right now, apple,number one smart phone brand in china, if china were to punish apple and apple backed away, it might suggest disengagement globally what's your take on that >> i think china does want to -- wants investment, friendly to foreign companies. that's one of the reason they haven't possibly retaliated against apple. at the same time, apple is a hit with chinese consumers one in four smart phones is an iphone in china. more than 200 million iphone users in china the country has to be hard hitting them too hard because of upset of chinese citizens. >> thank you cnbc reached out to apple. apple declined to comment on the story. >>> jon, we are i.g. two things, nubank and hashicorp having a tough year these two names will test appetite for the market. it has been disappointing in terms of ipo performances in the next few weeks and months. all but one listing have fallen into bear market territory the last week. some haven't bounced back. big names like rob in hood, coinbase, affirm, didi, down performance in weeks and months ahead may have implications for an ipo pipeline for in

apple needed a cheaper iphone. turns out they have one. they also have a more expensive iphone and that cesells better they have built out the strategy where they have airpods and apple watch. those are selling really, really well what is it about apple that people missed when they were criticizing it for not having come up with the amazon echo >> yeah. i think that's a great question, jon. i think that people typically underestimated apple from an innovation standpoint. you hear this a lot. they're not being innovative if you look at what they have done within the iphone, that's where the innovation is. look at how big a chip company apple has become in its own right and what they have done with m1 and the processors within the iphone where you have photography which has taken a life of its own. this is where innovation is. it's in the user experience. that's what they excel at which we see every day we use and we interact with and that's the more obvious piece i think a piece that's really missed is what's happen

>> well, we all own apple and apple is 6.5% of the market and when we talk about apple it represents the biggest commitment that people make to the stock market and as others have said, i mean, bryn just said it people take money out of other names and buy apple. if you look at what's happened in the last month, less than a month, apple is up 19% and what's gone on in the market during that period of time is there have been huge sell-offs within technology. apple's own sector and a lot of high-tech names have had volatile swings and some of it is tech loss selling and that money has gone to safety and it's been defensive, staying within the sector and apple represents an incredibly strong, well-known safe and growing company. no one is suggesting that people bought it because they just discovered apple they know it and we believe that there will always be this commitment to apple by investors to keep their money there while they're waiting for something else which is a good reason not to get out of it, but i think that jim is right. you can trade around it. if you have a 6%, 7% posit

apple has a new problem, slowing demand. along with those concerns about tech and software makers, we are seeing a lot of fragility in this equity market. we saw selloff yesterday in the u.s. stock market which was the biggest two-day selloff since october 2020. the number of stocks that are trading their 52-week low is now the greatest amount since march of 2020. of course we know what happened then, the pandemic field selloff. this to shows you how many gyrations markets are having to deal with the stock market and bond market as well. volatility is picking up around all these calls we been discussing. esty was saying she expects a lot of growth and volatility in this market. now there's the omicron variant and what that means for demand. yesterday there was it selloff that happen when the european market was closed. .6% is not really going to chip away that much, and were looking at some gains after we saw a lot of buying in the 30 year yield yesterday. finally, brent crude up to nearly $70 a barrel, still hanging around

apple analyst weighs in on the reports of demand drama around the holidays for apple and heading to miami as crypto fans descend on the south we have 12 minutes to go in the trading day. we are in the "closing bell" market zone. cnbc senior market commentator mike santoli here to weigh in on the trading day and hightower chief investment strategist stephanie link back. welcome. stocks are rallying today after that two-day sell-off. dow and s&p 500 on track to recover all of yesterday's losses the question is, is it just bargain hunting after an oversold few days or are people getting calmer about the risks like the omicron variant and fed tightening >> yes but all rebound rallies start that way by picking up the stuff that's blasted out the most. looking at the equal weighted market it is up 2.5% the average stock coming off the lows whether it's sustainable unc unclear. while monday was a sizable index rally, narrow, yesterday thwarted by the selling wave and this afternoon you sense hesitancy worrying to get ambushed by the selling storm again today. you have the end of day market on cl

apple's treatment of roadblocks. epic claimed apple gave roblox special treatment, and roblox subsequently changed the name of its offerings from games to experiences. what is your take on this? >> this is an app that offers a multitude of different types of games and environments. this company has positioned those experiences, instead of games, helps them circumvent some of the rules that apple has on games. we are here waiting for an announcement from the ninth circuit in california about whether or not apple will be granted a stay on these app store changes that the judge ruled they must put into place by december 9. that is a few days from now. we still don't have a final answer about whether apple will have to go through those changes or not. we will let you know as soon as we have an answer about whether apple hast those changes in or -- whether apple has to put those changes in or if they have a short-term stay on this. emily: thank you as always for giving us those updates, mark. an amazon web service outage

we had a apple conversation. some of the stocks moving on the other side like rent the runway, for example? >> look, i thought your interview was excellent. it's not of your cap company, obviously, it's very small you asked some questions that i felt weren't answered correctly or on point about actual profitability and losses and i think people are turning they want apple price earnings multiples high,boy, that was an interesting interview. it says, maybe we are at the peak of the closet and the cloud-plus moment and i'm going to talk about that hon the conference call. positives thought being stereotypical what some of the new companies salad and clouds and sweet greens we're tired of it. andrew we want earnings that is let's say accommodative of what used to be the case you know when you see those things, i felt that that story was just untouched with in that interview. >> new question. nu bank going public down where are you at the new york stock exchange how do you think about a company like that in. >> i was

that would be beneath apple. apple doesn't want to make a car the way you and i know it. they want to turn your car into a mobile apple store an immersive screen covered in carbon fiber reinforced plastic attached to an electric skateboard driven by a super computer like the mobile metaverse, right. so, it is going to be years before we see it and maybe there's pedals temporarily, but they will be immediately taken out. okay so, steering wheel bearish on steering wheel for apple. >> really quick, adam. what is the model car behind your left shoulder >> this is a 458 a car i'll never own but ferrari is our best ev pick. >> that's right. >> i mean, they sold a year's worth of profit instantly. find another year that can sell out a year's worth of profit instantly. it will take them to a year to deliver, but don't overthink it. >> no, your call on race i think gets buried by the discussion over the much larger firms but, thanks for showing us that, adam it's good to see you >> take care >> whether drawn on paper or on a shelf, adam has the best props. >>> meantime, another h

apple. i feel at that is a bit counterintuitive to what we have seen. what struck me with this story is the fact that it could be a demand issue, not a supply issue. i appreciate that it is a short-term thing, waiting for the new upgrade, but a demand issue is not what we have been talking about the last 18 months. michael: no, it is not. but the question is how does it break down. we really don't know. there were not the same kind of expectations for the 13 because it was not as new a breakthrough of product. but on top of that, you layer the pandemic and the fact that people got lots of money and spend money on electronics in 2020 and first part of the year, so maybe we have pulled forward some purchases of electronics like iphones that leave people not needing to buy as many at this time, and then there is the supply chain question. the chinese have the no virus policy, so they have a tendency to shut things down very quickly . if we see omicron spread their, that could cause more problem

payment apple has to do, as well. that will be ongoing legal action to watch. speaking of architecture, this is why oracle's deal is important. oracle losing market share with its own business to microsoft, which is leading to this bid into the health care space and that brings it to cerner. compared to the deals made in the last couple years, the last acquisition they made was 2017 and it was a $.7 billion. this is a huge bat from oracle going into the health care space. it earns them a creditwatch negative for the s&p, the idea that they have to watch the balance sheet, how much money they will borrow to make the acquisition possible and successful without being downgraded to junk territory. that will be a crucial thing to watch for the stock. the movers that aren't necessarily in the deal space but in the crypto space, bitcoin was down for most of the session, a risk off day on the markets. how it showed up in the crib no -- crypto stocks, blockchain marathon and microstrategy lower on the day. we'll sentiment shoo

this at the moment is just an apple story. tom: matt is talking about his desire to get a hold of new apple products, and now we hear that those weights have been shortened to two weeks. alex webb saying this may be a case of customers waiting until next year when the new model comes out. dani: you have to make sure -- you can see we are looking at the screen, technology leading to the downside, dropping more than 2%. otherwise, they will not be able to find any sector outperforming. everything in the red today. it is the fed, the virus. tom: to reiterate, this is a buy the dip opportunity. their analysis is this variant will be less dangerous than some assumed. two hikes by 2022 which is essentially priced into the markets. that is it for the european market open. "surveillance: early edi tion" is up next. this is bloomberg. ♪ >> the u.s. needs to get back on a sustainable fiscal path. >> purchases in the first quarter or early in the second, right now i would support that. >> we know vaccines are likely to have some protec

payment apple has to do, as well. that will be ongoing legal action to watch. speaking of architecture, this is why oracle's deal is important. oracle losing market share with its own business to microsoft, which is leading to this bid into the health care space and that brings it to cerner. compared to the deals made in the last couple years, the last acquisition they made was 2017 and it was a $.7 billion. this is a huge bat from oracle going into the health care space. it earns them a creditwatch negative for the s&p, the idea that they have to watch the balance sheet, how much money they will borrow to make the acquisition possible and successful without being downgraded to junk territory. that will be a crucial thing to watch for the stock. the movers that aren't necessarily in the deal space but in the crypto space, bitcoin was down for most of the session , a risk off day on the markets. how it showed up in the crib no stocks, blockchain marathon and microstrategy lower on the day. we'll sentiment shoot up tomo

my first company, pebble, we were building a product that competed squarely with apple's apple watch. on android we were able to get access to the system features that we needed to deliver to upgrade user experience. on apple products we simply were not able to get the same level of access that products like the apple watch enjoyed. this made it really hard to compete, because apple controls both the app store as well as the operating system, it was hard to build an accessory that worked with an iphone. sen. klobuchar: could you talk a little bit and then maybe miss mott -- dr. moss and mr. harmon, maybe that brings in the bill that i have introduced with senator hawley as well as senator durbin, how that would help with some of this conduct, because you cannot put your stuff above everyone else's, you cannot rip off other products and then put it up against the products that you have ripped off and that you cannot use data and other things, any of you can comment on it, but the difference that it would make. dr. moss: thank you. i am happy to respond to that. i think competition in t

, but we'll hear from an apple watcher who says the supply chain could cost the company billions more than some thought. analysts getting busy before the holidays we are looking at the biggest calls of the day and asking our panel if these stocks are a buy. we begin with kristina partsinevelos. >> as you pointed out, markets are higher today and we have actually reversed the losses from monday's sell-off volatility is the name of the game usually december tends to be quieter because traders are on vacation, less big news, but december has been the most volatile stocks for 2021 starting with food, staples, biotech, media, semiconductors you can see it is trending lower, but i want to focus on semiconductors for a second because micron is down today that's after the best day in more than a year just yesterday after the company presented a surprisingly optimistic outlook for the memory chip market nvidia trading pretty much flat to the upside. amd and micron, two of rosenblatt's top semi picks for 2022, those analysts over there calling the chip sector the mother of all cycles and the bi

this index down 2.7%, big names like apple. apple, $3 trillion, not quite. semi conductors down 2.5% as well. this is a big week. we are going to hear from 20 central banks around the world. the federal reserve on wednesday, the bank of england and european central bank on thursday, as well as the bank of japan later in the week. this is going to set the stage for 2022 on global inflation, the global outlook for monetary policy. if you are an equity market investor or cryptocurrency investor, pay attention to the signals of what's to come. speaking of inflation, i want to talk about bitcoin. after a solid weekend, it has been a heavy selling session. we are now down below $47,000 and hovering around bitcoin's 200 day moving average. we have been monitoring that, a key level where we could either see a bounce back or see continued declines. there is an idea that bitcoin is an inflation hedge. let's look at the big stock movers. one mega cap tech stock big on monday, meta-, the facebook parent. not sure why, but it is having a decent day. tesla down 5%, apple

and so with that has helped apple but in terms of actual competition, apple hasn't done very well in china to begin with. but i think the other issue is this, that is this kind of setting a precedent for the future. then if you're a company that wants to operate in china, you're going to have to do this kind of thing. that very well may be the case. but again, that raises a whole lot of questions about apple. now investing in chinese companies, especially when you have to remember the u. s. government in the last couple of years. certainly after 2016 has taken a hard line on americans investing in chinese companies and especially chinese tech companies. well, and my question is, if china can do this, why can't the united states do the same thing? that's my thought. why can't every country to say listen, if you want to operate our business, you're going to have to invest in our country. that just makes sense and allows, i think, a little bit of a fair playground is china. that much of a market. if people are willing to pay that for in, did this just hurt smaller businesses, smaller co

more top picks apple. jpmorgan, they also name qualcomm new 52-week high today jim is joining us on the phone what do you think of this pick jpmorgan's, 225, 22% upside? >> yeah, listen, i think the stock should be 210 right now. i'm making this simple this stock deserves a 20 times multiple it's at 17 times this year's earnings it's a fiscal year that ends september 30th so we really are in fiscal '22, but here's why it deserves a 20 times multiple the stock's been held back by the perception that it's just a mobile phone company and that its fortunes are tied to apple it's got automotive, which is going to get enhanced by the acquisition and it's got internet of things these business lines were about 22% of revenue last year they're going to grow to be about 24% this year. i think they'll grow more rapidly than the handset business and be close to 30% of the revenue line in about three years. the growth in the overall earnings picture really deserves that 20 times multiple the peg ratio. price to earning

i have multipledifferent positions in apple that go all of the way out to january. so as long as they continue to buy and they continue to be right, scott, i'm going to be riding along with them so i've got the stock and i've been adding all these calls. >> it's been interesting it speaks to as i was discussing with mike wilson the ability of apple more than anything else to be so incredibly resilient pete in the face of some turmoil to just be able to march to new record highs even when there's no fundamental reason at stake at the particular time >> yeah. yeah there's no doubt about that. i remember a lot of people were getting very nervous when the stock was just pausing scott a couple of months ago it was pausing and everybody said apple is not participating at all. there are other names pulling the market up. that is what apple has been doing now for the last decades is it makes big runs to the upside we see it plateau for a while and the next leg starts to move to the upside and that's just been the historic way in which apple has been trading so i wasn't over

and talking about apple. dan ives, we were focused on a two year yield that could speak volumes with the inflation report. jonathan: looking forward to hearing from the big bull on wall street. katie huberty of jp morgan will be joining us this morning. increasing that pride target -- price target. we are taking out the highs for the year we could have a more material conversation behind just rates in america. tom: we are serious, two hands on the wheel, please. lisa, i want you to forward a two-year to a high further year into the auction dynamics we may see today. lisa: you really set me up with something that you love so dearly, i appreciate that. $54 billion auction of three-year notes today at 1:00 p.m. what's the conviction around rate hikes after the first two? we know people are bringing forward rate hike expectations, but what is the trajectory from their? that matters -- there? that matters as they hike into an economy that will be slowing. tom: this is also about e.m. with jerome powell, to latin a

and so with that has helped apple but in terms of actual competition, apple hasn't done very well in china to begin with. but i think the other issue was this, that, that is this kind of setting a precedent for the future. then if you're a company that wants to operate in china, you're going to have to do this kind of thing. that very well may be the case, but again, that raises a whole lot of questions about apple. now investing in chinese companies, especially when you have to remember the u. s. government in the last couple of years. certainly after 2016 has taken a hard line on americans investing in chinese companies and especially chinese tech companies. well, and my question is, if china can do this, why can't the united states do the same thing? that's my thought. why can't every country to say listen, if you want to operate our business, you're gonna have to invest in our country. that just makes sense. it allows, i think, a little bit of a fair playground is china. that much of a market that people are willing to pay that for in did this just hurt smaller businesses, smalle

apple is up 3.5%. a fresh record high: toward $3 trillion of market cap. that was after morgan stanley gave it an equal street hi. they say the market is already. -- pricing and future products like augmented reality and even in apple card. it is going to spin off the self-driving unit but also retained a significant state. interesting what that means for that company. >> we want to stick with that intel news. the company planted taking it self-driving car unit public by the middle of next year. the chipmaker will remain the majority on after the shares are listed. since then, the unit has been consistently growing faster than its parent. dan, how big do you think the spinoff could be? >> i think the momentum in this particular space is tremendous. we see the valuations that have gone into some of these startups. rivian, over 100 billion. we are hearing numbers like 50 billion, i think it could be larger based on the amount of success and just the secular trend of automotive and the acceleration of semiconductors and the role they will play over the next d

i look at apple as, what happened three weeks ago when we got a report that apple basically 13 was a dud i think a lot of hedge funds -- remember these hedge -- >> barely lasted a day and you were dismissive of that story and most likely correct. >> i got heat, because i was so vicious about it. >> if we hold up that number, that takes us just within a have you few billion of $3 trillion it's an astounding number. >> i know we focus on it a trillion seemed hard to imagine, frankly >> what does it mean elon musk, a trillion, what does it mean? >> you mentioned salesforce and ford within the first five minutes of the show. i'm glad we're keeping that up. >> i'm trying to deal with "time" magazine person of the year where is dr. bourla. >> you have some insight benioff owns it. >> he has said over and over again he's not going to influence "time," and -- >> you didn't tell him that, did you? >> david, you're so small-minded. >> secret life of trees? >> let's call zuckerberg -- >> what about zuckerberg "succession" was amazing our producer hasn't watched it don't ruin it for him. >> davi

speaking of apple, a record year for buybacks apple, microsoft, cheap among them who do they help we'll have that story. that's coming up next. ♪ b (swords clashing) -had enough? -no... arthritis. here. aspercreme arthritis. full prescription-strength? reduces inflammation? thank the gods. don't thank them too soon. kick pain in the aspercreme. (soft music) hey dad, i'm about to leave. don't forget your hat . good morning. how can i help? i need help connecting with my students. behind every last minute save, ok, that works. and holiday surprise, thank you! a customer service rep is working unseen, making it happen. and at genesys, we're proud to help them help you everyday. >>> welcome back apple, meta and alphabet all buying back a total $48 billion worth of stock and that was just in the third quarter even as tech ceos like jeff b bezos, elon musk and larry page sell record amounts of stock who benefits from the buyback? now with the breakdown of these staggering figures, bob. >> yeah, it's going a record year it's going to be a record year for overall buybacks take a look ag numbe

apple doesn't say anything at all. do you think that has anyi implication for how people think about it, yet alone invest sors? >> the press strategy between the two companies is very different. look at facebook, i feel like they have to engage if there is always a crisis around the corner with facebook apple, as you know, kind of, is able to kind of be a little more quiet, not really respond to criticism but in this case, there's been so many stories about these apple trackers that they have engaged with us on this story at least. they updated their firmware on these airtags so that they actually beep within 24 hours if they're near an unknown device initially was around three days that they would beep so, they have kind of responded to some criticism of their product. and it looks like they're at least engaging a little bit with us on this issue >> ryan, the people you quote in your article say it's not a very loud beep. pretty hard to hear it if you're not listening out for it and one of the only ways these airtags

looks like another good year for apple. jared, thanks. >> thanks, brian. >>> let's move to crypto, which has been an amazing money making machine the last few years the coins are higher right now but still having a tough month bitcoin below 48,000 but again context is key if you've been a longer-term crypto investor, i mean a few months or maybe a few years by that, this move lower could be good news, at least when it comes to tax time. robert frank is here with exactly why. robert >> good morning, brian crypto holders have until the end of the month to take advantage of a special tax loophole, under current law, crypto holders are exempt from the wash rule. that rule requires investors to wait 30 days before buying back a security they sell for tax losses so if you bought bitcoin at 65,000 and you sell this week for under 48,000 you can use that $17,000 loss to offset any gains, and then you can immediately buy back bitcoin at, let's say 47 or $48,000 to stay in the market. with crypto markets losing over $700 billion in m

tesla down, apple nowhere near $3 trillion, amazon down 1.5% under pressure as well. emily. emily: ed, thanks much. an amazon warehouse collapse that killed at least six people after a tornado rip through the edwardsville, illinois, has amplified concerns about the mobile phone ban on the floor. workers say it highlight theirs need to access personal devices to get severe weather alerts. the company relaxed its phone ban in the pandemic but it's returned. we have melissa, a longtime amazon employee, and spencer, who broke the news that amazon is considering pausing the phone ban as a result of what happened in illinois. what can you tell us? spencer: so this has been moving really quickly and what we know is that amazon's plan was to resume this phone ban in january. this had been relaxed through the pandemic. they've had this ban for years previously. they relaxed it through the pandemic, people needed to get important updates. and it was scheduled to go back into effect in january. what we were told is that for multiple -- from multiple people in different facilities in di

you know, i own apple, i love apple, i have been trading apple on a very frequent basis, but, you know, this ticker has met all of my price targets. at this point because of the huge momentum move we've seen, we are more likely to see it pull back in the near future at that point it will probably pull the nasdaq back along with it at that point i would be ooh buyer. >> okay. it is funny, morgan, because earlier this year we were talking about apple was a little less exciting in terms of the performance, but now it is like, hey, you know, it got jealous we were talking about other people and is really showing its stuff. >> i know. it has had such a strong year, something like 35% for the year. depending on which analyst you are following on wall stream, gene munster, spoke to him this morning, he sees another 38% upside to the stock. it is a money-making machine it has been seen as a safe haven play amid the broader market volatility on top of it you have the future initiatives which we will see when they materialize, how they materialize, but everything from apple car in the coming yea

emily: apple expanding as always, despite covid challenges. do you think these store closures will impact holiday sales? does it move online and does apple have the infrastructure for that? reporter:reporter: the majority of sales are coming online from the iphone, and the carriers were most iphones are sold. i don't think these individual store closures will have much of an impact. we've also seen individual case-by-case closures happening four or five days max. when apple does this, they asked late -- isolate who is positive. they bring back the people who are testing negative to get operations back up and running. the other thing i note is apple stores are becoming like starbucks. in los angeles, where i live, there's probably 10 or more. if one closes, there are multiple others. emily: mark gurman in l.a., thank you. in developing news, general motors has announced dan amann will be leaving. he has been ceo of self-driving. gm says along with a leadership change, they will continue to accelerate and look into markets beyond ridesharing and

emily: apple expanding as always, despite covid challenges. do you think these store closures will impact holiday sales? does it move online and does apple have the infrastructure for that? reporter:reporter: the majority of sales are coming online from the iphone, and the carriers were most iphones are sold. i don't think these individual store closures will have much of an impact. we've also seen individual case-by-case closures happening four or five days max. when apple does this, they asked late -- isolate who is positive. they bring back the people who are testing negative to get operations back up and running. the other thing i note is apple stores are becoming like starbucks. in los angeles, where i live, there's probably 10 or more. if one closes, there are multiple others. emily: mark gurman in l.a., thank you. in developing news, general motors has announced dan ammann will be leaving. he has been ceo of self-driving. gm says along with a leadership change, they will continue to accelerate and look into markets beyond ridesharing an

through apple? >> it certainly is a sensitive topic, increasingly so apple, i think, is in a pretty good position. i mean they are dependent on china. it is about 20% of their business half of the sales of ipads and some of their products there are still to new users, which stuns me my sense is they have kinds of an understanding with the chinese government apple made an investment in didiyears ago which was strange but suggests that they will put billions of dollars in various forms into china including their supply chain, and china will for the most part probably stay off their backs. it is interesting because tim cook is very much concerned about esg and issues like that and it has to be difficult given what's going on there. but he has shareholders and i think he's doing the best he can. but i don't think apple is at substantial risk in china. >> an important point, chris, talk through the risks you see from its supply chain, even iphone sales this hello season, it could be a big number but not

i am an investor in apple. but the hawkish fed has a lot to do with the move in these stocks you cannot tell me -- guy mentions this all of the time. the etf dynamics, is something we have to think about the fundamentals are fine beings extraordinary. i am worried about a dynamic where the market becomes bigger than five stories. at some point they are more disproportionate to what you want in this market. i get that that's been very beneficial with people for a long time. i am talking about the s&p a now 27%, these six or seven stocks much that troubles me. it is not about are they still investable market dynamics change the rhetoric or things people need to think about >> we have talked about this in the context of other factors how etf governs how other stocks trade even though stocks may not warrant that decline or depreciation do you see that also playing a role >> tim makes a good point. two of the pillars -- there are many -- but have been passive investing that is great on the way up, but not on the way

million and admittedly its future, to make inroads against ibm. >> apple felt like a rock band. had the same kind of spirit. they seemed to be going up against the man in ibm. >> it is aimed at a largely untapped market of managers, professionals, and students. while they make up about 75% of the white collar workforce, less than 5% now use computers, mostly because of their complexity. macintosh is designed for simplicity. using a palm-sized unit called a mouse. >> it was the first time that a machine was personal, it was simple, it was friendly. >> it took the computer out of the exclusive domain of geeks and nerds and people who had memorized the commands and put it on the desk of everybody. untrained, nontechnical people. >> stores around the country put them on sale today, and analysts say it's a good bet that macintosh could soon be the biggest apple of the industry's eye. >> it's got its best years ahead of it, eventually i want to be able to carry my mac around with me, walk around with it in my pocket. >> pocket computer? >> yes. >> you really like that mac. would you t

everyone always likes to bet against apple but everyone always buys apple, right they think that apple's best days are behind them not even close it's a familiar name to people it checks the box for both value and growth along with every other stock that mike had on the screen with him. you don't have to choose whether you want a growth environment or a value environment. a lot of those names are both. apple is the pinnacle value and growth. >> all right it's got it all. that's what i'm hearing from mr. grasso thank you. we'll let you go, mike santoli. >>> finally let's turn from the winners to losers in the market, comcast and charter, among the worst in the s&p today our parent company comcast near a 52-week low after comments from its cable ceo at the ubs investment conference. let's bring in julia boorstin with more on that story. >> well, kelly, the key thing here is that the company warned comcast/cnbc's parent company did warn they will see fewer broadband net additions in the fourth quarter than analysts had been anticipating. for the full year they thought there would be 1.3 mil

apple is down a bit, and it's bounced very quickly in the last 15 minutes or so the apple story, i'm totally with jim on this dan ives says iphones are going to be robust he's talking 40 million iphones during the holiday season. but wouldn't it be nice, with all of that said, wouldn't it be nice to see a bounce in the value sectors today? johnson & johnson is finally bouncing as well it would be nice to see a bit of rotation going into this group parts of the market have been trashed. remember the marked used to move together not anymore. big dispersion there there's a 30 percentage point spread between microsoft and apple and did i any and boeing, and almost american express. is that a lot? yes, that's a lot. absent as individual stock story, that's an enormous dispersion in a two-month period i don't know if we'll get that bounce if you want to look at a bigger level, s&p growth is up 9%, value is essentially flat. until we get more news, and i think it's the december 15th fed meeting where we'll have more news on the omicron and the virus and its transmissibility and the effect o

i get this apple question a lot. people, go for the firm apples. give your apple a little squeeze, like a honey crisp, granny smith, a rome, a braeburn. granny smith is great. but you know, i kind of wanted those red apples for christmas to match your dress and shades of your tie and all. we all have a little red in us. i'm wearing my christmas sweater, which is a black t-shirt. >> sure, sure. >> and then we just put those in a biter buttered dish. cinnamon, ginger, salt. >> here we go. >> lemon zest, dry white wine. >> is this how we finish this off here? >> yeah, so, this is our little -- sort of like the equivalent spa treatment we gave the ham. we give that same loving facial to these apples. >> it's like a love bath for the apples. >> take a nose bath. you can smell all the flavors. but the white wine is keeping them savory. we pour this over, and you bake the apples until they're tender, 20, 25 minutes. reduce that sauce down on the stove after and go ahead, glaze, drizzle. just pour it. >> i'm going down to eat while you guys take over. >> s

hey, everybody that has anything invested in any large cap domestic fund has to love apple, apple seems to be rolling along, dragging everything else with it you have a dynamic where you get a bit of the best of the both word, the tech sector, the stay at home play and that thing. apple is a tremendous company, you get a little bit of a dividend yield there again, i love it but put me in the reluctantly bullish camp. >> you talked about apple, lee is that maybe not your best idea i called it a utility on the air the other day, people said it's not a utility, i feel it is i pay a monthly fee regardless of thinking about it. is apple one of the best bets for 2022 >> yeah. if you want to call it paying the monthly fee here with a wife and two daughters, apple gets a lot of our money, candidly, for full disclosure, i have a holding not that it matters with a $3 trillion valuation. i would say apple is one of my best picks from a 2022 perspective. >> lee baker, apex financial lee, thank you very much for joining us appreciate you getting up early. merry christmas, happy holidays. >> always g

i thought apple broke it when it hit $1 trillion. now it is thumbing its news. months ago we were talking about microsoft passing apple in market cap now they are $400 billion away -- is that right? my goodness. something different is happening here with apple and these mega caps. >> it's interesting. $3 trillion is a big number. it gives investors to chance to take stock and think about where to go from here. for our investors and traders, they have to decide how well they think the iphone 13 cycle is going the perform the 12 was sle strong, that pulled for the demand, is the 13 going to disappoint. or is the demand going to be there given how many millions around the world are still linked to older devices. and you have to think longer term, who are the mega tech trends and is apple positioned to capitalize on them >> it is interesting as we see the analysts jump on the bull case i wanted to ask about the skeptic case we have so much uncertainty. supply chain constraints, there is focus on what is going to happen with the iphone cycle what is the bear case for

you mention it the competition you think apple -- apple has got some great workout fitness stuff going on there >> yeah. >> you think it is not going to be a serious issue you mentioned it, brian. come on. >> fair enough but as a peloton user, once you have it, once you bought the bike, once you pay the $39 a month, you can sit at home even on a beautiful day, watch "tech check" at 11:00 a.m. eastern time while you are on the bike >>> we are going back to deidre on this one. finally, china's uncertain future on wall street. it has been an absolute terrible name for stocks like jd.com, alibaba, and tencent music is down by 70%. it is the peloton of china the drop came as china hammered companies across from tutoring to ride hailing with strict regulations. now they're trying to work out china's new ipo rules proposed last night what does it mean for chinese stock. deidre, you covered what was getting delisted here is my beef. i don't care how great a company may be, if you wake up one day and xi jinping decides that company deserves not to be in business or the ceo goes on vacation for

the apple falls. why demand is slowing for apple's most popular device. omicron keeps popping up around the world, but a new treatment could fight it. i talked to the maker behind the promising drug. shoppers are scooping up one-of-a-kind gifts, as we see, but will they make it on time? the ceo of etsy calls me to tell how he is making sure everyone has a happy holiday. with another volatile day, what did we see? >> we had the biggest today decline in u.s. equity since 2020, the biggest one-day jump in the s&p 500 since october of this year. investors have a lot to take on board, volatility associated with omicron and what the fed might do. this pocket of weakness in technology shares -- you see it reflected in the nasdaq, a tech heavy index, and in the faang plus index. a lot of that to do with apple. on a day where we were really in risk on mode, they were selling currencies across the board. some other important news comes around u.s.-listed chinese companies. looking at the nasdaq, the index at one point was down by the most since september, but pared

that was very impressive to see apple. it was either within ten or 15 cents of up or down at the end of the day yesterday, dom. and that's pretty impressive given the just whack that a lot of people gave to some of those mega tech names, mega cap teches apple they continue to bet on upside calls all the way out to nearly christmas, dom. not just very, very short term like december 10th today, but out a week, two weeks, all the way to the end of the year they're betting 175, 180, 185, those are all numbers. you and i both know why, because anything over what is it 182, dom, puts it at a 3 trillion market cap i think that's part of what is driving it but then it's speculation on the ev that they may be involved with, whether they make it on their own or not i think that's a lot of the speck that's got apple shares bubbling higher. >> we know there's certainly a lot of retail and institutional interest in apple specifically it's a magnet, it's the biggest company out there and it gets a lot of traffic where else are you seein

they are developing a modem to replace qualcomm eventually in its devices, iphones, apple rice -- apple devices. that's near qualcomm. so now apple is starting to recruit for an office in irvine, california. what is in irvine? broadcom, sky works, x peak, and a few other companies that are developing components for wireless chips. now job listings are calling for people to make those types of components. what does that tell us? apple wants to build more for its devices, reducing suppliers, and moving as in-house as it possibly can. shery: it won't help those other companies given we continue to see the labor shortage and this competition for skilled labor. what does it say about apples structure in the future post-pandemic because we had a more centralized version pre-pandemic. what is going to happen to that? mark: the days of apple being the cupertino company, the days of the apple part being the center of the apple universe, those days are over. they still have tens of thousands of people in the apple park office in that area. but what they've done is they've created satellite office

s&p tech the only positive sector over the last month slow down in iphone demand apple joins the rest of tech in this week's selloff. we have an analyst who is still bullish. >>> plus a trio of earnings interviews ceos of snowflake and okta this hour dee? >> roller coasters have taken this past week, vix down massive end of trading yesterday but still almost 30 and the dow and s&p rise for the first time in three sessions the nasdaq is trailing though it flipped into the positive, flat for now. software names have really fallen behind. just the past month, growth names like zoom, crowd strike and spulnk falling more than 20%. mike santoli joins us now. mike, nasdaq sort of on the flatline, now turning slightly into negative i should say but what's been happening the last few days is interesting if you want to blame omicron, you might want to see the state home names catch a bid but that hasn't been the case we mentioned zoom at lows we haven't seen since last year >> exactly it doesn't fit too neatly into this idea we're migrating back toward lackdown type economics and privileges tho

it has a terrific run for apple. credit to them, they have executed really well, driven the services business, and investors are increasingly recognizing apple as an extraordinary consumer brand that said, as we look forward, we have seen the stock go up 25% since october 1st. the stock is trading at 33 times forward earnings, which is about as high as apple has traded on a multiple and this would be the third year with a strong end of year run. we haven't seen that pers particularly ending 2020, going boo 2021 we had a similar phenomenon, about 32 times earnings. it underperformed somewhat in the first half so i don't think there's anything, quote, wrong with the apple franchise, but the stock's had a tremendous run, particularly in the last three months i'm not so sure that necessarily persists in the first three or six months of 2022. >> one of the things you've been thinking about for the longer term, though the is the stock buyback. a human amount of shares you actually think they could continue this for a very

. ♪ guy: apple currently trading 117. morgan stanley raising its price target to a street high of 200. the end of benefits stemming from new products come in particular ar and vr. joining us now is bloomberg's ed ludlow. how do we get 200? how did she think we will make it? ed: it is interesting. she basically made the point that if you think about your services -- new services and product along the way, we are talking about apple watch, airpods, services, she does not think those future product lines augmented both reality and some kind of car product are reflected in the price. the big problem with that is the secrecy around it. mark berman does a good job of breaking the scoops of what is coming up, but in the interim, we do not know the substance of these things. and she think that will be more effective on the share price. alix: she is not the most bullish analyst on the street or anything. do other analysts who have the bullish price target have the same thesis or do they see it as the apple super cycle pushing it h

but this has been a year where the apple card project has had a -- the apple car project has had a number of high profile departures. the most important one probably being doug field, and ended up going to forward it to be ford's chief technologist. there is so much interest for this project. i love the image, because we don't know much about the car, but what we keep hearing is there is a merry-go-round of executives there. emily: what do we know about the design or product that apple is working towards? we still don't really know a lot about the endgame. ed: yeah. so there was a really important bloomberg scoop last month, that apple has made a firm decision to make a vehicle that is fully autonomous. think about what zoox or g.m.'s crews are working on, a vehicle that has no steering wheel, no pedals. they have not been sure, according to sources, whether to go that route or one you can drive yourself. they are going in on full autonomy. the aim is to have something by 2025, which is super ambitious. emily: can apple really bring a car to market by 2025? especially when it is losing al

i have an apple phone, you probably have an apple phone, i have apple ipad, apple music, i can escape apple. i have no desire and i think most people out there in the apple landscape are like me so they will be buying the new products and then as apple gets into new things, whether they fail or not, who knows what will happen with the meta- verse, but they will get into something else that probably works out. i think they have a great future, not without bombs like any company, but my gosh if you own apple certainly don't sell it at this point. jackie: to me apple devices to count on one hand, so even if there is a supply chain issues a short term within the next three to six months or whatever the case may be it's likely that apple will be able to overcome just because of its market dominance. how do you feel about that? >> i agree 100%. the brand loyalty for apple is significant and the ecosystem really is as gary said a tremendous moat. i like both of you have an iphone and an ipad and watch apple tv and i have apple music and i have all of my music on my phone and i can't imagine

we will look at apple. we will look with michael dart at the american it -- michael darda at the american economy. claims at 8:30 gets us ready for the jobs report tomorrow. jonathan: then we look ahead to next year as well and a federal reserve meeting on december 15. there are two kinds of forecasters, those who don't know and those who don't know they don't know. which one are you as we go into next year? tom: helane becker will join us on international travel later in the hour. i look at what is going on in germany, the article that makes clear shoals is making a mark. jonathan: more testing -- clear shoals pop -- making it clear schultz pop -- making it clear scholtz is making a mark. tom: you see the vic's back near 30. what are you see in bonds, and credit? lisa: you are not seeing a material tightening in financial conditions. yes, you're seeing riskier yields go up, but it is nothing that dramatic. funding costs are still very low. to me, this gives the federal reserve a green light to continue wit

nasdaq earlier gains on pace for the first down day in the last five plus, apple now falling after hitting nearly a $3 trillion market cap once again, despite this morning's dip the stocks on pace amount to 35% return in 2021 and as apple remains near those record levels so do many of the chips on semis, kla, broadband, all hitting all-time highs we'll break down the street's top picks, diedra. >> we're talking about the best stocks s&p has slipped into the red apple was inching closer to that $3 trillion market cap the stocks, though, falling a little this morning after approaching that 182.86 level. that is the mark however, stocks have risen with covid cases prompting 'to close all of its new york city stores. limited activity, picking up online orders only as the cdc shortens the recommended period from ten days for individuals who no longer have covid symptoms and, guys, as we watch apple approach, investors show a willingness to look past the retail closures. also the chip shortage, which we've spent a lot of this year talking about, joanna, a perfect storm for companies of this size

it's apple. i'm not a big fan around numbers and all that jazz and the media but we are going to play that game through the day here at bloomberg and elsewhere. what is it? 182.86? kailey: that's right. the value of a growth rate that was supposed to be the story in 2021 did not play out. that whole we are going to 2% did not play out. that strong dollar persistently through the year catching people by surprise. steven englander at standard chartered joining us. do you think we are getting closer to peak dollar strength? steven: we are getting closer but we are probably not there. the support for the dollar is ebbing. there were two factors driving the dollar up. one was the fear of covid and the disruption that it caused in the second is the fear of the fed. we are seeing covid fears ebb very gradually. what is to be seen is the fears of the fed and how is that a going to be triggered by the market seeing peak u.s. interest rates. i think we are not there yet. we have to see some sign that infla