on top of the fact that tech faces the most difficult comparisons. 't that tech is facing a slowdown, you cannot keep up the extraordinary pace of growth for that long. joe: another way you are looking at tech earnings is new tech human motive eps growth. what are we looking at here? >> this tells you the story of the loss of a few of things. tech sector is going to lose two bank stocks by september of this year. they are going to move to a new communications sector that they are designing to pop up at the end of september. replaces the old telecom center. the current telecom constituents are going to be joined by the media companies from consumer discretionary. a few of the online travel services, as well as facebook, alphabet, and aiming stocks from tech to perform this new sector called communication. joe: how is this going to affect managers? the s&p 500 can do whatever it wants, we are going to's sti category -- we're still going to categorizing tech. or will there be a shifting to realign with the new index subsets? >> if you are an active bench

get more kids of color involved in the tech industry. that's not new, but this is. students in the academy will be allowed to take courses that offer credits both at skyline and at berkeley city college at no cost. and after they graduate, they have two years to complete their associate's degree for free. >> we're hoping that they can get, let's say, at least a couple semesters' worth of college credits before they leave so they'll have a real edge. >> they also become our employee base later. so, it's a virtuous cycle for all. >> i want to create something. i want people to know my name, what i did. >> i just want to make sure america leads us, continues to lead the world in computer-technology science. >> everybody involved expects to get back more than they give, especially the tech industry, which believes that diversity creates greater profits and prosperity. in oakland, eric thomas, abc7 news. >> and joining us in studio today are dr. hilaria bauer, sitting right next to me, superintendent of alum rock union elementary school district, located in east san jose,

highest since the tech bubble. s still have but tech isweight, creeping up there and after these behemoth report earnings, we are likely to get closer. one thing to also keep in mind is during the tech bubble, the weighting of tech shot up quickly and now it has been a perhaps signifying how our economy is changing and relying on these companies more. on a manager level, part of the reason it is so hard to be the only have awhen you few companies really dominating and pushing the index is up higher, how in the world are you supposed to be the index if you are -- unless you are overweight those companies, as well? matt: what has been driving the gain in weightings? the ever-growing market caps of these companies? dani: that is the biggest part. if you look at facebook, apple, amazon, which isn't even included in the tech companies, microsoft, google's -- they are 10% of the gains we have seen so far this year in the msci world index. those four or five alone are really pushing it higher. spread, it is getting awfully

the d.c. swamp really works. >>> big tech on trial. don't miss my verdicts on the controversies facing google and facebook. i knew i'd get that wrong. it's a british thing. >>> and the author of a shocking new study joins me, the anti-conservative bias in silicon valley. but first, here are some of the things that happened this week in our economy. evidence of a major shift from part-time work to full-time work. 2016, the final year of the obama economy saw the highest number of part-time jobs on record. last year the trump economy saw the highest number of full-time jobs on record. across the board wages are going up. millions of workers are getting thousands of dollars in bonuses. an extra week or more of pay for half the workers in america. none of this is an accident, it's the direct result of this administration's economic policies. in particular, deregulation and tax reform. last week we saw military get the resources they need. we got news of incredibly important effort to reform the civil service and cut back the permanent burea

are the tech giants doing enough? spoke to bloomberg technology's selina wang and tara maller, senior policy advisor for the counter extremism project from washington. tara: not only did you see that russian bots come out in full force after the horrific and tragic events in florida, but you also saw the robert mueller indictment, citing facebook thirtysomething times, twitter, and youtube all mentioned. that is because the tech companies have a number of problems on their hands. the bots, which came out after the florida shooting, creating hashtags, trying to create division with divisive rhetoric and fake news conspiracy theories. this is not new. the real concern here is that the same tactic and strategy is going to be taken again in the midterm elections, and the same tactic is also taken by terrorist organizations who operate on these platforms. what you are seeing right now is another issue area, a tragic school shooting, that russia is trying to exploit across these platforms. they clearly have the ability to d

so we start in silicon valley where the giants of the tech world have been reporting their latest resultse biggest the mall is apple, and it has hailing its best ever caught. that means it is getting ever closer to becoming the world's first trillion dollar company by market value. the company made revenues that big in the three months to the end of december. that great shopping season, of end of december. that great shopping season, of course. end of december. that great shopping season, of course. 20 billion of that was profit. that was up 12.6% on the previous year, setting a new earnings record for the firm. they managed to sell 77.3 million iphones in the court as well. that was slightly down on last year. that has raised concerns the phone's popularity could be waning. many of the cells were of the more expensive and profitable either an act. —— iphone x. and we put this in context. according to research, global sales of all smartphones were down 9% of the quarter as the market gets saturated. amazon gets almost as much revenue as apple. the's own alphabet also saw its sales soar. —

are the tech giants doing enough? spoke to the senior policy advisor for the counter extremism project from washington. >> not only did you see that russian bots come out in full force after the horrific and tragic events in florida but you , also saw the robert mueller indictment. citing facebook thirtysomething times, twitter and youtube. the tech companies have a number of problems on their hands. the bots try to create division with divisive rhetoric and fake news conspiracy theories. this is not new. the real concern here is that the same tactic and strategy is going to be taken again in the midterm election and the same tactic is also taken by terrorist organizations on the platform. what you are seeing right now is another area that russia is trying to exploit. they clearly have the ability to do so, despite the minor reforms that were made. >> take us through it step by step. i spoke to the researcher of the hamilton 68 project who has been , tracking this and he says it was almost exactly the same as what hap

kpix 5's sandra near the station which would be key for the tech mega campus. sandra. >> reporter: google looking at properties all around the station and parking lots we're standing across the street from it. the city has already reportedly settled on a price for several properties the company wants to. >> reporter: we're looking at powal price tag of 67 million. the city council would need to approve a compensation agreement to even allow parcels of land up for grab for the development. campus 7-8 million square foot complex and bring in 20,000 workers. local recedes dens spoaben out against google with concerns and a homeless advocate said they could have concerns in the area. >> it's a question of their will. i understand that they can't save every community across the country but they can start where they are. >> activists called for google to help with affordable housing in the area and marched on the martin view campus with their message. today's city council message will be a important one. despite the controversy and move forward and will show whether o

that the suspected shooter needed help. could america's social media tech companies had done something to stop it. hello. - hi. how's it going? - alright, how ya doing? - welcome! so, this is the all-new chevy traverse. what do ya think? this looks better than 99% of the suvs out there. it's very modern... sleek. maybe the most impressive part of the all-new traverse... is what's on the inside. surprise! what are you doing here? i've missed you guys. i haven't seen you guys in so long! what's happening? we flew her out. it's a family car, we had to put your family in it! yeah, it gets 7 thumbs up! florida school shooter nikolas cruz appeared in court again today at this time as his public defender is trying to steal records and limit the amount of time he will appear in court for coming hearings. the debate rages on where they could have been stopped before he opened fire. how can washington help prevent another school shooting. let's bring back kevin i think you both for sticking around. kevin, let me get back to you. we have heard word from sarah sanders

a big week with the pressure on tech. t only did you see their russian bots, but last week of the mueller indictment. twitter and youtube all mentioned. that is because the tech companies have a number of problems on their hands. afterts, which came out the florida shooting, with divisive rhetoric and fake news, conspiracy theories. this is not new. but the concern is that the strategy will be taken again in the midterm elections and also by terrorist organizations on this platform. i think what we are seeing is another issue of a tragic school shooting, they are trying to exploit and a saw the ability to do so, despite reforms that have been made. emily: walk us through this. >> i spoke to the researcher of the hamilton project that has been tracking this. he says it is almost exactly the same as what happened in vegas. day one, the bots are re-tweeting breaking news. day two, they are trading -- tweeting implications of the most extreme and divisive issues and opinions on gun-control. by day three, this is when they star

on the website there is a truth around the tech campaign. we will be sending this out to about 80 million users in the united states so we will send out regular updates to people about the campaign but basically if you are if you are go to, common sense.org and we will give you information i can be involved and work with people to spread the message because at the end of the day technology is here to stay, we want to use it widely -- wisely and with common sense in one hour so phones to have the appropriate place in our life not eight dominant place. >> we appreciate you talking to us about your truth intact campaign. -- in tach campaign. >>> another warm day across the bay area. no rain in sight. >> same forecast each day so far this february. temperatures well above the average in record heat. we are looking out in the timing this afternoon. we have our chopper above showing you these beautiful views you can see in the live pictures a bit of haze and scatter high clouds approaching the bay area but wrapping up a very nice work week. tempera

. >>> the s&p tech sector saw its worst daily performance since the brexit vote on thursday. big tech names have led the declines on the index this week. the biggest losers are heavily dominated by the tech sector it looks as though a lot of that move happened yesterday. arjun kharpal joins us on the set this morning we had some really big moves looking at alphabet, apple how much of this is the fact that that market was overcrowded? >> let's take a high-level view and put this into context. let's year a lot of the f.a.n.g. stocks were up nearly 50% over the course of the year even with the pullback they were higher than a year ago there's a sense of quocooling o, profit taking. there's no down that the tech sector does remain strong still. if you look at a lot of the companies, they have huge scale. facebook at 2 billion users, 1.3 billion iphones in the market. many of the companies are starting to monetize users in new ways that's a theme you'll see happen throughout this year there are some challenges, of course that comes from individual names, whether that's facebook and

yes, it is notjust the tech companies. ion taking place with editors and american reporters as well, looking at this topic in a slightly different way. a lot of the things we are talking about and things we are talking about and things like the auto complete function on google. is that fake news7 function on google. is that fake news? it is coming under the enquiry. there has been research that if you type the word due into the search engine, it can lead you toa the search engine, it can lead you to a lot of anti—semitic sites. there are questions over whether they are doing enough. but the use of fa ke they are doing enough. but the use of fake news is not really explaining what is going on here. very diverse issues going on here, not just very diverse issues going on here, notjust in the tech industry but also a traditionaljournalism. it is difficult to find the balance. i was reading today that germany have brought in some fairly draconian laws to tackle this, so if they find something that challenges this, it has to be

the lawmakers are frustrated by the tech giants' failure to provide useful information about outside exit referendum. but the tech companies downplay the idea that moscow used their platforms to disrupt the brexit campaign. a senior white house official, rob porter, is sacked as staff secretary following allegations by his two former wives that he battered them. also on the programme: the us coalition kills at least 100 regime fighters, damascus calls it a war crime — the pentagon says it has the right to self—defence. a major milestone for marvel — the premiere of their first black superhero film black panther. get in touch with us using the hashtag.

campaign because we feel like it is time to raise awareness about the role that techpanies play in our addiction to our cell phones and specifically how that impacts children. we know that almost half of the kids are feeling addicted to their cell phones and it is causing major problems in family relationships. and, so, what we want is bring tech to the table and say that, you know, what can they do to help us solve some of these problems. >> and i am sure you have a few ideas. what would you like to see companies like google, like facebook, like instagram, what would you like to see them do? >> we would like to work with the tech companies to put some mod kaeugdzs in place that we would call our prohuman or for kids, specifically, you know, things that are less pro hibitive and optimize the good things about tech. tech is not going away. we are not suggesting you throw your iphones out the window. we don't want to drive without seat belts anymore. not driving without baby seats in the car. maybe just modifications. >> i know that the word "addiction" has been thrown

hello and welcome to the week in tech. s using facial recognition tech. british mps went to washington to talk fake news with facebook, google and twitter. and virgin moneyjoined lloyds bank in banning customers from buying bitcoin with their credit cards. the cryptocurrency had another fall this week, falling to as low as $6000, before recovering. that's down from a high of almost $20,000 in december. it was also the week that spacex rocket, the falcon heavy, blasted into space. elon musk sent it off with his old cherry red sports car, a tesla roadster, a space suited mannequin, and a david bowie soundtrack on repeat. however, it wasn't all good news for tesla, as the electric car company also posted its biggest ever quarterly cost — almost $700 million. it says it's addressing production issues with its model 3 car. and finally, a 14—year—old has created an app to help people with alzheimer's disease. it uses facial recognition technology to help people remember their loved ones. they can scroll through photos of friends

why the tech world's most conservative billionaire and trump supporter is pulling the plug on the baynd setting up shop in l.a.. plus google's new plan to , limit pop-ups. we will weigh in on the new default the defense mechanism on ads launching in chrome and the punishment for repeat offenders. and the ceo of the biggest supplier of semiconductor hardware expects the industry to keep booming. we will get perspective from applied materials' gary dickerson later this hour. but first, to our lead. billionaire peter thiel is calling it quits in san francisco. according to people familiar with the situation, thiel is relocating personal funds and their 50 member staff to los angeles. according to the wall street journal, the tech world's best-known conservative and trump supporter has discussed resigning from the facebook board. joining us now for more, ellen huet. of course peter thiel set off a firestorm when he supported president donald trump in the first place. there was a big question whether or not he should even remain on the facebook board and a zuckerberg defended him. we will

also won the programme, sci—fi sunglasses. chinese police say their high—technd the viral video that has just won tv moment of the year. live

hello and welcome to the week in tech. h criminals using facial recognition tech. facebook, google and twitter went to washington to talk tech. and customers were banned from buying a bitcoin with their credit cards. the currency had another fall this week, falling to as low as $1000 before recovering. it was also the week that a spacex rocket blasted into space. elon musk sold it off with his —— sent it off with his old cherry red sports club, at ease the roadster, and the david bowie soundtrack on repeat. —— a tesla roadster. it says it is addressing production issues with its model t car and finally, a 14—year—old has created an app to help people with alzheimer's disease. it uses facial recognition technology to help people remember. they can scroll through photos of friends and family and the app lets them know who the person is and how they are related to them. you can also take a picture of someone you don't recognise and the apple try to identify them. now, if you are a film fan, you know that it is awards season an

the best of bloomberg technology. of our topu all interviews from this week in tech. ming up, snap sewers in trading after smashing estimates in the fourth quarter. we write down the company's first earning victory since it went public. after reporting fourth-quarter earnings, the electric carmaker still sees its mild reproduction meeting weekly goals. earnings.eak down with facebookon sandberg. she says the me too movement has gone far enough. after a blow at first quarter, revenue topped estimates for the first time since snap went public almost a year ago. snapchat fourth-quarter sales jumped 72% and 200 and $85 million and instead of active users jumped to 187 million. up 18% from a year ago. we have deborah in from seattle. also, sarah frier recovers snap. what did snap get right this quarter? sarah: they been transitioning their advertising business to make it more automatic, more programmatic. they're selling as automatically which means they could have a better base of advertisers. the price of as have gone down but the volume and the a lot of time people look

it is the tech job, really going to silicon valley, new york and boston. t of the country -- we were in columbus, and ohio is getting in one year what silicon valley is getting in a week. diversity of location, of people. we have so much talent in america. i'm encouraged because i saw also many entrepreneurs from all backgrounds that we really need to get behind and lift this country. i write in the book that google founders larry page really focus on hiring strong women in the early days. lots of incredible women i like sheryl sandberg and yourself. if you look at the numbers today, google's numbers are simply average and facing this big lawsuit from the department disparitybout pay between men and women. what do you think went wrong or what is the lesson? megan: it is in all the companies, we just have extraordinary bias built in. has to justeally make this a very top priority. the leaders of all the tech companies -- all companies care about diversity, but it needs to move from number 20 to number one. it is shareholder value opportunity and important fo

the big drag, the point drag for the tech sector is apple. f the iphone maker are down sharply, on pace for the worst day since june of last year. they are now down about 3.5% after the company did miss the forne unit sales forecast the december quarter, and the disappointing guidance for the ofch quarter confirming some the concerns that analysts have had, and the fact that the average selling price was higher is not making investors feel better about the situation. the shares are lower. also lower, some weakness in the chip sector. if you look at the semi conductor index, it is down sharply, being weighed on by research and advanced micro devices. advanced micro devices earlier this week did report they beat estimates, but there were some concerns around counting changes and the possibility that management is conservative. these stocks tend to selloff when there is a risk off case, such as we have today. we have some weakness here, but the stock of the hour is the biggest percentage loser for the tech sector at this point, alphabet. shares a

and a lot of the people there were tech workers on their lunch break. middle of a working day. i talked to a number of the women working at this club and they said yes, they hear colleagues talking about business. they might go up to a private room together. this is a stone's throw from so many tech companies in the heart of san francisco. and the main point is that so much business in silicon valley, as you said, gets done outside the office, whether it's the strip club or the hotel lobby or the bar. you know, or the sidelines of a conference. and unfortunately, that leads to some gray areas, lines get blurred, and often women can be put in very uncomfortable situations. >> and you mention, i mean one of those uncomfortable situations is a hot tub. and it's not that things necessarily happen in that hot tub. but even asking a woman to wear a bathing suit, wear a bikini and pitch her business in that setting must make a lot of women incredibly uncomfortable. >> i spoke to one particular investor who in fact spoke a lot about his hot tub parties. he soun

l the start up managing 65,000 in gers with room to grow sin tech. mike c.e.o. simple joins us. target audience is millennials, how does the cater to them. yep. our clientele are young professionals that are looking a different financial service than parents and grandparents, where people were xcited investing on relationships. clients are looking for something easy to tuesday. up online and gn download the app. talk about investing caters to the young audience, goals, people achieve with entertaining stories about other people, celebrities, and they deal with their money. emily: isn't the goal to make that's the end idea? >> absolutely. he key for us is thoughtful investing. it's about building up diversified portfolio and plan.ng to your there's a fallacy about nvesting where most people thing smart investing is about picking stocks and winners, data is clear. it's behaviours that set aside investors, our portfolios ecial helping those build up portfolios along with values achieve success. emily: you pralt in u.k., america, what are your plrns for expansion now

. >>> the race to one trillion. tech companies aren growing value, and it's possible one could reach that milestone this year.s >>> sta scams. the irs warns of new cons. and the agency says the schemes are getting worse. those stories and more tonight on "nightly business report" for thursday, february5th. >>> good evening, everyone. and welcome. what a difference a week makes. it wasn't that long ago when stocks were making his totoric a stomach turning drops. but that seems like ancient history. stocks posted their fifth day of gains despite points toward a pick up of inflation. stocks soarth. dow jones industrial average advanced 306se points to c back above 25,000. theasdaq added 112. and s&p 500 was up 32. just as theselloff happen at break neck speed so did theco ry. mike santelli has a look at whether the bulls are back to stay. >> is a five day rally in stocks moving a bit too fast or is this a recovery from t market correction? conventional wall street holds that steep pullbacks usually take weeks or more to rec

week witheen a big the pressure on tech. t only did you see much of us come out in full force after the horrific and tragic events in florida, but he also saw last week the robert mueller indictment citing facebook 13 times and twitter and youtube all mentioned, and that is because the tech companies have a number of problems on their hands. bots whichuld -- the came out after the shooting trying to create divisive rhetoric and fake news conspiracy theories. this is not new, but the real concern is the same tactics and strategy is going to be taken again in the midterm elections and the same tactics and strategy is taken by terrorist organizations on this platform. so when you are seeing right now is another issue area of a tragic school shooting that russia is trying to exploit across these platforms, and they clearly still have the ability to do so despite some minor reforms that have been made. emily: walk us through the tactics step-by-step. selina: almost the exact same playbook that has been played over and over again.

we could be looking at one of the biggest tech ipos in recent years. re, i want to bring in a reporter following this story and our guest that has not been on the show in a while. let's start with the numbers. they raise the devaluation years ago, but they are more likely to target a $7 billion were $8 billion valuation now. what did we learn from this filing? >> confirming some of the numbers they have laid out. that they have 5 million users. when i start digging deeper in terms of what investors will be looking at, yes, that $1.1 billion revenue number looks great, but when i didn't to the -- but, when id in to the user numbers specifically, 500 million registered users is a number that was thrown out in march of 2016, but only 11 million of those users, only 2%, are paying users. when i think about what investors will be grappling with a state decide whether or not to buy into this ipo, is a big question dropbox has continued to have. they have all of the free users. how do you get them to open of -- how do you get them to open their pocketbooks and

according to the wall street journal, the tech world's best-known conservative and trump supporter has discussed resigning from the facebook board. peter thiel set off a firestorm when he supported donald trump in the first place. talk about that, but first, what do we know about this? >> it sounds like he's moving his staff to l.a. and some are staying in san francisco. they are already kind of set appear. here a few house years ago and is said to be just calling it quits. just: is he leaving because he is not well, or why is he doing this? >> not according to what he's told some of the people we have talked to. he's been saying that silicon that there are, economic conditions here that make it very expensive and just not a good place to start a business anymore. , many haveentive is reported he is starting a conservative news network. l.a. is a pretty good place to start a media company. there are a lot of conservative news organizations based out of there like breitbart, drudge. emily: do we know anymore about his media plans? >> it still seems pretty early but he's also looking to

the door. a lot of people there were tech workers on their lunch break. i mean, this is in the middle of a working day. and, you know, i talked to a couple of women who work at this club. they say, yes, they hear colleagues talking about business. they might go up to a private room together. this is a stone's throw from so many tech companies in the heart of san francisco. and the main point is that so much business in silicon valley, as you said, gets done outside the office, whether it's the strip club or the hotel lobby or the bar, you know, or the sidelines of a conference. and, unfortunately, that leads to some gray areas, lines get blurred and often women can be put in very uncomfortable situations. >> we should mention there are some big names who dispute some accounts in her book. including elon musk of tesla. you'll find the entire interview with emily chang on the abc7 news app. >>> tesla is taking on a new challenge. what's called the world's largest virtual power plant. men and women have different snacking habits and it's convinced one major c

as of now, that has been the focus on the tech industry and with the business apparatus surrounding paulafort. fyi, the hearing is at 2:00 p.m. in washington, the hearing at 2:00 p.m. liedt mueller saying gates to the united states on february 1 about the 2013 meeting and lied about ukraine discussions and the 2013 meeting with lobbyists -- a congress member and paul manafort. information that i do not think we knew. interesting to see which congress member and which theyists those are here hearing at 2:00 p.m. eastern. a guilty plea should come then come a correct -- should come then, correct? kevin: it could. the president announced new sanctions against north korea. this comes at the closing ceremonies are set for this weekend. and when the president is trying to lay out the case for the 2018 midterms. the president pointed towards michigan, pennsylvania, wisconsin, ohio in the address and announced a new set of gun control laws -- gun control proposals and says lawmakers when they return from recess next week will take up a school safety package or even mental health package followin

emily: what does it mean for the big internet tech companies? and facebook square have spoken out against the rollback? how much does it matter for them? flowswill see of traffic unimpeded. i know they are not fans with what the sec did and there is a legal battle about the start, and perhaps they will join that in earnest. is a big? . question mark. and there's a counter argument a that, so it is all still choppy battle that is going to continue in the courts and congress and over that fcc in coming years. emily: how do you expect the legal battle to play out? to oneill come back federal appeals court, arguments later this year maybe, and decision first half of next year, maybe. some people have told me, people who oppose that fcc think the fcc wrote a strong order that might stand up because the court tends to give deference to agencies expert decisions. seche other hand, can the proof -- fcc proved they changed enough. emily: touch shields, thank you so much for that update. you to hitting pause on its program spending for streaming services.

you also have the tech jobs. walmart is not just a retail store, it is a logistics and technological center. , i me start off the question want to ask you the question. maybe governor hickenlooper will turn it over. can you talk about the challenges for recruiting the tech expertise that you need in your logistics and tech side of the business? kathleen: absolutely. a lot of people hear the word retailers and think of the store, but we have pharmacists, largest stations, we have supplied people in washington, d.c. we have a massive.com business, a massive e-commerce business with folks from silicon valley to arkansas. there is a war for talent for those jobs. we are recruiting folks every day. colleges and universities, so on. we're also grating pathways from within walmart. where people day can come in and start, then find their way into technology. we have a number of folks who have started that. they started through a series of developmental promotions and became engineers and so on. we are going to need all of

they were something especially in the tech sector the -- that people don't think about. i mean, those names are try right now. the consensus is that these stocks are -- the tried-and-true, high-growth tech names are the ones that will continue to lead wilford search goes overweight on amazon. they go to outperform. 2000 is the up side. goldman sachs put out a list what is at the top amazon next facebook, what's on it? microsoft. what else? baba these are great growth stocks, you can make money on them if you're a value investor, you can find the intels of the world. the ibms, steve, hold your tong for a succeed. the growth is there, and yes, steve, ibm as well now, microsoft, by the way, is right in the middle. along with google, along with facebook these are growing stocks my point being is the reason technology looks so good is there's something for everyone, for every style in investing it should lead absolutely love that. >> go for it i defer all my questions to warren buffett, who exited the position. >> tech is running the world at the end of the day fidget out wha

it's rare to hear from someone at the top of one of these tech giants. i recently spoke to the cofounder and former ceo of twitter, ef williams. he told me he agrees and that something is definitely broken. ev williams, welcome to the program. >> thank you. >> ev, this seems to be almost sort of an epidemic of the founders of these fantastic social media platforms coming out and admitting there's something wrong, something needs to be fixed, you know, that things aren't going as brilliantly as you all expect it to. what happened? >> well, it's a complicated question. i think media in many ways is broken and social media is a part of that. and what's happened is over the last ten years or so is these platforms have gotten very, very big and they're still in many ways very new. and so there's a lot of challenges with them, a lot of things we haven't figured out in terms of information quality and abuse and protecting the freedom of speech while also protecting against abuse. so yeah, there are a lot of problems. there's a lot of good things going on as well

that mean‘s it's edging ever closer to becoming the world's first trillion dollar tech company by stocket's show you the numbers because they are staggering. apple made revenues of more than $88 billion in the three months to the end of december, the all important holiday shopping season. 20 billion of that was profit. that was up 12.6% on the previous year — setting a new earnings record for the firm. apple sold 77.3 million iphones in the quarter. that was down slightly on last year — raising concerns the iphone‘s popularity is waning. but remember — many sales were of the more expensive and profitable iphone x and we should put this in context — according to research just out, global sales of all smartphones were down 9% in the quarter — the biggest fall ever — as the market gets saturated. revenues are up 13% because the iphone tent is more expensive. some analysts might be worried the iphone which is two thirds of the revenue could be stalling. if that keeps going up, the company remained strong. in terms of selling the hardware, there is a saturation point being breached and it is

amazon the new king of tech, guy >> i ask you a question, who was the old king of tech right? i mean it stands -- if they are the new ones who was the old one. >> apple. >> queen latifah has been queen -- not latifah testimony one in england. >> stay on track. >> you could have made an argument it has always been the king of tech this is what sticks out to me and this is we talk about all the time margins. operating mother-in-laws, came in around 3.5% the street was closer to 2%. what does that mean? once again, amazon can turn the dial whenever they want and show profits of that magnitude. despite valuation is it the new, old king it is the king. >> it is the king. >> my opinion. >> do you think it's the king? >> well it has shown signs of rising to the throne for sure. especially versus what the other tech earnings have done not that the others are terrible but you look at something like amazon and you have that big selloff today, a reversal as a trader, i love to see that not only that, now the street is starting to make up stuff like hey they are going to get into search an

i know that you've taken a look and a stab at, for example, some of the leading tech companies. 's very note worthy, i think, that before this market correction and after the market correction, the very large powerful top companies in tech have led the way amazon's been a little bit of a white whale for you. what does that tell new terms of the market's message about the enduring value potentially of these businesses right now >> i think the pricing these companies for global domination. and in a sense, who can blame them i think that these companies if you look at them on a year to year basis, they seem to get stronger as they get larger. unlike prior businesses whereas you got larger, got more difficult to get larger. these companies seem to find it easier to get larger as they get larger and i think the market is building it in >> so do you actually see these based on your own personal investment thesis as value plays given the growth there >> i think of the four big players apple, alphabet, facebook, and amazon apple is the best value play and in that sense, i agree with buff

over leveraged the price earning ratios in the markets today are near the historic highs and in the tech sector the way of budget so yes it is going to be a correction it's way over built it's going to come down and one of the signals that you look for in particular before an economy let's say or a market or what not it's going to start collapsing is a key signal that no one seems to be looking at and this is it when gold prices shine the markets will go red. look what happened over the last week when the markets were going down poof gold was moving down to if the markets were really in trouble gold is the ultimate safe haven asset that they would have skyrocketed and gold can't break over fourteen hundred dollars an ounce and our forecast is that gold has to go over fourteen fifteen an ounce solidify around four hundred fifty four thousand nine hundred sixty and then it's going to take a big coin bounce this thing's going to go to two thousand plus watch gold and gold is the ultimate safe haven asset so when these markets are going to go down go back to see what happened the last time g

. >> plans for the iphone with a big new tablet to attract multitaskers. techelp to drive some of the , a lot of investors will be watching inflation. it is a chart that we're quite there with. the pce which is the most some of piece of data the fed watchers out there say the jay powell might indicate what the fed can tolerate inflation above 2%. and it is a position also held by the minneapolis fed presidents neel kashkari. >> there is a collision course between what was he on the fiscal side of things as well. address the spending plans from the white house. and it is increasingly likely that we will speak about it. what would that overshooting inflation. queen of the market reaction was pretty positive to all the headlines today. the s&p up over 1%, the dow adding on another. nasdaq also higher by over 1%. volume a little bit lower than what was expected. stockith some of the big stories today. >> we had some big stories. ge was one of them in at the ceo came out and said that there might be liabilities for some of the subprime that the company used to be in

we will bring you all the latest in tech throughout the week.we have the former ceo of twitter joining us on monday. tune in every day, 5:00 p.m. in new york and 2:00 p.m. in san francisco, and remember, all episodes of "bloomberg technology" are livestreaming on twitter. check us out weekdays. that's all for now. this is bloomberg. ♪ ♪ >> coming up on "bloomberg best," the stories that shaped the week in business around the world. volatility returns with a vengeance. >> we are on the verge of markets being a little bit disorderly. >> it is a global contagion. >> the first product is blowing up. >> does the week's wild ride signal danger ahead? leaders of finance and monetary policy offer insight. >> the correction was waiting to happen. >> there were people looking for buying opportunities. >> so far, this is small potatoes. >> the u.s. government stays open.

we will bring you all the latest in tech throughout the week.he former ceo of twitter joining us on monday. tune in everyday 5:00 p.m. in new york, and all episodes of bloomberg technology are livestreaming on twitter. check us out weekdays. that's all for now. this is bloomberg. ♪ retail. under pressure like never before. and its connected technology that's moving companies forward fast. e-commerce. real time inventory. virtual changing rooms. that's why retailers rely on comcast business to deliver consistent network speed across multiple locations. every corporate office, warehouse and store near or far covered. leaving every competitor, threat and challenge outmaneuvered. comcast business outmaneuver. nejra: the battle, how successful will they be? a brexit morning, the house of lords warns against fragmentation of european regulation. chief, crypto skeptic in elevating digital currencies to the top of his agenda. what regulatory action could he take? welcome to "bloomberg markets: rules & returns." i am nejra cehic.