made a lot of money for shareholders >> he has. >> in his own right. >> throw stones at me -- >> i'm not throwing stones we're having a debate here >> he's a steward. i'm like to have him watching as an executor of my estate >> he's made you money >> tell me where the innovation has been >> i think your definition of innovation is different from his. >> he said he was incredibly inni innovativ innovative i invite you to tell me where he's innovative. >> it's a fortune 50 business. that doesn't count as innovation why does it have to be a feature on a phone he hasn't helped transform the company into this whole eco system and because of the phone they have a 40 billion dollar service. >> what part of the eco system did he put into place during his tenure >> you don't see he's responsible for any part of the services business? >> the services business was there before h

special investigation into the rise and fall of the woman once called the next steve jobs.st self-made woman billionaire, now facing the prospect of decades in prison for fraud. our business correspondent rebecca jarvis here with this. >> good morning. a truly remarkable story. at the height her company was worth nearly 10 billion. she attracted some of the most powerful people in government to her board and her blood testing technology was inside of walgreens stores but it all came crashing down and this morning for the first time you're hearing from elizabeth holmes under oath. >> this is the testimony of elizabeth holmes going on the record in san francisco, california, 9:00 a.m. on july 11th, 2017. ms. holmes, please raise your right hand. do you swear to tell the truth, the whole truth and nothing but the truth? >> i do. did. >> reporter: this is elizabeth holmes seen here in this never before aired testimony. once a fast rising star in silicon valley, she sits across from 12 attorneys under investigation for an alleged elaborate years' long fraud. >> did it concern yo

. >> steve jobs or -- >> my apologies, tim cook. >> i think he talked about china as sort of a majorssue china has been a problem that has shown up now what we see in many parts of the world is apple does have a strong in-store base consumers have invested monetarily and emotionally in applications as well as the products and accessories many people are tied into the apple ecosystem. in china, that's not the case. many are tied into wechat, so they're less tied into apple so i think there's bit of a nationalistic shift in china going on we are getting some indication of this. there is a tendency for chinese consumers to shift towards chinese brands in the current climate between the u.s. and china. >> to your point about the chinese smartphone companies, simply innovating a bit faster and more dramatically than perhaps those outside of china have estimated, what does this mean for apple outside of china and their ability to compete with chinese smartphone companies, and what does it mean for apple's prospects for obtaining growth elsewhere >> it's a relevant question. one issue we se

. >> if she would have made this work, she would have been the next steve jobs. >> reporter: her promise to run hundreds of tests from just a drop or two of blood. it was in walgreens -- >> not only did they fool the investors, they fooled patients. they fooled doctors. >> reporter: where breast cancer patients like sherri got bad results. >> no one from theranos ever called me to apologize. no one. >> reporter: but it begins to unravel when in this footage elizabeth is finally forced to answer difficult questions under oath we the securities and exchange commission. >> did it concern you that a number of tests weren't working on theranos' devices? >> reporter: suddenly, the woman who always seemed to have all the answers -- >> we are the only lab company that is actually really focused on leading with transparency. >> reporter: -- now had none. >> i don't know specifically. i'm not sure. i don't know exactly. i just don't know. >> reporter: there were those hundreds of tests her signature technology could supposedly perform at walgreens. >> and how many tests could it run at that time i

certainly steve jobs and his brashness, along with his freshness and creativity.pitomized by the phrase "move fast and break things." did we prize the wrong things here for too long? john: i think we did. i think "move fast and break things" was fine when you were a small company and you had a very small impact when you broke something, or even when your impact was confined to one sector. you're impacting other technology companies. when you're impacting the american public at the scale these companies do, breaking things has many unintended consequences. and i think we hit another mantra. brad: a lot of the tech companies that we write about are very good at things like tax minimization, tax avoidance. so what is the responsibility of stanford university that has instructed these visible leaders, larry and sergey, evan spiegel at snapchat, in crafting a set of leaders that take things like ethical leadership and the service mindset into account? john: when we redid our undergraduate curriculum about six or seven years ago, we introduced an ethical reasoning requi

there was a reality distortion field around steve jobs.you are around the president everything seems bigger, grander. there could be good things about that. there's also this atmosphere that gets created that's extremely cut throat. every white house is probably tough, but especially the atmosphere that's been created there that encourages a lot of the in-fighting. >> look, there's competition and there's an atmosphere of in-fighting. then there's not knowing right from wrong. >> yeah. >> not knowing your own moral compass is different. >> i realized the closer you get to the poles of absolute power the more distorted your moral compass becomes. it's about me losing myself. one of the scenes in the book is when the president and i are sitting in the private study creating what amounts to an enemies list of people in the white house who i felt were basically disloyal to him. >> who was on the hit list? >> a number of them i name in the book. sean spicer, reince priebus. a lot of people who abandoned him during the campaign. he was trying to

and this is what steve jobs had the idea when they made apple but really how do we get more comfortable and make this fluent quick so the good news is that wyoming has voted already all children from kindergarten will learn computational thinking that you cannot graduate in high school in chicago without it so and then to also teach robotics we need to find the stuff that's already working and how to share rapidly so that is good at that level. and then we get familiar and with these new boot camps 23000 will graduate from these boot camps it is three months and not years but the great news the players that are willing to hire from there 1500 and growing we have 45000 young people out of school and out of work in their twenties so now instead of that they have this code crew and they are transitioning they are aging out of foster care into the tech sector where we have servicemaster or fedex and i have this employee base so now 70 cities are doing this fast route for thousands and to fill those millions of jobs that we have in this sector around the country. >> so you were thinking how

. >>> plus, she was supposed to be the next steve jobs. >> he was her hero. >> so why are they

when they said there was a reality distortion filled around steve jobs, when you're around the presidenteems bigger, everything seems grander. there could be good things about that but there's also this atmosphere that gets created. its extremely cut throat. every white house is probably tough but especially the atmosphere that's been created there that encourages a lot of the infighting. one of the things i tried to do in the book is get people inside of donald trump's head. sometimes you're just like, what are we doing? one of the points i make in the book is for him, everything is personal. everything is a personal relationship, so that manifests itself in foreign affairs, his personal relationship with the foreign leader is more important than geopolitics. everything for him is deeply personal. >> the president just tweeted about you while we've been doing this interview. >> really? >> i'll read it to you right now and to myself, a low level staffer that i hardly knew named cliff simms wrote yet another boring book based on made-up stories and fiction. he pretended to be an insider w

, when people say there was like a reality distortion field around steve jobs, and when you're around the president, everything seems bigger, everything seems grander. and there could be good things about that, but there's also kind of this atmosphere that gets created, it's extremely cutthroat. i think every white house is probably tough, but i think especially the atmosphere that has been created there that encourages a lot of the infighting. what i realized was that the closer that you get to the poles of absolute power, the more distorted your moral compass becomes. >> hmm. you're the biographer here. does this line up to the trump you know and is this typical to people who are close to the president's orbit, they get pulled in? >> i think they do, but you also bring your own lens to this experience. and i think that a lot of people drawn to donald trump want to be pulled. when i met him, i thought that he was an incredibly shabby figure. he actually made trump tower look worse to me than it looked walking in, because, you know, his -- he deny seem to have the grasp of any facts.

the standard of growth for them is insane because of what steve jobs, the legacy he left. with every new phone, if it doesn't have a bread-making attachment, we're disappointed. and they're also asking a grand for some of these iphones. that is a lot of money on a product that is now under incremental change. it gets slightly cooler with each new generation, but the iphone is still the product steve jobs left us. >> and the phone companies have stopped subsidizing the purchase of phones which tim cook in an interview on cnbc yesterday acknowledged was an issue. pricing was an issue. the slow down in china was more profound than they anticipated the trade wars having an effect on their sales. a whole host of things added up to the surprise announcement after the close yesterday. they had their worst day in six years, today down almost 10%. that's a pretty big move for a company that at one point was worth a trillion, now 450 billion less. but it's also indicative of other problems we're seeing of the stock market decline. today we got manufacturing data far weaker than expe

there is a famous moment in silicon valley lore from 2010 when steve jobs was onstage, mark zuckerbergas in the audience, and he went after mark zuckerberg, saying our companies have two very different approaches to user data, to user privacy. there's no question there's some icing on the cake here for apple in terms of pr. once again, for the umpteenth time, facebook looks like the company, mark zuckerberg looks like the ceo who is just recklessly pursuing growth at the cost of user privacy. at the same time, particultim c again gets to look like the morally righteous figure in silicon valley. truly, data privacy is a fundamental issue at apple and it is something that they see very differently from the folks at facebook and even other companies like google and apples. >> dylan, what's the back story here? walk us through the timeline. >> sure. the back story, quite fascinating, what you have here is this reporter at techcrunch uncovering the fact that long after apple had moved to block facebook from using its platform to mine people's data, that they were doing it anyway. and there

there is a story that we tell about our history from sutter's mill to steve jobs' garage about how this is a place where anything is possible. this is the coast of dreams. that is true. but you should not have to find gold or make it in the movies or create a million startup to live that california dream. it is for everyone in california. everyone should have a good job with fair pay. \[applause] governor newsom: every child should have a great school and a teacher who is supported and respected. \[applause] every person should be able to go to college without crushing debt and get the training they need to compete and succeed and every senior should have the ability to retire with security and live at home with dignity. \[applause] governor newsom: that is the california dream. not to get rich quick or star on the big screen but to work hard and share in the rewards and to leave a better future for our kids. the work we have spoken of today cannot be the judge of a governor alone or the legislature or even the entire government. it can only be achieved if we all share the spirit of a y

to be sold to sun, only for apple to buy next and bring back steve jobs?nted, it took a couple years to get their feet back underneath them but they did come back. i wouldn't do that. also thinking about the amount of cash they are sitting on, they are loathe to make big acquisitions but i think maybe now's the time to do something bold and try to diversify beyond the iphone, which seems to have kind of fallen into the trap of becoming an iphone company versus a computer company. liz: 1998, i think the stock was around $17. quite unbelievable where it's been and where it's going. but as we see it now at about $147, the annual high was $233 so you would still be buying it at a discount. that said, tom, i really need to push you on this. it looks like apple is trying to simply say that china's slowing economy is hurting their sales. what about the fact that two chinese companies are very much in the game, they make very solid phones that people like to buy, and they are less expensive. is apple kind of ignoring the fact or trying to say don't look over here,

and by all means, and i do think it is significant that both steve jobs and bill gates dropped out of college. so please -- [laughter] >> okay.i think that brings us to the end of the evening. can you give these two gentlemen a hand? [applause] [applause] [inaudible conversations] >> and it is three days of booktv on this martin luther king jr. day weekend. tonight and tomorrow on. [inaudible conversations] a trump administration strategist, sebastian gorka offering his thoughts on how the u.s. can strengthen its national security. we attend the free minds book club at the washington d.c. jail that connects inmates with contemporary literature. on monday, an extra day of nonfiction book programming. we look at the lives of frederick douglass and supreme court justice, john marshall. retired general stanley mcchrystal and california democratic senator, kamala harris. both reflect on their lives and author and white house reporter, april ryan leads a discussion on race in america. this holiday weekend, three days of nonfiction authors and books. for a complete schedule, visit booktv.org

reporter: how did so many smart people get soit wrong about this woman who early on was compared to steve jobs? today she's being concerned to bernie madoff. when you look back at this story as we is have now over the last three years, there were so many red flags, so many warning signs. >> you can see a special preview of "the dropout" on "nightline." the dropout podcast also launched today and features new episodes every wednesday. >>> and in accuweather, we are underneath sunny skies for much of this week, but a warming trend will take over starting tomorrow. so we're going to see numbers actually above average for this time of the year. live doppler 7 giving you the active sweep across the region. not finding a drop of rain tonight. the picture, it is a gorgeous one. we have had some gorgeous sunsets this week. and this one equally as delightful, live view if our east bay hills camera. the colors of the evening sunset. noting we have a quiet evening on the way and a rain-free 24-hour period as well. we'll look at the month so far in terms of dry days and rainy days. we started off the mont

the federal reserve will release the minutes from the last meeting and it marks 12 years since steve jobs announced that apple would be launching the iphone on friday we'll see a measure of inflation with the consumer price index for december. >>> even though the holidays are passed there's still deals to be had for the month of january >> it's great to be here. >> for anybody that's not completely shopped out, there's some stuff still around and maybe it's the best time to be buying it. where would you start? men's apparel. >> that's a great place. you may be tuckered out from shopping, but if you have to return some things, it's a good time to buy. you're there anyway. what i'm seeing is men's warehouse and jos a. bank about $20 off 100 and all the way up to clearance level at top man and destination excel. so keep your eyes peeled from 20% off all the way to clearance. >> what about with linens and towels would you say this is a good time to be buying that too >> in january, since the 1800s. >> since 1800s, the year >> yes we have always seen white sales in january so i'm always advisi

get underscored on a night like tonight >> no, i think -- they've done really well since then and steve jobs has been gone a long time it was a tragedy when he died but i think he's been doing a great job with the company since then, running the company but all of tease companies, someone the other day was asking about apple. it's a product cycle where is their exciting new product and exciting new pray muirs within that company. this group has been together a long time and i'm not meaning to call them old. it's just they've had so many hits, you're kind of -- you think of them as like this amazing rock band who has just been doing hit after hit after hit so they've got to see what is the new product coming and is there one from this group and at the same time, the stuff that tim cook has done with that company is just -- is astonishing in terms of running the company and making it such an enormous economic powerhouse but, you know, like anyone else, reality hits when something in china is going wrong or the economy or there's trade talking, you're not immune from this unless they had the pr

this is what steve jobs and steve wozniak had when they made apple, though it was a bit bigger. how do we get more familiar and comfortable and learn to make this a more fluent thing just like you read and write? the good news is that wyoming has voted already that all children from kindergarten will learn coding, computer science and computational thinking, fully deployed by 2023. you can't graduate from high school in chicago without learning code. so there is computer science for all. there is a tribe in oklahoma that teaches robotics in head tribe.the cree so we need to help share rapidly, almost like comity organizing. for the grown-ups, how do we get familiar? it is a great program that we techhire, it is about finding boot camps. 23,000 americans will graduate from these but comes this year. you get apprenticed into tech. and it". has gone from two or three employers willing to hire from there, without to 1000 and growing. others called code crew, people transitioning fosterison, aging out of care, veterans and others, getting people into the sector where we have servicem

steve: i do a lot of the website, back-end work, as well. it's not a small job. lemonis: okay. was kind of interesting meeting lee, because the things that he is doing, i would expect steve to do. steve is too separated from what happens on the front lines. ♪ how are you? tracy: i'm tracy. lemonis: tracy, nice to meet you. i just spent a little bit of time with austin. tracy: my husband's name is austin, yes. lemonis: oh, it's your husband. tracy: uh-huh. lemonis: okay. tracy: we've been married almost 13 years? something like that. lemonis: i like him, by the way. tracy: he's very passionate about what he does. lemonis: yeah. tracy: and his people out there. lemonis: so, could could you take me through the sales process? like, if i want to order a certain type of floor... tracy: so, you're basically asking for a customization on this? lemonis: yes, can that be done? tracy: if the production team says we can do it, i'm not walking away from the sale. lemonis: why? tracy: so, we get 20% of the cash up-front. lemonis: uh-huh. tracy: if i don't have a lot of cash customers for the

is still all coming from the steve jobs era. missing where that elon musk character is in apple. i think apple has a few different problems i thing is just a technology problem. what is the latest and greatest features which is probably face recognition. when you look at the consumer in china it creates automobiles just as recently as a couple years ago. that is the risk. >> that is an excellent point. to go back to something that you said. when we speak of the china slowdown. and we speak of the trade dispute. they are geopolitical risks. when they are guiding down for the quarter and the year. they can use those excuses as scapegoats. that's a problem to you. i am missing where the magic is. they did poach the have of artificial intelligence from google. that's what they need to do. they are missing a huge data gap. they have an innovation issue. is there more room for tech to sink. not to some insane place. what is the new leadership in technology. i was reading an interesting article the other day or how they should think ab

fake or fake modesty that's great news here i feel like this is a perfect bauhaus object in fact steve jobs went to a lecture or somebody from the nearby house and said ok i totally love the principles about how so we always carry about house in our pocket for anything that somebody with the latest phone feels more human rather than this they don't just feel fashionable it's not just about big numbers it's about not falling behind store still being fully able to connect when the human is the most design thing there are. now we better get a new concept of design because it's just fine to have an i phone it's not so fun to be an artist. the unity of art and technology developed indes owl joins to harness maya's focus on the needs of the people together they yield good designs for every day objects that is the bow house effect. the basic tenets of our house have been passed on through its successes and have traveled around the world. the unity of arts and technology has been superseded by the unity of arts and come us. about house as a brand and lifestyle. all that's great until you realize th

we like to think of tim cook, johnny i've, steve jobs when he was around.0 business class seats per day between the u.s. and china, that's a lot of people making this happen. that is what is required to have this empire of gadgets. you need people flying from their headquarters to wear these things are built. shery ahn: with the slowdown in iphone sales, we are seeing apple shift their strategy toward services. i wonder, where does that leave a lot of those asian suppliers for apple? mark: these services have to operate on something. even though apple is expanding apple music to the amazon echo, still,them on sonos now, the preferences for them to operate the services on apple devices. still, they go one and one have an and it will not impact short-term on these suppliers. we knowean -- emily: that the market share is shifting and the broader smartphone market is contracting, but is anyone winning? it sounds like huawei is doing better than many of its competitors. mark: huawei actually topped apple to become the second biggest global phone maker after sams

steve jobs never visited china wants. tim cook has gone there several times. of a test is this for him? test.s is a very big this is the world's most populous country. this is the country with the most smartphones. growth crucial to their and they just price the device wrongly in that market, theseally when you have other competitors putting their own devices into the market and -- and they have got a lot of comparable features. that did not happen here. going into this last quarter, they thought they saw a lot of growth. they had a lot of reason for optimism, but i think they failed to for see how sluggish the demand, whether it is down to the trade war or economic a sore, china has become subject for apple. emily: he has been making great effort to engage. does this follow him? >> i think the trade war has something to do with that. i think he has control over how they compete in that market, so did they price it correctly? i think it is down to what is the next big thing? that is the question surrounding tim cook at this time. ar,s it a are, -- autonomous v

there is a story that we tell about our history from setters milled to steve jobs gorge. a place where anything is possible. this is the coast of dreams, that is true. but you shouldn't have to find gold, make it in the movies, or start a billion-dollar starter. it is a dream for everyone in california. everyone should have a good job with fair pay. every child should have a great school and a teacher that is supportive and respective every person should be able to go to college without crushing debt, or get the training that they need to compete. every senior should have the opportunity to retire with security and live at home with dignity. that is the california dream. it's not take get rich quick. to work hard and share in the rewards. the work we have spoken of today cannot be the job of a governor alone. can only be achieved with the spirit of a young dreamer. young dreamer said i wasn't born in california, but california was born in me. there is a spark and california courage born in all of us. now more than ever american needs california. they need the guiding ligh

of tim cook,ink steve jobs, some of apple's other top executives, but imagine 50 business class seatsay between the u.s. and china, that is a lot of people making these things happen, and that is what it requires to have this empire of gadgets that are producing hundreds of millions of devices. any to five people from headquarters to where they are built. >> we are seeing apple shifts strategy toward services, where does that leave a lot of asian suppliers for apple? a good question. the thing to know, these services have to operate on something. even though apple is expanding, onsee integration of itunes samsung tv's, the preference is for them to continue to operate services on apple devices. , and itthey go together is not going to have an impact in the short-term on asian suppliers. emily: we know the market shery is shifting, and the broader chinese market is contracting. is anybody winning? it sounds like huawei is doing better than chinese competitors. >> while way is seeing a lot of success. they topped out to be the biggest global phone maker after samsung. emily: why is that

do you think bill gates or steve jobs would have started their companies if they knew the united statesng to take most of of it? >> yes, i do. in california we actually have a robust tech industry because we don't enforce laws -- trish: do you have colored glasses on there? >> medicare for all. i am able to quit a job and start a tech company if i had a medical condition before. trish: the government is going to take it all, ethan. why work that hard. why not just sit back and read shakespeare all day and enjoy your life? why bother if you can't keep it. >> why did the industrialists in the 1950s keep working when we had 98% tax. trish: none of the people paid it. the law of diminishing returns. at some point the tax rate comes so high, nobody payed the taxes anymore. they just find ways to divert their income elsewhere. i'm sorry, deneen. but we are out of time. stacey abrams, the former gubernatorial candidate in georgia will be delivering the rebuttal to the president's state of the union address. she is not opposed to non-citizens voting in elections. this is the woman who is the fa

"and we are calling it iphone" -- those iconic words were uttered by steve jobs 12 years ago this wednesdaye the world to apples now flagship product. jobs introduced what is now the most recognizable smartphone on planet. apple has sold one and one billion iphones and last year became the first publicly traded u.s. company to hit a $1 planet. trillion market cap. since those highs, it has been a bumpy ride as the company recently cut its forecast, but morgan stanley just gave apple in positive endorsement. and analysts said a slowdown in services revenue last quarter looks "temporary in nature" and mostly related to applecare -- analyst said.- an 'swant to bring in wedbush managing director who currently has an outperform on the company . >> this is an installed base story. 750 million iphones active. dark two to four , irters, but ultimately think apple will emerge from this with a focus on the services business. and price cuts with china front and center. emily: samsung also reporting disappointing news this week. sales down, especially in the chip business, but also in the smartphone bu

those iconic words were uttered by steve jobs 12 years ago. jobs introduced what is now the most recognizable smartphone on the planet, apple has sold over one billion iphones and apple became the first publicly traded u.s. company to hit a $1 trillion market cap. highs, it hasse been a bumpy ride as the company recently cut its first-quarter forecast. morgan stanley gave it a vote of confidence. they say that the future looks positive. apple rose. to discuss, i want to bring in dan ives, who currently has an outperform on the company. do you see the positives? dan: yes, i continue to view , 750 million iphones active. in upgrade of those opportunity over the next 12-18 months. this is been a dark two-four quarters. ultimately, i think apple is going to emerge from this with a focus on the services's nest. that fundamentally speaks to our thesis that they are going to focus on services and price cuts with china front and center. emily: samsung also reporting disappointing news this week. sales down. in the chip and smartphone business. they do