jobs used it to get parts for the apple i. ' parents' garage, where the first apples were assembled, has entered entrepreneurial folklore as the log cabin birthplace of the personal computer. here wozniak tested the apple i and future models. jobs wrote advertising and managed the money. the characterization that steve jobs was the marketeer, the promoter, was absolutely true and that steve wozniak was the technologist. jobs really forced the company to happen. he solved the problems. he hired the people. he made sure the company was pushed into a real organization. and of course, mike markkula also helped a great deal. marketing expert markkula was so impressed with the computer, he took money he'd made at intel and provided capital in return for partnership. the threesome began developing the apple ii for a 1977 computer fair. we got the units the day before. we carved off the excess shavings on them, made them look presentable, put our boards in, and it was a working apple ii. journalist michael moritz wrote a history of app

you need for making the apple pie and apple cider, and you can't have apple cider without apple cider donuts. i hate to be the one to tease you but i have to have a bite. coming up we'll have more on the apple making process in time for thanksgiving. i'll see you in a little bit. >> i can see the displeasure on your face. it's evident. >> she will need a dentist, having too many apples. still ahead from bay to bra. which words you can't say if you work at one fast food restaurant. >>> if you done have moves like jagger, don't feel bad, you may have a genetic dance disorder, so that explains why some of us have two left feet? >> and these magical bird dogs, they may not be real but they are really amazing. we'll take you into the weird world of dirds. >> and meteorologist, melissa magee, is back with the full accuweather forecast. >>> a 63-year-old store clerk in england is mising a finger but alive today because of the fight he put up against a machete wielding robber. this is video from inside of the store last weekend, you can see the robber waiving the three foot long machete, the

the previous 20. there are two big drivers. one is apple pay. and the other is bitcoin. ple pay is the thing that is freaking out all the financial services companies. apple showing up to the party and saying we will now be in the center of payments has caused a collective heart attack. there are payments companies that are aligned with apple that are like, "yeah, we figured it out." there are payment companies that are not, that are having a stroke in real time trying to figure out the implications of apple pay. they figure google will respond to apple pay with a google pay that will work the same way with android. >> google wallet has not worked out. why didn't it, and how optimistic are you that apple can get it right? >> this is what is interesting about apple pay. apple pay is viewed by the payments industry as revolutionary, but it is the most consistent with the existing payment system of any of these new systems. what is surprising is how many things don't change with apple pay. you put in your credit card. >> are you saying it's not that innovative? >> it's innov

the transports. theyyturned red. apple, did it romance the key part supplier, only to dump it at the altar with a ton of leftover product? and say by the way, give me the ring back. the sapphire ring. we'll bring you both sides of the case. who's likely to prevail? expert lawyer on corporate investigations, it's fascinating, you don't often see a supplier pointing the finger at apple. >>> let's do lunch takes on a serious tone when lunch partners are the majority in congress threatening to overturnna central piece of the legislation closest to your heart. health care, did everyone mind their p's and q''. what did they taak abouu? what did they eat? we have a full meal to debrief you in just a moment. n you startomorrow? yes s sir. alright. t's she news morrow. y we failrly busy. morr we're bd solid. cse on e house torrow. i want one of these opup. becau go live... cse on e house torrow. it's a day full ofrose and oftehat day arriveby tra? bigger onmoow. wh c t trains moveorward, sooes the re othe y. csx. how tw moves. i'd

the market. that will be good for apple. theblet is expected to be goto to consumer electronics device this holiday season. ipadwill be great for the franchise. i think you will see apple do different things with the ipad moving forward. >> for all the concerns about steve jobs no longer running the cap has apple's market doubled since tim cook took over. what does this say about tim cook? >> up until steve jobs passed away, i think there was some discounting in the stock. number two, i think people really felt like the wheels would fall off of apple's wagon, it didn't. actually, they have done some innovative things. i think he has done a phenomenal taken ahas -- it has market alone while to recognize that but they are starting to give the stock a better valuation. is apple going to get to a trillion dollar market cap, how long will it take? our 140 three dollar price target is well over $830 billion. the trajectory looks right. we will not call when, but the trajectory is right, and the stock is, again, very cheap, and we a

it is far and away the most innovative. appleay is the thing that will have the impact in the next three years. the combination of those two will cause enormous change. >> you have been a big supporter of bitcoin. you could be wrong about bitcoin? >> sure. the saving graces -- we are venture capitalists. i think like a venture capitalist. we make 10 bets. we assume that five will go straight to zero. no one knows one way or the other. if it does work, it could be profound and revolutionary and gigantic. that said, underneath that is that the cryptocurrency concept will become vitally important. i think it will be in the form of bitcoin. even if it is not, it will be something else. >> netflix could have a billion subscribers in the early 2020's. there is no reason why it cannot be gigantic. ♪ >> a lot has been made of companies like uber and lyft. i know you have been a republican donor, and some republicans want obamacare repealed. what would you say to that? >> if you hate obama care as a government takeover, you should still l

>> very similar, talking facebook and apple, up on the year, but apple is steep. day-to-day, and that's dance's phrase of tactical and trade because it is just that in the sense you have to be quick for a draw down, but structurally, apple is a very in tact situation whereas facebook is not. there's a recent drop in gap, and we like the opposite side of both of the trades longer term. >> here's the thing, apple is cheaper than the market, but compare to the historical multiples, it's a turn and a half rich meaning if it trades the way it has over the past several years, you're looking at a stock 10% lower than right now. long the stock, something i advocated, by buying the put. essentially, that gives you a cheap call through the holiday season, and, you know, at the price this put is trading right now, it's unlikely to decay a great deal because that's when you take risks, when options premiums are high. they decay if the stock sits there. right now, the protection really, day-to-day, is not costing much. comes in, spread out of it or monetize it and stay long yo

the watch. nfc. works with apple pay. at maybe will sweeten the deal and apple pay side there's controversy now with some vendors who don't want to use it. but overall i think it's just -- you know, i think that the wearable category has a real future but i just think that this is really early days and in a way i don't think apple is the company -- i don't think apple can solve it the way of music players, with mobile phones. i just don't think it's going to happen in that way for them. but i think apple's going to be committed to the product. >> lance, only thing matters is streaming taylor swift's album on the apple watch or not. that's the key question. >> i was telling her that. that was my contention. >> he's listening to it all weekend nonstop. >> no spotify. shake it off, though. >> so 2013. >> thank you so much. >>> we have about half an hour to go. the dow off about 43. back around 17,350 the s&p's off by a couple of points and same with the nasdaq today. >>> boyd gaming up 10% in the last year and ceo will explai

apple. each is up between 8% and 42% on the year. but apple is steep. that's dan's phrase of tactical and trade. because it is just that in the sense that you've got to be quick if you get a drawdown. but structurally, apple is a very intact situation, whereas facebook is not. facebook has a recent drop in gap. and we kind of like the opposite side of both of these trades longer-term. >> here's the thing. apple is cheaper than the market, but compared to its historical multiples, it's at least a turn and a half rich. meaning if it was trading the way it has historically, what you'd be looking at is a stock that's probably 10% lower than it is right now. if you're long the stock, which is something i've actually advocated by buying this put, essentially that gives you a cheap call through the holiday season. and, you know, at the price that this put is trading right now, it's unlikely to decay a great deal. because that's when you take those risks. when options premiums are high, they can decay even if the stock just sits there. but really, day-to-day isn

new clues about when the apple watch what the market. apple reportedly said that the watch would be launched in the spring of next year. at a september product unveiling, apple said the watch was coming in early 2015. now, to our lead. was it a mechanical problem, pilot error, something else? investigators are trying to figure out what caused a virgin galactic spacecraft to crash in the mojave desert last week. signs are increasingly pointing to human pilot error. here's richard branson, speaking on bloomberg's in the loop. whohe ntsb are the people causes, andbout the engage in a thorough investigation. that aey indicated was lever had been pressed a few seconds sooner than it should have been. we believe it up to the ntsb to decide whether that had any effect, and whether that was the cause. >> the crash killed one pilot and injured another. branson said he is confident there is no fundamental flaw with the spacecraft, and he vows to push ahead in the private space race. anding me as cory johnson, a former astronaut and commander of the

apple's game? >> i think one of the biggest things that apple left out and which is an opportunity for google is theewards. apple is a hardware company. google is an advertising company. it will tie in rewards much more tightly. what about other companies that are trying to solve the merchant side of the electronic payment problem? possibly doing it from a , like they advantage manufacture the terminals, the point of sale, or they develop a software that goes into those at the point of sale. they can do some of what you are doing. those kinds of companies. >> super open and very much competitive space. what we differentiate on is on three key points. you see an announcement, are nearing with sprint, carrying the interchange further. and a tied in loyalty reward. >> ok, i love the idea of lower interchange. what that means is lower fees for the merchant and savings for me, the consumer. >> absolutely. >> i hate my phone bill only slightly less than i hate my cable bill. the last thing i want to see on my phone bill are more charges that i do not understand. the consciousake decision to use it, but wh

optimistic are you about the apple watch? we still don't know how big the market is for this and if it's going to be as big a market as the iphone. people keep saying it is a niche product. >> i think it will be huge. if you look at the number of watches sold each year, it's off the charts. a lot of these are cheaper watches but the total number is incredible. we used an 18 to 20% conversion rate. i think it will be the fastest-growing new product category and apple's history, surpassing the ipad. >> how concerned are you that at this point, the iphone is such a big portion of the revenue? >> it is a big piece of the forward,ut as we go apple increasingly will diversify. also think there is going to be an apple tv i think there's a lot to look toward to in apple and that is what the stock is starting to show you. still think there's going to be an apple set? quite a few people would disagree with you. the people we have spoken to have said we thought they were going to do something with tv and think i have found it too difficu

there's nobody to buy the apples now. that will cost polish apple growers $659 million this year. for apple growers, the situation is dire. in a typical year, 40% of the apples this man grows are shipped to russia, without russian clients, his livelihood is in jeopardy. >> for sure they are suffering. you know, our market has panic. >> reporter: that panic over apples is a symbol of bigger fears spreading across a european continent whose economic health was already turning rotten. the conflict over ukraine, and sanctions that followed, dealt europe another blow. nowhere is the fear greater than in germany, whose economy, europe's biggest, is faltering. >> as a result of crisis in ukraine, german exports to russia fell 26% in august compared to a year earlier. >> analysts forecast a recession, as it grapples with the fallout. on the other side of the equation, sanctions are taking a toll on russia's stagnating economy. lower oil prices put the country on the brink of recession. it plunged to lows. the bank of russia projected investors would yank 128 billion out of economy in 2014

intel and fashion company opening ceremony, a chic take on tech going up wrist to wrist against the apple turn it on right here. >> reporter: the $495 bracelet boasts 18 karat gold coating, snakeskin, even pearls with the touch screen subtly placed on the inside of your wrist to show you text messages, e-mails, schedule alerts and yelp what's nearby. >> intel is following up with an interesting competitor. >> reporter: as for the apple watch, revealed in september, it has a sleek touch screen that comes in various colors and styles starting at $349. it can do just about anything your phone can do but one major difference? the apple watch syncs to your phone while the mica is completely separate. >> this is a completely untethered device. doesn't have to be connected to your phone. >> if you are looking for something fancy and only slightly technological, you could probably do really well with a mica. but i think the apple watch will ultimately give you more access to your data. linsey davis, abc news, new york. >> what do you think? >> like it a lot. it has a good look to it. sleek. >> go

the world. will it help apple win even more customers in the world's most populous country? brian buchwald, ceo of a provider of business intelligence for western brands looking to succeed in china joins me. this is an interesting deal. we know that apple, tim cook and have been talking, but what is the significance of this? >> this is a nice surprise and i think it's much more important pay deal.n even and ali it's basically a clearing house for about 4.5 billion cards and gives chinese users access to the apple store like we have in the states. rather than having to go through a cumbersome process to buy and leverage and cap, it's as simple as it is for us in new york and san francisco. >> what is the phenomenal difference between the way people in china are paying for what they are buying, whether it's in stores or online than the u.s.? i'm always struck by europe ersus the u.s. >> china was very much a savings culture not a credit economy. people usually paid with cash. what alibaba has been able to do is take that model and bring it to mobile devices and other places. we

but i think the apple watch will ultimately give you more access to your data. abc news, new york. >> what do you think? >> like it a lot. it has a good look to it. sleek. if the watch wasn't there on the underside, would you wear it just as a bracelet? >> i would. i really like it. i just think we're too obsessed with technology. do we really need to have it on a bracelet? >> yeah, we need it everywhere. what are you talking about? everywhere. >> i'm going to go back to my cave. >> and do what? watch your dvd? >> no, watch my vcr. >> right, right. sorry, folks. >> my dial-up phone. >>> don't miss our updates on facebook at wnnfans.com. >> more news from abc coming up. stick with us. >> announcer: this is abc's "world news now," informing insomniacs for two decades. decades. . >>> making news in america this morning -- breaking overnight, shots ring out on the campus of florida state university. students in the library barricading doors as the s.w.a.t. team moves in. we have the latest. >>> bracing for round two of the monster storm. snow fall again in western ne

the apple is very low. great opportunities to be involved or buy protection. >> one of the nation's biggest hot button issues eamon javiers in d.c. with the story. >> high drama here in the senate. just within the past half hour. mary landrieu, the democratic senator from louisiana tries to wrangle the required votes from interest floor. they are going to vote at 6:00 tonight. what you are seeing now is the preamble to the highlight of the evening. what's going on is landrieu t trying to wrangle those sixty votes she needs. she has about 59 right now and the question is whose going to deciding vote on this. a lot of folks have been looking at senator angus king. he within the last hour put out a statement he's a know. republicans are watching chris koons in delaware. he's known to be close to mary landrieu and put out a statement saying he's listening. we'll see how he comes down this evening. but even if she gets to 60 or 6 1 evening, the question will be whether barack obama signs this legislation when it

but i think the apple watch will ultimately give you more access to your data. hink? >> like it a lot. it has a good look to it. sleek. if the watch wasn't there on the underside, would you wear it just as a bracelet? >> i would. i really like it. i just think we're too obsessed with technology. do we really need to have it on a bracelet? >> yeah, we need it everywhere. what are you talking about? everywhere. >> i'm going to go back to my cave. >> and do what? watch your dvd? >> no, watch my vcr. >> right, right. sorry, folks. >> my dial-up phone. >>> don't miss our updates on facebook at wnnfans.com. >> more news from abc coming up. stick with us. >> announcer: this is abc's "world news now," informing insomniacs for two decades. decades. hi, anne. how are you doing? hi, evelyn. i know it's been a difficult time since your mom passed away. yeah. i miss her a lot, but i'm okay. wow. that was fast. this is the check i've been waiting for. mom had a guaranteed acceptance life insurance policy through the colonial penn program, and this will really help with the cos

the $114 question. applend alibaba. >> they cost the same but which do the traders think is a better buy? and toyota is revving up for its first fuel cell car. all straight ahead. >> melissa, thanks. blame it in part on the selfie craze. apple estimates in price target raise this morning on consumers needing more memory. walt, good to see you again. >> good morning. >> selfie is not the lead of your report but it is in there. and you are talking essentially people are going to need -- they are going to take more video, gonna have more data. gonna need more memory. >> i hate to throw cold water on the head line with the sell fis. and the cameras are getting better. so a selfie today is three times the size of a selfie with the iphone 4. however the bigger issue is video. if you take one selfie it is less than 1 megabyte. a 30 second video is like 300. so the real memory hog is video. and consider this. in the iphone 4, the entry level memory was 16 gig. that still exists today. and i think a lot of people expe

grind the apples, squeeze out the juice. >> every bit of the apple. red for six months to one year to ferment turn in to what americans call hard cider. the sweeter the apple the higher the alcohol level. >> that will ferment around 7.5%. >> that is same as a strong beer. brennan's way of making crieder is an ode to the past. >> our forefathers, thomas jefferson, john adams, george washington they were accomplished orchardists. >> david flaherty is with washington state wine. >> they are fermenting their own cider. >> the presidents carried on cider making tradition that started centuries earlier in europe with an else, cider was more readily available than clean drinking water. ♪ >> but by the 1920s, nearly all of the cider apples were gone. >> before prohibition hit there were tea totallers going around literally cutting down orchards by the thousands. only today 75 to 100 years later that we're getting back in to it. >> in a cider renaissance. >> this is cider's return. >> cider is the fastest growing alcoholic beverage in america. as to the core of

apple will delay the release till the spring. apple unveiled the first watch in september and according to report they want to improve the battery that needs to be charged avenue day. >>> -- every day. >>> cell phones document our lives and a couple who tried for years to have a baby documented every bit of the journey in cell phone pictures only to have the phone stolen, pictures and all. ktvu's noelle walker talked to the couple who say they don't care about the stolen electronics, they just want their memories back. >> reporter: at three weeks old her life is filled with kodak moments but there are few pictures to document the precious moments when she entered the world. >> if i had one thing, it would be the pictures. >> reporter: on october 28 he stopped in for a caffeine jolt. >> he is here three minutes. >> he parked his car right here and those surveillance cameras captured the moment when his memories became someone else's. surveillance video shows a car pulls up, someone smash the window and steal a computer and cell pho

the 6? what does that mean for apple's margins? recently, we have seen the 6 plus supply improving and the 6 supply tighter. what we think is going on, if you look at the early adopters, they tend to spend more and get the bigger formfactor. i think we are starting to slowly drift back into more mainstream. that is why you are seeing better availability of the six plus and tighter availability of the 6. ultimately, down the road, it will probably be 70% of units that will be the smaller iphone 6. >> and that is smaller margin? >> the gross margin is comparable. it might be fractionally lower but the gross profit dollars are less with the 6 because the asp is lower. apple is happy or two so you either one, but they are probably happier to sell you a 6 plus. >> does this matter for apple, were they going to sell everything they made this quarter anyway, or is this material enough where they will have a much better quarter than they expected? >> there is a governing factor on how big the december quarter can be, and that is the supply

and we've heard in the past apple looking to do it. but maybe it is a way to institutionalize things like the ipad. >> it has to be a long game. they missed had bulk of the pc refresh. i think this move is actually better news for microsoft from an investment standpoint. when you look at the fact they have now office free across the ipad line. and they have an up sell mechanism from premium. if you are the business you want the features that allow you to secure the information and have share point on the back end. so nearer term. within the next two, three years, probably better for microsoft. but longer term the apple participates in the pc refresh, then it's good for them. >> google taking a 60 year $1.1 billion lease on a nasa airfield. including three hangers, capable of the housing robotics and space exploration vehicles. google will pay $200 million to refurbish the areas. even those space travel has taken a hit the last few weeks. >> it seems one of these small bets for google to say we're passionate about certain things. we have

the former c.e.o. of apple-and he has many fingers in many pies building many companies and giving advice to the next billion dollar companies out there. >> great work there. just going to bring you some breaking news out of italy. the services p.m.i. number comes in at 50.8. expansion territory. we were looking for 49.4. they joined spain with some solid service sector numbers this morning. big for both. 50.1 versus a 49.8 reading for september. the reading on both of those indexes, the highest since july 2014. it reverses the trend of contraction. to say the last hour, we have had some solid numbers from spain and italy. let's get over to what's coming one "the pulse." >> imzpwration the number one subject in the u.k. sfrernl a political point of view. -- certainly from a political point of view. the migration data ke have been getting for the last day or so, really casting an interesting light on that. last night took -- the business secretary gave a speech talking about diversity in the board room. we're go

they strengthen the case for apple. microsoft by having office there. ee an ipad up stick in sales can we see say -- >> we talk about hedge funds underperforming the market. we got a glimpse of a lot of hedge funds selling apple in the third quarter. george soros nearly liquidating his position, david tepper trimming as well. a look at their shares in alibaba in the next segment as well, but when you think about some of this smart money getting out of the stock right before such a huge rally, that's got to hurt. that's got to hurt. >> stocks climb a wall of worry. >> they're also looking for such giant moves. the competition in the hedge fund space it's not enough to have 10 or 20% moves in stocks. they're looking for multiples at this point why so many of them are going private. for a lot of these people apple probably didn't seem aggressive enough for them to stay in. >> unbelievable. talk about being underestimated. good to see you, jon. congratulations on uber. >> i try. >> jon steinberg. >> a check on the markets which are hovering near the flatline

the official name of the campus is apple of campus 2, a huge circular building located near homestead road. the building is rapidly taking shape with parts of the structural construction going with new campus housing 12,000 apple employees. >>> the first traces of radioactivity off the coast of california have been detected from the fukushima nuclear disaster. according to the "san francisco chronicle," they were found 100 miles from eureka and the traces found are far lower than any radiation that will pose a net to people or marine life. it has been three years since the, and tsunami destroyed three nuclear power plants. >> people are stealing water from fire hydrants from east contra costa county where people rely on well water. a water district could raise the fine for stealing water. >> we have an uptick in reports of water assessment. >> will withs are drying up in contra costa county. thousands of gallons of water are being stolen from hydrants our board is considering increasing the fine we have in place in order to create more of a deterrent for people that can be attempted t

next revolutionary product the next three or four years but apple tv beyond ther house continues to be a big dream for apple. i think that would be next big product category. i will be surprised if it is out next three to five years. apple watch, apple pay will be research funds. liz: apple watch. apple pay. by the way, today it went above its presplit price. okay? it split back in july. and you look at what happens here. that was $800, right? would be the presplit price value. 803.25, how it is valued at 114.57 which is what it did hit. great to see you both. in our bull-bear debate on apple. david? >> can't get one of those gold apple watches? liz: no. i don't want an iwatch. david: in january, sara blair, have you heard about her? she will be the youngest elected law maker in the united states. she is not 20, folks. up next we hear how she plans to create more jobs in her state. liz: stocks settled at record highs today. we're bringing back j.c. parets to give us the number one thing to watch in the markets. and your money, it might not be what you think. davi