a few take-aways for me, the fact that tim cook came on is a powerful statement to me. rarely does interviews, kudos to jim cramer and the team, can you grow again, are you dead? that's the sentiment on the street. for cook to come out and say two candid thing, "a," it's an overreaction and "b," my bad for not communicating the china point on the conference call says something. i'm just saying you don't hear that very often from ceos of very powerful companies but clearly cook cares about what wall street thinks. >> definitely. >> he's trying to turn the message here. what else i noted on the interview in terms of the bullish thesis that cook gave on apple, india. we're seeing double-digit growth in india. kept making the point that they are not the lte mode with phones. the switcher rate, those folks switching from android phones over into the apple system even in the united states and in developed markets which are called mature continues to grow in double digits in surprising ways they see that as an a way for growth. >> and i think it swings back into the next few q

wti, 47 on the nose, up 1.8%. >>> apple's ceo tim cook is in china today. yu is live with a look at the visit. this comes after the big bill-dollar investment in the ride sharing company. good morning. >> reporter: yes, definitely. tim cook was in downtown beijing at the biggest apple store there and accompanied by the president of didi who is the ride hailing app company in which apple just invested a billion dollars. and to underscore the importance of this new relationship, tim cook as well as the president were both in a didi taxi and he was posting pictures of the event on his account. he was holding a roundtable with app developers, one was the founder of another important company here, china's version of groupon, and tim cook was just talking a lot about how important the app economy is to apple. and he was also discussing the government's role in how important it's been in developing the internet. now tim cook's visit was widely expected because of the fact that apple has been facing a lot of challenges as of late. the slowing economy, also the slow

that >> and tim cook's answer to that is, that is why we came out the $400 phone, and india not at thefor quite a few year, but it is that the addressable market of the smartphone is going to grow. that is his side of it, and the investors can make up their own minds. jason, i am wondering what do you think that you mentioned tesla, but realistically, aside from that, what could apple have bought in the last year or two that would significantly add to revenue and earnings, because i hear people say that about the m&a and about facebook and google, and google in particular has done some plenty of bad m, and a as well, and the issue is that the iphone is such a once in a generation product, i don't know what you could buy that would move the needle compared to the iphone slowdown. >> yeah, absolutely correct, that there is nothing to buy today to add massive earnings to the greatest earning machine ever, and so you are the iphone, and the greatest earning machine ever, and you don't compete with that, but the little youtube acquisition, and $1.5 and now it is worth $6 billion, and so you

tim cook, ceo of apple. thanks so much. >> thank you. >> appreciate it. >> tomorrow, kick off the trading day with sidewalk on the street live from post nine at the nyse. >> i'm getting tired of stocks going down. i want to find out what's going on it all starts at 9:00 a.m. eastern. at ally bank, no branches equals great rates. it's a fact. kind of like grandkids equals free tech support. oh, look at you, so great to see you! none of this works. come on in. ♪ no, you're not ♪ yogonna watch it! ♪tch it! ♪ ♪ we can't let you download on the goooooo! ♪ ♪ you'll just have to miss it! ♪ yeah, you'll just have to miss it! ♪ ♪ we can't let you download... uh, no thanks. i have x1 from xfinity so... don't fall for directv. xfinity lets you download your shows from anywhere. i used to like that song. >>> what do we make of new developments in cyprus semiconductor. it plunged to $6.30 in february. since then, cypress has bounced back to $9 and change as of today. the stock is still well off its highs. there's a case

that's why i'm thrilled to welcome tim cook. mr. cook, welcome back to "mad money." >> thank you for inviting me. it is great to beer here. >> a really curious disconnect between what i read and here on wall street about apple and this. if you, it will be an impossibility to pry this from me. cold dead hand time. when i read the stories it seems like people think, it's over. how can it be that you can't have this ever? or the ecosystem, but it's dead. >> yeah. i think that's a huge overreaction. we just had actually an incredible quarter by absolute standards. 50 billion plus in revenues and $10 billion in profits. to put that in perspective, the $tn billion is more than any other company. it was a pretty good quarter. but not up to the street's expectations, clearly. what we're seeing is if people are upgrading at a different rate. a lower rate than they did last year. still higher than the year before. so we had this abnormally high upgrade last year as people bought into the imphone 6. and now we're comparing that with the other t

. >> that's tim cook with jim cramer exclusively last night. the tim cook turn-around. that's what happened today. >> it was very oversold. a lot of negativity about it. it was due for a bounce here. the fact that tim cook had to go up to ec to sit down with jim cramer to get that bounce is a little concerning. if i was an investor, it wouldn't make me feel that well. and get like a 1.5% bounce today. it just wouldn't. i think today it smacks of desperation. >> bounce in a bad tape. >> stock down 10% on the year. >> even in a short-term bounce? i'm saying, was tim cook's reason for doing that interview for a short-term bounce? >> not at all. i don't think he thinks day to day. in the interview he says, i don't even know where the stock closed. i give him that credit. it doesn't have anything to do with tim cook. >> the stock had its worst losing streak in some 18 years. was down eight straight days before today. the premise of the question and the answer was, did the street get it wrong on the earnings? tim cook said essentially yes. >> he said yes, i say no. the earnin

exactly what are the plans for tim cook and apple? so, apple is -- we met tim cook this morning.ll he said was, we are here to learn, and we are not sure what that means. they are trying to break into the market. the market is dominated by the sub-$200 smartphones. apple would have to play in that market. they don't really have a product at that price point at the moment. if their plan to sell refurbished phones goes through, that would allow them to play a much bigger role in the market than they are at the moment. still, they are growing pity fast -- pretty fast, 56%. mark b.: thanks for joining us, siddharth philip in mumbai. pressuread, burberry, mounting on the chief executive to boost sales. details on their plan, next. ♪ mark b.: live from london, i am mark barton. bad news for burberry. ed 2017 profit expectations for the second time in a month. analysts reduced profit estimates. they hit a four-month low. joining us, andrew roberts. tell us about this multiyear turnaround plan. andrew: good afternoon, mark. a rpretty grim reading for burberry. they announced a plan, in s

we are back on the "halftime report" apple ceo tim cook speaking out to cnbc's jim cramer say tag the street has it all wrong as the stock is seeing the worst losing streak in almost 18 years. >> i think it is a huge overreaction. and look, we had, actually incredible quarter by absolute standards and $50 billion in revenues and $10 billion in profits, and to put it in perspective, the $10 billion is more than any company make, and so it is a good quarter, and not up to the the street's ek -- expectations clearly. >> and what do you make of tim cook telling mr. jim cramer? is the street getting it wrong? >> no, because they are look g fing for the growth opportunity in the near term and not seeing it. no visibility on it. is the street going to get it wrong longer term? yes, they are, and that is why there is a name that you want to own and not trade around it. and can it fall behind 90? yes, absolutely. it is my mantra as well, because i have made the mistake in years to be the idiot of trading around apple and losing a ton of money doing it. and don't forget i called it a generation

more of tim cook's interview by jim cramer. we will break it down with the dow close to session lows again at 105. [ male announcer ] eligible for medicare? that's a good thing, but it doesn't cover everything. only about 80% of your part b medical expenses. the rest is up to you. so consider an aarp medicare supplement insurance plan, insured by unitedhealthcare insurance company. like all standardized medicare supplement insurance plans, they could save you in out-of-pocket medical costs. call today to request a free decision guide. with these types of plans, you'll be able to visit any doctor or hospital that accepts medicare patients... plus, there are no networks, and virtually no referrals needed. join the millions who have already enrolled in the only medicare supplement insurance plans endorsed by aarp... and provided by unitedhealthcare insurance company, which has over 30 years of experience behind it. with all the good years ahead, look for the experience and commitment to go the distance with you. call now to reques

roadmap begins with tim cook. he joined jim on "mad money" last night covered everything from innovation to china to revenue to the company's value. global data driving futures. we'll tell you what to expect on wall street today. and shares of aig down in the premarket after earnings. peter hancock will join us live. >>> first up, tim cook defending app apple's latest results and the stock mired in a slump. he was on with "mad money" last night. >> if you talk about macroheadwinds, difficult compares dominant. >> yeah. >> currency, no new iteration yet. if you're going to be opportunistic wouldn't you say let all the hedge funds blow it out and then we'll make a statement? >> well, opportunistic to me means you buy it when you think the company's undervalued. we believe the company's undervalued. >> all right. i got to get your thoughts on what he said and whether it changed your view in any way, whether it should change other people's views. >> i think if you want to take a longer term view, it should change your

we are getting tim cook, pictures of tim cook in beijing visiting the ceo of a company which apple just invested in. what do you think apple has to gain from this investment? >> well, i'm not sure exactly how that investment is going to play out in terms of rate of return. i suspect it will work out well. obviously ride sharing services are a huge deal all around the world. i think the reason for the meetings in china are much more basic. i think the chinese government has turned the screws down a little bit on apple over the last few months and i think cook is over there to try to see if he can't strengthen relationships, create a more positive tone for business. he's going from there to india where i think he wants to do the same thing. you know, these meetings, he's like a head of state when he goes over there. it's a really really big deal because i believe they have 800,000 employees working on apple products so apple is a huge employer in china and obviously, they desperately need the chinese government to at least give them a neutral playing field to operate in in order to allow

apple's ceo tim cook appearing on "mad money" with tim kramer.ed on the importance of china. >> here's what we see in china, is that the middle class is booming. about 15 years ago, there were 50 million people in the chinese middle class. five years from now, that number is going to be almost 500 million. this is unprecedented growth. >> i parsed every word of your last conference calls. you did not talk about middle classification which made us feel like something was wrong? >> no, that was my error. the long-term thesis is intact. there has never been like it in the history of the world, i'm still as optimistic as i've ever been. >> joining from us beijing, with more on the importance of china for apple, and you probably know better than we do, eunice, about what we don't know. and i just -- i would never underestimate the engineering and innovative components of 1.4 billion people. and i know china's a huge market. i just don't know that it's always going to be apple that's capitalizing on that market. i think it's kind of reflected in the st

. >> i one der what tim cook thinks of all that. we have peter from empire executions joining me on the floor ott the new york stock exchange. big decline last week had them saying that. there's some skepticism today. where are you on that? >> right now i would say this is a mediocre rally. if you look at it, they're almost equal, so to me that says -- >> hardly some conviction there. >> there's not a lot of conviction. i do think we'll have an opportunity again. maybe not that level. but you're going to see a pullback at some point. >> you can't look to oil. >> not yet. you're seeing the divergence, the disengagement, today especially. we're seeing it more and more. and i think what ends up happening with that is that it's less part of the conversation. so when people aren't really talking about that, how they trade, you know, in lockstep, then it becomes a nonissue. >> we're at 2081. starting to levitate a little higher here. you want to see a pull back before adding to positions. >> i don't think we're going to see the 1806 level

tim cook has to ask himself two questions. you on the right or wrong side of history and apple as a major corporation, and how is this going to play to the american public regarding the fact the chinese are a global competitor and will he do things to undermine our ability to challenge the chinese to make sure they don't get an upper hand where the united states? jo ling: we'll bring you that meeting as it unfold in china. >> the cupertino mayor barrie chang wants apple to help pay for it crumbling infrastructure. apple's taxes to your town account for 18% of your total budget. how much more in taxes do you want apple to pay? >> i want them to pay $23 million a year, which comes out to $1,000 a year to help solve the traffic congestion. they are making money, and then they work hard to do it. but can they pay a little bit more to helped the community, in my opinion yes. our teachers and firefighter and police cannot afford to live in this area because this high-tech company came in, the price went up and they got squeeze out.

for now what we are hearing and confirming is that tim cook is definitely in beijing. he's been on a charm offensive. today he visited one of apple's main stores in downtown beijing and he was accompanied by the president of the ride hailing app company in which apple invested $1 billion, didi chuxing. he as well as the president took a didi taxi to the store. and when they were at the store, they had attended a roundtable of app developers including the founder of china's version of groupon, and apple's ceo also was talking a lot about the importance of the app economy and app developers here for apple as well as the importance of the government's role in developing the internet. now, tim cook's visit has been widely expected here because the company has been coming under pressure seeing a lot of challenges as of late. not only is the economy here slowing down and you're seeing a much more bigger competition within the smartphone business, but they are facing regulatory issues. the regulators clamped down on apple's itunes as well as ibooks recently. and the company l

tim cook travels to china.ew doors for the company. >> and super mario comes to life. forget hand held devices on the wii. they could hit the movie business. the final hour of "squawk box" begins right now. ♪ >> announcer: live from the most powerful city in the world new york. this is "squawk box." >> all right. welcome back to "squawk box." we are on cnbc first in build worldwide. our data point of the hour is the may empire state survey. that's due at 8:30 eastern and rick will join us with the number and the market reaction. u.s. equity futures right now indicated for a slight up about 20 points or so. european equities this hour germany is trading but you can see spain, france, ftse, italy. only italy slight gains. >> did we think about that when we were -- >> other people seem to be able to manage it. i don't know. >> it's just mike and rick might be. >> yeah. >> that's true. >> goldman sachs says that the oil market ended almost two years of oversupply and flipped into a deficit. the firm said its change

what did tim cook tell our jim cramer about that sell-off? we'll hear the exclusive comments right after this break. >>> plus, stocks at 52-week highs. a top technician said they're going even higher. >>> charlie munger calling the actions of valeant demeant. what did big ackman have to say to that. we'll play the clip from the interview that all of wall street talking today. we needed 30 new hires for our call center. i'm spending too much time hiring and not enough time in my kitchen. (announcer) need to hire fast? go to ziprecruiter.com and post your job to over 100 of the web's leading job boards with a single click. then simply select the best candidates from one easy to review list. you put up one post and the next day you have all these candidates. makes my job a lot easier. (announcer) over 400,000 businesses have already used ziprecruiter. and now you can use ziprecruiter for free. go to ziprecruiter.com/offer6 images, videos, social updates. we call it dark data. 80% is invisible to most businesses. the ibm cloud has tools that can

tim cook talked about that. and he also ran the autism commercial last night that was amazing, you know, for those who have that terrible disease. apple's trying to solve that. >> we're going to talk more about their music revamp a little later on. >> but desperate? come on. >> we'll get the opening bell in a few moments. we'll count down to that with cramer's mad dash. one more look at this premarket. futures down an implied 80 points. we're back in a minute. ♪ (music plays throughout) ♪ uh oh. what's up? ♪ ♪ ♪ does nobody use a turn signal anymore? ♪ what's going on here? i'm val, the orange money retirement squirrel from voya. we're putting away acorns. you know, to show the importance of saving for the future. so you're sort of like a spokes person? more of a spokes metaphor. get organized at voya.com. ♪ >>> the mad dash. it's hump day. we got about six minutes before the opening bell. we're going to talk a little zillow. >> call me spencer. >> yes, spencer. >> i'll be spencer for a moment. so this was a rem

today's announcement that perhaps another hint of apple's larger strategy moving forward, tim cook has said he's more interested in the software aspect of it. finding ways to connect that smartphone with infotainment, in-car experience. there's speculation whether apple is building up their own driverless car. the timing of this is very interesting, considering that tim cook will be visiting china later this month. akiko fujita, shanghai. >>> hackers strike at the heart of the global financial system. wooerl we'll tell you what they did and what it means. >>> an anti-counterfeiting group has suspended ali baba's membership. the international anti-counterfeiting coalition told members it had failed to inform the board about conflicts of interest involving an executive of the group. member companies had recently pushed back against alibaba's inclusion which some view as a marketplace for fakes. gucci america, michael kors and tiffany left the coalition because of alibaba's involvement. >>> facebook ceo zuckerberg defending against accusations of political bias which we told you about ear

kim -- can tim cook change that? iphones will be a no go.gainst the grain of the policy on promoting foreign investment to our companies to come invest. the potential is quite high. apple's biggest challenges they do not have a big offering in the low end of the market and that is where demand lies. not feature in the top 10 smartphone sales. heavily tovesting get a piece of that pie. it has been ramping up its distribution and putting in place the management team and strategy in place. the details will be fine tuned but tim cook is there this time around. yvonne: thank you so much. joining us live from him by. exited and a possible making headlines and this is having an impact on the markets. today they are talking about strength enough you have to protect yourself. where do you go? they say go for $200. and exit this comes up gold. you buy swiss franc word do you buy gold question the work in $1400 possible target. his message was pretty clear. there are huge risks it play. yvonne: thank you. that is it for us here. manus: we will do it al

. >> when we come back, tim cook's -- apple's tim cook met with india's prime minister and gave a revealingerview over the weekend. we'll talk about what he has to say about possibly lowering prices, also some of this news regarding taiwan suppliers on the iphone 7. also ahead the race for president heating up, goldman says that could be a good thing for some stocks. look at the premarket s&p down 0.6 for the month. we have not had a down may since 2012. more "squawk on the street" from the nyse in a minute. ♪ ♪ (charge music) you wouldn't hire an organist without hearing them first. charge! so why would you invest without checking brokercheck? check your broker with brokercheck. there's no one no one surface...e. no one speed... no one way of driving on each and every road. but there is one car that can conquer them all. the mercedes-benz c-class. five driving modes let you customize the steering, shift points, and suspension to fit the mood you're in... and the road you're on. the 2016 c-class. lease the c300 for $359 a month at your local mercedes-benz dealer. >>> tim cook met with prime

we have a guess that says apple really niece elon musk to replace tim cook.n "power lunch." this clean was like, pow! it added this other level of clean to it. it just kinda like wiped everything clean. my teeth are glowing. they are so white. i actually really like the two steps. everytime i use this together it felt like leaving the dentist's office. crest hd, 6x cleaning, 6x whitening. i would switch to crest hd over what i was using before. >>> sharing of tesla are lower today despite meeting earns expectation and bullish outlook. on the conference call last night elon musk talked about production of the new mowedle 3. >> would aim to produce 100 to 200,000 model 3s in the second half of next year. that's my expectation right now. >> as tesla ramps up production, does it make a more attractive takeover? he thinks apple should buy tesla and make elon musk the ceo. and also drew cu p. ps. this is a pretty tough thing to say. what you think is basically that tim cook isn't good enough and elon musk would be better for apple? >> yeah, tim cook is a great oper

commentsows tim cook's about wearables at the start of fest in amsterdam. e believe health is something that is a huge problem in the world, a huge issue, and forhink it is right simplicity and a new view. we would like to contribute to that. an area where we are very focused. emily: so what are some of those key health features in the new pebble products and how will they stack up against the competition? to us.ble ceo to join what is new? created our first non-smart watch product. you can clipclip on and go running without your phone. it does modify streaming and tracks your run using gps and can send an emergency text. emily: how is this better than a fit it or ipod? eric: it is a little bit different. it's meant to do it different and then your phone would do. this is aiming strictly at the running market. not have a heart rate monitor, but you can sync it up with the watch? eric: this clips onto your shirt and it has a heart rate monitor built in. the watch has sensors that learn more about your personal body. what iteration is this? eric: this is our s

well, tim cook is on a charm offensive.pple's main stores in downtown beijing, and he was accompanied by the president of didi -- this is the car hailing app company that apple invested $1 billion in. so just to illustrate the importance of this new relationship, tim cook got up close and personal with the app. he and the president of didi, jing lu, shared a didi taxi. they went to the store together. and he was posting pictures of his experience to his wabo followers of which he has 800,000. once he got to the store the two took part in a round table discussion with app developers including the founder of another important chinese company, the chinese version of groupon, it's . he was stressing mainly the importance of china's app developers for apple's ecosystem who is also talking a lot about the importance of the government's role in developing the internet. now, tim cook's visit here was widely expected because of the challenges that apple faces here now including the slowing economy, more competition and the smartphon

lisa: tim cook must know this.s he going to do to address the fact that there is disparity between the price point that indeed consumers are willing to pay and what apple is willing to sell for? harsha: they have to have a completely redraw map. it cannot be a cut and paste china model for india as anand was pointing out. two interesting points. they don't have a regional this division strategy here in india. also, it is a completely competitive market. samsung owns a majority of the market. the average price of an iphone dollars compared to an average smartphone that costs $135 so this has to be a completely customized playbook written for india with a partnership as far as distribution and marketing is concerned and more importantly, reworking the pricing and strategies as well here. the last point is, you have to understand the india is all because of a 4g revolution. early adoption of 4g technology would mean more smartphones, and that is exactly what apple is hoping to bite off. david: apple is on a march to g

. >> as didi chuxing has been talking about the meeting with tim cook, and she says that she has nothe company long, but she is looking forward to future collaboration, and this is what she said. >> i was joking with the team, because it feels like a speed date. we got to know the apple team, a and they got to know us not too long ago, but we click very qui quickly, and because the two companies share at lot of the similar philosophy, right? we both care about the community, and we both want to have a collaborate and inclusive culture about the company culture, and that is going to give a lot of common ground, right? and in the same time in china we actually share a huge overlap in the customer base. our driver base and the passengers, they use apple and iphone a lot, and the ipad, so it is very intuitive. >> like many chinese companies, didi has scale. most of the analysts believe that didi has at least twice the market share in the private car hailing business compared to uber here. uber has about 50 cities and growing fast, and the company has said before, it believes that uber, i

then there is apple and tim cook. i defy you to, it was right in line. as for apple's guidance. what was cook supposed to do? make up a forecast that showed better number than he can deliver? given what apple has in the i'm that line, cook had to do what he had to do. he had to reset expectations for the colonel quarter. he was not going to give them what they wanted. a pre packaged obituary for the iphone. somehow the so-called analyst community was disappointed. well, excuse tim cook for believing in himself. i think earning $10 billion in a quarter gives you some justifiable confidence. how about fit bit? what can i say? james park should be banned for making any projections about his company. his stock would be a heck of a lot higher. the quarter was actually used. it was much better than expected. the devices are truly loved. the guidance was inexplicable. park slashed the projections dramatically and then beat the numbers last night. he cut his earnings forecast from 23 cent down to 0 to 2 cents range. so the 10 cents was delicious. in reality, i think these numbers mean no

tim cook puts $1 billion behind uber's biggest rival in china.s underneath the opening bell. i am alongside amanda lang and jonathan ferro. wonderfulu brought us material back from the conference in vegas. jon: it is one of those mornings when journalists spent yesterday writing these stories. david: then the facts come in. you the official data tells another thing. here is your financial scorecard. theyes deep in the red and trim some of their losses and they are rolling back over again. dow futures -48 points. europe, ftse is poised to close for a fourth straight week of losses. the fx market, stronger dollar story on every cross. we stay there. the u.s. 10 year yield, going lower again. wti, the highest close since november. a little bit of a reach race meant. matt miller. matt: we are watching shake shack. they got a boost from adding more stores and sandwiches. 33% boost in locations. it has a new chicken shack sandwich that i intend to try today. that brought more buyers into the chain. same-store sales jumped by 10%. club, down 47% this we

tim cook of apple kicked off the proceedings. he spent a great deal o time talking abouteciv issues. >>> we think if you send message, we're more likehe fed ex rr right? we take thegeealed and bring it over. an that's our point of view t's notoif view. it's a pointf vi we've hadnde' constantly added more and more security. and i reali teple have a dnt . bue the peoe that do at least understand where we're >> reporter: i got the chance to speak to the alphabet changer rick schmidt. we talked about today's court case between oracle and the company and he says if the ruling goes in oror there's only one loser. >> p of the open source veme. t r hurts oracle. because they own java and they ed p it into this world. and it just doesn't make sense to me that they're in that path. >> reporter: i couldn't let eric leave without talking about u.s. politics. it's common knowledge he's cking a startup that's looking at data analytics for hillary, the same for president obama. i picked up on donald trump's recent comments that data is overrate

plus, tim cook is finishing up that big trip to india. we'll have details. >> catchy tune. >>> meanwhile, bowing inking an $11 billion deal. with the arms embargo lifted we'll tell you what other defense stocks could be affected by this as the president continues his affect through vietnam. >> a big win for bank of america and the justice department. they'll no longer have to pay $1.3 million for a countrywide mortgage stamp. let's start with the gains for apple and its suppliers today. bertha coombs monitoring it. >> apple accounts for all of the gains that we've seen on the nasdaq 100 right now. tim cook continues his charm offensive in india, the rest of asia. analysts are getting a little less bullish. the iphone 7. that has chip stocks up. among them is universal display. they make oled and goldman today is upgrading that stock from a buy to neutral sending those shares near a one-year high today. goldman thinks with some of its proprietary research that apple is going to be using more ole displays in its new phones and devices start

u mean, last year tim cook was asked about whether the iphone replacement cycle was accelerating andhe iphone 6 was pulling forward the users, and he said not really, and then on this earnings call they did talk about the fact that there did appear to be a k acceleration in the replacement cycle and this year, a commensurate fallout. so there are some incongruities that we observed in the earnings calls. and look, apple is facing both structural and cyclical issues. because on the structural side, it is becoming more mature, and last year, you did have a boon year, and that is set upping in difficult comparable. >> when the 7 comes out, and assuming it is called the iphone 7, and does this cycle reverse the trend in the stock or do you expect more pain through perhaps the next cycle as well? >> well, that is the big investor question, because it is at least from the what we know about the 7, it is not a groundbreaking device in terms of the new form factor or strong incremental new feature functionality, and so that the worry among the unves or thes is that this could be another reas

and joining us with the highlights from that visit with tim cook.er: good morning, sara, i'm outside of headquarters of didichu zing. she was playing host to tim cook. they've seen countless possibilities for future collaboration. this is what she had to say. >> joking with my team, it feels like a speed date. we got to know the apple team. they got to know us not too long ago but we clicked very quickly because the two companies share the similar philosophy. we both care about community. we both want a clabive culture. that gives a lot of common ground. in the same time, in china, we actually share a huge overlap in customer base. our driver base, our passengers they use apple and iphone a lot, ipads. so they're intuitive. >> reporter: and just like with so many other chinese companies, didi has 300 million users. 14 independent drivers. 11 million trips a day. but the company from their perspective is just getting started. this is what she said. >> right now, we have coverage in 400 cities in china already. as we mentioned we have completed 11 mil

tim cook's trip to india may not have paid off.y are not going to be able to open retail stores in the country. this will be the year that the iphone takes off in india. is the group vice president and senior analyst. thank you so much for coming in this morning. we are seeing that investors may not be confident. 27% do you seewn room for upside? yes. nehal: is the growth market so slow that you can no longer get growth out of the iphone. that does not matter. where they do well is once the s-curve,aches the that's when they gain market share. that means more than incremental users. they gain shares at that point in time. they are going to be gaining shares. in india, they are still at the very early portion. they do very well. that's when you have high income individuals adopting a technology. they will do very well over the next couple of years. become very price sensitive users. right now, things are lining up extremely well for the next couple of years. shery: what do you mean by that? when we saw their recent report, we found

tim cook kicks off his first visit to the continent this week. global iphone sales have dropped for the first time since coming onto the market since 2007, apple sales in india are blossoming, growing by 56% in the first three months of 2016, compared to the previous year. analysts say the company is shifting focus in asia. >> the chinese economy itself is slowing significantly, and apple will need to look to other markets. india is obviously a highly populated market with a growing middle class, and there is opportunity there. but it is not growing as smoothly as china did during its growth to. >> smooth growth is not the only -- shops across the country are mostly small and family-run. their owners say the lack of customer interest, coupled with the high price of the handsets, means they stock few iphones. in general, households have smaller incomes, and many shall that apple is out of your price range. of all iphones sold in india last year cost less than $100. let's take a look at some of the other stories we are tracking now. all exports out

tim cook continuing his tour around the world. his latest stop is india. over the weekend he met with the prime minister modi discussing everything from manufacturing to retail in that country and laying out his plans for india's market. also gave this extensive interview to india nd tv where he said he could see lowering prices in that country. >> i recognize that prices are high. what we want to do things that lower that over time to the degree that we can and so we are looking at a number of different things. what we wouldn't do is lower our quality bar. >> of course, one of the bigger stories today might be the projections, reported projections for iphone 7 production as has a lot of the suppliers up today along with apple. >> yes, indeed. barron's did a write-up of it about 70 million phones where some had expected mid 60s production-wise. that maybe goes to show apple's confidence in maybe what it's got in the iphone 7 versus actual demand. what i think is interesting, there's a tension between local manufacturing and local invention versus american

taking over the legacy for steve jobs, and this is what he said. >> well, i think that tim cook is a great ceo, and steve jobs always thought that he was great, but the question on apple, and i have no inside information now is that every four or five years beginning in 1998, there was, oh, my god, i didn't know i needed 5,000 songs in the pocket, but i can't live without this absolutely thing of beauty the ipod, and then the iphone and the ipad, and i am looking for the next big thing and i mean, i got the watch, but i don't use it so much, and the watch is not the next best thing, but we have to look and say, what is the next breakthrough they will have. >> and interesting thoughts from mr. isakson who wrote the book on steve jobs. is that what this is all about? that not the having the next big thing, because the 7, they believe it is the next big thing even though it is the same thing, but it is big >> that is why it is trading cash 8 times the earnings, and don't act like jobs or zuckerberg or bezos is running it. it is not valued like a big innovator, but a hardware company at

. >> and kara with the week of diplomacy, you have are tim cook out of china, and india nashgs and markworking with the leaders after the the dust-up, and did we learn anything about mark zuckerberg that sheds light on what we expect with the hedge funds being in the company, and perhaps a control company, and the hedge funds will have less of an impact, but is this a chief executive and co-founder who is more prepared than typically to handle that kind of pressure from the market? >> well, i think that he doesn't have to, right? because of the way that the stock is, obviously, but he is a measured person. i spent some time with him recently, and he is more mature than ever. it is an interesting growth for the ceo of anybody i have seen in silicon valley. you know, i think that this meetings with the conservative groups was a little bit of the show just to assure them that, you know, they react quickly when people have problems with them. he is down the middle. you know, he is not going to be doing something like tim cook did with the federal government, and you won't see something like

didn't help when we heard news that apple chief tim cook will visit china and officials in beijing next week. china has been an area of concern for apple. a bit of a dubious outlook how successful he can be talking with beijing. also just wanted to mention jcpenney. not having a great day. report in the "new york post" citing an internal memo. they claim they have from penney's saying that the department store taking drastic cuts to try to save expenses this month including cutting payroll. freezing employee overtime. apparently light sales in april are the culprit. but there you go, penney's down more than 7%. not a great day for them. gold by the way, very quickly, as soon as we got jobs report, gold shot up. gained 21.70, to settle just under 1300. melissa: ashley webster, thank you so much. david? david: gold, gold, gold. that is what we're all wearing today. we're waiting another one of donald trump signature hangar rallies this an airport in omaha, nebraska, where he will speak shortly, maybe today. he will tell audience to vote in tuesday primary. gop front-runner shocked an audi

tim cook starting his first trip there today. where having a look at all this.scheduled to be meeting with the prime minister. he is flying in from beijing. tim cook is hoping that india could be like the success they have seen in china. unveil a lot of plans, in particular a development center for digital acceleratorl as an program when it comes to ios developers in bangalore. the softwareuild coding community, something he did and china. so these countries feel included in the process as well. the thing is that apple is going to find india a different kettle of fish compared to china. regulatory , so retail stores could be high on the priority list. they could see tough local competition as well. rishaad: not just the usual suspects. .vonne: some local names apple does not make the top 10. they take 2% of smart phone sales. when it comes to price, indian consumers are very sensitive and don't want to pay too much for the latest gadgets like we see in china. isparticular, the iphone se more than triple the cost they average consumer in india wants to pay. someb

tim cook kind of miss the boat on that one.tim cooked talked about this fall, iphone 7 didn't spill the beans too much. that could be a turn around time. a lot of analysts look that that full and gives predictable lift to the phone. neil: latest phone didn't do it. >> the fall didn't come until the spring quart ir. a lot of people still use iphone 5 and iphone 4, who are due for upgrades. they haven't made a upgrade waiting for the iphone 7. we're watching apple watch clearly. it hasn't been doing poorly as originally forecasted. neil: but they never break out the sales. >> there were a lot of analysts and also investors, carl icon one of them, waiting for apple tv. >> he bailed. neil: he bailed. is there any, you talk about political headwinds, might be nothing, donald trump railed against apple outsourcing jobs. all saying jobs better come back here. it is not the type -- >> not only one that does that as a contextual point. neil: president trump, worst guy in the white house for an apple could be donald trump? >> it could be

the ceo, tim cook, reportedly planning on visiting china again this month.le are actually down for a third straight day. the lowest level we have seen since august. tim cook has been making these trips since china. the property staff, of course. people participating in china. given the slowdown. we will be right back. much more. including a look. what it means ♪ trish: only 160,000 jobs were added last month. let's put this into perspective. it is nothing. you need to be adding at least twice that. inflation in the population, that is. you need to add more than 300,000 jobs a month. we are not doing that. we are now at the lowest level then we have been in since september. now looking at this statistic. the labor force participation rate. the number of people that say they are looking for jobs right now. well, that is that the glow is level that we have seen since the 1970s. you have people basically giving up. i cannot find a job. why will i keep looking. you find some other means. giving up on work altogether. the president says our economy is doing well.

it also came in just teed of president of the company met tim cook only about a month ago.nd it could be a public show of goodwill to the chinese government. we will discuss what edge this didi in its battle with uber. brian white defended his buy rating on apple on "surveillance" this morning. guest: it allows apple pay to spread through china. it builds up goodwill with the chinese government and it's an interesting area and there's a on of discussion of apple this course. brad: joining us, an early investor in didi and bloomberg reporter alex webb, who covers apple. this is an unusual deal for apple. what did they do it? in china, apple has lagged behind the public support and building that the chinese government expects that companies from outside coming in should be a part of. achieving this is a positive for apple. it's very, very visionary. are: some people interpreting this as a show of goodwill. why does apple need to show goodwill toward the chinese government? it's a very big market. kong,iwanese, hong earlier -- now with the americans and europeans, this is a st

apple and tim cook remain bullish on china, but there are signs that demand is slowing. just take a look at this bar chart. sales in the latest quarter in greater china falling by $4.3 billion. that's in the second quarter and now apple is looking to india for growth. currently the world's fastest growing smartphone market with an emerging middle class and compelling demographic trends. you're talking about a young -- young audience as well. tim cook, the ceo of apple mentioned that when he spoke to jim cramer. >> india today has about 50% of their population at 25 years of age or younger. it's a very young country. people really want smartphones there. really want smartphones, and this year the first year lte begins to roll out. huge market potential. >> okay. but india has only roughly 2% of india's smartphone market, but a growing number of skeptics say india will be challenging to break into. first off it's a crowded market, competition, samsung and micromax offering more cheaper and cost effective options. some are sold under $200. analysts say price point is such a

why did it take so long for tim cook to visit india?> they had a great run in china and they have been busy there. india is a country where there are a lot of barriers to entry. one of the things cook is trying to negotiate is to expedite the process of being allowed to open new apple stores, which the government has to approve. they have a lot of laws that prefer products made in india. there are a lot of barriers that don't exist there. it's a very nationalistic kind of government, but i think the opportunity is huge. but price is a gigantic challenge for apple. emily: part of the hope is that apple can open apple stores in but what difference will it make if the phones are four times more than what customers are willing to pay? >> that's why they have to play the game across multiple dimensions. it is an aspirational brand. western brands can be very popular in india they will be most popular with the richest people and the most demanding customers. what they need to do beyond that is attractive À la persist start to target, as we've