tesla is the pioneer of the easy category-— tesla is the pioneer of the easy category. cateuo . easy category. tesla opened the facto in easy category. tesla opened the factory in shanghai _ easy category. tesla opened the factory in shanghai in _ easy category. tesla opened the factory in shanghai in 2020. - factory in shanghai in 2020. launched the model three. the rise of evs is not coincidental, just triggered the retail consumer interest in new energy vehicles and that is benefiting notjust tesla but all the chinese companies that followed. , . . followed. this electric car maker is _ followed. this electric car maker is tesla _ followed. this electric car maker is tesla 's - followed. this electric car maker is tesla 's top - maker is tesla �*stop competition in china and it is tapping into growing markets like here in southeast asia. but byd has to work to keep the top post was facing stiff competition from domestic tv makers that are close. in its rearview mirror. rivals are wrapping up their production in overseas markets. in some places like singapore, the cha

for tesla.on the pricing we've seen with tesla throughout the year, this steady strategy of reducing the price per vehicle, do we have a sense on whether that will continue to the end of the year? ed: elon musk has been consistent they are willing to sacrifice the bottom line in order to protect unit growth. profits to be sacrificed at 50% annual you're on year and retracing guidance was important today. they have to do 475,000 and it's in the final three months but they seem confident they will do it area what's more, it's made their competition follow suit. based on a past track record, is likely they will continue that way. jon: thank you for the breakdown. coming up, jamie dimon's take on the fed interest rate, this is bloomberg. ♪ that first time you take a step back. i made that. with your very own online store. i sold that. and you can manage it all in one place. i built this. and it was easy, with a partner that puts you first. godaddy. you got this. let's go. gobble gobble. i've seen bi

i think tesla is a capable ship. we need to make sure if the macroeconomics conditions are stormy and even the best ship will still have tough times. the weaker ships will sink. we're not going to sink. you know, even a great ship in a storm has challenges. >> we'll talk more about tesla later in the show. we will stick with earnings and turn to the big money movers. netflix shares are surging ahead of the open after the beat and the streaming giant is hiking prices. tech report arjun kharpal is joining me from london. arjun, great to have you here. >> reporter: frank, the revenue coming in for the third quarter for netflix at $8.54 billion against the bigger than what the market expected. eps at $3.73 per share. bigger than $3.49. the big number is the net subscriber adds. much higher than the 5.49 million the market expected. investors were bearish going into the report. can the company continue to show strong growth to justify valuation? for netflix, yes, it gave the investors what it wanted. the 6$6.99 ad support

. >> let's get to tesla. the stock is hovering around the flat line, despite an earnings miss and a big drop in margins. phil lebeau has the details. phil? >> well, it's a little bit higher after hours, despite missing on the top and bottom line, that's because the gross auto margins appear to have come in slightly better than what the street was expecting. let's do the numbers and then the numbers within the numbers that people are really paying attention to. earning 66 cents a share in the third quarter. tesla was shy of expectations of 23 cents a share. revenue light of expectations, but not by a lot. $23.35 billion versus $24 billion. gross author margins expected, came in by most calculations at 17.9%. and then you have adjusted ebit margin, 16%. that's down from 23% a year ago. 7.6% operating margin. it was 17% a year ago. and operating cash flow, $3.34 billion. then there's the question of deliveries. we got some news within the last couple of minutes. when they put out the release, they reaffirmed the

tesla is there biggest customer.he impact on that, we will be watching closely. haidi: we do have more to come here on "daybreak asia". this is bloomberg. ♪ that first time you take a step back. i made that. with your very own online store. i sold that. and you can manage it all in one place. i built this. and it was easy, with a partner that puts you first. godaddy. shery: you're watching "daybreak asia". morgan saw its worst one-day drop since june 2020 after releasing its third-quarter earnings. vonnie quinn joins us now with the latest. where did morgan stanley see the most damage? vonnie: almost 7% drop. we should mention that it actually beat the average analyst estimate, but many, many units suffer declines. for example, wealth management, that was down the fewest inflows since the pandemic in that particular unit and that's the unit james gorman really highlighted as the unit and post about and bragged about. investment revenue was down 20%. equity underwriting slumped. we had deals that they did not even get

i think tesla is an incredibly capable ship.e need to make sure if the macroeconomics conditions are stormy, even the best ship will have tough times, the weaker ships will sink. we're not going to sink. even a great ship in a storm has challenges. >> john blank joins us now to talk through tesla earnings. john, thanks for being with us this morning. we just had elon musk there with a warning of the impact on high rates for the demand for tesla cars. i wonder to what extent the softening demand for tesla is down to the macro environment over increased comepetition fro peers? >> it's a great question. i think the answer is more or less what elon musk was referring to which is a weak macro economy environment. it is very difficult to make a decision on a car other than a monthly payment and monthly payments are driven on a f five-year loan which is about 5% or 6% now. that puts auto payments much higher. that is the pushback with the price cuts. if you factor in the interest rates, they are flat from the monthly payment perspectiv

i was looking at tesla that has its own issues. how do you approach this number now coming into "overtime" tonight? >> i think alex hit the nail on the head. i think the numbers will be relatively in line. i think subs around 6 million. they'll probably likely be around $8.5 billion worth of revenue. yes, clearly all the discussion around password sharing and the ad-supported tier we heard from them. the media conference is where you start to see the pullback when they talked about those numbers will likely be muted in this upcoming print. there's concern for me but i do think the password sharing is 100 million users they can potentially monetize going forward. the ad-supported tier, the rollout is taking longer than expected. in the coming quarter you can see growth. i think their opportunity is really internationally. that's where the membership is growing at close to 90%. i think that's where the opportunity is for netflix. >> so, dan ives, speaking of growth as it relates to tesla, which has had its own issues from a stock sta

what if the uaw tries to unionize tesla? we'll discuss that next. plus, the ten-year yield rising to new highs we haven't seen back in 2007. how much higher can it go, and what will the impact be on equities? today is the perfect day to discuss it because rick santelli is in the house. >> looking forward to that. let's get a check of the market, just off session lows. really turned lower. dow down half a percent right now. similar for the s&p. nasdaq is up 19 points and the russell 2000 are the worst performer. tyler mentioned the rising yields, especially hurting the utilities today of the one place investors go and it's pressuring the business model. its year-to-date drop is down to a 21% decline. poster child seems to be nextera getting hammered losing a quarter of its value in a week. there's nextera partners, both nep and nee are under pressure today. >> we start today with tesla which traded down initially after reporting delivery numbers, but the stock is flat right now. let's go to phil lebeau for the details. hi, phil. >> reporter: tyler, n

tesla shares are sliding.ns about high rates hitting the consumer and tfls music to the ears of our next guest who says it broadly supports his bear thesis. joining us now is john, google securities export, he has a -- guggenheim security expert. john, welcome, good to have you with us. it sounded not only was elon musk concerned about interest rates and that, but he was very concerned about affordability of his cars and losing market share as a result of their priceyness. >> yeah. it's a very real problem globally. if you think about interest rates and the price point of tesla vehicles, the average payment on a tesla vehicle right now is north of $800 a month on a model y. the percentage of u.s. households that can afford a payment like that, there is a good study by cox automotive, suggests it's some the 10 to 15% of u.s. households have enough income to afford that. that's based on the ability to afford a monthly payment let alone the cash balances and things like that. >> i agree. i think more people buy t

why isn't tesla next? why doesn't -- you know, you are seeing basically a nationalization that is pushing you know, byd and all of these china ev players. why won't they say we are going to charge an extra charge on tesla -- >> joe, when you said the price momentum was so positive with tesla go into the number. >> it was. >> i would say price momentum means nothing if the fundamentals around the story change. the reason why the stock turned lower, the report called into question serious issues. appearing has a negative momentum. >> so i guess -- i guess you are in jimmy lebenthal's camp last week where he said we don't look at charts. i am a big believer that momentum within the market does matter. >> it does until it doesn't. tesla went down 15% in a week. the momentum it had go into the number today is irrelevant. down 15% in a week. >> i acknowledge that, but i don't think that's the case for each and every stock. >> not each and every stock, but that stock is a good example of how fundamentals can trum

steve westly former board member of tesla.aying that he approves win-win development that comes from the chinese ministry. the sales outlook has been under scrutiny. as the u.s. is tightening rules on chipmakers, nvidia said they would build ai facilities together. see how we tied that an one beautiful bowtie. china and the impact on u.s. tech. this is bloomberg technology. ♪ the biggest ideas inspire new ones. 30 years ago, state street created an etf that inspired the world to invest differently. it still does. what can you do with spy? ♪ it's easy to get lost in investment research. introducing j.p. morgan personal advisors. hey david. connect with an advisor to create your personalized plan. let's find the right investments for your goals okay, great. j.p. morgan wealth management. caroline: ask formerly known as twitter is proposing a user's fee in the company says the measure has the potential to reduce spam. this is all of course and elon musk called it one million -- one dollar a year. ed: when they first introduced su

they said tesla was the pioneer of the category. the category. in shanghai, they launched _ of the category. in shanghai, they launched the _ of the category. in shanghai, they launched the model- of the category. in shanghai, i they launched the model three and the — they launched the model three and the rise of this did not become _ and the rise of this did not become coincidental, this triggered the consumer interest in the _ triggered the consumer interest in the vehicle is notjust tesla _ in the vehicle is notjust tesla but all the chinese companies have followed suit. this is— companies have followed suit. this is the top competition in china and it's tapping into growing markets like ends in the stashe. but they have to work hard to keep that top post in the face of stiff competition from domestic makers that are close. in its rear—view mirror. rivals that are also working on their overseas market. in some places like singapore, the infrastructure is playing catch up infrastructure is playing catch up with demand. they said t

magnificent tesla.t the stocks and the actual index. much more mad money. snap on. 50% for the investors having it an opportunity after returning a very strong report. a little bit from chevron any $53 billion deal with a more consolidated industry. where do i come down on the deal? i will give you a take during this week's rapid fire and the lightning round. stay with. (fisher investments) it's easy to think that all money managers are pretty much the same, but at fisher investments we're clearly different. (other money manager) different how? you sell high commission investment products, right? (fisher investments) nope. fisher avoids them. (other money manager) well, you must earn commissions on trades. (fisher investments) never at fisher. (other money manager) ok, then you probably sneak in some hidden and layered fees. (fisher investments) no. we structure our fees so we do better when our clients do better. that might be why most of our clients come from other money managers. at fisher investment

we got to netflix, tesla, and now the big guys next week.his is bloomberg. ♪ it's easy to get lost in investment research. introducing j.p. morgan personal advisors. hey david. connect with an advisor to create your personalized plan. let's find the right investments for your goals okay, great. j.p. morgan wealth management. is it possible to fall in love with your home... ...before you even step inside? ♪ discover the magnolia home james hardie collection. available now in siding colors, styles and textures. curated by joanna gaines. alix: it is 22 past 7:00 on the west coast. top tech stories from the bare area and beyond. silicon valley starts its morning. joining us is "bloomberg technology" cohost ed ludlow. i'm trying to think of something clever, clouds over san francisco, clouds over big tech . ed: it is a weird situation because we go into this quarters earnings with everyone pinning their hopes on big cap hit we did this column last week that if you look at the five mega caps, the average earnings growth is projected to be 34%, bec

you own tesla. the third quarter is usually the best stock reaction for an earnings report for tesla. this according to bespoke, averaged a one-day gain of 4 2/3 percent on its 13 day earnings. no other quarter has seen similar gains. so it's the first of the mega caps really to get out of the gates. what's riding on it? >> i think, first of all, the options market says we're going to get a plus or minus 6.5% move. i think a little bit higher than what bespoke was saying we've seen in the past, higher volatility one way. i think people will come in on what are margins, and are we at a trough in margins, which we won't know until the future, right? they can say we're at a trough in margins. i think we want to hear about what they're doing on the ai front. tesla has been pivoting away -- actually tesla has been focusing on taking all the videos from all the tesla drivers using full self-driving, putting that up into their ai model to help the full self-driving functionality work better. they've been h

the latest on the uaw's deal with gm, and the electric slide in tesla buckle up.re driving straight into those trades ahead you're watching "fast money," live from the nasdaq market site in times square. we're back right after this. travis, did you know you can get this season's covid-19 shot when you get your flu shot? huh. two things at once. two things at once! ♪ two things at once. i'll have the... ...two things at once, please. now back to two things at once. ♪ two things at once. that's not two things at once. moooom! travis? ask about getting this season's covid-19 shot when getting your flu shot. >>> welcome back to "fast money. roller coaster ride for sofi today. shares rallying nearly 15% this morning, but then retreated to close the day just 1% higher the fintech company raised its full-year outlook and adjusted earnings, saying it expects to post a profit in the kwourt quarter. then, in the conference call, the ceo said the company is still losing quite a bit of money on its credit card offering and investment. dan what do you make of this one? >> last

tesla dropping 9% today. a pessimistic elon musk calling out high production costs, rising interest rates, and the slowing economy on the conference call last night. ring the bell -- a noted tesla bull and our own tesla bear ready to drop the gloves on where the stock is headed next. >> i had no idea he was bearish on tesla. >> i'm melissa lee coming to you live from studio b at the nasdaq. we start off with jerome powell's pivotal speech here at the new york economic club. the fed chair hinted he's ready to pause rate hikes for now, saying the committee is proceeding carefully. but at the same time, powell also kept the door open for a move in december and beyond. and he added that while recent inflation data has cooled, still too high. stocks seem to mostly shrug off the chairman's comments, but they couldn't shake off the move in yields. the ten-year came within a hair, a whisper of 5% late in the day, and that triggered a slide into the close. the dow falling 250 points, while the s&p and nasdaq dropped n

this electric car maker is tesla's. has to work hard to keep that post. it faces stiff competition from domestic ev makers that are close... in its rear view mirror. rivals like er and exponent are also revving up their production in overseas markets. but in some places like singapore, the charging infrastructure is playing catch up with demand. as they are a limited number of fast charging stations has been a concern for some drivers, which is why evs make up a small action of their fleet. want them to park the vehicle for hours and waiting for the recharge, for them, every hour is money. recharge, for them, every hour is money-— is money. for taxi drivers like johnson. _ is money. for taxi drivers like johnson. it — is money. for taxi drivers like johnson. it is— is money. for taxi drivers like johnson, it is an _ is money. for taxi drivers like johnson, it is an attractive - johnson, it is an attractive solution, especially as the rising cost of living is caused bumps in the road. monica miller, bbc news, singapore.

what's the reason for tesla? . he has three great goals coming out of the bookstore, not as well lit as politics and prose, and the sci-fi section. he had three great missions in life especially in college he focuses on. one, making us a space-faring civilization and two is sustainable energy, basically batteries, solar roofs, power packs and of course, electric vehicles. at this time in the early 2000's ford, general motors, everybody's gotten out of the electric vehicle, they're crushing the chevy bolt because they want to get rid of it and he's saying no, we've got to do it and the third one we can get to later, he reads a robot series and says we have to have safe artificial intelligence otherwise our robots will return upon us, these are not things i worried in growing up in new orleans, not causing my palms to sweat. >> the book is, among other things, something of an industrial engineering handbook and you think it sounds dull. it's anything but. he reengineers how we build rockets, but more significantly pe

tesla and netflix seeing gains.ne of these magnificent seven top stocks members right we have seen profits missing estimates but gross margin roughly in-line with expectations but really it was the news about the cyber truck delivery scheduled for the end of november from that texas gigafactory that dominated headlines, and spoke about a lie it has doubled the size of its ai training accommodating for the growing data set in its optimist robot project and the shanghai factory update running at full capacity for several quarters despite not expecting an immediate increase in the run rate, so still upside although that has been given back at the moment in the after our session. netflix was the other story raising prices for some customers in markets such as the u.s. u.k. in france and the best quarter for subscriber growth in years, so quite a turn of confidence being struck when it comes to those netflix numbers. that's get more and bring in our senior analyst for bloomberg intelligence. great to have you with the sp

what's the reason for tesla? he had three great goals coming out of that corner of the bookstore, which was not as well led as politics and prose. and it was sort of dark thing. and he would read the sci fi sections he had three great missions in life that he especially in college, he focuses on. one is making a subspace ferrying civilization to a sustainable energy. basically batteries, solar roofs, power packs and of course electric vehicles. at this point in the early 2004 general motors, everybody gotten out of the electric vehicle. they're crushing this every bolt because they want to just get rid of it. and he's saying, no, we've got to do it. and the third one, which you can get to later, is he reads isaac asimov's robot series and he says, we have to have safe artificial intelligence, otherwise our robots will turn upon us. these are not the things i worried about in college and growing up in new orleans, not causing my palms to sweat. but okay, so the book is, among other things, something of an industri

in other news, tesla sa s permanent. in other news, tesla says federal _ permanent. permanent. in other news, tesla says federal prosecutors have . says federal prosecutors have expanded their investigations into the company beyond its automated driving systems. in january, the company disclosed that the justice department was looking into its self driving teachers without giving more details. tesla says officials haveissued details. tesla says officials have issued subpoenas for information about other aspects like personal benefits and personnel decisions. they're nasty, creepy and probably — bedbugs. and they are making a comeback in france. these critters can travel in the seams and folds of our close or bags before finding a home on beds. hotels, transport companies and governments have been scratching their heads about how to tackle this problem. dougal shaw went to find out about some technology operate in the uk and how they can help. these bedbugs don't know it yet, but they're walking into a trap. this divides contains a pheromone that attracts them and it'

they are raising prices appeared tesla on the other hand is down. tesla down 14%.y on both of these stocks into the earnings report not disappointing. we have that kind of volatility. tesla, there's an issue in terms of missing profits by 10% and markets weak. rising rates really incredibly high. the two year yield at a 522. you have the two year yield and the 20 year yield above the two year yield. you have the flattening yield curve that folks are trying to make sense of. it doesn't mean a recession is on the way? while -- does it mean a recession is on the way? the s&p 500 well off of its july high. in blue, this is the volatility on the longer bond etf. years the volatility on the etf sp y. guy: i find it absolutely amazing. it was interesting to hear what they move index would be signaling if the vix was as elevated as the move. that would be an amazing number. let's talk about what is happening in the housing market and the real estate market. basically, what you have got here is a lot of people are -- they locked in a few years ago. the market is effectively

tesla, 435,000 ev's delivered in the quarter.owntime for factors as they root tool -- as they retool. that impacted some of their production figures but deliveries missed estimates. rivian beat expectations from production and deliveries but maintain guidance at 52,000 units for 2023. some are saying you can do better than that. maybe there is hope they would update their guidance. we started this week much like how we ended last week and thinking about antitrust and the make a cap tech names. the news we will get into shortly is that microsoft see eo is on the stand in the google antitrust trial the government has put focus on search. we will bring you details later in the program. caroline: we have to look at what it means for market that's been so under pressure. that stock was off 5.8% this past month. what does october bring? danny fisher is with us. we have these headwinds pointing out the regulatory headwind but will there be a buying opportunity to technologies for october? >> it's hard to tell on a month-to-month basis.

so is there any bull case on tesla? there is absolutely a bull case on tesla. so when musk says higher interest rates, higher interest rates, weak, weak consumer, when musk talks about that, well, if all autos are getting hit by that and tesla's getting hit by it to some degree, then maybe that 8% growth in a couple of years in a year might be like double digits. and if that's the case, then tesla's not really getting crushed by competition. and that is going to be something that the bulls hang their hats on. gotcha. all right. so, andrew, we have the average investor daily being told to go into alternative investments, but you are actually getting evidence that maybe they shouldn't do that. why? well, no group of investors has embraced alternatives more than university endowments. at harvard, for instance, they have about 70% of their investments in alts and only about 10% in regular stocks. returns have been mediocre. harvard just reported its results for the latest fiscal year ended in june. so did yale, up about 2% versus about 20% for the s&p 500. way behi

tesla has its worst week of the year on wall street. this is bloomberg. ♪ (sfx: stone wheel crafting) ♪ the biggest ideas inspire new ones. 30 years ago, state street created an etf that inspired the world to invest differently. it still does. what can you do with spy? ♪ jon: this is bloomberg markets. i am jon erlichman with matt miller. time for our stock of the hour segment. you were talking about auto names like gm as we await more details on what uaw will think. it is such a busy week for auto related stocks. we have seen tesla shareholders witnessing their worst week of the year. we have concerns about the margins and now elon musk with a somewhat conservative outlook we shared. and then you have china continuing curve graphite exports which is a key component with electric vehicle batteries to the u.s. china tensions are front and center. so that is opening the front door to the ev market. that is what is happening in detroit. matt: the most interesting thing so far this week has been the tesla analyst call in which elon musk sai

ed: tesla is the single name stories of the week. we will go deeper later in the week with our reporter but you can see the drop clear as day following earnings, thursday was the biggest drop since early july but in aggregate on five days, tesla is on track for its worst week of the year. a lot of refocus on the growth narrative. elon musk talking about rates. we will bring you details. the earnings story will continue into next week because we have most of the mega caps reporting next week. if you think about the big five names, four of which are on this board, earnings on average are forecasted to grow 34% year on year at a time when the s&p 500 overruled -- overall is forecasted to have flatter earnings growth. a lot of hope end on these big tech names but you then go back to the macro, what is happening in israel/hamas war because that is impacting financial markets broadly and these are some of the biggest points movers to the downside in friday's session. largely driven by israel. caroline: and fresh concerns regarding the conf

tesla among the companies to report.o key up the numbers to watch from the ev maker. >>> and let's make a deal. microsoft hooking to team up with an unlikely partner in the cloud. it's wednesday, october 18th, 2023. you're watching "worldwide exchange" right here on cnbc. ♪ >>> welcome back to "worldwide exchange." i'm frank holland set to start your day as always. with take a look at u.s. stock futures. take a look. you can see they're in the red across the board. the dow taking a leg lower looking like it would open at 65 points lower at this hour. we say it's early. we're keeping a close eye on the nasdaq 100 that's also in the red and the chip stocks on about the back of u.s. restrictions on the exports to china. take a look at the broader chip sector. we're seeing laggards, i apologize. nvidia down. also seeing astrazeneca down 2%. asml down 1.5% broadly, in the red across the board. taiwan semi, sk hynix and lenovo down. we want to get a check on the bond market. the 2-year note jumping to its highest yield since 2

tesla, that stock is down. at&t, blackstone, american airlines, they are all names that we will be telling you all about. >>> and the ozempic effect. nestle is looking to offset any future sales impact, now dropping products to accompany weight loss drugs. >>> let's begin with tesla. among the biggest s&p laggards in the premarket, the company did post a quarterly miss, including weaker than expected profit margins due to price cuts. cybertruck was in focus. this is elon musk talking about it on last night's earnings call. >> i just want to temper expectations for cybertruck. it's a great product, but financially, it will take, i don't know, a year to 18 months before it is a significant positive capture contributor. >> of course, musk did comment on all kinds of things beyond the company itself. rates, of course. macro, work-from-home, sort of echoing themes he's had before, david. >> i remember during our interview in may, he went on quite a bit about work from home, really criticizing those who were doing it

we know tesla has been shifting their production focus. something to do with why investors seem optimistic? su: yes. the fact they reaffirmed their annual target for shipments. investors really shrugged off this particular number. analysts as well. that is despite the sequential drop in output, which the company says was tied to a summer shutdown for factory upgrades. sl's nrs of shipped vehicles missed estesven though it signaled deliveri would be slowing wn as it retold factors for production of ts model3 sedan and its cyber truck. tesla reaffirmed its 1.8 million deliveries target. it delivered 1.3 targets -- cars so far. tesla's shares were down some 3% premarket on the numbers, but quickly erased ta at one point were up 1.5% before ending, on an up note. again, a lot of investors appeared to be cheered by the fact that demand is healthy for tesla. that's despite a wobbly auto market and some price cuts. citigroup's analysts notes analysts had been cutting their delivery estimates. there was a greater range of outcomes due to this mode

let's go back to tesla. apart from a sharp decline in profit, what else has gone wrong for tesla?k? he was a buzzkill in this quarter because he comes out and says cars just are not affordability -- affordable. interest rates are too high. they keep cutting the price of cars so you can afford a car. their profitability takes a hit when they do that. their mar individuals came -- margins came in at 17.9% from 25% a year ago. he is dialing back expectations for the next big thing. the rolling billboard for tesla, the cyber truck. it's cool, it's weird looking, we've been waiting for this thing for two years. we have a date. they're going to start deliveries november 30th, so it's right around the corner. but then he comes out and says, welsh it's going to take 18 months for it to be profitable, but he even says elon musk says we dug our own grave when it comes to the cyber truck. stuart: that's a buzz withkill. lauren: yes. stuart: his voice was kind of depressing as well. he was not upbeat. the longtime chief executive at costco, he is stepping down january the 1. not affecting the

tesla has a huge advantage. they have a huge advantage on this.costs and are nonunion. elon musk is very -- this is the plan. everyone always of the story with tesla was to wait until there was more competition from other carmakers. here it is and he is cutting prices to a level they cannot sustain. jon: i want to talk about another automaker, the lantus, specifically the jeep brand. you did an excellent piece that gets into the market they have been catering to recently. higher price vehicles are catching on. but may be a risk to their core customer. gabby: i want to be clear that we have seen prices rise dramatically in off the auto industry. if you go back five years, the average price is a 30% increase. but if you compare that to the jeep wrangler which is the heart of the jeep brand, they raise prices 40% on average over this time. i think all cars have gotten more expensive and this is kind of a strategy that started back with sergio marconi was the ceo of fiat chrysler. this environment making small commodity cars with the, competing with k

, typically in their top ten, and first, apple, no tesla what do you think? way they are owning a call on the magnificent five in this fund is they are oepbg the microcap weighted, and microsoft stands at 8% over the overall assets, and they are not equally weighted, and they don't hold tesla, and that is critically to their advantage. i love that they own visa, mastercard and costco, and they all worked well to your point on stock picking. >> recent new moves, bought more amazon boston scientific, they bought into it. you own, don't you and then humana -- you have humana, don't you? >> yes, i do >> what do you think here? >> well, let's get to the context. the fund is so huge. right? it's monstrous why would you invest in magellan they have to make outside bets >> you are paying for these people to activity manage it, like -- >> yeah, it's important from this perspective that they don't have apple i disagree on the importance of tesla. i think it has helped their performance not having it. >> i am not arguing with you, but -- >> yeah, he's making your point.

tesla is sticking to its production target of 1.8 million cars this year.her to do that. there are particular challenges with the cyber truck, the pick—up vehicle due to hit the roads next month. elon musk said on an earnings call, "we dug our own grave with cyber truck," pointing to challenges in ramping up production. tesla says its average revenue per vehicle has fallen by nearly 11% from a year earlier. but also that its energy and service businesses had become a meaningful contributor to the bottom line. bringing in half a billion dollars in profit in this past quarter. tesla's challenges compound other headaches for elon musk, who acquired twitterjust under a year ago. now rebranded as x, it is thought to be worth just a fraction of the purchase price of $411 billion. david waddell, bbc news. here in the uk, �*welsh water�* has admitted illegally spilling untreated sewage at dozens of treatment plants for years. the admission came after the bbc presented the water company with analysis of its own data. welsh water says it is working to tackle the prob

falling sales of teslas.plier for tesla. >>> on the other side of the trade, amazon is coming off the best two-day stretch in one year after the massive post-earnings ro rally. >>> shares of pinterest are popping ahead of the open after beating on the top and bottom line the stock is getting help from bill ready who is staying silent on current ad spending issues that hit google and meta and snap shares of pinterest up over 16%. >>> here is what to watch. home shiller price index and october consumer confidence. we have earnings from caterpillar and amd. and day one of the federal reserve's day one policy decision >>> and looking at futures right now, we see the dow pop looking to open 100 points higher. nasdaq is in the red right now bob pisani has more on the outlook for stocks in november >> after miserable october, set up for november is looking better barring a huge rally on tuesday, october will wbe the third consecutive down month for the sa s&p. stocks are oversold and the bond market is acting like i

then elon musk is having some regrets about tesla's highly anticipated cyber truck and the ev maker's quarter earnings were a big big disappointment. and a warning for investors about following the smart money when it comes to their investments. on the table, ben levisohn, andrew berry and jacob bonnen shine. so, ben, another cloudy friday, another cloudy weekend and that also played out in the markets. why were markets down again this week? >> well, this week's loss was brought to you by the number 5, that's 5% on the 10- year treasury yield. [laughter] the treasury yield's just been going up and up and up, it makes people just say, hey, i don't even put money into stocks, i can just buy bonds. and if that that has hurt stocks, particularly those that have exposure to yields in different ways. big tech stocks, because they have profits out in the future, those get knocked down, the val weighs. -- valuation. solar edge and enphase, those stocks got smacked partially because they have no profits, they're building out these businesses, and it's getting more expensive to do that. so it w

tesla does not do really any marketing. in fact, in some of their silence to the sec and elsewhere, they have mentioned elsewhere that it in part because elon musk is such a public personality and his condo is twitter that they don't really need to do any major advertising. we wanted to tell the story in part as his love affair with twitter to some extent. he has used twitter to express himself makes the joke that people use their hair to express themselves. i don't, clearly but some people may. he uses twitter to express himself. walter isaacson spent the last couple of years with elon musk as his biographer and refers to twitter as his global pride -- playground. he line musk was bullied as a kid growing up in south africa had a tough time. and in some ways, twitter which is a rough and tumble free speech opinionated environment that musk was good at and gained a lot of followers on it and he was good at twitter. he gained a huge following and had more than one million followers. he has used it to make jokes, he's used it

he says tesla is the pioneer of the ev category.hanghai in 2020, launched the model 3. the rise of evs — it's not coincidental that tesla triggered the retail consumer interest in new energy vehicles, and that's benefiting notjust tesla but all the chinese companies that followed them. this electric car maker is tesla's top competition in china and it's tapping into growing markets, like here in southeast asia. but byd has to work hard to keep that top post. it faces stiff competition from domestic ev makers that are close in its rear—view mirror. rivals like nio and xpeng are also revving up their production in overseas markets. but in some places like singapore, the charging infrastructure is playing catch—up with demand. comfortdelgro says that a limited number of fast charging stations has been a concern for some drivers, which is why evs make up a small fraction of their fleet. if you want them to actually park their vehicle for hours and they're waiting for the recharge, it's not practical because for them, every hour actually

for tesla, it was a miss.an ives, friend of the show, nothing to write home about in these numbers. the street will be left wanting more. he does note they are still committed to delivering 1.8 million overall vehicles for 2023. he does see momentum ahead. better days ahead as well is another way he put it for the next year of 2024. >> some of the estimates prior to last week were the 515 range and it got cut. factory down time in shanghai. >> tesla said that in the rel release. they said planned overhauls of the factories, which is something we announced and remain unchanged in the delivery numbers. tesla is down a little bit, maybe that's why we're not seeing a bigger decline there. it is interesting we're seeing a bounce today in apple and nvidia and meta and google and microsoft. that wasn't the story for september. especially with apple. >> tech is the only thing working at the moment with infotech green. fdx gets an upgrade today. susquehanna goes to positive. they go to 315. long-time opportunity they s

nvidia is half of tesla's. tesla being so, do you regret selling it? >> we own it in our specialized funds. we've taken it down everywhere and this is portfolio management, we see nvidia, you might say it's less expensive than tesla, we think the upside surprises on tesla during the next five years, remember, we have five-year investment horizon, substantially more than nvidia's. because most analysts don't believe awe on the us now, as a taxi platform for tesla is going to be pa part of the story, we disagree and with that we see incredible margin expansion. nvidia is already high. tesla's are in the 20s and we think they will scale into the 60s and 70s as autonomous takes on. tesla is the biggest a.i. projects, autonomous project. nvidia has been critical to providing the infrastructure to enable this and so many other things to happen, all praises to nvidia. we think that a lot of people understand how important nvidia is in this ecosystem and they don't understand how, how much each dollar of hardware spent

we were talking so much about tesla. and it comes at the time the big three are on the back foot. >> yeah, it is interesting. i mean, it is a lot of news. the incremental thing actually was -- interesting stellantis actually postponed their appearance or canceled their appearance to ces, which i found interesting talking about uaw, that is in january. and then gm canceled it kcmd wh is supposed to be november 16. so that would suggest maybe this is going longer than people expected. but i don't think that that is happening. both sides have moved closer to each other. the one in for 20 19 was six weeks. we're in week four of this one. i feel like it will be resolved. maybe it goes beyond six weeks. but to go into november and january, i don't see that happening. >> tom, thanks so much. >>> and coming up, three power players, first we'll hear from a prominent israeli tech entrepreneur and the founder of the gps app waze. and then we'll hear from the ceo of dropbox about the role of ai and the future of the cloud business.

tesla, ugly day. other ev stocks too. what's going on here >> yeah.to be in the ev automakers right now, scott. when you look at these shares all under pressure today tesla shares under 200 for the first time since back in may three things driving the stocks lower. first of all, much more cautious commentary over the last couple weeks regarding the demand for evs, it may be slowing down. the growth rate is not going to be as great. on semiconductor coming out saying they see pockets of softness, particularly when it comes to evs panasonic, cutting its battery plow du-- production, what do te supply batteries to? the model s and x. shares of tesla i mentioned we are under 200 for the first time since may. not a good looking chart but not a surprise given what we've seen and the commentary we've seen regarding evs and the demand slowing down. >> no doubt about that appreciate that very much. phil lebeau. mike santoli, i just wonder if something else is at work here headline fidelity right writes its twitter down an x internal note said the company worth

tesla has a pole position.unced they are backing off plans for the light truck production facility. they postponed that by a year. the other automakers are backing off on evs. i think this is the period of great companies have difficulties. i think they will come out. you the will pay five or six times revenue. that gets you to $125 billion in revenue next year. that probably goes to $500 t billion in the next several years. fill in the multiple there. >> a long way to $2.5 trillion market cap. we will see if we can manage that. it was half that at the peak. gene, thank you. >> thank you. >>> let's take a look at at&t. just out with quarterly results. company came in with earnings in adjusted basis of 64 cents a share. that was 2 cents better than the street had been expecting. revenue at $30.4 billion. that beat expectations. the stock right now up 1.8% now. the company is raising the full-year free cash flow of $16.5 billion. that compares to the prior guidance of $16 billion or better. they are raising adjus

he has 400,000 tesla shares worth 40 million box.most closely? >> cyber truck, 100%. it is the year of the cyber truck. we don't expect anything exciting from earnings. quite frankly they have been sort of in this weird struggle to sell cars at lower prices. i think that is sort of baked into the stock. what we're really looking at is the future. the future is the cyber truck. getting a launch date is crucially important in my mind. hopefully he will announce that and it will be in the next 30 days and that would be a very positive development. liz: how quickly would we see addition to the bottom line from cyber truck sales? i know there is a massive waiting list. once they do start churning them off the assembly line, how will that affect earnings? >> well negatively in the short term because as you ramp production your costs exceed the money you're making on the vehicles even though they will sell the high-end vehicles first to the people who pay the most for them. so usually with tesla in the past they have had to get to well over

elon desperately wants to get tesla into india.e speech in modi's india does not shock me at all. >> i'm confident that tesla will be in india and will do so as soon as humanly possible. >> someone very smart said to me, this is a guy with other business interests around the world, especially spacex and tesla and starlink. he needs influence around the world with autocrats and governments. when he walks in a room as the head of tesla, okay, just another, like, look, ford walks in, it's the same thing, he's on the same level. but when he's also the owner of twitter, he gets a little more attention and it gives him political power. (applause) >> you don't need any introduction. you have been always proven right. now there is... >> (chuckles) not always. >> there are some people who believe that you are a genius. and there are some who are... believe that you are evil. >> i am, um, definitely not evil. (laughter) so... hopefully not evil. aspirationally not evil, um, so... yeah. ♪ ♪ >> spacex says all system are go for its launch of t