we talk about apple pay. apple pay for e-commerce is a really important thing. the idea you can go to groupon using your thumbprint so groupon never gets here credit card,, that is a big deal. ipad-specific use cases are starting to bubble up. >> you caught up with people at the event, including gene munster. >> we had a little tim cook tim, not caught on camera, and also some gene munster time., listen to what he thought about today's announcements. >> a lot of increment of things. there was a little surprise in terms of apple pay. that was the real news, how much progress they made in the last month. >> did you wonder when they would come out with it? >> we expected it in the month of october. 10 500 banks and retailers, the mid-more progress in two months than ebay has at point of sale. >> but that was not point-of-sale, that was connection to the banks. >> the 500 was the banks, but they announced 10 additional retailers at point-of-sale. that is the piece ebay has had a tough time with. >> why do you think that is? is it really the name brand of apple, for

apple says apple pay will start on monday. it has also introduced the new ipad air 2, the thinnest tablet in the world, they say. how important are these announcements? joe brown is here from "wired" magazine and paul kedrosky is here, along with john edson of lunar. this will allow for burst selfies, so not just one selfie in a row. think for a tablet selfies need to be that much encouraged. >> wi-fi and other things -- >> it is easier to unlock the bigger iphones. important for authenticating. touch id is a big deal. faster wi-fi is very good because people are using them as laptop replacements. thinner. they say you can stack two on top of each other and it is still thinner than an original ipad. >> paul, are you still feeling meh? >> i am still meh. it has not changed very much. they are going on relentlessly about thinner as if it is the only thing that matters in the universe with respect to tablets. none of this changes the fundamental problem which is the purchasing cycle for tablets is much slower than phones. making

we talk about apple pay. apple pay for e-commerce is a really important thing. the idea you can go to groupon using your thumbprint so groupon never gets here credit card,, that is a big deal. ipad-specific use cases are starting to bubble up. >> you caught up with people at the event, including gene munster. >> we had a little tim cook tim,e not caught on camer, and also some gene munster time. listen to what he thought about today's announcements. >> a lot of increment of things. there was a little surprise in terms of apple pay. that was the real news, how much progress they made in the last month. >> did you wonder when they would come out with it? >> we expected it in the month of october. the 500 banks and 10 retailers, the mid-more progress in two months than ebay has at point of sale. >> but that was not point-of-sale, that was connection to the banks. >> the 500 was the banks, but they announced 10 additional retailers at point-of-sale. that is the piece ebay has had a tough time with. >> why do you think that is? is it really the name brand of apple, f

we have apple earnings. apple is not only one coming out with earnings. we have chipolte and some others as well. texas instruments. we have very busy hour. fasten your seatbelts. "after the bell" starts right now. liz: as we wait on both chipolte and apple let's get to today's market action. joe durant, united capital ceo, here to toll you why you should stay away from the very thing a lot of you are attracted to right now. not brad pitt but treasurys. bob phillips, spectrum management group, says why you should be wary of small caps so stay away from those. peter kenny, warns of more volatility in the next couple weeks. bob iaccino in the pits of cme. we begin with you, bob. ibm we know what happened this morning. they missed, they warned, it was a total mess. look at the dow in the last final hour, crossed the unchanged line 12 or 13 times. it was really trying and made the grade here. what does that bode for tomorrow? >> i think one of the things you have to worry about is the way that the s&p and nasdaq are behaving right now. they're doing this litt

. >>> how about them apples? apple beats the street with strong demand for its iphone and says next quarter will be even better than it expected. >> third quarter earnings were disappointing. they weren't what we expected. we saw some slowdowns. >> big blue bummer. ibm's latest earnings were not what the ceo expected. she also ditched the company's profit road map, dumped its chip unit and by the end of the day the stock had its lowest close in three years. >> but should you own it should should you buy it here? one of our guests who recommended ibm shares is back to answer that question again tonight. all that and more on "nightly business report" for monday, october 20th. >> good evening. a lot of buzz on wall street today about the disappointing earnings from tech bellwether ibm, sending shares of big blue tumbling and nearly wiping out the modest gains made in the dow today. we begin tonight with the after the bell earnings from another tech giant, apple. it was like night and day. apple trounced wall street

to apple pay. cvs didn't reply to e-mails asking why they disabled the nfc systems that process apple pay. rite aid acknowledged it's not accepting apple pay. what's important to think about retailers may not be taking a swipe at apple pay but apple pay partners. rite aid and cvs were not among the retailers that partnered with apple pay originally though their point of sale systems would allow clients to use it. what both drug store chains are a part of is a group of retailers called the merchant customer exchange building its own app linked to client's prepaid card or bank account. this means payments will go right from the customer to the merchant and merchant won't be paying fees to credit and debit card processors, visa, mastercard and american express. for years retailers have complained about the fees some taking the processors to court. the processors have been working to improve their value proposition to merchants but with forester research estimating mobile payments will hit $90 billion

apple is gaining strength. feel that apple is gaining strength. i think they would do extraordinarily well. the interesting thing about apple tv is that apple keeps refusing to build the tv. everybody keeps predicting there will be an apple tv you put on your wall. they don't build it. i believe that they don't build the tv goes back to the smart fun, which is a upgrade cycle is two years. the upgrade cycle for tvs is five years or 10 years. the tv will become a jumper for a field to the smartphone. real to theff smartphone. is a low margin business. >> what is the future of elon musk? >> obviously he will build the iron man suit. [applause] [laughter] in the suit, he will fly to mars. he has some work to do between here and there. guys, threeree founders who are really revolutionizing. industry through we have all these people who are incredibly well-known known and built these amazing companies. he is one of those. musk -- youelon talk to them and their ambitions and aspirations are another step up from the rest of us. audacity -- look at anyone

one question, and everybody will laugh given where apple is today, is whether samsung was first and apple is next or whether apple can maintain the unbelievable profits and price points relative to the entire industry. and it comes down to the eco system. is it powerful enough people will shell out that much nor a phone. >> and shoummy is the next big company coming out of asia. >> boy are they right. >> a think a lot of people that compete against them are very scared. certainly a lot of moving parts there. samsung feeling the hurt today. we also want to get a check on the markets which are mixed at this hour. the dow sees outsized gains largely because of the visa. remember that is a price-rated index and visa responsible for most of the games gains on the dow. solar shares are fully rally mode. after hours yesterday one of the reasons why the stock was on fire. visa adding 125 points to the dow right now. shares of dream works slipping. even though earnings topped estimates. it is unclear why the stock is down. maybe because ceo threw cold water on the takeover speculation. especially

big one is apple. wall street is eager to see if they can turn the tide and expect $1.31 on sales of $39.9 billion and ending the regular season up a couple of percent and then texas instruments, also again in focus is ibm's chip move over that stock, as well. texas instruments you can see there finishing the day at least in the regular session up by 1.5%. back over to you. >> thank you. >>> we'll get the results of apple and t.i. right after this break. stay tuned. ings in a whole new . it's in this spirit that ing u.s. is becoming a new kind of company. one that helps you think differently about what's ahead, and what's possible when you get things organized. ing u.s. is now voya. changing the way you think of retirement. (vo)solver of the slice.pro. teacher of the un-teachable. you lower handicaps... and raise hopes. and you...rent from national. because only national lets you choose any car in the aisle... and go. you can even take a full-size or above, and still pay the mid-size price. (pro) nice

. >> apple has now rolled out apple pay. allowing users to make transactions at participating retailers with this type of iphone. the system is already place at 220,000 stores. olivia sterns when out on the streets of new york to find out. apple says my new iphone 6 is going to completely replace my wallet. i have decided to put apple pay to the test. let's see how much shopping i can get done. my first up, the disney store. perfect. thank you. the disney store was easy. one touch and i got all of these. that doesn't mean i don't need a handbag. i think we have a winner. that took a bit longer than i expected. apple pay did not work. it did work when i read my card as a credit card. either way, i did not have t o sin. -- have to sign. a $35 ostrich egg. here's the deal, apple pay worked very well. so smoothly it's a bit anti-clement kick. -- anti-climactic. some things like the ostrich egg and that went very smoothly. apple pay does save transaction time. for people like whole foods, anything you can do to move customers mor

besides that news about the steve jobs movie and apple's earnings, apple also released apple pay. will it change the way we pay for everyday stuff? that is next. ♪ >> welcome back to the best of "bloomberg west." i am emily chang. apple pay is here. apple rolled out its long awaited platform on monday allowing people to use their new iphones and ipads to pay for items at retailers including mcdonald's, walgreens, and whole foods. not everything has gone smoothly. a glitch at bank of america has caused some users to be charged twice. for more on apple pay, cory and i spoke with jonathan wall, the cofounder of google wallet and co-ceo of retail startup index, as well as amanda richardson, vice president of product at hotel tonight. i started by asking jonathan how successful apple pay can really be. >> i think it has a lot of potential. they control distribution of the handsets. they have the program if all their phones. they did a great job with partnerships on the banking side. i think on the whole is value-added services. so it's very clear they can do tap and pay for terminals

it has been a big day for apple. the company's new big data system apple pay is live. now fourth quarter earnings are blowing past estimates. revenue in the quarter, $42.1 billion, a 12% gain. the company reported net income up 8.5 billion. the company sold 38.3 million iphones in the new quarter. up 16%. that includes about a week of the new iphone six and six-plus but ipad sales are down again. joining me our editor at large cory johnson and in new york, anon in boston. it seems to be a tale of two products. the iphone blowing it out of the water, the ipad disappointing. what's your takeaway? >> the ipads were meant to be weaker than expected. there was a new product coming. the product has been getting stale, tablet use has been growing. people are starting to figure it out. there's a screen with a larger pc that can doa a lot. hopefully the product refresh and ipad refresh helps reinvigorate that trend. >> cory? >> there are a lot of reasons for that. it's growing at a pace we've never seen great big companies pace. on a very consistent basis. >> and ahead of the h

you have to admire apple for that. >> we admire apple for a lot of things. guy, is there any chance as we go forward and get new apps for the tablets and ipads that we will have some something that can replace a keyboard? which is i think what keeps a lot of people who would like to simply carry an ipad from doing that. you have to have a laptop. it's easier to have it all in one unit. are there any apps that will help with that. >> there are more keyboards and better keyboards and now you can integrate and select your own kind of keyboard for your ios device. i think a lot of it is just getting acclimated to how these things work on an ios device or any smart device. i think it is a matter of just learning to do it. i don't think that is a make or break kind of issue. >> are you expecting anything out of apple that nobody else is expecting? like a big surprise? >> well you always hope for that. right? so the logic tells you, the street tells you it is going to be a better ipad. it is going to be a better imac. apple pay is very exciting. but then there is t

besides that news about the steve jobs movie and apples earnings, apple also released apple pay. will it change the way we pay for every day stuff? that is next. >> welcome back to the best of bloomberg west. apple pay is here. am rolled out its long awaited payments platform on monday allowing people to use their new i phones and i pads to pay for items at retailers including mcdonald's walgreen's and whole foods. not everything has gone smoothly though. a glitch at bank of america caused some to be charged twice. about 1,000 transactions were affected. for more, we spoke with jonathan wall the cofounder of google wallet and coceo of retail data starter index as well as product tonight. how successful apple pay can really be. >> i think it has a lot of potential. i think they've done a great job with the eco system. so they control distribution of the handsets. they have the security in their phones. they did a great job with partnerships on the banking side. i think kind of the thing people are asking about is the value added services so it's clear they can do tap and pay for t

how did apple pay go on day one for apple partners? joining me, cory johnson and workingigital director with apple pay. what are the numbers so far? >> it is too early to say. we are really excited. i'm still looking at the fun numbers. it is interesting. a good staff for you on the day, seven times more people added their car to apple pay the new customers were getting cards. >> this is a business where you are trying to get people -- i carry a chase credit card or lots of other credit cards. let's say i have a chase credit card and a wells fargo credit card and an american express card. is this a chance for you to win where the customers card is not their preferred card? towhat it allows us to do is put the cart into their wallets and help them use it in a mobile way. >> i get that you want to use it everywhere possible. can you move the card from the back of the wallet to the front of the wallet with apple pay? is that a singular opportunity? >> i think it is more of a holistic opportunity. chase is a digital centric bank. when a co

, now on apple tv and amazon fire tv. -- can apple do it better? >> apple can do that because apple has figured out how to become better margin hardware. >> let's talk about market share versus mind share. has most of the market share, but apple has most of the mind share. is that a fair assessment? why would that be happening? if there is all of these people using android phones? theou have seen this from engineering economy, to the creative class. new innovative apps come out on androi apple first, because it s the platform for the creative class. you do not have to be the first, you just have to have the right ecosystem. >> would you say that apple is not the first, but the best? the most creatively -- they foster the best creativity right now. they are the ones that people think of when they want to release an innovative product. apple is going to have to keep that market share of. up./ >> thank you. it is time now for the bwest byte. what do you have? >> 1 to 20. in 20 germans have a credit card, compared to the average per person.has 2.2 why

. >> how about apples now. >> he can be apple pickers. >>> coming up, apples. how awesome they are. besides being a healthy fruit, they are a truly american fruit. >> we have some facts about apples. even how you can catch a buzz from them. now you've got my attention. you're watching "world news now." >> announcer: "world news now" continues afte >>> haven't done this yet. you said you'll take us. this time of year, apple picking is a top of the weekend to-do list. thousands of families venture into the orchards. today starts national cider week. >> it's one of my favorites and one of the many benefits of apples. there's plenty more you may not know about apples. >> reporter: apples. there's more to them than meets the eye. with more than 70 million tons produced worldwide, it's one of the most valuable fruits here in the u.s. and they don't just keep the doctor away. they keep that waistline down. a new study published by science direct says apples promoets a friendly gut bacteria which stabilizes the metabolism and makes you feel full. >> it may stimulate the right microflora in

. >> apple pay is finally here. if this works as well as advertised, iphone users will soon be able to leave all their credit cards at home. let's go see how it works. to use apple pay you're going to need the iphone 6 or the 6 plus. you also need the newest version of apple's operating system. once you have that in place, use the touch i.d. to open the phone and then go into apple's passbook pass. this is where these cards live. i've already added two cards to this they look like the cards in your wallet but there's no name or numbers on them, which increases the security that apple is shooting for. you can toggle through and choo us the one you want or you can add another card by tapping here and taking a photo of the card. let's go shopping. i want to buy a new iphone case. scan it like a regular product. use the touch i.d. and hold it in the general idea. shows up as a beep. there's a little vibration and the transaction is done. >> kyle stock there. for more on apple pay, i want to bring in john carlton and chr

apple has said apple pay, the payment service, launches on monday. also, an update on the apple watch. watch kit is a way for developers to make apps for the apple watch. that will roll out next month. that is november. tim cook saying the watch still expected in early 2015. he says every day i look forward to that day. so this is an important detail because developers now have a couple of months at least to figure out what kind of software they'll want to build for this watch. apple is usually announcing platforms like this in the summertime. but for the apple watch, they are rolling this out in november, giving developers their first chance to get creative and really figure out what kind of apps to deliver for that in november. and again, apple pay coming on monday, tyler. >> all right, jon, i'll take it back. and apple is positive right now by 17 cents. >>> the market rallying back in a big way from a big selloff earlier this morning. the dow is positive by 16 points on the trading session. so is this the time to buy stocks? joining me here on the

apple pay is rolling out today. is it relieve the end of the credit card -- really the end of the plastic credit card? ♪ >> i am emily chang. to the robin hood conference, where attendees a thousands of dollars in ticket to hear advice from the best and brightest minds in the industry. could affect the future of payments. stephanie ruhle joins us now live. thank you. i'm here with ari summers, the ceo of jpmorgan chase's consumer bank. branches, who is going to branches today? >> good question. all thee question i get time. it is very important to our customers, 90% of our customers use our branches, and visit several times a quarter. the way they use him is very different that deals with no. the transactions they used to have to come to the branch to do, deposit, payment, to ask a question about an account, they are using some of the technology that we have developed. they're coming for different reasons. 50% of deposits are happening outside of branches, how is jpmorgan chase rationalizing that you continue to o

and apple pay. will it change the way we shop much like the first ipods changed the way we consumed music. national executive pete has hammered it out. he'll be here with the answers. liz: with just 23 minutes until the closing bell try to look past ibm one stock, but, of course, it's a positive day for stocks overall let's go to nicole petallides. i want to here about some big time winners here. >> we have some big winners. i just heard one guy said, if it weren't for ibm we would be up 200 points. not quite, but we'd certainly be in some positive territory. talk about some of the winners we've seen today. the -- the market has improved in the last few hours. hasboro did so well. they have the marv he will they have the transformers. sesame street. disney which is a dow component. and the airlines are doing very well. you're seeing names like love, which is southwest airlines. delta also a winner. there are really a lot of winners. some of the tech names are coming under pressure, but the market ha

whatever. >> how about apples now. >> he can be apple pickers. >>> coming up, apples. how awesome they are. besides being a healthy fruit, they are a truly american fruit. >> we have some facts about apples. even how you can catch a buzz from them. now you've got my attention. you're watching "world news now." >> announcer: "world news now" >>> haven't done this yet. you said you'll take us. this time of year, apple picking is a top of the weekend to-do list. thousands of families venture into the orchards. today starts national cider week. >> it's one of my favorites and one of the many benefits of apples. there's plenty more you may not know about apples. >> reporter: apples. there's more to them than meets the eye. with more than 70 million tons produced worldwide, it's one of the most valuable fruits here in the u.s. and they don't just keep the doctor away. they keep that waistline down. a new study published by science direct says apples promoets a friendly gut bacteria which stabilizes the metabolism and makes you feel full. >> it may stimulate the right microfl

and apple is in a great place. but we know china is a super important market for apple. whatever they do together is going to be big. >> isn't there a problem that everybody seems to love alibaba. it's gone up so high, near highs since the ipo. j.d..com which people used to love is pretty far down. is baba the better buy here or other competitors who are getting overshadowed. >> you really do need to look around. alibaba is this bright shining star. and i have said before on one of shows here that it is an unknown because we don't know how it is going to play in the u.s. which is a key expansion area for alibaba. >> in the morgan stanley they talk about alibaba services and cloudy as being the next expansion areas but they have an interesting chart that shows even though they do so much more than transaction volume than amazon, amazon is able to make more money in terms of revenue. and i'm wondering if you think the china commerce model t revenues are so much lower than here. >> you see a revenue mix shift. so there is a better monetization of the user base. i expect to

besides that news about the steve jobs movie and apple's earnings, apple also released apple pay. will it change the way we pay for everyday stuff? hat is next. >> welcome back to the best of bloomberg west. apple pay is here. apple rolled out its long awaited platform on monday allowing people to use their new i phones and i pads to pay for items at retailers including mcdonald's, wall greene and whole foods. not everything has gone smoothly. a blitch at bank of america has caused retailers to be charged twice. for more on apple pay we spoke with the cofounder of google wallet and coceo of retail start up index, as well as vice president of product. i started by asking jonathan how successful apple pay can really be. >> i think it has a lot of potential. they control distribution of the handsets. they have the program if all their phones. they did a great job with partnerships on the banking side. i think on the whole is value-added services. so it's very clear they can do tap and pay for terminals that are already enabled. but the question is where is the value at, where is the

besides that, apple announced apple pay will start on monday and showed off ios 8 and mac operating system . os 10 yosemite. for more on apple's big day, i was joined by joe brown, paul kedrosky, and president of the global design for lunar. take a listen. >> it has become a real -- it is easy to unlock and get things when you are authenticating. security is very important right now, especially to apple. it is a really big deal. faster wi-fi is very good. especially people using laptop replacements. they are thinner. you can stack two of these on top of each other. and it is still thinner than the original ipad. >> how are you feeling? are you still feeling mac? >> i am still a mac. it is what we thought we would see. we are seeing it. i saw on my twitter stream about how they are going on about thin, as if nothing matters. none of it changes the fundamental problem that the purchasing cycle for tablets is much slower than phones. there is been a real loss of momentum. --ing the devices that are thinner is not really going to change all of that. the fundamental problem they have been in th

and, of course, we're waiting on apple, so how does that apple pay work? top of the hour we're going to talk about apple, show the stock, but then we are going to be speaking with pete par l of marble. he has the iphone 6, and he is going to demonstrate right here, live, how apple pay works. some 200,000 stores across the nation have signed up for i've been hearing from boutique owners even in new jersey who have gotten calls from apple saying, please, sign up. this is very interesting. it will become a new order of the world, but how much is apple getting paid from your transactions? stay tuned, we're going to demonstrate it all, melissa. melissa: i'm just impressed you can say pete par el of marble. my hat is off. liz, thank you so much. we had to show you this. this is what i wanted to leave show with. my producers stopped me, for some reason. [laughter] dozens of fall enthusiasts carved out their giant pump kips and went -- pumpkins and went behind the stem. the eager competitors had to collect seven balls around the lake before racing back to the fini

apple is certainly focused on where they can move product there as well, but for apple, i think it's about the overall ecosystem, so they are making plenty of money on their iphones. >> what does it actually mean for apple overall and google overall? >> there are two important points, and you guys hit on it in your intro. 1 -- the impact of the large smartphones is huge. remember that a lot of the growth in the tablet market over the past few years has been in the smaller seven-edge tablets. that is the category in particular that gets hurt by large smartphones. >> do we know that yet, or do we suspect that? >> i think we know that to some degree. there is a reasonably solid fact on that front. there certainly is on which tablets have sold, and there's a little bit more speculation than on what the impact is going to .e qualitatively, i have talked to a lot of people who have said 6w they have gotten an iphone i've hadre using their a lot less. i think the question tomorrow is what they will do with the ipad mini. see moree are going to specialization and tablets. we are going to see

let's talk about apple. investors gave apple shares a boost an extended trading last night. they smashed through analyst estimates for the fourth quarter. it all thanks to -- it is all thanks to iphone. a 60% gain from a year ago. ryan chilcote joins us now with more. some big numbers. >> it was a solid beat. earnings for the last quarter were $8.5 billion. it is also a beat in terms of the estimate, the expectation was for earnings per share two comen -- two common -- to in at 1.30. part of that is the iphone 6 and part of that is the six plus. they were on sale for eight days before the last quarter ended. some really strong numbers from the iphone 6. that helps apple's margin as well. 38% grossrting a margin. that is a little bit better down the street. , macer place they did well sales. who says that personal computers no longer have a place in people's homes? those sales up 21%. intel reporting that pc sales were up by about 20%. a bit of a surprising trend. one disappointing part of the earnings was the ipad sales. analysts were expecting for them to soul -- sell 13 mi

apple doesn't keep data. data doesn't go to retail years that is totally true. >> i think this is a terrific first step and time will tell how widely it is adopted both in the retail community and consumer community. gerri: so interesting. retailers may be impacted less than you think particularly department store retailers because if you have one of those cards that gives you points or something, saks fifth avenue, neiman marcus, macy's, all these companies have those cards, joe, to you, they're not playing, right? there may be a segment of the audience out there who won't watch the technology because they're too busy building up points with the department store credit card. >> that is very possible but at the same time there will be a lot of millenials like me who love walking out the door with nothing but their smartphone and promise that would bring and who will love apple pay. gerri: adam, last word. >> last thing, that retailers may welcome along with their affinity card. the fact it is not happening ri

besides that, apple announced apple pay will start on monday and showed off ios 8 and mac operating system for more on apple's big day, i was joined by joe brown, paul kedrosky, and president of the global design for lunar. take a listen. >> it has become a real -- it is easy to unlock and get things when you are authenticating. it is important especially to apple. it is a really big deal. faster wi-fi is very good. especially people using laptop replacements. you can stack two of these on top of each other. >> how are you feeling? are you still feeling mac? >> i am still a mac. it is what we thought we would see. we are seeing it. i saw on my twitter stream about how they are going on about thin, as if nothing matters. none of it changes the fundamental problem that the purchasing cycle for tablets is much slower than phones. a real loss of momentum. it is not really going to change all of that. the fundamental problem they have been in that market. what worries me is that all of it reminds me of what cook is good at is optimization. making things thinner. what he is bad at is making thin

besides that, apple announced apple pay will start on monday and maced off ios 8 operating system. for more on apple's big day, i was joined by joe brown, paul kedrosky, and president of the global design for lunar. take a listen. real -- it isme a easy to unlock and get things when you are authenticating. it is important especially to apple. deal.a really big faster wi-fi is a very good. especially people using laptop replacements. of these on top of each other. >> how are you feeling? are you still feeling mac? >> i am still a mac. it is what we thought we would see. we are seeing it. i saw on my twitter stream about how they are going on about thin, as if nothing matters is that none of it changes the fundamental problem that the purchasing cycle for tablets is much slower than false. a real loss of momentum. it is not really going to change all of that. the fundamental problem they have been in that market. what worries me is that all of of what cook is is optimization. making things thinner. making is bad at is things that make you say, oh my goodness, and four is doing what?

in an open level -- letter to the apple ceo tim cook, apple is trading at half value and that the company should celebrate shared buybacks. mr. icahn, his son,

the actual card numbers aren't stored on the phone or with apple. >> apple pay create the number the number is useless if hacker gets to it. you can't look at the real name or card security code. >> is apple pay a safer way to pay. >> it could be. payment security experts we have spoken to say compared to physical credit cards mobile technology could be a safer option. >> other mobile wallet include google water let and shop card formerly called isis and they use nfc technology. >> mir khnt slow to with switch over to nfc readers. could it change now that apple is on board. >> so for more than 200,000 stores are equipped to accept apple pay including mc donald' donald's, macy, subway and sports authority. in contrast up to 15 million retailers mix up credit debit card. >> mobile wall let haven't been widely accepted it could change soon. mir chapter to update the card reader by the end of 2015 to accept a new type of more secure credit card. the readers can be made compatible with nfc technology and that could make it much easier to find stores where you can pay with your smart phone

besides that, apple announced apple pay will start on monday and showed off ios 8 and mac operating system for more on apple's big day, i was joined by joe brown, paul kedrosky, and president of the global design for lunar. take a listen. >> it has become a real -- it is easy to unlock and get things when you are authenticating. it is important especially to apple. it is a really big deal. faster wi-fi is very good. especially people using laptop replacements. you can stack 2 of these on top of each other. >> how are you feeling? are you still feeling mac? >> i am still a mac. it is what we thought we would see. we are seeing it. i saw on my twitter stream about how they are going on about thin, as if nothing matters. none of it changes the fundamental problem that the purchasing cycle for tablets is much slower than phones. a real loss of momentum. it is not really going to change all of that. the fundamental problem they have been in that market. what worries me is that all of it reminds me of what cook is good at is optimization. making things thinner. what he is bad at is making things

besides that, apple announced apple pay will start on monday and showed off ios 8 and mac operating system os 10 yosemite. for more on apple's big day, i was joined by joe brown, paul kedrosky, and president of the global design for lunar. take a listen. >> touch id has become a real -- it is easy to unlock and get things when you are authenticating. it is important especially to apple. it is a really big deal. faster wi-fi is very good. especially people using laptop replacements. you can stack 2 of these on top of each other. >> how are you feeling? are you still feeling mac? >> i am still a mac. it is what we thought we would see. we are seeing it. i saw on my twitter stream about how they are going on about thin, as if nothing matters. none of it changes the fundamental problem that the purchasing cycle for tablets is much slower than phones. a real loss of momentum. it is not really going to change all of that. the fundamental problem they have been in that market. what worries me is that all of it reminds me of what cook is good at is optimization. making things thinner. what he is b

so today apple launching its new mobile payment service, apple pay. it's going to be at some 220,000 locations across the u.s. whole foods, macy's mcdonald's, and here's how this service is going to work. users can step up to the checkout terminal, hold up their iphone 6 or iphone 6 plus to a special payment terminal and with just the touch of a finger, that transaction is completed. what apple is trying to do here is take advantage of that mobile payments market which is expected to quadruple to $90 billion by 2017 according to forester research. i did have the chance to speak with apple's eddie q and he talked about how the service is safer, easier, faster. he said that traditional payment methods and how it's more secure. take a listen. >> all of us right now are having to deal with all of these credit cards getting exposed and your credit card gets canceled and got to get a new one or even worse, your card has beens used somewhere and now you have to, you know, which transactions did you not do to get a credit for and we wanted to create an enviro

apple has been unchanged while the market is selling off. it's also occurring right at the pass top, normal reaction. we like apple on the long side. >> i'd say on the chart the momentum is waning a little bit. it's made a series of higher highs and lower lows. since the september 3rd all time high here. so you'll really have to see some blowout gross margin guidance to get the stock going forward. >> don't you want to own apple going into the fourth quarter? with payments lawnking on monday. >> we talked about this on this show. >> payments will be a 1% thing, the watch -- the watch to me -- >> 1%, look at the size of visa and then you can think of the market share. >> at some point don't the stock at current prices discount some future things that we don't even know yet. >> got a question out there. send us a tweet. #options action. and check out our website. it's better than netflix and hbo combined. here's what is coming up next. >>> which tech stock could be in serious trouble when it reports earnings next week? >> if i told you that, i

and i really equate that to apple. i think they are just moving ahead of the pack and now is the time to catch them. and that is all i'm saying. but i can't take you, you know, that today is the day to buy it. probably it isn't. >> do me a favor. we're going to take a quick break. we'll come back and ask you a few more questions and so sit tight if you wouldn't mind. dow jones down 165 points the selloff led my energy. materials down 3%. we're back after this there's a difference when you trade with fidelity. one you won't find anywhere else. one-second trade execution. guaranteed. did you see it? in one second, he made a trade, we looked for the best price, and the trade went through. do the other guys guarantee that? didn't think so. open an account and find more of the expertise you need to be a better investor. . >>> welcome back. we continue to watch the market selloff. dominick chu is. what are you watching. >> stocks at session lows now. just bouncing off them. the dow jones you can see here just about down 1 an

. >> the apple c.e.o. tim cook is expecting record holiday sales avenue they sold more than 39 million iphones this quarter. >> tragedy for total. the c.e.o. died in a plane crash in moscow. good morning, everybody. welcome. you're watching "the pulse" live from bloomberg's european headquarters. we're here in london. i'm guy johnson. >> i'm francine lacqua. this is our top story. g.d.p. came in ahead of economist estimates and dashed some hopes for large scale stimulus in world's second largest economy. >> bloomberg economist tom joins us from beijing with details. first of all, are we being overly aggressive when we said there was a surprise on the upslope? this is still the weakest data we have seen since 2009. >> i think that is a good way of looking atice, guy. 7.3% growth in the third quarter was slightly better than 7.2% expectations but only really marginally better. if you dig into the details of what is behind that number, what you see is continued weakness in the domestic economy. real estate ha

i'm call spread in apple. so sure it could pull back a little bit but everything you could short in this environment, why apple. >> i could short something like alibaba which had that massive jump. >> you shorted yahoo instead. >> that was against the alibaba. and once the options came available this week, tail end of last week, that is when i told people a week before that you wanted to be short it up until the middle of that week. >> shorting apple is like if you are a teenager growing up, you tape hair on your chest sometimes? i know mur f did this. not a hero trade. >> and it's not -- look at what i did. by buying the 100 put i own the downside on apple. by selling out the 95 put i'm only identifying a drop to about that level. 96, 95. >> you really think this bend gate? >> i think it put off significant amounts of orders. i think a lot of people put off orders after that. and now you know what i'm hearing? people are going into stores and instead of being told there is a five week wait? they have them in

what do you think of apple? >> love apple. we own apple. it's interesting. this is nothing new. apple has been buying back stock for some time. it's nothing new. i think he's overly optimistic. he thinks it can double from here -- >> maybe not? >> 0 every a long period of time anything can double. i don't think it's quite as optimistic. great stock, great products. >> what about the global growth scenario? we had a bad data out of germany which started this market sell-off. can the u.s. market continue to march forward if the entire global growth scenario is basically being wree written? >> right. we don't buy foreign stock. we know domestic stock, remember, he has a level playing field and a strong economy. if it's a level playing field, you have s.e.c., maybe they're not perfect but they are good at leveling the playing field. you have great opportunities here. germany, france, italy, all those problems over there, that's for them to deal with. >> thank you so much. appreciate it very much, george. >>> all right. breaking news in the bond market, the 30-year bond up for auctio

>> is apple doing what apple does best, and they will optimize that payment flow, and they are partnering with thanks to make that happen. because of that, we saw an uptick in interest in bitcoin. >> how does chinese operations affect you? >> we would like to operate everywhere in the world, but when governments take a stance that they do not want it to be used, obviously, we have to abide by that. >> how can someone like arthur levitt help with legal issues? >> when we talk with arthur, what we really want to help him with or have him help us with is how you get the banking industry to sort of warm-up to using this technology and what do we need to do -- what are the steps we need to do to accomplish that? i think he will sort of work that courts. that's the goal, and we will figure out what other steps we need to take to make that happen. >> if you say we are in the fourth bitcoin bubble, how many will there be? >> i think there will be bubble after bubble. what happens is you get a lot of interest for one reason or another. a lot of people decide they want to buy them, and this might b

. >>> apple shines again. sales of the new iphone six smashed company's forecast. >>> down but not out, china's gdp growth slows to 7.3%, its lowest level in almost six years, but still beat forecasts. >>> the ceo tells cnbc, stress tests would send a strong signal to the market. >> hopefully, we've seen that these stress tests are for real and that the european banking sector has to be -- to clean out their bad loans. that would be a signal of strength and that could help the sentiment in the market. . >> announcer: you're watching "worldwide exchange," bringing you business news from around the globe. >> hello, everyone. i'm seema mody. coming up on the show, senior hong kong officials sit at the bargaining table are protesters, but we hear from one person who says don't hold your breath for a compromise. >>> strong chilling ways on earnings as ae is the hos tries to avert sales slowdown. will the recovery efforts pay down? we will discuss. >>> and is we ask whether headwinds in china and russia will eat awa

people are salivating about the apple products. >> apple has hired angela behrens and we have a clip. >> it was a great collaboration and i loved working with technology. it's really just a beginning. >> she's got on top of fashion most -- fashionable sunglasses. is google glass cool? >> wearables i think are really cool. people want to have access to information and want to be able -- whether it is something that just ran as this are understanding health or lifestyle or connecting in a new way -- that is cool. that is mainstream now if you think about where that is going. whether you are going to wear it as a glove or on your wrist, that will be debatable. that will be the fun part to watch. >> is the fashion industry going to truly embrace wearables? is anna wintour going to be wearing an apple watch every day or just experiment? >> i don't know about whether she will do that but i bet she has an iphone. the natural extension is where does one go? i think this is about popular culture. i think this is a hold movement that we have never seen before. what apple has done so smartly is

a hugehaping up to be week for apple. the company is expected to unveil new ipads and new imacs on thursday. live onin may go saturday. a memo circulated to walgreens them howagers, tells to prepare for the start of apple pay on october 18 and walgreens is one of the initial retailers to participate in the apple pay lot. i will pay will be available on the ui phone six and six plus and the new apple watch when it comes out next year. is it really coming this saturday? joining us now is the ceo of apple who runs more passbook campaigns than any other company. what do you know in particular about how exactly the system is going to work and how retailers are preparing to use this? >> it is not going to be much of a jump for retailers like walgreens who have been using likeook style payments, loyalty cards. fors not that much customers open trained to use a then with other retailers, to use this. starbucks have not done much of the way of chaining, they just created the functionality. it is a billion dollar business for them

apple said in a statement that we want to empower women at apple to do the best work of their lives as they care for loved ones and raise families. >> it takes some of the financial burden off so that then the woman--it's almost like a no-brainer decision to do this, and still feel great about having that insurance policy to pursue a family later on when they're ready. >> young professional leah has gone through rounds of treatment. >> i just wanted an option. i want to focus on my career. i have not met mr. right yet, and i wanted to know that when i was ready i would be able to go back and have kids. >> why would the companies want to offer this incentive to women? the nature of this traditionally male-dominated tech industry could be one reason. for example, at apple 80% of the workforce is male. at facebook it's 85%. this lopsidedness is reflected in management. at apple 72% of management is male. at facebook, 77%. >> you come in to get pregnant at 42 and 43, and we have eggs from when you were 35, it's like setting the clock back seven or eight years. that's a huge advantage. >> i