>> it doesn't need to get a tesla valuation to have it be a good due from here what is the tesla valuation at that time if gm does all of the things that gm says it can do. tesla is not going to have at that 46% better market share than gm at that time if gm can do what it says. i agree with kim gm is a show me story. even when they show me the numbers right now and still trades at a low multiple the idea we are going to jump on and get excited about 2030 is hard to fathom because even right now when they put up good numbers, i feel like it doesn't get so much respect. i am with tim, bullish, long they have been telegraphing this, but i thought those were good numbers we will see. i think new cars -- i am interested in how the lyric does which is coming out in 2022. >> does your position change much now that gm has put out targets for 2030 could you put out targets for 2030 it's a long ways off is the point. >> i could i will be 97 i am sure i will have a name tag. the short answer is absolutely not. let's give them the benefit of the down karen mentioned the show-me story. they should mov

a lot of uncertainties around the business and valuation is not something -- i know growth stocks get punished when they don't grow, but you can't say tesla is not growing very impressive. even if you annualize this $1.83 number, the pushback is valuation, but if you get 8 bucks a share annualized in 2021 and take that out to 2025 and get $40 a share. that's the execution it will be interesting to hear elon talk about margins. they have been so successful on chips and other parts of the supply chain is still spending money. i heard him say they have been spending money flying parts around the world et cetera, et cetera it implies it can be more profitable in the future i can't jump on the band wagon but these are good numbers >> are these the kind of numbers you have to hold your nose i don't know if gm has the runway at the rate tesla is selling them >> i think you have to hold your nose i missed this. i wanted to buy this after the split announcement last summer and the stock ran up to tim's point, there is a bunch of levers. the fact they can make a car more efficient than standard carmakers is leading the pack. having said that, you h

you have tesla this year supposed to do 52 billion in revenue and 7 billion in earnings the only one that really compares in terms of the valuationn earnings is amazon. when it got to a trillion dollars in september of 2018, 232 billion in revenue that year but, 10 billion in net income. famously amazon restraining its margins. tesla doesn't restrain its margins. and basically similar story for microsoft and alphabet as well they basically had far larger business scale when they got to trillion dollars even if the stocks could not be considered cheap on an outright valuation basis except for apple perhaps. >> mike, there's this piece on the wire right now look at yesterday's action on tesla. they point out the hertz order, passive fund buying. >> yeah. >> squeeze on short sellers but then the options, the bullish options bets and the way in which market makers had to buy to hedge is it a comment on how options are increasingly powerful dynamic on individual names? >> absolutely. been the case for about a year and a half and in the short term it's absolutety thing that creates this force behind the buy. now, it only can happen if

i guess you can make the argument that it is factored into the valuation, but doesn't this mean tesla can manage the production, which once upon a time was a knock on this company? >> no question, i'm with you on that one it was a knock and justifiably so at the time but they seem to be growing into it and getting more mature in terms of a company and frankly, in terms of management style as well i'm not going to make a case for this valuation but you probably have anywhere from 35 to 40% eps and revenue growth, which is significant. it doesn't justify the valuation. but significant. and i'll say again, i think the stock is going to test that all-time high of $900, sometimes before earnings at the end of the month of october the negative news cycle seems to be well in its rearview mirror i think the catalysts for it to go higher are there in front of us >> no pun intended if you could ask mary barra about the supply chain and production cuts because of shortages, what would you ask her? doesn't this make your head scratch when i hear tesla delivering record numbers of cars when gm and

then power your ev and the rest of it what is the relative importance of those two systems to tesla's valuation sure. so just to take a step back, you know, and let me clarify the apple-esque, what i mean by that is my first apple product was an ipod . today my family owns 20-plus devices from apple so they hooked me with that ipod , and they were able to sell me -- really, what locked it in was itunes that then allowed an easier, a better experience, if you will, that allowed me to buy more of those devices. if we look at tesla in the early adoption, they have about 20% market share on the ev side of things globally, if you will i agree, their market share is likely to come down. the question is around timing. will they be able to use that market share to pull in that brand, that understanding of people saying, hey, tesla is about quality, they understand this electric -- you know, the energy shift better than anybody. so i want to put their solar panel on my house, and i would remind people that there is an aggressive marketing campaign going on by tesla right now on that nonev side of things

tesla? >> their valuation now is all the world's leading automakers combined. h stock in many ways. they are weathering the chip crisis better than legacy automakers because they write their own software and have been rewriting software so they can maximize ship usage. that helps them, so they are a tech company. alix: we have a lot coming up in the next 24 hours. president biden delivering remarks on infrastructure, a u.k. health secretary coming at the top of the hour. we will take that on radio for you. guy: fascinated to hear what the health secretary has to say. it has been a long day. tomorrow, we were expected to start trading. we have american airlines, southwest. we will speak to mike jackson from southwest and autonation, looking forward to all of that. this is bloomberg. ♪ moving is a handful. no kidding! fortunately, xfinity makes moving easy. easy? -easy? switch your xfinity services to your new address online in about a minute. that was easy. i know, right? and even save with special offers just for movers. really? yep! so while you handle that, yo

valuation. as we were pointing out yesterday, tesla is the first noninvestment grade company to reach a $1 trillion, so you have to wonder whether eventually it is going to follow netflix and get that investment grade rating. that is something down the line. we know the auto business is capital-intensive, so that is the challenge tesla faces going forward. tom: jon from england emails in. ask david, do you call it alphabet or google? jonathan: there we go. [laughter] david: i call it both. google owner alphabet. tom: facebook is going to do this? they are going to change their name? david: we will see how that one goes. jonathan: it will always be facebook, tk. tom: it will always be google. david wilson, thank you so much. what does tesla do today? jonathan: i don't know. the market is the market. we have been watching this tesla story for how long? the market story is what it is. tom: i saw liz ann sonders on twitter last night had a brilliant tweet showing the rest of the market. tesla is not the market. jonathan: no. do you want to talk about jetblue quickly? tom: i missed that. jonathan: fuel

weeks to the 12th of october, morgan, over $300 billion in market value they added a netflix to tesla's valuation on and on from there >> yeah, and the options activity around this name has been exploding to your point, too. it just hasn't been tesla in the ev space that has been seeing some pretty sizable moves to the upside this week i mean, lucid is another another name that has just had a gangbusters run. up almost 60% week to date up another 7% after the company said their first eliveries are set to begin this weekend and also fisker is higher and workhorse which has been beaten down as of late. up something like 10% this week and charge point and some of the other charging stations as we saw hertz said they will build out their own charging infrastructure to go along with the tesla fleet. >> lucid's value was not afford. which by the way had great numbers the other day. stock was up 12% just to put it in some perspective. we have about 30 seconds here, as well, to get to a mover we haven't mentioned this morning which is charter communications. it is down and it is down on concerns about su

so, does that justify tesla's valuation? there's a market each of those stocks will be bought and sold by people with different opinions what it means over long term is electrification of the fleet is going to take long time. there's 16/17 million new cars sold in the united states. i'll let the market decide the relative valuations. but all the companies are making these commitments and that's what is going to drive the chain. >> a very diplomatic answer. we'll talk more about whether it's enough to combat climate change >> thank you >>> as the trucking industry continues to suffer shortages ahead of the holiday season, one company is going strong, beating estimates with nearly 6.3 billion in revenue reported. down 4%. but joining us is ceo, bob great to have you on thanks for being back with us. i was looking for your results and gang busters growth in your global forwarding business o 138% for the quarter how does this speak to all the imbala imbalances in the supply chain and to move through ocean and air right now? how

tesla. it is a cult in some ways, people who have them, they want another one, nobody cares about valuation.guiding mar jips, the cfo says the margins will fall so again to get to their valuation, that i have to scale up to millions of cars sold, to ramp up the factory, they will fall the credit revenue in the third quarter was the lowest since '19. so they will not have that buffer we think there is a margin problem going forward. we don't think they're amazon, we think they're aol >> gene. >> yeah, let me start with the cfo saying margins will fall the cfo said over the next few quarters he's uncertain what will happen with margins and implying they could fall he didn't say that longer term, i interpret that as four-to-five quarters i think his words were considerable upsize, the current margins. margins are 28 and 28 point 8% and the growth margin credit i think they will be 40% over term so i wanted to address the margins. secondly, i want to address, what is the atopic here is tesla a buy or not in if you look at the current run rate, i agree with jordan it does not justify a 50 million

. >>> the electric car company surpassing a $1 trillion valuation today. tesla stock jumped 12%. all this after hertz that is placing an order for 100,000 tesla videos. vehicles. tesla's largest order ever by a single buyer. the biggest move into electric vehicles by a rental car company. hurts that customers have been wanting more cars. lately rental car companies have had trouble getting gasoline powered cars from traditional automakers. due to the shortage of computer chips and other parts. we should note tesla is dealing with a speedbump in less than a day after its full self driving software was released it is being pulled. uses complained about false collision warnings and other pop's. >>> bay area port is on notice for allegedly paid violations of the clean water act. drone video shot by the nonprofit san francisco bay keeper. appears to catch the allegedly polluter spelling a petroleum byproduct into the bay. >> it is not only are we getting airborne contamination but we are getting contamination in the water. >> caught in the act. that is tonight at 7:00 on kpix 5. >>> x

tesla's stock took off. and valuation topped $1 trillion.o remember to recharge before you return the rentals. >>> a rare find that took more than seven decades to uncover. >> a michigan woman and her new husband bought a cabinet in 1950. i just cold at auction for 48,000 bucks. >> it turns out, the cabinet was an original storage unit by charles. and there's only a few left. the widow who sold the cabinet is now 98. she told the kids their dad would be proud. >> vintage. >>> and finally, a big-time party crasher. >> this one horned its way into a friendly gathering. check out the moose strolling on to the scene. the homeowner in canada says the animal came by for the party and struck around for the weekend. >> mosey on in, wherever i can. and moose is loose. >> party-hopping, right? the moose is also friendly. >> check of top headlines, next. 1, 2, 3...yay! ♪ “i got you babe” by etta james ♪ ♪ wait hold up! here it comes! alright, everybody stand up straight. okay now let me flip it. ♪ ♪ ♪ ♪ i used to pre-rinse because mom did. but i wasted

especially when you have so many competitors coming tesla's valuation is because of the whole auto industryngs for something that, you know, over time could have margin compression so for those who invest, great i just have a hard time getting my arms around it. >> sarat, thanks for the quick analysis of that got a lot in there not just technology. we'll see you soon, i'm sure >> thank you >>> up next -- our exclusive interview with cisco's ceo chuck robbins. don't go anywhere. "squawk box" will be back after a ve qckreryui bak want it, by jimmy cliff ♪ [suitcase closing] [gusts of wind] [ding] this is the new world of work. each day looks different than the last. but, whatever work becomes, the world works with servicenow. there is something i want to ask you. um... the new iphone 13 pro is here, and when you get the new iphone at t-mobile, trade-in value is 'locked in' forever. we can always have a new iphone, forever? fall in love with iphone. when you get one now, you can upgrade every two years forever. you could be working with someone outside your company and wait for back and forth

tesla is the fifth the biggest u.s. publicly traded company. it is also the first junk rated company to reach a trillion dollar market cap. the valuationes a bondholders an unprecedented equity cushion in the view of analysts. a very good day for tesla and facebook. shareholders. we will see how that translates into the session once it opens on tuesday. yvonne: we are watching asian suppliers of tesla here. david: whether that is a parts supplier, even a peer. that has got to hurt. glad you got that. bodes well for the sector even just widespread acceptance. it also goes into -- we were talking about this yesterday. elon musk is worth a quarter of a trillion u.s. dollars on the back of the rise in tesla. 80% of the rally is actually -- to see him overtake jeff bezos, second closest rival in terms of net worth if you will. there we go. quarter of a trillion dollars. it could reach a trillion on the back of spacex. that is a longer conversation. yvonne: you still wonder about the valuation. does it justify it? the debate continues when it comes to tesla stock. coming up, when it comes to australia, speaking to the minister of trade, tour

but there will be an epic breakout coming in the not so distant future, get a bit of the tesla picksie dust valuationlly if we have the pandemic in the rearview mirror any time soon. >> jeff, what do you like? >> i want to stay in the higher end retail space in terms of energy, i don't think it's catastrophic for the consumer, but it hurts the lower end. 6% for the lower end i think there is skew there. i think the impact of price change is going to hit lower i think around $4 in gasoline, we are not there yet we talk about am ex earnings, good spend volumes is that an indication of the consumer maybe. when you think about gap, kohl's stocks that got killed, they are cheap now but i would stay away from the higher end retail space. >>> coming up, facebook changing its name details next > us>>pl merck moving higher, jumping more than 6% today traders are digging into that one, next. hi, we have an appointment. and every new business that just opened! like aromatherapy rugs! i'll take one in blue please! it's not complicated. at&t is giving new and existing customers our best dealsevery i, including up

tesla's problem was not demand. even elon musk tweeting strange that moved valuation as tesla is a production ramp problem, not a demand problem. speaking of musk, he's now more worth as a person than exxon. he is worth more than the company that owns this tv station. he's worth more than united airlines. actually this is not the full story. he's not just more than united airlines, he's worth more than 19 times the market cap of united airlines. and mark zuckerburg spoke with reporters on monday. zuckerberg noting fewer people are using facebook and instagram saying to investors, there will be a new focus on young adults, quote, we are retooling. facebook said it would buy back billions dollars worth of shares. when a company buys back shares, they cease to exist. we'll be listening to what they say about the supply chain today, and you may wonder what does twitter need with the supply chain because they don't make anything? it goes to advertising. for us it causes higher prices, and for twitter it costs them advertising. >> we are talking about inflation, and also about hyperinflation because of twitter's ceo. >> yeah

. >> i'm listening, and trying to read about the valuation of tesla, to add to the -- >> what did you call me? >> i watched it again last night. it just keeps getting more -- it's brutal. the fact that a quarter of million people have watched it, i don't know what it says about the world. >> i know, hard to stay focused. david, their conference call, one of the most boring -- maybe the biggest yawner david, this thing -- gm was more exciting as a conference call. i'm thinking this read like, not a steel company, they're pretty exciting, too. how about it read like a corrugated box conference call >> wow that exciting. >> i take those to bed i used to use legal cannabis, now i read the tesla conference call. >> those words alone right there -- >> i found myself using, where are my drops i was using drops to keep my eyes up. it was so bad. i use these. when i am trying to do the conference call, this is the only way to study it and read it. >> those get me every time. >> adam jonas, milk margins. >> put them on again one more time. >> are you sure? >> the old days when you read a tesla

tesla has become just the fifth company to reach a trillion dollar valuation.ive valuation happened after tesla stock price hit an all time high of more than $1000. other companies to reach that milestone include microsoft, amazon and apple after tesla's record breaking day. ceo elon musk is also making history. forbes reports he is now quote the richest person to ever walk the planet. forbes says he's worth more than $255 billion. about two thirds of his net worth is tied directly to shares and options in the company. and it was another solid day on wall street, with all three major indexes reaching a recording gains. both the dow and the s and p 500 closed at all time highs. the dow gained 15 points. nasdaq rose by 1/10 of a percent and the s and p gain or was up eight points. senate democrats say they have reached a compromise on a corporate tax increase. this comes as negotiations on the president's infrastructure bill in social spending agenda continue on capitol hill. senior democrats from several congressional groups are meeting with president biden to s

tesla demand >> i've got two questions, gene. i've got a question for you and gordon gene, my first question is, you look at all the other automakers and you look at their valuationsso. and this is -- >> do you think they're properly valued and tesla is properly valued >> let me back up. i think that there are pockets for some of these other automakers obviously ford has done a great job. i think there can be -- there can be companies that can turn around, they can get a tailwind within this. so if you look at the broader industry, i don't think that the industry, the broader auto industry is undervalued. i think there are companies within that. i think you're going to see some companies that have been around for 100 years that will be a fraction of what they are in a decade so i think -- i'm not trying to be cute with the answer, but i think there are pockets where some will surge. but as a net i think the auto industry is going to struggle with this transition and just quickly regarding tesla and its valuation, as someone who takes a very measured approach to valuation, it seems absurd that we're at a trillion dollars and what may seem more hard to believe, i be

charles: listen the whole valuation versus traditional, when it comes to tesla, it hasn't mattered, rightjuggernaut. people find reasons to buy it. first it wasn't making money. then elon musk smoke aded a joit on a podcast. there has been a reason it's a juggernaut. the other part of this economy, and it plays well, we talked about the metaverse and digital economy, high labor costs, stubborn supply chain issues, creating what many call a cap-ex boom, it will be a bonanza. how much role will technology play in that? >> what we've seen since the pandemic started as enormous increase in cap-ex as companies were looking to reduce cost of processes. that was automation, to automations in the manufacturing plant to back office automation. what companies are really looking to do is simplify the supply chain, a growing demand for additive manufacturing, 3d printing, versus importing goods from asia. with all uncertainty with the tariffs and now all the problems with the supply chains. you have record highs -- also support. that is good for companies like rockwell automation and docusign for the

tesla hits a $1 trillion valuation and orders 100,000 vehicles. facebook

tesla. and the ceo of rent the runway after pricing at $21 per share with a valuation of $1.3 million and hertz' interim ceo just bought those cars from tesla was a tesla bear for some time mary barra will be with us and cfo of twitter on their earnings top shares of robinhood reporting a big miss of revenue as crypto trading dropped off. revenue fell from $233 million the company's cfo telling cnbc, frankly, it will be impossible for us to accurately reflect revenue on a quarter per quarter basis. somebody is trading crypto this morning because bitcoin is down. we'll have more at the bottom of the hour >> classic story year-over year gain was a drop it has to grow to grow into the valuation. is it all bitcoin. they need shibu ina things >> one of the other issues that has worried investors is that they are not going to put new crypto on the gamification of trading. you make more money off of those if you are going to be pressured not to use some of those fancy things confetti when you make a trade and does that in turn hurt your growth too what can you accurately forecast about crypto it is li

angelo: as far as tesla's concern, to your point, we do have concerns about the valuation of the companyclearly when you think about the growth story of tesla over the next decade you have whether or not they can continue that 40%, 50% topline growth rate. that is the story as far as the company is concerned. we do have concerns on other things but we are not going to tell investors to short it or not hold the shares to be honest. when we look at concerns within the market or within the tech side of things we definitely are more optimistic, i would say, on the software side then we are on the tech, hardware or supply chain side of things. clearly supply chains have been having difficulties the last few months. but typically the more semiconductor names start to underperform. [indiscernible] outside of a name like nvidia which could grow through the concerns we would probably start to lighten up on the chip industries. matt: apple has been the clear underperformer of the whole group. it is only gained about almost 13% year to date and they faced, i guess, the biggest head winds with regar

how do they rank in the world's richest but tesla deserves this valuation and pump, this rally.and he is worth a quarter trillion. >> all the same after 100 million. stuart: you have a story on the nfl launching a campaign to treat gambling addiction. >> $6 million, responsible vetting campaign, three years, 45 million americans say they will bet on nfl games this year. that will be spent on in line game messaging, social media outreach and also it is important to target those that are too young to legally but so what do they do? they go off line instead. that is dangerous. 50% have a gaming gambling issue and also the rise of sports adding, fox bet etc. expansion and more state legalizing sports betting, want to make sure you protect those who don't get too involved. stuart: gamble responsibly like drinking responsibility. smoking pot responsibly. is that coming soon? let's give them a sense of the overall market. put up the dow 30 stocks, the predominance is selling, red is winning out this morning a dow is down, look at that level, 35,400, not that far away from the all-time

tesla. i think it's incredible from so many different levels. amanda: it really is and we could put a pin in the valuationrsation, but the ark of the story is magnificent, in the sense that we could have said that tesla is great and had a novelty car a few years ago but big car companies will surely own the space, but maybe not. speaking of owning spaces, rogers communication's is in some turmoil here. two different men claiming to be chair of the company. two factions of the founding family say they have control of the board. here to untangle this, derek is with us. this is obviously not good for the company today, as evidenced by the stock market reaction. what is the next step in this saga? >> it looks like it is to the courts, where in british columbia they will be trying to get a judge to agree and he's certain to run into a fight against his sisters and mother, also on the board of the company, and the company itself, whose position is that the board hasn't changed and you can't change the board without a proper shareholder meeting. so, that is i think the most likely next venue of battle. matt: the

couple of years where we really start to see if all goes as planned for tesla, their production moving higher deirdra? >> so, phil, valuationde, what do you think is the number one issue that bears takes issue with, i suppose? i mean this quarter was certainly a good one and i keep going back to the idea that tesla has dealt with this supply issue, better than its peers, specially when it comes to chips. it's been able to reconfigure its own source and resource them, is that not major indication this is at least going to be more than a car company and even so it's a pretty good time to be an ev company? >> oh, i think they'll be more than a car company they made that clear that's the ambition over the next decade. let's just take the next decade as a time frame there. whether you look at autonomous vehicles, full self driving, software as a service revenue, autonomous ride sharing, potentially by the end of the decade, a number of areas where they can grow revenue and grow profitability over the next several years. so, you're right that this is more than just an automaker at this point and with regards to the chip and the s

world's largest car market and also a main reason why you know tesla's trading at $800 valuation, becausegot it, susan. senator marsha blackburn, watch this. >> did facebook though about content on its platform used to recruit women into forced slavery, and why did you not remove it until apple threatened to drop facebook from the app store? >> i don't agree with that characterization of what occurred -- >> this is your, your company's reporting. you knew it was there. but you didn't do anything about it. stuart: strong stuff from senator marsha blackburn, republican from the great state of tennessee, joins us now. senator, do you have any sense of what facebook could do in the face of the pressure that you're putting on them? what could they do? >> what they could do is begin to tell the truth. and because of a whistleblower, we now have hundreds and hundreds of pages of documents and survey after survey and research after research that they have conducted, stuart, and it shows first of all they're in violation of the children's online privacy protection act. and secondly, it shows that

tesla and a target of 250. craig, i'm not going to give you a hard time because i love this line the market valuation apires to ion that the hundreds of evs slaeted to launch by 2025 will be flops tesla does not operate in a vacuum >> it will happen over the next few years. they're executing impeccably but the market valuation is a distortion they're going to produce less than a million vehicles this year and they're valued at more than the rest of the industry. so, does tesla deserve a 75 x premium? my answer is categorically no. you look at what happened yesterday. they had a fantastic contract. 100,000 cars from a major rental company. that's a big deal. $4.2 billion contract. but it added $114 billion to the mark cap you know, if ford or general motors announces something similar, and they both do a lot of work with the rental houses globally, is that going to have an impact on their market cap? no there's a massive distortion >> if that's all true, and i see your point about fleets, why didn't hertz announce a deal with ford or gm for the models to come? >> they need to get out there and take the market sh

play the momentum but you gotta have an exit price mapped out because tesla, for years, has had no correlation to any reasonable valuatione was a gamma squeeze combined with some fantastic news for them, and the stock just exploded. if you're a longer term investor i'd wait for bad news to come out which kind of happens with kind of the national transportation board, investigations of the company, elon musk propensity to over promise and under deliver so if you want to be a long term investor you wait to get in. i think if you're a trader you could make fast money. charles: it's so interesting with all of that and that's sort of been the back drop for the last half dozen years it's a $1 trillion stock and elon musk is by far now the richest person on the planet and you know, scott what it reminds me of is i was thinking about all of the people who stepped out of the stock over the years, and i think are there stocks that you have regardless of how volatile they are, no matter what you plan to hold, you're going to not let volatility get you out of this stock, because i'm pretty sure i've been stopped at a tesla in the pa

plot. tesla has now entered and exclusive tier of us businesses. as the evie giant has surpassed a $1000000.00 valuation will bring you the latest. what push the auto make? the auto company rather pass that mark. and later microsoft says hackers have been attacking critical eye teeth applied to lead to the bottom. what's happening and what effect it may have a lot to get to. let's get started. we leave the program with the latest from the federal reserve as the country awaits next week's policy meeting. jeremy jerome paul is indicating that we will finally get the official announcement of plans to start tapering. bond purchases that figure $120000000000.00 per month is expected to drop by $15000000000.00 a month until it is phased out of june in june of next year. but while power says he believes that it is time to taper. he said he doesn't think it's time to raises ultra low interest rates just yet. he has also joined treasury secretary, janet yellen, in defending the feds policies while admitting that inflation isn't quite as transitory as they have been claiming it would be for the last year. so what

valuation base? filippo: i think, to some extent, some good franchises are very true. i would say, and teslaso in the u.k.. the topics, they may be lighting. -- lagging. i would expect it more obviously in america because they are behind. capital returns also increase. last week there was some news that there was a payout rate -- of the earnings. this is it across the banks, because they can. they're still a bit to do in terms of lagging. dani: of course, we have the ecb allowing banks to start to return that capital, payout dividends. given that there is some unevenness to when banks are signed to return to shareholders , how do you want to play that, and are there certain regions, what are the names of banks that you want to capture that shareholder payout returned to them what you want to avoid? filippo: as we look at the provision for profitability. there are some good franchises. across the credit cycle, those banks remain profitable. it is a key feature because i see the ecb more and more are focusing on the profitability of the banks. i'm asking a difficult question to the manager, wh

no, tesla becoming the sixth company in u.s. history to reach a 13 figure valuation. 13 figures. the deal that put it over the edge. >> i can't even count to 13, let alone a trillion. >>> a new plan by democrats perhaps to slide immigration reform into the spending bill. how realistic is this? stay with us. the new sensodyne repair and protect with deep repair has the science to show that the toothpaste goes deep inside the exposed dentin to help repair sensitive teeteth. my patients are able to have that quality of f life back. i recommend sensodyne repairir and protect with deep repair. ♪ your new pharmacy is here. to make sure you don't run out of meds here. and with amazon prime, get refills and free two-day shipping. who knew it could be this easy? your new pharmacy is amazon pharmacy. ♪ say it's all right ♪ ♪ say it's all right, it's all right ♪ ♪ have a good time 'cause it's all right ♪ ♪ now listen to the beat ♪ ♪ kinda pat your feet ♪ ♪ it's all right ♪ ♪ have a good time 'cause it's all right ♪ ♪ oh, it's all right ♪ as someone who resembles someone else, i appreciate t

tesla, will lift elon musk 2 trillion air status. spacex makes up less than 17% of musk's net worth. morgan stanley has a $200 billion valuation it. adam jonas points to its infrastructure and exploration, among other capabilities. global news 24 hours a day on air and on bloomberg quicktake powered by more than 2700 journalists and analysts in over 120 countries. i am vonnie quinn. yvonne: cryptocurrencies were among the main talking points. there were several high-profile attendees. >> i think 70% of the coins out there today are garbage and will go away. just like the internet bubble, which of the companies survive? >> my son and i lived together during the pandemic, and he gave me a lecture every day on the fact that i had opined about bitcoin without knowing what i was talking about, which is true. >> i can't tell you it is a value, but i won't tell you you should short it. it is likely to be higher. >> you have to push out the risk curve and go further afield into new things or all the things. >> if you want to belong cryptocurrency, now is not a time to get long. rishaad: we were approaching 65000 and one point, which w

and in terms of the valuation, tyler, i mean, that's the big conundrum not only for investors, but for analysts as well if you are an investor and you are bullish on tesla, you do not look at this company as simply an automaker you look at it as an energy play w energy storage, with solar whether it is also a company that down the road, you know, does it continue to grow in terms of autonomous vehicle technology that's the great idea here if you believe in that, full self driving technology -- there are people who pay a subscription for full self driving technology even though these vehicles are not autonomous the idea that they are autonomous, that is the hope down the road. if they are, and if you find swrb who is willing to pay that on a monthly basis you say this is it, this is everything i need for the future that's where you look at the revenues potentially growing incredible amounts that is the idea behind saying i think this stock can go far higher adam jonah saying it will go to 1200 he's not valuing this company as a traditional automaker. he sees it as far more. >> look at what is happening with hertz today they came out of bankruptcy in june

side, well, the fundamentals have a valuation perspective have definitely been there for the last eight years you definitely had the returns that you have had in a tesla, but i think most traders would call it late to the trade here that a lot of the easy money has been made. >> right >> i don't agree at all. i think they're wrong. i think short term, yeah, the sector looks a little bit over bought right now it looks like it could possibly take a little bit of a pause, but longer term we are very bullish on the entire sector, specifically emp why are we long-term bullish right now these companies are being priced at a 40% discount so the forward 12-month strip pricing which is $74 give or take a few dollars in 2022 >> right >> meaning their pricing oil as if it is $45 >> right >> i don't think any of us here really on the show, you know, would expect oil to be close to $45 moving forward, especially when you are considering the environment right now where you have substantial shortages as well as prolonged underinvestment in the space, you know, regarding new projects in development >> right >> so we're big on energy, so let's go, texas tea. >> maybe

tesla. he says fundamentals are not attached to reality when it comes to the stock price, and you cannot say just because it is a disruptor it is worth sky high valuationsh other things that cathie wood and momentum investors like. bitcoin -- he says he does not invest in things he does not understand, but bitcoin does not act as a source of money would. it is not a reliable store of value. it is very expensive. he says there is a good chance it is a bubble, and it will disappoint long-term holders, but he says he would not bet the farm on that because of the volatility in the crypto space. anna: a good chance regulators are coming for crypto at some point. dani burger bringing the highlights of that interesting interview. tom: coming, u.s. futures as investors look for inflationary pressures from u.s. and china. we will get the latest with our mliv strategist, ven ram. this is bloomberg. ♪ anna: welcome back to the european market open. 53 minutes into a positive trading equity markets, moving to the upside. joining us now is ven ram. we see stocks heading higher, and pushing up valuations. the u.s. stock market is now worth more than the combined econ

valuation >>> jim cramer, named three other names. to find out go to the website or point your phone to the qr code. >>> we are watching shares of teslaing gets underway but first a message from our own bertha coombs. >> we moved to the u.s. when i was 4. my dad felt that we just couldn't make a life in cuba came here for greater opportunity. that's something that has been engrained in me. you need to take risks and explore the unknown to really get that payoff in your life and career i've spent centuries evolving with the world. that's the nature of being the economy. observing investors choose assets to balance risk and reward. with one element securing portfolios, time after time. gold. agile and liquid. a proven protector. an ever-evolving enabler of bold decisions. an asset more relevant than ever before. gold. your strategic advantage. you booked a cozy vrbo mountain cabin. with a kitchen where everyone can chef. but the thing they'll remember forever? watching the game together once again. the time for getting back together is now. find it on vrbo. wealth is your first big investment. the time for getting back together is now.

tesla on the strength of an order by hertz for 100,000 model cs. now passed the trillion dollar market valuationn earnings seasons. troubling things out there that the market is defying on the climb to the top. we'll see if it lasts. >> sandra: john, great to be with you. i'm sandra smith. >> john: and i'm john roberts in washington. "the story" with martha starts right now. >> martha: thanks very much, john and sandra. good afternoon. i'm martha maccallum in new york city. here's "the story." look at these numbers. the president is down 21 points since june. that is an unprecedented slide since world war ii. that's a gallop number. he's on the road right now scrambling to get this administration, get his presidency back on track and to see if he can have a positive impact on two very big upcontinuing races. he's on his way back to new jersey where a solid lead by the current

has hit $100 billion valuation after a secondary share sale and i wonder whether or not you think in some time he turns his attentionto starlink and space and the falcon and turns teslaion over to a real operator. >> possibly. that's exactly what he did with spacex gwen does an amazing job running spacex and i reported on spacex and tesla and what i was told there are rules about elon musk about not being able to hire and fire people inside spacex because everybody realizes guan is the operator. if he did the same thing with tesla, it would be amazing i'm not saying he hasn't done amazing things, i'm saying when you're trying to figure out what the future looks like, it's wonderful to believe particularly in an environment where we haven't had a recession in so long that it seems like we're living in a fantasy land right now. but at some point just like rockets, everything comes down to earth >> yeah. >> i'm not certain that elon musk is the guy who's ten years from now we'll look back and say, actually -- >> self landing and reusable rockets. >> trats true. that's true. they had a lot of explosions along the way. my guess is that tesla will have some gravel in the r

valuations are attractive. we also don't want to forget about international equities either >> let's get to tesla's numbers, whichen bouncing around, and it's now fractionally higher phil lebeau explains why >> wolf, we knew they would be strong numbers given tesla's deliveries, and the company beats on both the top and bottom line, earning $1.86 for the third quarter. the estimate was for $1.59 and those estimates were coming up over the last week. revenues stronger than expected at $13.76 billion. and here's the thing that's going to get a lot of attention. those zero emission vehicle credits that they get for credits, most were expecting it to be in the range of 24.6, maybe 24.7%. came in at 28.8% i have not checked if that is an all-time record for tesla, but those are really strong automotive gross margins we're going to dive back through the results. and don't forget we get the tesla conference call at 5:30. will elon musk be on it? that's one of the questions people are wondering about guys, back to you. >> phil lebeau, thanks so much for that as you said, the consensus for that margin closer to about 25%.

. $100 billion valuation for spacex up from the $75 billion in february. and by the way, you know, teslaw you what's happening with amc. i don't know if you're going to watch the new james bond movie this weekend, no time to die. are are you? ashley: ill like to, but i'm not sure i will. >> oh, come on, i'll even buy the popcorn. [laughter] unconventional from amc's ceo, and he's really trash talking the shorts. take a look at this tweet. some of you have suggest that as ceo of ahc theaters i've -- amc theaters i've been playing chess. james bond's no time to die opens in the u.s., it plays more like amc is playing three-dimensional chess, and i say it out loud, hashtag choke on that. not exactly conventional, right? [laughter] ashley: i love it. >> yeah. okay, also want to show you some upgrades. the hydrogen fuel cell maker, barclays calls it call weight weight with $27, here's where we are, and oatly, is it milk, oat milk? jpmorgan upgrading it, worth $21. the stock is down around 50% from the june peaks. ashley: whatever it is, just don't choke on it. susan is, thank you very much is

is the future of our country and tesla has the first move, their vehicles are ahead of the competition but we are talking with a company that has a $1 trillion valuationll pick up market share and it is more difficult to stay on top once you are there and that is the issue right now with tesla. how long can they stay? >> how about billionaires tax i feel strongly about it. what do you think about it? >> it is a big lie the dems are telling the american people and hoping middle america is dumb enough to take it at face value without digging deeper and doing their homework but it reeks of desperation. they want to fund the green new deal package and can you imagine us running our household like this, i stood by a brand-new tesla but can't afford it so i will rob peter to pay paul. people don't manage their houses like that. stuart: on the outside, i am looking at this mad scramble to get a deal, any kind of deal, some kind of deal, get it on the books so the president can go to europe. that brings us into disrepute all the time. people are going to laugh at it. >> as i said, as you look at how the government spends and manages their finances the easiest

valuation is materially lower i think it's egregiously overvalued the sum of the rest out automotive sector is pretending nobody else will be successful and reality is general motors did an end run around teslamotors will be buying a key component in the drive train for roughly half of what tesla is sourcing them on semi roughly half the cost per unit reason is wolfspeed is producing on 8-inch wafer just the others produce on 6-inch wafer. they're sketching out plans right now so tesla is not leading in everything. tesla has done a phenomenal job and a great company but i see it as overvalued and plenty of opportunities elsewhere to make great money in the growth of electric vehicles. >> sounds like you need to go from neutral to underweight based on all the things you are saying maybe come back when you made that recommendation change if you do good to see you. >>> after the break the energy rally gets more fuel a firm looks for winners osthe stories and many more when we go inside the market zone that's next. the pursuit is on. the pursuit of outperformance at pgim. with deep expertise to outthink across multiple asset classes, actively managing investments in the world's public and privat

tesla boosting his net worth. look at spacex. the starlink internet satellites that beam internet across the world. reusable rockets. all the trips to space will double spacex's valuationillion dollars. stuart: but they're not public yet. spacex is not public. part of the overall musk operation. lauren: it is only 17% of musk's worth right now so. stuart: the world's first trillionaire? please. lauren: wow. stuart: had to be elon musk. lauren: of all people. it would be fun to if he get it, what he would do with it. stuart: jen psaki makes a joke addressing concerns over the supply chain crisis. martha maccallum takes that on in the 11:00 hour. senator ted cruz says it is time for democrats to the face the disaster of the their open border policies. watch this. >> my bill designates newports of entry, rich democrats can be sitting there, see, suddenly, 10, 20, 30, 50,000 illegal immigrants like we're seeing on a daily basis. stuart: he wants to send the migrants to palo alto or martha's vineyard. florida congressman greg stuebe is on the show. i will ask him what he thinks of senator cruz's proposal. i'm sure he will be in favor. we'll be right back. nolt ♪ i promise -

filed an $80 billion valuation which has a lot of people scratching their heads given that they lost about a billion dollars in the first half of 2021. i think that's the teslaofty levels, it brings along the other electric plays. stuart: it's riveon -- >> the electric truckmaker which amazon has backed and has orders for thousands, tens of thousands really. stuart: the price tag -- >> $80 billion. yes, that's right. not many sales. [laughter] stuart: we don't talk about the chemical people very much, but we've got a story this morning on dupont. jpmorgan says they're going straight up. >> value because it's underperform. it's cheap, according to them. by the way, speaking of chemical makers and probably -- [laughter] more staled stocks or -- staid stocks, downgraded to neutral. stuart: i've gotten used to the whole world of amazon, microsoft and google. >> yeah, it's so nuvo and modern. stuart: these old companies, you just don't talk about them. >> by the way, did you know that william shatner is confirmed to be going up in blue origin? stuart: the guy from star trek? seriously, the man is, what, 8ing 4, 85 years old, he's the original captain kirk. he goe