what about apple pay? how much stronger does the update make apple pay? can they take on paypal at this point? cory: this is a serious competitive threat to paypal. gene munster is on the same lines. apple has this great position. they have the users for these devices and are opening the api so companies can use apple pay. if you go on to an e-commerce site and you're using safari on a desktop or mobile device, safari users do more commerce than and when users. the ability to do that using apple pay will drive folks to do shopping on your phone and take market share, on some degree, away from the incumbent players. paypal has the most to lose. emily: cory johnson giving us a round up from downtown san francisco. thank you so much for giving us the scoop. i want to head to another huge story we are watching. hours after microsoft announced the $26.2 billion acquisition of linkedin, goldman sachs was advising another possible bidder. i want to bring in alex sherman, who has been a scoop machine today. who else was looking to buy linkedin? >> we are still tr

something around apple pay. there has been discussion around -peer payments and around being able to use apple pay on websites, about apple music and making it easier, and as we talked about, siri. software is important, and it is often called the soul of apple products. it is the differentiator for apple products to their competitors do not have hardware and software working together. they have hardware and rely on android for the software. that is how they continue to differentiate. emily: and this is gearing up to iphone 7, right? we assume there will be another release in the fall. as far as we know, it will be incremental as first changes to the hardware. ian: that is what the indicators are. it was reported recently, big changes in next year's product. that applies that this year's product will not be such a blockbuster. but there is some changes, perhaps integration for touch, and that will be tied more closely the phones which use that come a making it more compelling. ian king,x lenwebb, and brian white

feel about the apple music? >> well, the irony is that there were a lot of conversations going on with myself and apple and leading into father's day, she is in london and sends me a text from amsterdam to say happy father's day, and then she sent me a link and said, don't be mad and i had a response that you have no idea how good the timing is. and so we worked with jimmy iovine and others to understand that since they had not launched the product yet, they could listen to voice of the creative community and do the right thing. how many times does a huge company like apple have a chance to do something for the greater good, and they made the right decision, and decided to pay everybody for the first stream instead of the free 90-day promotional period. >> that is a big move. do you continue to converse with apple music on what you would see and what is fair for the artists? >> all of them. we have to keep the conversation on the edge and speaking to youtube and google and what they are doing, and we have to kee

let's trade apple here. is this something that you trade off in your view? >> i'm out of apple. i sold it a couple of points ago when it broke that 92 level. that was important technical level. i'm waiting to get back in. for now, i think it's a sideways to grind lower. >> i don't think expectations are particularly high -- >> a purple prince phone sounds pretty good. >> they're talking about colors. the last watch event we got watchbands. we didn't even get anything new. to me, i think it really is all about the iphone 7 coming in september. if it is the same factor of the success, i think the stock's going to break off the 90 level. >> siri's got a good sense of humor. >> i was out there for -- i ran out there and back, by the way. they didn't really know who siri was. i know that's not a huge driver for the phone, not like they're making money from it, but a lot of folks making siri out there. >> siri has been proven to almost absurd. >> we should have asked siri that. >> to me, this is not a driver for the stock. the drivers for the stock as dan said, it's probably an iphone

it is overall, what we are looking at with apple is do we believe that apple is the next twitter? in other words, do they screw up and not get instagram? because that is one of the things that we all thought that twitter should have gone after, and of course, facebook got it instead. i think that with what echo is for amazon, that is siri, and how apple has not been basically able to take something other than, you know, the $700 phons s and turn them into -- >> and mary meeker's forecast is much more dire for the long -tem outlook for apple in that, i mean, the basic premise is that other companies out there are innovating with just much more exciting things that are going to be dominating the future whether it is a/i, vr, virtual reality. >> well, apple is a pure follower, and they always were, and now it is cast in stone, they are a follower. they are a follower in the karsh and we don't know where it is going to be and so is the phone. samsung is much more technology rich. >> and siri on this is basically what ekcecho. >> it is terrible. >> i think it is great. >> you use it mo

apple's blueprint for the next generation. the tech giant renews its commitment to the tech giant at the conference and ask developers to get in on siri. and the must watched moments from the bloomberg tech conference. that, and much more later in this hour. first, to our lead. we kicked off the week with microsoft announcing the acquisition of linkedin. 26.2 billion dollar acquisition, one of the largest ever seen in the tech industry. microsoft is paying $196 per share in an all cash deal, taking on $25 billion in debt. for details about the megadeal i , sat down with the microsoft ceo and the linkedin ceo and asked about the synergy of the deal. >> it is about really bringing together the professional cloud, which is at the core of microsoft and the professional network. the dream we have always had is how can we connect these two worlds so that our mutual users and the professionals of the world can get their work done more seamlessly. that is the vision. bringing the network with the cloud i think is very transformative a

emily: given that apple has not made a huge deal, does this change the landscape for apple? >> linkedin is primarily business service and if apple defines itself as primarily come -- consumer service. so you could say, not particularly. on the other hand, this is a social network of great importance with a large number of users. people have personalize and business lives that overlap. i would say it is a strategic move by microsoft and apple is behind in social networks. they are behind and not there yet. emily: people have talked at length about the possibility of apple buying twitter. certainly interesting to watch how things develop. that was the early investor of siri, and bret taylor. was the microsoft-linkedin deal just the tip of the iceberg? later this hour, the eye -- the highlights from this e3 gaming show. ♪ emily: this week at the 2016 bloomberg tech conference we caught up with the -- we caught up with marc andreessen. i asked him about the current state of silicon valley and when we will start to see investor exits from the most prominent startups and what th

apple's big event under way. the ceo tim cook set to speak right now and josh lipton is there live in san francisco. josh. >> this show just about to kick off. remember apple has four different operating systems, right? mobile, mac, watch and tv so there should be a lot to talk about today. two really big pieces of news we're anticipating, tyler, one has to do with siri, that voice activate ed virtual assistant a you could use siri to order an uber. there is this fierce war when it comes to virtual assistants. apple's siri, alexa, google assistant. these tech giants maybe could use virtual assistants to move hardware. for example, the team at forester think they've sold 3 million amazon he can coast. maybe you open it up and get a piece of that but first and foremost even before the business model all these tech giants and event, developers and consumers and investors that they're all keeping pace with each other and what's thought about as the next great phase of personal computing, also today we think we're goi

is apple pay. they have been rolling it out to lot ares more people yesterday, and lots more merchants yesterday in that you can use it on the web and authenticate your purchases with the iphone, and those are big deals, but we won't know for a few years until they are adopted more and the way we use technology, so it is hard to tell with these things beforehand and especially at the la launch announcements. >> farhad, we appreciate it. farhad from palo alto, and brian here at post nine. >> we want to go to sue her h rare ra with breaking news. >> in is the congressional national committee, that cnbc has confirmed with a earlier story that the russian government and hackers penetrated the democratic national committee computers, and so nbc has said that it is so thoroughly compromised the dnce.t mail, and chat traffic that according to the dnc officials and one of the several targeting political organizations, and the networks of presidential candidates hillary clinton and donald trump apparently w

also happening today, apple's developer conference. wwdc. of course, microsoft has been stealing the spotlight this morning, but apple also expected to talk about the cloud at wwdc and a lot of the issues connected to this microsoft/linkedin deal. joining us is walt mosberg, editor at large at re/code and executive editor at the verge. he's at that event also in san francisco. nice to have you. >> great to be here, jon. >> so i see a common thread between the microsoft/linkedin acquisition and what we expect to hear out of wwdc. that is, megaplayers in tech who want more data from the cloud that indicates what people want to do, what they are willing to buy. for apple to be a bigger player in that theme, what do we need to hear from them today? >> well, i think you have got it right, jon. i expect there will obviously be a bunch of things here but i expect the headline here to be a real big ramp-up in what siri can do, what third party developers can do with it, and just some demos where they will try to show that they're in the game 100% wi

apple to stop selling the iphone 6 and iphone 6s sent the shares of apple into the red, and under pressure still at this time. but then apple clarified what it mean means. apple said that the iphone 6 and 6 plus and 6s and 6s plus and iphone 6e models are now all available for sale in china, and we appealed a administrative order from a patent tribunal in beijing last month, and so since, the order has been rescinded. so now, apple is saying that it has to make its way through the chinese court system, but as of right now, there is no interruption to the apple business, and all iphone models are for sale in beijing, and there is also a report that the company will stop production of 6, 6s and 6 plus, and apple say s ts that is not true. but you can't blame the investors for being nervous. some of the 15% of apple's total sales comes from mainland china. when i spoke to tim cook after the company last reported results, he said that he is long term bullish on china, but he said that the companies doing business in china at least right now no longer have the wind at their backs. guys, back to

>> apple has proven that maybe apple is the only company that's proven that. but apple has proven if you build it, they will come. >> thanks for being here. good to see you in person. appreciate your views and happy day for you on a couple fronts. >> i can go buy a car now. >> look at this guy's watch. >> you got a nice watch. that's a beautiful watch. >> here's what else is coming up on "the halftime report." >>> still ahead, how stressed is silicon valley? we will talk to a top pc investor about valuations in the valley. and the unicorn that's getting ready to ipo this month. and the man who is getting against facebook. why he's shorting the tech giant. ♪jake reese, "day to feel alive"♪ ♪jake reese, "day to feel alive"♪ ♪jake reese, "day to feel alive"♪ >>> welcome back to "the halftime report" at one market in san francisco. we are awaiting the fbi director james comey. he is set to speak momentarily in that room you see on the right-hand side of your screen on the orlando shooting. we will take you there as soon as we do see the fbi director em

the chinese to want the brand apple. apple is a magic brand. china doesn't want american brands to the magic and carry premium prices in china. they want their own cell phones to be the number one brand in china. apple can compete again. apple will compete in china, but they have to lower their prices. they just are. even for chinese shipping products over there. we've got to wake up to china, charles. i have been a mess. we have to. charles: if they acquiesced and lower prices, so we lose? >> it's not standing up. there are other things we can do to stand up to china. it is all just talk. we are fighting a war in afghanistan. charles: before you finish up this statement. there you go. >> we are fighting a war in afghanistan which is for china's benefit and we don't even know it. charles: thank you very much. we love you, buddy. the state department wrapping up this process to bring in searing refugees to this country. believe it or not, it will not have come in since the olinda shooting in the administration want 10,000. they were once more. f

and that is a change for apple. the tech giant in the past has offered such aid and assistance like loaning computers, for example, to both republican and democratic conventions. but the decision isn't really too much of a surprise. there is no love lost between apple and donald trump. >> we're going to get apple to start building their damn computers in this country instead of other countries. >> reporter: but apple's decision to pull away from trump does not mean ceo tim cook wants to distance himself personally from the republican party. he will host a fund-raiser with house speaker paul ryan on june 28th. in menlo park, california. at a private breakfast, cook will help drum up cash for ryan as well as a committee to help elect other house republicans. apple does not have a corporate political action committee. so cook is hosting this fund-raiser on his own accord i'm told. in fact, cook has donated money to both sides of the political aisle, with both republicans and democrats receiving checks from apple's ceo.

apple optimist and i'm wondering if too much? >> well, there is gloom and doom out there around apple, and we saw the same thing in 2013 and the stock more than doubled so, as we are looking into the fall, we have the iphone 7.0, and the profit cycle and the profit at the end of the june, and the stock is dirt cheap. >> and i have a guy in front of me telling me that apple is dead money in the near term. tell me why he is wrong? >> well, people are going to be anticipating the new iphone, and the comps will turn positive. looking out in the market, and we drowngraded a company corning trading 16 times the earnings, and it is grown earnings zero percent since 2007, and apple has grown 39%, and trading 8 times net cash, and so there is a big disconnect of apple and other companies, so i think it will catch up. >> and what is the lead time, brian, because we will be out there monday with the worldwide developers conference, and nothing there that is a catalyst, but it does not come late july and maybe mid august of the announcement

how much of a chance does apple have in cars? collis sake: you should never count apple out. person to very brave short apple. you are right in describing that there is tesla. every current large manufacturers working on an electric or self driven or autonomous car, but you just never know. i think that it is to be determined. i hope it is true. i hope that if apple makes an electric car, that it uses standard chargers. they do not make you buy a $1000 connector to put in the standard charger. i hope it does not require special electricity, but i cannot wait. i cannot wait. in the latest edition of , kerryh revolving door trainor is leaving his post. he helped build a niche outlet for filmmakers into a destination for high and internet tv series. the company tripled its monthly millione to over 280 and count 710,000 paid subscribers. ownas begun funding its original programming. next, our exclusive interview .ith gm ceo mary barra be sure to tune in tomorrow. we will catch up with hewlett-packard enterprise's ceo from the hp discover conference. tune in 2:00 p.m. eastern, 11:

apple fits that category. yet it can't get off its own back. >> i think almost the instant depth of the smartphone has been the talk over the last couple of months. i think the iphone 7 refresh is something that we're now kind of two years waiting for this. munster talks very highly of this. i think you have a place where the comps have gotten to be pretty attractive for apple to beat them. i know that's not terribly exciting, but what do we expect from wwdc. this was not supposed to be anything but a software update. so i don't -- i'm not disappointed by this. i'm flat the stock. i sold it last week. i think there's plenty of room to trade this stock around here. i don't see much moving it. i think it could be a place that still an atm, i think we've learned in the last six months, a lot of the big investors are already out of this name. >> i'm also flat the stock. i think it's valued as a hardware company. >> it is a hardware company. >> that's what's being valued at. >> i think that by its nature, a hardwar

you don't know the new apple everybody hates. last week. apple's best days are behind her. threw her hair back. dad, you can't even get into an apple store. isn't that the story of apple right now in a nutshell. hey, maybe someone else went to the short hills mall, couldn't get help, instead bought the stock and that's why it went up otherwise it's a restaurant that's so crowded nobody goes there anymore. so without a doubt, nothing to trade off and nothing to make a case for, real boring despite super rich guys like carl icahn and george soros telling you how scary and dangerous it is. i learned early on never short a dull market. since this may be the dullest market in ages what can i say. it's resting and nothing more. or nothing less for that matter. let's go to john in new jersey. john. >> caller: jim, how are you doing today. >> i'm having a real good day. how about you? >> caller: i'm doing okay. i called about oil industry and two stocks in particular just curious on your opinion of them and what you think they may do. with oil prices going up and looking ahead, bet

apple did file an appeal. and its phones are still on shelves. >> the question is, what does all this say about doing business in china, specifically for apple, and other companies. joining us now is don rutledge who has done business and knows about doing business in china. the question investors have to be asking right now, don, is this going to be a big -- an increasing risk for apple going forward, especially in light of the fact that icahn warned he was getting out of the stock because he was worried about apple's business in china, and letting apple do business in china? >> well, number one, i think apple is too cheap, and even more too cheap. number two, they are going to have increasing trouble. this is a silly patent ruling. china's always been squirrelly about patents anyway. but in this case, this is a patent filed in the beijing court for beijing only. and it's about the outside look of the phone. it has nothing to do with the technology of the thing. but it shows you the government is increasingly

those are the operating systems that run apple watch and apple tv. meanwhile, let's just cult to the chase. let's go right to the inside source here. i'm going to ask siri here what is going on. what is coming up at wwdc? >> i'm so excited. you can find out all about wwbc on apples website. >> okay. looks like i have more research to do. >> look at siri getting in on the report. the tsa said it is now getting people through security lines quicker after key rent long lines have caused thousands of people to miss their flights. the head of the agency said 99% of passengers went through security in less than 30 minutes over the memorial holiday weekend. they have added lanes and increased staffing during peak travel times. >> let's get a check of traffic now with elizabeth. >> we're going to take you out to san jose this morning. we have our photographing standing by, showing you a live picture heading into the heart of san jose. northbound traffic, tail lights there on the right side of your screen, approaching santa clara street. as you can see, every

we talk about apple as a platform. apple is a multi sided platform. system sitting between the consumers and hardware and the content developers on the other side that they tend to subsidize. what you are going to see his developers, making the platform stronger. that is an analogy to the linkedin deal. this conference is an likely break you out of the range. how much pressure does that put on tim cook and apple on the new iphone coming out in the fall? as we have looked at it we think the iphone seven is likely to have modest growth. it doesn't look like the features will be tremendously different. we have issues with people waiting longer to upgrade. china is weakening on the margin. i think apple takes a longer term view. metric iser one customer experience and customer loyalty. on one hand the ecosystem has never been stronger. on the other hand the product cycle is quite weak. we expect units to be down double digits. we expect modest growth on the cycle. the reason we have a bye in the stock is because our dcf analysis suggests only in a blackbe

apple has been trying to get around these. the last we heard was that the government would hold apple responsible for meeting local sourcing rules to open its own retail sources. now, india has overhauled a bunch of regulations to get more foreign investment. they think there will be a grace period for apple. there could be a three-year grace period to open up retail stores. emily: you said there were barriers to india being bigger. do you see some of the barriers removed? >> look at the headlines and there are more people in india in the next 10 years than china. at quick glance, the opportunities are parallel. the gdp per person in india is 1/5 of china. so, yes, the news does make it easier for apple to open up the stores and to build brands. there are still economic hurdles that they will need to get over to capitalize on that opportunity. emily: we know that tim cook visited india recently. wire the rules finally being relaxed now and what took so long? >> they want to show themselves as being more open to business and it

i sold my apple. i sold my disney, i would rather be a seller but the problem is this is really an aggressive run with the s&p -- >> so the new highs. you're waiting for new highs. >> i'd rather see that first. >> jonathan, thanks for joining us. >>> the ceo of one of the biggest airlines in the whirl had disturbing moves about the econo economy. >>> plus a top opec official that could have big implications for oil. what he said this could have major implications for crude and the donald heading to the tech mecca but will silicon valley give him the cold shoulder? that and much more on a very busy "fast money." the call just came in. she's about to arrive. and with her, a flood of potential patients. a deluge of digital records. x-rays, mris. all on account...of penelope. but with the help of at&t, and a network that scales up and down on-demand, this hospital can be ready. giving them the agility to be flexible & reliable. because no one knows & like at&t. >> welcome back to "fast money". >> a respon

week, and that's because apple's focused on the number one gripe for apple watch users, which is performance. people are satisfied with the battery life, but it is how fast the apps are and how quickly they load. they hit that head-on. i think the next major thing for the watch is independence. as soon as this thing is independent and has an even faster processor, i think we will see the developer ecosystem for the watch take off and disrupt industry in a more profound way than we saw with the iphone. cory: so the battery light will be less, there is a faster chip, so the power consumption could be worse. ari: we will see. apple will find a way to shrink the other components and make way for a larger battery, and it will have even better battery performance. cory: the bigger phones, i feel like when i go for a run, -- it is like i stole a tv or something. do you think that happens this year? ari: i hope so. you are asking me, i think it will. i think the apple watch 2 will have independent connectivity, and that will be a game changer. cory: so you are putting your company and assets towards

even eat apples. >> i love apples, i love apples right? i don't have a problem with apple it's just the -- never mind. 72 degrees -- you don't want to hear that nonsense. you really probably do i don't have time to get into it. 61 degrees culpeper and 63 winchester and 64 for frederick and look at annapolis this morning at 72. the sun is coming up. we have clouds and it still looks like it's beautiful out. takes nice day. we'll warm up. starting off in the 60s and 70 70s. call pepper you may get down until the upper 50s before all said and done. here's the forecast today. 71 this morning at 8 . lunchtime 78. certainly warm. we're going lower to mid 80s today. touch more humidity than we he yesterday. but it still looks like it will be real, real nice out there. now look today is last dry day. we introduce rain going into the forecast tomorrow through friday okay. we'll talk more about that coming up. right now time for erin she has a look at the traffic forecast on tuesday. not so much traffic forecast but whas we call that traffic now cas

and still, the report did send the apple stock lower and it is in the red, and apple stock down 10%, and down nearly 25% in the past 12 months, and we know that beyond the case, the tech giant has been dealing with near term pressures in china, and the regulators are suspending the books and the movie business, and in last earnings report, apple said that revenue in mainland china dropped 11%, and specifi specifically with this case, the analysts don't seem too worried, and reports that if it does happen, it is only going to impact sales of apple in beijing city itself, and so it is not going to be an impact of the margins of revenue in china as a whole for apple. >> but josh, it does raise interesting questions of what could happen next, and it is not like beijing is insignificant mark marketplace with just a few people running around. >> no, it is absolutely true. you had the order from what i understand, and apple is fighting the order, and now it is going to move through the court system there. i think that the important point there is that as it moves the sales right now, and no

david: apple is under pressure on a number of fronts. now comes another challenge, apple has lost a patent fight in china and it could spell more legal trouble ahead. anding us is matt larson betty liu who has been following the story. matt, walk us through what happened. this is specific to beijing. matt: essentially what is happening is, there is a small rival in china that has asserted apple's iphone products infringe some design patent that are directed to the way a device nots, the way it appears, any of the internal functioning of the phone. injunctionranted an that essentially would require apple to stop sales. apple is appealing the decision but the question looms whether chinese courts will have the authority in the future to ban future sales, whether additional rivals will come after apple for similar legal claims. vonnie: does apple face any immediate sales threat? betty: possibly, but not likely. i'm curious to hear about some of the attempts apple has made here to do well with the government, tim cook went to china, they inv

about applelearning music, apple tv and apple pay at this conference today? i think one of the most important things going on here is the thing that would excite the developing community and not excite the average consumer out there, but since we have a bloomberg is this audience, i think we can talk about this, which is the way apple has collected money. the way it has collected money is to take a 30% cut of every single app that is sold. but that's a one time thing. little apps that run little businesses that can survive a small payment upfront because there's no money from the backend. then apple gets 30% of all in app purchases. you look at the kim kardashian game and the purchases that inform that, it was 30% with every purchase. apple was expecting to announce a change in the way that works. there's 30% upfront but in subsequent reorders every year, apple would only get 15%. that might not inclined developers to think about if i develop a subscription app instead of one-time pay app, i payment from more and companies that could grow over time as compani

in relation to whole apple and fbi and opening the phone. deirdre: after the san bernardino murders, and the fact that app eel. >> i did not realize that. and by the way it was a different issue. mine and i think that a much more serious issue, a free speech issue. it is the fact that corporations, you know i am a ceo, i am a conservative republican, but i would never, fr try to turn off half my customers by gets my company involved in politics, half are bound to be democrats and half bound doing republicans in a very divided nation, it is crazy, is a cottic -- psychotic and stupor and dangerous of tim cook -- deirdre: i need too fill in our viewers are you responding to fact that tim cook said that apple would not donate any kind of goods, services or money to g.o.p. convention in cleveland? >> yes, in article where it was said he did that, it said, i don't know if it was his quote or apple's quote, but, they said, that it was because donald trump had offended minorities, muslims and hispanics, i am a white male, i am offended of debut a wo

i pay apple but apple had a horrible meeting. i don't know what happened but it was horble. >> on linkedin we talked to nadella yesterday. today sorkin write in the "times" about the stock based comp. >> adjusted. >> crushing load for linkedin and its employees. >> well, look, i've been back and forth with some of the people at these companies and i think that linkedin solved the real problem for microsoft which is, we're not growing with our cash. we can really accelerate our growth and linkedin did have a problem with that. but the fact is, is that linkedin had remarkable growth q4 to q1 and it didn't get any credit because in the ridiculous conference call that they hosted they used a lot of buzzwords that we know drive stocks down. that was one where they needed -- that was like a total non-tony award. i mean it was like -- they really -- they were not up for tonys. it was extraordinary. i mean, it was one of those comp calls where every word they used was a word that said, sell linkedin. then they spent the rest of the time

we feel it was a good decision to go with apple with siri because apple brought this entire paradigm. they had a smartphone. they are incredible marketers. they did it in a compelling way. don't know exactly how this is going to pan out yet, charlie, but we are going to go for it and finish the job that we started. charlie: beyond this. broadening out to a larger canvas, where is artificial intelligence going to take us? dag: that is a broad question. think we can start to comprehend all of the different applications that will come out of this. more andstart to see more applications like the applications -- we saw things like the deep mind. against -- alpha go. charlie: in my right? dag: that was supposed to be 10 years from now when a computer figured out how to -- charlie: that complex. dag: you cannot compute out all of the possibilities. it was a combination of classical techniques. that was a surprise. it was a surprise that that happened so soon. charlie: why did it happen so soon? dag: you have some very smart people at deep mind that have applied these new techniques to this p

apple offended me in various ways. i have an apple desktop, an apple laptop. i have four kids and i've got multiple businesses. they all use apple products. i don't know if tim gets it, you just offended people like me, never republican in america, i no longer want to buy apple products. if they don't make a decision, a change in direction very quickly, as this week, they have lost me as a customer forever. >> it's interesting. i know you told a producer who talk to you yesterday when hillary said last year businesses don't create jobs, government does, did i ask apple to boycott the dem convention? and there are a number of companies that are pulling their sponsorship from the rnc. there's apple, ford motor company, hue let packard, u.p.s., motorola, walgreen's, wells fargo. what does that say to the average republican or conservative or somebody who leans to the right about those companies? >> look, i have a new book coming out in september, it's called "angry white male" i think it sums up how a lot of us feel. you can be prejudiced against one group in ame

what's up, apple budby mike? hey, apple buddy eric. >> jimmy: you were -- did you do funny stuff with the customers? >> what would happen, the customers loved me but the other servers hated me because i would do magic tricks at the table because i wanted to be a clown when i was a kid. i would just look over and see other servers shaking their head. frickin' stonestreet. coming in here, getting his 40% tips. >> you would get good tips? >> oh yeah. doing balloon animals for the kids. >> jimmy: that's smart. you're like the top apple buddy all-time. >> totally, absolutely. manhattan, kansas. one time my manager gathered everybody in the kitchen and said, i'd like to read a letter we received. it was a letter praising me. >> jimmy: oh! >> oh, it turned the whole staff against me. it was terrible. they're all just like -- when i would be like, can you help me on table iii? they're like, yeah, we'll be sure to help you out. >> jimmy: that's not a very bright manager. that manager was not your apple buddy, for sure. >>

and apple. it is based on recent regulatory filings that provides details on investment. the company purchased 9.8 $976on shares of apple for million. that is your latest bloomberg business flash. vonnie: still ahead on "bloomberg markets," march is no wasting away in margaritaville. we will hear from the company's ceo about it lifetime brands. ♪ ♪ pursues,nd today's margaritaville has become the foundation of a booming business, nearly four decades after it was written. this growing company is made up of hotels, resorts, restaurants, merchandise, media, and lots more. schatzker, said down with the company's ceo and asked him why the jimmy buffett brand is much more than just a state of mind. >> the business is a lifestyle brand. we like to say whatever your latitude, we try to bring margaritaville into your life, whether it be going on vacation and the physical way and one of ,ur resorts, having a vacation shopping for clothing, a blender for entertaining at home, we like to bring that life

apple says they will appeal the ruling. and in the big apple, covering the story -- what has the reaction been in the u.s.? reporter: there has been a lot of confusion, because first we had reports from the wall street journal that apple already is not selling iphones anymore in beijing, but that obviously was not your, because there are orders, but so far apple can still sell products. they are reacting negatively, losing by more than 2% in the friday session. and a lot is going on between the chinese regulators and apple that is not just for the iphone 6 but also with itunes, and as china is the second most important market, the company knows this is not a good development and this is causing concern. reporter: it is the end of the friday session, so what else has moved markets this week? does the brexit referendum have an effect? reporter: yes, that is also the top on the floor at the new york stock exchange, but it is interesting to see. nobody can tell what will happen next thursday, so there is not a big appetite for

for information apple has. they've already cooperated on that. they're asking apple to develop a software that currently does not exist that will allow the fbi to hack the phone. apple ceo tim cook is against this because he's worried that creating this kind of master key to access a phone's data could lead to dangerous privacy violations. iphone, there is likely health information. there's financial information. there are intimate conversations with your family or your co-workers. there's probably business secrets. and you should have the ability to protect it. if there is a way to get in, then somebody will find a way in. >> seth: once the key is developed, it is a slippery slope that begins with the fbi seeing terrorist text messages and ends with everyone seeing your bathroom selfies. [ laughter ] and not even the bathroom selfie you sent. the practice ones where the light was bad and the toilet seat was up. [ laughter ] the fbi claims they would only use this key for the one case. but once it exists it exi

apple hit with a patent dispute in china. the beijing intellectual property office has found that the iphone 6 and 6 plus are too similar to the chinese baili. apple quickly fired-back. all are gearing out to roll out the next model. r.b.c. joined j.p. morgan for the stock. so how big a deal is this? really. research president bob o'donnell joins us from fran and with me for the hour. bloomberg news executive editor tom giles. first off, bob. thank you for joining us. i never heard of baili. i lived in hong kong for four years right across from shenzhen. tell me about this. bob: well, they're a tiny company. started by a former executive with a technology. but this whole story really makes you wonder about what's going on. you look at those phones as you look on the screen. they don't look the same. there are plenty of other phones that look very, very similar. and oh, by the way, weren't with the 6-s and 6-plus included? there's a lot of questions marks about what's going on. there could be some back door political cronyism

apple is known for its uri. it is known for its ease of use and that is something they need to ring out with the integrations. rishaad: in deed. but this company, do you think it is still overly reliant on the iphone? yes or no? drags the core business of apple is still hardware. it will remain so for the next few years to come. one of the underlying messages on opening up our message is despite the fact it might give run for whatsapp a their money, it is still very much restricted to the iphone and its platform. in this aspect, growth will be limited. you will see more growth in markets where iphone is much example the united states. singapore, new zealand, hong kong, canada, and so on. growth in other markets will be more difficult to come by. india, there are some political issues. there could be a big for them. they could make headway. >> india is in interesting market for apple. the underlying problem is that its devices are simply too expensive. what services can do to bridge a veryp is help build good val

apple will use some chips from intel. vonnie: this deals a blow to qualcomm, one of apple's meager supplies. -- major suppliers. ian king.bring in judd gregg great scoop, ian. ian: what it means for intel more than the size and the numbers is the validation of a program that is really struggling. you can go back 20 years -- they poured millions of dollars into r&d and got nowhere. apple is the best validation you can get. aren't going to turn around -- it is certainly a strong validation, strong mark of approval for a struggling program. david: it seems like the writing on the wall is that the future was going to be in mobile and portable devices per dwight was intel so slow to get into that market share? ian: the have not shown up at all in that business. intel is very good at making chips very quickly. that is not what you need in a small device. you need something that can get by on a small amount of battery power. intel was really slow to get behind that and redesign what it offers the markets. qualcomm became the ind

apple expecting to see a decline in earnings overall. we take apple out, that's 7% decline for tech improved to a decline of 2%. energy, materials, and tech the weakest sectors. >> on that note, john, thank fact set. >>> a fed official today made a significant shift in his outlook for the economy. st. louis fed president james bullard says low economic growth will likely remain in place through 2018. and he forecast just one interest rate hike between now and then. this is a reversal in thinking for bullard who previously said growth would pick up and rates would rise. he now says the long run outcome or outlook for the u.s. economy remains uncertain. >>> we've been reporting on the risk of the uk referendum and what it poses for the market and the economy. in an interview today the head of the international monetary fund said the outcome of the vote is a concern for the entire wo >> it's going to cost, it's going to be negative for income purposes, it is going to be reduced trade, most likely as a result of uncertainty. those are blatan

apple accused of blocking pot if i. josh? >> well, michelle, spotify has now sent a letter to apple's top lawyer saying that the company is harming spotify and its customers. that's according to a new report in recode. according to a report here, spotify says apple is blocking a new version of its app for the iphone. apple apparently demanding that spotify use its billing system on the app store. spotify's lawyer reportedly saying we cannot stand by as apple uses the app store approval process as a weapon to harm competitors. spotify is arguing that apple's real aim to squash competition. remember, spotify saying in march it had 30 million paying subscribers. apple telling us recently they have 15 million for the music service. apple charges a monthly fee of up to 30% for the billing system. spotify passed on the fee to apple customers with 13 bucks instead of 10 and then as recode points out spotify started to offer subscribers a new deal they could get three months of spotify service for 99 crepts signing up via spotify's s

apple now has 15 million paying subscribers. remember, in april apple said it was 13 million. they got to 10 million in six mon months. we know over the past year people have faced criticisms. the questions now is with the changes today, do consumers think the issues have been addressed? we'll soon find out. back to you. >> thank you, josh. they're one of the worst performers on the dow today. >> and microsoft, too, as a matter of fact. 17 minutes left in the trading session. look at this. now we're setting lows for real. the dow down, the s&p below that 2081 level that ben willis identified at the top of the hour where he wants to see it close above and he wants to see it go higher and the nasdaq is down 43 points. >> oil moving lower has been a factor, but cost t days of costing $85 a barrel could still be to come. mike santoli explains how next. >>> that ten-year yield, 1.61% sliding lower. crude oil closing the day lower, too, despite an overall climb higher this year. >>> cnbc's commentator mike santoli sat down with one analyst who says he sees oil climbing much higher.

apple wants to make sure that developers take full advantage of what they have to offer, and the apple wants, and the update meeting that it will open essentially instantaneously, and it will be easier to change the watch faces and see how you are doing when you complete your daily activity. and they started off the keynote on a somber note with a few keywords about orlando, and a moment of silence.>> we offer our deepest sympathy to everyone whose lives were touched by this violence. it was senseless, unconscionable and an act of terrorism and hate.>> reporter: another announcement, os ask -- osx will now be called macx. and developers will hear from 1000 apple engineers, and we will see all of these changes and a lot more development.>> a lot of these changes made today work made with developers in mind, and what will the general public be excited about?>> reporter: the most use app is the messaging, and emoji's can now be three times bigger, and you can even replace the words with emoji's because your text messaging will highlight certain words that correspond with the emoji. and ap

and then it was purchased by apple? >> correct. actually, the technology for siri was originally sri which is-- sru international, a stanford research. and we spun that out in 2008 and we started a company, startup, and worked down and perfected that to the first real consumer product which we then launched in 2010. and about three weeks later, i was going out to lunch and plie business guy came in and said you know scott forstall from apple would like to talk to you. and i said great. and my phone rang and i saw it was from coopertino. if you have an iphone, you know how you have to swipe it, well, it kept bouncing back t wouldn't answer the phone it was like on the seventh swipe. i picked it up and it was a gentleman that said this is steve jobs. and-- . >> rose: what did he say? >> he said in a nutshell we love what you are doing. can you come over to my house tomorrow. love to talk to you about it. >> rose: and what did you do? >> i grabbed my two founders and went and spent three hours with steve in front of his fi