in total, the apple ii remained an apple product for an astounding 17 years. a few years later, ibm joined the party. apple took out a full-page ad in the wall street journal and said, "welcome ibm" -- seriously. the ibm pc was not the most advanced computer, but it had the very important job of legitimizing personal computers for business. until this time, most businessmen looked at these microprocessor-based computers like the apple and the commodore as basically toys, suitable for home or education, but not business. it took ibm's entry into the field in 1981 with the pc to finally put a stamp of approval and legitimacy on the pc. you could actually do business tasks using an ibm pc. ibm's initial strategy, being a purveyor of mainframe systems, was to protect the mainframe at all costs. that was generating their billions of dollars in profit. a mainframe computer is literally a room sized computer filled with spinning tape drives and hard drives and people running around. the ibm pc was initially viewed as something that would connect to the mainframes and

remained the apple ii an apple product for an astounding 17 years. a few years later, ibm joined the property -- join the party. the ibm pc when it came out was not the most advanced to computer but it had a very important job of legitimizing personal computers for business. until this time, most businessmen looked at these microprocessor-based computers like the apple, the tsr 80 and the commodore as toys suitable for home or educational environments, but not for business. it took ibm's entry into the field in 1981 with the pc to put a stamp of approval and legitimacy on the pc. you could actually do business types of tasks. beinginitial strategy, it a purveyor of mainframe systems, was to protect the mainframe at all costs. that was what was generating their profits. a roomnframe computer is sized computer spinning hard drives with people running around. the ibm pc was initially viewed as something that would connect to those mainframes. and only later was it something that could stand alone and be used by an individual. we are now in the networking

that taste of an apple, the sound of an apple and so on. this kind of simulation, even though we are doing it very deliberately right now as an example, is actually very quickly and very automatically occurring in your brain. it is kind of business as usual for how the brain works. in my book, how emotions are made, explain how the square and the apple are no different from what you are doing right now. you may think that you're listening to me speak, reacting to my words. but in fact, the brain is creating simulation predicting every single word that comes out of my - mouth and effects that another body part you would be surprised. your brain when i was doing something very remarkable. neurons in some part of your brain are changing the firing of neurons in other parts of your brain to anticipate what is coming next. here is how i like to think about it. your brain works like a scientist. it is always making a slew of predictions. just like a scientist makes competing hypotheses. and like a scientist, your brain is using knowledge, past ex

the stock now up more than 5%. more on apple'sans for the tech section in a whole. i want to leave you with more insight from tim cook, who just spoke with emily chang. when it comes to sales in china, this is what he said. the results were very encouraging. "we thought we would improve zone, but we improved more. ipad results were strong. these services business was extremely strong, and the iphone on a year-to-year business on mainland china was flat so we feel really good." from new york, this is bloomberg. ♪ scarlet: it is time now for the bloomberg business flash, a look at some of the biggest business stories in the news right now. general motors sales falling the most in a year, down 15% compared to a year ago. the industry is getting hit after extending credit to people who could not pay loans. the carbon spending is dragging on u.s. growth after years of intervening to its expansion. cosco says the chairman and cofounder of the company has passed away. a statement was put out saying he passed an earlier today. to 75.aged

tackett leading the asia-pacific up. applessuaging fears with a confident prediction for its new iphone in autumn. of united states, gm and ford hitting the brakes. i am haidi lun in sydney. back, up, the brics are inward fund flows the highest in two years. this is "bloomberg markets: asia." rishaad: right, records for the dow and onwards and upwards. the dow jones industrials up so far this year, 10% up, adding to the gains in the session on tuesday, we do have a move to gains toe, taking what? something in the region of 10.5%. 11%, in fact. that sounds good, but let me pull up this chart. btv 175 is telling you what is going on with the dow, u.s. equities, and how they are doing compared to the rest of the world. you could argue they have a huge waiting when it comes to global indices, perhaps reflecting the the blue line is showing u.s. stocks are ever so slightly lagging globally has we keep on striving towards global high records. haidi: that is almost unbelievable, really putting things in perspective. you do have the e

we are listening into the apple call. es hitting fresh highs after hours are up more than 6%. $159 a share. ceo tim cook just spoke about the strength of the iphone. take a listen. tim cook: i found results were -- iphone results were impressive, with especially strong demand at the high end of our lineup. iphone 7 was our most popular iphone, and sales of iphone 7 plus were up dramatically compared to 6s plus in the june quarter of last year. the combined iphone 7 and seven plus family was up strong double digits, year after year. one decade after the initial iphone launch, we have now surpassed 1.2 billion cumulative iphones sold. ♪ emily: the u.k. is making another move to prepare for brexit. the treasury is proposing a new national investment fund to close a $5.3 billion funding gap between american and british tech startups. the fund would provide money and ther incentives to country's most promising startups. almost 40% of all the funding for u.k. based firms comes from the e.u. back to european investment funds. it

the time. there are local brands that are now surpassing apple in china. >> i think one of the things to 85% ats apple still gets to 90% of the profits in iphone hardware sales. apple is not trying to run the race to the bottom. they want to be the number one smartphone maker in the world, ever. the question is, how well are they doing with china's middle class or affluent, and those who can afford to buy more than one device? the second thing is how well do services?th how well do they do with the chinese language and providing services that the chinese population wants? emily: something else that is interesting is if -- with the new iphone, whether it is the x, we 8 or iphone could see a four digit price increase. even as the competition in china is rising, prices rising. our consumers going to want to pay for it? >> i don't think anyone knows what demand is going to be for an iphone that is $1000 or $1400. we are talking about a brave new world of iphone pricing. interestingly, some of the analysts in china follow the market and say that prices are in interesting signal. if it is expensive,

who here can hear the crunch of the apple when you bite into it? what about the taste of the apple. tart, maybe some sweetness. some people want to give this example actually can feel himself start to salivate. right now, your brain is changing the firing of assault sensory neurons see have the image, the taste, the sound of an apple and so on. the simulation, even though were doing it deliberately right now is an example occurs very quickly and automatically in your brain. it's business as usual for how your brain works. in my book, how emotions are made, i explained how the square and apple are no different than what you're doing now. you might think you're listening to me speak, reacting to my words, but the brain is creating simulations that are predicting every word that comes out of my mouth. if i have named a different body part you would have been surprised. think about it, your brain, right now is doing something really remarkable. neurons in some part of your brain are change in the firing of neurons and other parts to anticipate what's coming next. here's how i like to thi

they delayed the l.t.e. appleel launches in the past, but we're hearing it's planned for this fall. joe: mark, this new edition of the wire -- of the watch aside, how does the watch business doing these days? mark: you know, on tuesday apple had its third quarter earnings calls and the watch grew 7% year over year from the june quarter in 2016. he called the smart watch the number one selling by a very wide margin. smartwatch on the market. according to reports from strategy analytics, the match is behind. but when you are looking at multifunctional smartwatches, things that can do apps, music, fitness, the apple watch is ahead of the pact in terms of sales and functionality. scarlet: yeah. that's my question because it seems like there's a lot of fanfare when apple unveiled the apple watch but it doesn't move the needle for apple. it's hard for the product to move the needle for apple except the iphone. it doesn't seem the way the industry looks at apple when it comes to smartwatches? mark: no, it hasn't. to your

the iphone eight. when will it be released? apple expects sales for the fourth quarter which ended in september to come in as high as $52 billion. apple is likely to launch its newest iphone model in september despite early rumors of a possible delay. apple stock top 6% in after-hours trading tuesday following earnings in its u.k. fed could push the dow past 22,000 today. cheryl: usually this is a weak quarter for apple. it was the mac and the ipaq numbers they really pushed it over the top, especially on the revenue side. i was a huge surprise for many analysts. tracee: a lot of people looking for the shipping sales. i was a huge one as well to schools, businesses. i was interesting. 1000 bucks, lauren? lauren: i want to spend $1400 on the new iphone. i have to. i have the iphone 16 have to upgrade because my iphone fixes hanging on by a thread. you're going to get everything. transfer that is that they were thinking with earnings. people were waiting, so they weren't sure what to expect with iphone sales. cheryl: they were pretty g

the year. so pretty good for apple. agrees with that but the stock moving higher right away in after-hours trading. >> that is amazing the revenue number given the anticipation of this anniversary new phone coming out next quarter. you would think no one would be out there buying a phone. that would hurt it. that is pretty amazing. connell, thank you for that. david: okay, jonathan, gary, dave are back with us. gary, the revenue forecast, let me deal with that first. i see, "the wall street journal" says they were expecting 44.8 billion as their suggested revenue forecast for the next quarter. came in 49 to 52. that is a huge jump. they are expecting in my eyes huge sales numbers from their iphone 8, right? >> two things here. the fact that they were able to beat pretty handily in this quarter when people typically are waiting on the next phone is really good news, and the fact that they're flipping the numbers higher i suspect the market will be pretty happy. i think there are 79 analysts that cover apple. i think they

premarket >> 11.5% weighting in the nasdaq 100. as apple nasdaq 100 >> let's bring in chad morninglander. good morning >> good morning. >> do you think it lifts the bro broader technology boat, or is apple sort of its own thing? it only boosts the chipmakers and suppliers? >> i think it is siloed to a certain extent what actually drives technology overall is global growth, i.t. spending that is really what gives the lift overall apple has been phenomenal company and earnings >> you don't think it has a psychological effect on the market in what has been a pretty strong earnings season >> it has been, but on a go forward basis i'm skeptical because of massive contribution to earnings as well as revenues has been that lift within oil and gas complex. when you back that out, yes, it is a positive number nonetheless not as robust. if you go with the forward forecast, our expectations overall for 2018 is an earnings growth of roughly 5% revenue growth of 5% >> is there still value in a market that's at record highs? we talk about rotations. tech

apple. more in terms of growth-wise. we're seeing -- everyone says the a lull. people that pay attention, they have the growth to come towards the end of the year. so i think if anything, i would probably put my money there. >> neil: all right. thank you. meantime, we're going to be looking at the fall-out on apple and how the whole tech world is doing at noon coast-to-coast on fbn. the network you should have. if you don't have it, i feel sorry for you. no alexa will save you. meantime, arizona republican congressman john mccain is calling on robert mueller to resign because he has too many ties to james comey to say nothing of hillary clinton folks. gregg jarrett has been studying the legal possibilities there. what do you think, greg? >> i've written about a half a dozen columns since the day after robert mueller was appointed. i point to the special counsel statue. it's specific. it says if you have a personal relationship with somebody substantially involved in the case, that would be comey, you shall not serve as special counsel. it's mandatory lan

let's start with the world's most valuable company. apple published its latest set of results and they show revenue growing to $16.1 billion for the three months tojuly. that combined with a prediction that it will bring in as much as $52 billion in the next quarter saw shares rise by up to 6% in after—hours trade to hit a record high. apple made a pre—tax profit of $11.3 billion in the three months from april to the end ofjune, a solid rise on the previous year. this year the iphone is ten years old, but it's not been performing so well in china, where sales this quarter were flat and total chinese revenue for the company actually fall by 10% compared to the same quarter last year. and apple increasingly trails its arch rival samsung in the smartphone market in terms of share right across the globe, which some analysts say is a problem for a company so reliant on handsets for its profits. one way apple has tried to decrease its reliance on iphone sales is its growing range of services. those grew by 22% year on year in 03, with the company

the apple watch is breaking up with the iphone.e will break down the plan to introduce a cellular option and the players potentially involved. after snap fell victim to facebook's imitation game, google -- could google be looking to copy the tech? the u.s. labor market hit its stride in july with the jobless rate hitting and 18-year-old. employers added 200-9000 jobs. the national economic director spoke with bloomberg earlier on the numbers. >> the president is completely right. these are good numbers. payroll nonfarm jobs. down to a 16 year low. we are bringing americans back into the workforce. set is what the president out to do and that is what the president is doing. caroline: joining us from new york is my guest cohost for the hour, david kirkpatrick. enbar from the accelerated program school and me to train the next batch of software engineers. we are seeing. ahead. yes, they are hiring americans. but they are hiring at the lower wage in and of the equation. how many of those in the lower wages coming to you for retraining?

let's start with the most-loved stock up 10% this is restarted the apple run. here we go 162 and counting >> right and the way they release them is right with one or two days left in the quarter the announcement comes yerba buena center in san francisco and it's available to the public with just one or two days of actual data, if you will and so i think that's likely to still be the case. i think they will still announce it and still have it available with just those one or two days at the end of this quarter >> josh, 200 bucks is that the point that investors and apple should be setting their sights on at this point? >> i don't know what market cap that would imply is that $1 trillion? >> that's over $1 trillion >> they're doing buybacks. 190? all right, listen, if the history books were written and apple became the first company in world history to be worth $1 trillion, i don't think i would fall out of my chair that's not a prediction or a price target, but i do own the stock. i've owned it forever. i've cackled with glee at all the various upgrades and downg

"the new york times" out with a story detailing how apple's ambitions have become more modest since thenception. apple's ceo revealed to us exclusively back in june his vision for apple's role in the future of cars. take a listen. tim: we sort of see it as the mother of all ai projects. it is probably one of the most difficult ai projects actually to work on. autonomy is something that is incredibly exciting for us, and, but we will see where it takes us. we are not really saying from a product point of view what we will do. we are being straightforward that it's a core technology that we view as very important. emily: so, the big question, of course, is what will they do from a product point of view, which is the one thing he wouldn't say. "the new york times" is talking about a shuttle service that will test this technology on the apple campus. what do you know when it comes to the latest on the car plans, aside from focusing on the underlying technology, rather than building a car it self? mark: it is a great story. it sort of detailed, similarly to our tech talk in october, about ho

the car. it wouldn't shock me many you're apple and you have the market cap you do, what is one of the giant industries cars we like to joke in our shop and our firm that literally apple should buy tesla it's a crazy idea, but if you want -- >> a lot of people talk about that >> yeah. >> but is that realistic >> probably not. but elon is a visionary and it would give them the capital necessary to build millions of cars a year. who knows. >> management structure would be interesting. with elan -- >> a little different culture. it's not going to happen but i think there are -- there are really interesting things in this >> this would represent the most significant reform to our immigration system in half a century. i want to thank senators tom cotton and david purdue for their tremendous work in putting together this historic and very vital proposal as a candidate, i campaigned on creating a merit-based immigration system that protects u.s. workers and u.s. taxpayers. and that is why we are here today. the raise act will save taxpayers billions and billions of dollars it will do this by changing the way

then on to the sponsor of this proposed initiative, aetna? >> we've seen apple stress again and again it's a company that makes money by selling devices and not through data and the company really stressed with something like health information which is a lot more sensitive, we really do not want our steps and heart rate ending up in the wrong hands. they've said that they will not share this device with third parties, this kind of data will stay on the watch and not beyond that. so, you know, only time will tell whether apple will stick with its policy, but that is what the company has said thus far. >> all right, christina, thank you so much. christina farr in san francisco for us. >>> and coming up, eclipse economics. prices are spiking as people ch. >>> here's a look at what to watch tomorrow. the dow component home depot reports its results. we'll find out if spending on home improvement is still strong. >>> a few companies in the struggling retail sector also release their financial results including coach, tjx and urban outfitters. >>> and a big day for e

there were other music players before the ipod. apple just took a device and a need and made it many much more consumer friendly. so, if you look at the magic of apple, it's really their abi to read how people work and want to work. to deliver them the software. >> they're delivering for investors tonight. thank you, tim. nice to see you again. >>> stocks closed the first day of august, which is usually not such a great month, but today, closing at another h the dow's 31st record close of the year, but it didn't have quite enough steam to break that 22,000 mark. dow closed up 72 at 21,963. check back tomorrow because the apple number may shoot it before 22 grand. the nasdaq added 14. s&p 500 tacked on six. >>> and the president took to where else. twitter this morning, to tap the fact that the dow is in rarefied air. he tweeted stock market could hit all time high again. 22,000 today. was 18,000 six months ago on election day. mainstream media seldom mentions. >> while we sit at record levels on the dow, there are growing divergences on

it's the last thing apple needs in china, is the biggest market for apple but they face very stiff competitione. they don't want the government jumping in with yet another problem for apple. betty: peter, thank you so much. the drama continues. from tokyo.g us it's a story that has not ended for a while. will tell you more about two deals making it rain for warren buffett, the billionaire investor. yvonne: and why investors should be focusing on the chinese large caps. this is bloomberg. ♪ betty: good morning, this is "bloomberg daybreak: asia." yvonne: our next guest says chinese a-shares will take the lead in coming months. saying we should be focusing on large caps, especially those paying out a good dividend yield. kevin wong joins us live in our studio. let's take a look at what happened on wednesday, given what happened in north korea, and we saw the shanghai composite, one of the few markets besides thailand that came through this unscathed. was there something more here? >> the one thing about a-shares is there correlation versus equity markets are the lowest. as result, people are loo

the apple watches that can connect a cellular data networks for the first time. graded apple tv with a faster processor that allows for the streaming of higher resolution video. vonnie: it will be interesting to see the new headquarters. the steve jobs auditorium is underground. meanwhile, the rest of the campus is ring-shaped. a very unusual design. what was the thinking behind the design? mark gurman: it is very cool. when steve jobs was showing debt, to encourage collaboration between different teams at apple. we have a store like a lot of employees might feel on easy about the lack of offices and people able to communicate but the company thinks it will spur teamwork to probably produce better products. the theater is a circular shaped. it is going to be very cool and like i said, a lot of people will be focused on the new building and the first time a lot of people will see the new campus and they are doing the on the same day they are releasing their most important product in several years on interesting time. juste: yes, no angles all soft angles, i guess.

peter, you're our bull so make the bull case for apple right now. >> well, for me the bull case for applereally the big opportunity of fiscal '19, but i understand we're talking about the quarter. i actually via different view. i don't think the quarter and guide are going to matter a tremendous amount because the iphones won't be evident in either in fact, i really think that the guide is going to be below street numbers the consensus is steal and doesn't represent the supply constraints which have been well discussed and well reported. >> so what i hear you saying is that you're willing to endure and what you are expecting maybe to be a speed bump and look longer term for this company, is that the idea? >> absolutely. i look at fiscal '18 numbers, and i don't see a super cycle necessarily reflected in the consensus, and to be honest i don't really see this as a super cycle boom/bust psych. i see this as a super investment cycle where i actually get a couple of years with a two-year rollout of phones. >> all right we've got to go at this point. we're heading to the closing bell thank you

it has been about the apple earnings. was maybe a slow quarter before the new iphone, that we were going to see potential delays on that front. betty: it feels a little like deja vu. we have seen apple disappoint before on their numbers with investors for giving apple. there is certainly more tepid revenue numbers just in anticipation of the new devices, the new iphones to come. this one that is anticipated really has to deliver or justify the amazing stock rally we have seen an apple. yvonne: absolutely, i think it is 30% this year. let's see how the rest of the markets will be. a little quiet on the d.c. front. here is how new zealand is faring. we just got the jobless rate 15 minutes ago, falling to 4.8%. the reaction on the kiwi, we are down 6/10 of 1%, .7421 for the currency. we are seeing the post rba reaction. a longer statement from governor philip lowe yesterday. in particular, talking down the currency. that dollar strength helping -- helping things a bit. for thetill at .7961 aussie. we see oil pullback ahead o

still hungry for more apple. the tech giant expects big things for the next i pone as it publishes its latest results. live from london, that's our top story on wednesday, 2nd august. growing demand for ipads and its other services helped deliver an $11.3 billion profit and send apple's shares to a new record high. also in the programme: standing up to china — is president trump about to take action against trade practices that he thinks are harming america? markets in europe are mixed right now despite a record close the night before on wall street and a strong session in asia. if you're going on holiday, what do you do with these things, your pets? would you let someone stay in home for free if they agree to look after your pets for you? we will speak to the man who is trying to make a business from that very idea! we wa nt business from that very idea! we want to know how far would you relocate for work? let us know — just use the hashtag bbcbizlive. hello and welcome to business live. yes, do send in your thought

the... ...hotelock it in. tripadvisor. money. lights, camera, apple, the starting with those details. , julia. >> apple plans to spend billion over original content, including shows in a new video offering in addition to apple's $10 app called apple music >> the billion dollar number is a significant number, but in the grand scheme of apple, it's pretty modest. apple has $225 billion in revenue, will spend about $12 billion in r&d next year, so this is a relatively small number for apple, given its huge size. >> so far apple's investment in original content has been limited and tied to music and apps so this is a real departure to push into scripted shows, similarities to the ones you would find on hbo and netflix. apple declines to comment, but it has hired some big-name tv veterans, including sony's former chief, and -- to run original entertainment if apple -- it and amazon spends a reported $4.5 billion annually, and netflix says it will spend $6 billion this year. it will be could oug15% after tt apple has entering this market in addition to its deep pockets, it can immediately la

jana, third point and appalossa completely sold out of snap during the quarter >>> the next apple watchontinue need to be linked to the iphone to make calls or stream music that's according to a cnbc source who says the product will be released in september apple has already announced plans to release watch os4, the wearable operating system in the fall >>> and apple and aetna have held secret talks about possibly providing the apple watch to the insurance company's clients. aetna already offers the wearable technology to employees, but it is considering extending the offer in a push to increase consumer interest in healthier lifestyles let's get to the bottom of the news with arjun kharpal who broke the news about the apple watch becoming a stand-alone device it's been rumored about for a long time. what does this mean? >> it means the after pple watch doesn't need to be tethered to the iphone anymore so you don't need the iphone with you to make calls if you're going ton a ruon a ru can stream music and you don't need your phone on your body in the next operating system, apple says th

the dow positive. bear in mind that apple makes 3.5% of the s&p 500. res a bit of a lift given that apple in the premarket is up 6.5% so far. in the treasury market, here's the story for you. the bond market -- yields are higher by two basis points at 2.27. we do get a notice from the treasury that they will be selling $62 billion in notes and bonds next week. we are looking for more announcements coming from the treasury throughout the morning. we will get them and bring them to you from bloomberg. let's head back over to alix steel. alix: i would like to welcome our bloomberg radio listeners joining us as well as our tv viewers. we are here at the baltimore center stage with two very blankfeinests, led and mike bluford -- lloyd blankfein and mike bloomber g. tell us why we are here in baltimore today. lloyd: we are here and baltimore to attend the graduation of the first cohorts in our program of 10,000 small businesses. --the program that educates it's a program that educates really an mba for established small business people who are in the threshol

the biggest word being that apple may be launching its new iphone as soon as september 12, much earlier than wall street expected that news propelled the stock of the world's largest company, it rallied $1.61, and sent many tech followers to wonder what is the entire feffect of the apple ecosystem. don't overthink the question of who wins the new iphone iteration. apple wins apple is just pennies away from a new high here, and this market, stocks tend to spurt higher after rejoining the 52-week list just own apple, don't tried to trade it on wednesday, cnbc will be interviewing warren buffett. he regards apple as the creator of the greatest consumer product of all time, and he struggles to understand why the stock trades at such a discount to other consumer product plays i suspect he'll reiterate his opinion. and that might be worth a few points even without the new phone. now that we know the phone is coming sooner than we thought, i bet his word also fuel enthusiasm more than you would expect the odd thing about the news of the september 12 iphone launch is how undued the stocks of ap

look at the action in apple up 5% right now. the u.s. economy. your money, we've got it all covered. we break it all down for you tonight. welcome to risk and reward. i'm elizabeth macdonald in for deirdre bolton. but first, we are monitoring the confirmation vote in congress for president trump's fbi director nominee. he is christopher ray. the voting just began. we will bring you the vote results as soon as we get them. back to your money, the dow zooming to a new record high. up almost 20% since election day. that's the 48th record close since president trump won. all of this despite the bog down in the beltway. $4trillion in wealth added to the stock market since election day. that's according to the broad base wilshire 5,000 index. it's up nearly 16%. second quarter economic growth came in more than double the first quarter gdp more than 863,000 jobs have been created since january. oil is veering near $50 a barrel, sticking up high above that a little bit. gas prices still averaging about $2.30 a gallon. all of this as a new breakneck sched

the living history. we know that he made apple and peach brandy here. the ams would have been grown on the orchards on his property. you can see some of them here. the we're using one other variety that we knew washington grew. the first step in the process is that it has to be pressed or crushed in an apple press that includes a device to press and crank up the ams in chunks and then that's put in a large press which in the 18th century would have had a rectangular press with a wood. jack screw that was hand cranked down to squeeze all of these apples, the apple chunks. and that was collected in buckets and from that point on you're going to ferment that juice. what we're doing, this is about 5% to 6% alcohol content when you're done. so the fermentation process for apples takes longer than it would for making a whiskey which was also made here, the main commodity. you're looking at 14 to 30 days of fermentation depending on the types of yeast that were used. in this case, what we're doing this time, we're fermenting with a champagne yeast, a little fas

the apple effect might take us there. currently up by 37 points for the dow and 42 points for the nasdaq that's it for today's show i'm carolin roth "worldwide exchange" is up next. chances are, the last time you got a home loan, you got robbed. i know-- i got a loan 20 years ago, and i got robbed. that's why i started lendingtree-- the only place you can compare up to 5 real offers side by side, for free. it's like shopping for hotels online, but our average customer can save twenty thousand dollars. at lendingtree, you know you're getting the best deal. so take the power back and come to lendingtree.com, because at lendingtree when banks compete, you win. that's why at comcast we're continuing to make4/7. our services more reliable than ever. like technology that can update itself. an advanced fiber-network infrustructure. new, more reliable equipment for your home. and a new culture built around customer service. it all adds up to our most reliable network ever. one that keeps you connected to what matters most. . >>> d

the valuations of apple, google, facebook, is nothing like the valuations of amazon and netflix. they are just not. if you're talking about the nasdaq 100, you can find dirt cheap stocks and very expensive stocks i'm an active investor i'm not buying indices i'd be against buying indices more today because of disparity. buy low, sell high >> we've been talking so much about tech and the other big stories of the day and we've referenced apple hitting an all-time high after reporting better than expected earnings last night tony sakanagi is live in new york city. welcome back. >> thanks, scott nice to be here. >> boy was i wrong the words i used were nonevent and tom brokaw said during one of the election cycles, not only did he have egg on his face but omelet all over our suits. boy did we miss this. >> i'm in that camp as well. i think i was a little worried about the quarter and a little bit more worried about what they might say going forward. unequivocally, both were better than expectations. the impressive thing about apple's quarter was, yes, they did better on iphone, which

mid-1990s, apple had a couple more ceos none of whom grasped the vision of apple. any did worse and worse as the decade progressed. >> with profit margins shrinking, apple seems destined for a takeover. this is a computer that even has fan clubs. >> i just love the apple. and i always have, and i can't really say why. >> everyone was root fog are apple to somehow survive. it wasn't at all clear that apple would be around at the end of the 1990s. >> the troubled apple computer company may republican to its core in an effort to boost sagging sales. apple reportedly will name its co-founder steve jobs as its new chairman. he will replace the chairman who was ousted earlier this month. >> stave came over to apple, sold next to apple for $400 million. he had no ambitions at apple at all. but steve jobs was watching apple flounder. and he just couldn't help himself and so he remade the company the way he wanted. and there was no one to oppose him because the company was exhausted. >> steve jobs had exactly the abrasive but incisive personality that apple needed at that po

surging to a new high after a big earnings beat the conference call is underway and mr. applenning the red iphone he'll tell us what surprised him most about the quarter plus, tesla sinking for the second straight session ahead of its earnings report. traders are betting the stock could do something it never has before we'll tell you what that is. much more after this thankfully, the breakthrough in prevagen helps your brain and actually improves memory. the secret is an ingredient originally discovered... in jellyfish. in clinical trials, prevagen has been shown to improve short-term memory. prevagen. the name to remember. that's why at comcast we're continuing to make4/7. our services more reliable than ever. like technology that can update itself. an advanced fiber-network infrustructure. new, more reliable equipment for your home. and a new culture built around customer service. it all adds up to our most reliable network ever. one that keeps you connected to what matters most. >>> welcome back apple conference call just wrapping up. hey, josh. >> well, melissa, a bit more

the other? >> well, you're right. it's really appleamsung competing for what is the latest, greatest phone i mean, interestingly, screen technology is something to compete on and yet, apple's iphone 8 is actually going to use a samsung screen so kind of ironic there. and so, apple is sort of catching up a little bit on on samsung using their own technology, moving to an oled screen at the high end apple has generally thought to have the best camera setup, at least until now. cameras are always something everybody competes on, but i don't know that it's necessarily the biggest selling feature. with -- >> right >> with i think both, though, the note and with the iphone 8 coming out, what's interesting is you're seeing actually the price point go higher for high-end smartphones so both companies are not competing with each other, driving prices down. they're actually competing with each other, you know, driving prices up. i think recognizing that people, because they love their phones so much, they're willing to actually spend even more i

>> well, i mean, it's the tenth anniversary phone. obviously applehanged the entire equation when they entered into the iphone. you never know what they're going to do. they have a group of people that like the phone it's a very expensive phone. there will be subsidies, presumably but i think it's an expensive phone. a lot of people are using their phones i know i use it pretty much for almost everything now. i was out yesterday in palo alto i used ut for stories. i used it for everything i was struck that i didn't touch my laptop for 24 hours which is interesting to me. so the phones matter a great deal i mean, at least i'm willing to pay up for it if it's a critical device in my repertoire for my job. so we'll see but it should have a lot if it's going to be that expensive >> care yashgs you've been all over the executive search for uber's sikceo. you told us that meg whitman would not take that job. your column jam packed with news >> jammed. >> he said he's going to seek jobs and now dede continued this partnership. who is going to want this job?

in terms of the apple story, have a look at this chart. ve increased in the last quarter but in china, they are going backwards down by 9.5% in the last quarter. this is because the iphone is no longer seen as a status symbol in china. there are a lot of other chinese manufacturers like huawei coming through with phones that consumers want to get their hands on. and some comment from our that's ary. comment it gets lately -- less popular each time. china.est iphone in manus: thank you. beating analyst estimates, production was at the upper end of the guidance, we are joined b y alex schneiter. this is again -- a good set of benchmarks my the second time you have revised your guidance for production this year. gets,s as good as it 80,000 to 85,000? alex: i am pleased with the results and as you mentioned, we revised our guidance for the second time and that is on the and of two major assets, operated assets which have performed well. we increase the capacity which allow us to increase the revised guidance. anna: good morning to you. your cas

is the iphone all that matters? >> apples the iphone company for the resealable future, yes. -- for the foreseeable future, yes. emily: in other earnings, sony's turnaround seems to be on the right track. the company reported company profits that topped analyst's estimates. shaw -- sony saw strong demand. they showed a healthy music business, and increasing sales for their consoles and games. we will have more earnings later in the show, including tesla's record cash burn. how elon musk continues to spend big to be more electric cars to the road. plus, our exclusive interview with jack dorsey on square's booming business. and sky high tech evaluations and silicon valley's relationship with the white house. this is bloomberg. ♪ ♪ emily: square's lending business is booming. i sat down with chairman and ceo jack dorsey to ask him about what is driving growth. we talked about square's burgeoning market of customers. jack we realized recently that : we are not really competing with financial institutions and banks and traditiona

emily: it has been nearly six years since tim cook took over apple from steve jobs. each year, the company becomes more of cook's own. he has unveiled apple watch and apple music and made apple's largest acquisition in history, buying beats. he has taken on issues like the environment, philanthropy, equality, and education. he stood up to president obama on user privacy and maintains a dialogue with president trump despite the disagreement on climate change. now is iphone sales plateau, whethers remain about it's the big innovation -- where that big innovation at apple is going to come from. we sat down at the annual development conference sec out new territory for the company's future from tv to cars and apples are's category in years, a smart speaker called home pod, a direct challenge to amazon and google. on this edition of "bloomberg studio 1.0," apple ceo tim cook. tim, thank you for joining us. tim: it is great to see you again, and unbelievable to be here. emily: let's start with the new smart speaker. why should people buy homepod instead of amazon echo at this price? tim:

samsung's attempt to steal the smartphone thunder from apple. troducing the new galaxy note eight phone ahead of apple's next big iphone. we have details on both devices. plus, mutual funds take into consideration google and other giants. could new sales stats boost investor confidence? as the price of bitcoin surges, investor interest is growing stronger. now the question is, are we in a crypto currency bubble? when could it pop? first, our lead. it is a redefining moment for the samsung note line as the south korean company unveiled the samsung note 8. it is their largest phone yet and could be its most important. after last year's exploding battery fiasco, consumers could be hesitant to pick up their new phone, however, samsung is confident that the problems are fixed. it wants to move forward with its best mobile device yet. our bloomberg representative has the story. >> i am in midtown manhattan for the unveiling of the samsung note 8. the stakes are very high, since it is the latest version since the galaxy note 7 was recalled after reports

rishaad: in terms of the apple rivalry, normally the product cycle is different. it is almost like they are lockstep now. >> that's right. have these debuts in the fall that compete with each other. wanted to samsung rush out the note 7 because they felt like they had a good phone with strong features and cost them in terms of the batteries. the competition is fierce, particularly in markets like the u.s. were apple dominates the market. markets of like japan, they compete head on. andher markets, the note 7 the galaxy line from samsung do morer where consumers are concerned about lower price points, so they are competing at the high-end, and samsung competes more broadly with the lower end devices. rishaad: great talking to you. coming up, china's oil majors set to report today. how much opec production could impact their bottom line. ♪ ♪ rishaad: you are with bloomberg markets. i am rishaad salamat in hong kong. day of corporate results in our straight year, south32 reporting earnings that jumped eightfold, underlying profit rising to $1.15 billion to june. paul

apple tv is compelling. the watch is getting there. it doesn't matter so much. pple has positioned itself on the consumer side of a really , and the battle has consumers on one side, facebook, google, and the other players in the economy on the other. has clearly decided it is going to take the consumer's side. thank goodness, because at the moment, our government is powerless. the european union is trying to put some anti-monopoly protections in for consumers. now asat apple right basically taking a stand that says, if you want to avoid bying your brain hacked google and facebook, if you want to avoid the addictive properties there, we are going to help you. talk about that. you wrote an op-ed in usa today about how facebook and google are anti-consumer. you said like camping, nicotine, , facebookeroin provides short-term happiness with serious negative consequences in the long term. users fail to recognize the warning signs of addiction until it is too late. in a day only 24 hours and tech companies are making a play for all of them. you think apple is the only