emily: tim cook is the architect of apple supply chain strategy. should you order an apple product now? should you expect to get it now? mark: they will get it. i'm seeing apple watch delivery estimates at the end of december, with some models unavailable. i would keep refreshing to look for in store pickup today or tomorrow to find one. emily: mark gurman thank you for that update. coming up, twilio took a hit, after projecting a loss for the current quarter. we will talk about that with the ceo. this is bloomberg. ♪ this halloween, xfinity rewards is offering up some spooky-good perks. like the chance to win a universal parks & resorts trip to hollywood or orlando to attend halloween horror nights. or xfinity rewards members, get the inside scoop on halloween kills. just say "watch with" into your voice remote for an exclusive live stream with jamie lee curtis. a q&a with me! join for free on the xfinity app. our thanks your rewards. ♪ >> looking back -- welcome back to bloomberg technology. i am in san francisco. a wild week in deed. a lot i

and when i watched his piece, it involved him hugging tim cook as tim cook came offstage. which is not quite how the bbc would've done it. so we are faced with very, very powerful and controlling organisations. well, we just wish you all the best in your retirement. thank you so much for coming on. well, i've enjoyed it. and can i say also, i'm still huge believer in the mission of the bbc. it's a place where we go for facts, truth, impartiality in a world where that's becoming more difficult to find. rory cellan—jones, thank you. thank you. finally — if some people struggle to get to grips with new technology, the latest inflation figures also provided problems for wednesday's lunchtime news. the cost of living dipped slightly in september, despite rising prices for fuel and transport. the office for national statistics as inflation is measured by the consumer prices index, dipped to 3.1% last month. well, those of you with a grasp of numbers will have noticed that if inflation was 3.1% last month, then that means that prices have actually risen by that amount, not di

you just have to think about tim cook andy jassy will have his moment. i think investors would love to see this >> every step of the way from when a product is manufactured to when a product gets on the shelf, being one that can deliver product to your door in time for the holiday season, that could really help that business as opposed to some others which might face more problems because they haven't invested the same in their logistics. >> and they can't. they can't afford to invest the same amazon can afford to spend anything i agree with just about every single word dan said including the most important thing from the release. i think that is the most important thing. he is not worried about this quarter. i think the guide was a little light on the top line, but they have done that before. the range is a $10 billion which for them is not a lot of money, but for others it would be i am not overly concerned. spend, spend, spend. but we have to think are they good stewards of capital i think clearly they are i am inclined to give them the benefit of the

plus, tim cook said they are getting the leading edge components that they need. they are not getting legacy, and there has been less of an investment in legacy. that seems to be the problem there. what was the beginning half of the question? david: oh, i was wondering what part of -- you know, when we talk about shortages, it seems like everyone is throwing everything in one basket. we are talking about apple, for example. i'm wondering, is that really a shortage or just because demand is so robust? >> for some companies, it is definitely a bit of oath. if you look at amg's numbers, another beat. very strong. qualcomm has done the same. i'm numbers have an massively higher than what they started the year at, sometimes by billions of dollars, but even with that said, this is in my analyst opinion something good for semiconductors in that it is elongating the up cycle instead of the typical very strong up cycle and then a down cycle, so i think -- i had this in my preview note and many of my other reports -- we are seeing less highs, but i think that will then make

>> i just got off the phone with tim cook on earnings. despite a report september, the world's biggest company is not immune to the supply chain crisis and the chip shortage. tim cook saying in reference to that strong performance in that quarter, it was despite larger than expected supply constraints which we estimate to be around $6 billion, restraint of chip shortages and covid disrupted manufacturing in southeast asia. we got rare guidance from apple, something that they have not been doing during the covid era. tim cook says the december quarter will be an all-time high. bring up the quote for you. best quarter ever, but here's the big but. we expect supply constraints to be greater than the september quarter. there's longer wait times for the iphone 13 and that's part of the constraint that we've been talking about. when i asked him about the outlook for the u.s. economy, this is very telling. tim cook says that i don't know right now is a real answer to that. i want to be optimistic but it's a little unclear to me where it's going.

charles: so, adam, you know, it's this part about tim cook flexing his muffle, making him something of a kingmaker among this whole digital gateway, what can the company do? do you think some of the things sylvia suggested could offset what apple's doing, this data hoarding? >> hasn't worked so far. and i'll tell you i think first party data is going to come out being star of this. wall hart, bed bath and -- walmart, bed bath and beyond, they have the cash register slips. they know what you actually bought as first party data. the secondary and tertiary data doesn't seem to resonate anymore, and where it's showing up is through the conversion into sale. you can get to people, but if you can't track it to a sale, the advertisers are going to move on. they're not dumb. charles: where are they going to move to? >> initially, i believe, google. because google's still tracking with android phones, but come next spring, they're going to do the same thing tim cook just did, then you're going to have a fist tight. that's the right term, i believe. charles: nvidia, i guess it only had to go up

cook who says it will be worse in q4 than it was in q3? >> well, first of all, when you start talking about automobiles, that has a different purchasing seasonality. you don't buy that into the weekend of thanksgiving and that holiday push and not a lot of people buy cars for christmas. for wearables and iphones and tablets, it's pretty common to see that following thanksgiving. a big push as well as into christmas. different seiasonality there. this is important and little technical, but for your viewers to note that apple typically does use more leading and technology when you start getting to nanometers that are really small and super fast chips and cars are more legacy. so, the car situation has been seeing supply shortages for much longer than apple has. and so it's kind of catching up to apple a little bit about timing, but more importantly the seasonality about consumer electronics versus automobiles that's how you bridge that gap >> hey, jim, it's deidre there was a really interesting question on the earnings call last night someon

tim cook saying supply chains are expected to worsen this quarter. coming up in the next hour of "daybreak asia, the outlook for chinese banks. we hear from the head of china research, plus mizuho bank seeing a bond selloff coming to india and korea. the head of economics and strategy joins us very shortly. the market open in seoul, sydney, and tokyo. ♪ (announcer) looking for a better way to lose weight and feel good? how about the one with a 98% success rate and a more affordable weight-loss solution? that's golo. there are no monthly fees and it's guaranteed to work or you don't pay. no stimulants, no starving, just results, results you'll keep for life. with over 2 million satisfied customers, golo is the new way to lose weight. go to golo.com and get your life back... -with golo. -golo! >> welcome to "daybreak asia." asia's major markets have just opened for trade. >> our top stories this hour, aipac investors wager rations in the bond market and the drop in equity futures after amazon and apple disappoint on revenue. evergrande staves off def

tim cook attributing a $6 billion loss to supply chain issues. mike, your reaction to what we saw from big tech? >> so big selloff, maria, good morning. you have apple and amazon trading down between 3 and 5% this morning. but let's take a step back for a second. the s&p 500 is up over 6 and-a-half percent month to date. not year, month to date. so we've had a huge run-up. these companies have all been moving higher on what was expected to be strong earnings. the good news, maria, is that he demand is there and both of these companies are on operating well. we do have these call them one-offs, call them the issues that all the other industries and companies are facing and that's the supply chain issues. i think if we had a different administration, a pro-business administration, we wouldn't be talking about this. if you're going to bet on anyone to fix this problem, maria, you can bet on the biden administration or you could put your money on tim cook at apple and jeff bezos at amazon. i think these companies are going to figure out this problem

it was just, i guess, that warning about the supply chain, whatever tim cook said, $6 billion hit that could craft potential problems for the holiday season and maybe the entire fourth quarter. the fact that they were both sort of hit by the same brush, i just wonder how you think this plays out. i got the impression that it's a short reaction regardless. >> oh, i think so because eventually, we think, the supply chain issue will be ironedded out. and with apple it was not anything to do with demand, it had to do with the ability to fulfill orders. and, yeah, the holiday season is the most important art of the equation. but the markets look past it after everything gets going, and there's going to be a big pipeline of people going in there. as far as amazon, i actually think some of the same things. the reason why amazon hasn't done much in 15-18 month, there's been a discount this anything that's benefited the most during the pandemic. you've seen peloton crushed, zoom crushed. they had their big, gigantic driver during the pandemic. as we come out of it, they lose that driver, and i

one decade later, tim cook shares this message on twitter. it's a quote from jobs. the longtime design collaborator also shared these words in the wall street journal. i miss is singular and beautiful clarity. beyond his ideas and vision, i miss his insight that brought order to chaos. kumasi: hollywood is facing a possible work channel -- shut down. the union represents 60,000 behind the scenes workers and producers that represent the studios. union members have voted to authorize a strike. the union says the pandemic has created harmful work hours. it is seeking pay increases for the lowest paid members and protections around meal breaks and weekends. >> we need not just actual meal break during the day to eat and drink water, use the bathroom, take a break. kumasi: 98% voted for the strike. it's unclear when they might be walking off the job. if they do, production will stop. reggie: it is a countdown to disney night on dancing with the stars. that is the theme for next week. last night, it was britney spears music in the ballroom. reggie: christine chu is out. w

apple cnn tim cook told me things might get worse before they get better. is he right? let me go to the sources the sources are in this case onsemi and nxp they do a lot of auto semis. they have exposure in some of the biggest bottlenecks. we get results from fang, diamond energy yeah, diamondback. i have never recommended diamond diagnosis back until recently. people criticized me of recommending them not long ago diamondback is the fastest growing oil company in america but they have gotten a lot more disciplined. i have been telling you select oils would be great. crude in the 80s chevron had a gorgeous quarter with a dividend boost. it remains a buy diamondback, well, that's a lot more volatile, which is a good thing if i'm right and they give you a monster set of numbers the other end of the spectrum, there's clorox, which is rapidly rising they might not be able to pass onto you the consumer the price increases. they sure couldn't last quarter. i hope for the best but am prepared for the worst tuesday we hear from dupont and estee lauder you should be signing up a

but i don't know, if anybody can manage it, it's apple and tim cook and their supply chain. but it is, it is very different than any year i can remember >> john, i wonder what you make of some of the arguments from the street today that is, all right, for consumer who wanted it in time for the holiday, that might be troublesome. but in the medium term, the demand doesn't necessarily go away in the words of morgan stanley. not perishable and any supply shortage shouldn't impact valuation. is that fair >> i think that's definitely fair maybe the watch in particular might be a little bit more holiday gift sensitive, but for phones, people who need a phone, they need to wait, they will wait and if they get it in january instead of december, they're going to do it so, i wouldn't be, i'm not as concerned long term, you know, for the phone. the watch, it's a little bit trickier especially because they don't sell so many varieties really right now with the new lineup only sell the new series 7 watch, the apple watch se and the series 3 watch so, if you want a new one, you're really

emily: tim cook on the call saying that -- despite supply constraints. does that mean you are not worried about supply constraints? they could cut production by as much as 10 million units? julie: there is certainly some risk. the semiconductors are a risk, supply chain is a risk, the costs of labor in stores or the delivery, it is certainly a risk. we are talking about a company here that might be missing expectations, they may not sell as much as quickly, but it is still a strong company that continues to perform amazingly well, with or without a pandemic. we are still at home working. we are still at home with education, still at home streaming media, and apple is selling goods and services in other places that consumers are buying today. emily: meanwhile, sales in china almost doubled. what do you make of that? julie: i am not an expert on the chinese market. i do think apple does a better job as one company selling devices, services, whether it is media or entertainment, they do a better job of bringing consumers in the ecosystem and keeping them th

so it leads me to the conclusion that i'm willing to say there's no problem with 2023, but tim cook said it could worsen and then he used the word pership was that was the first time did if you wanted to give for christmas, for holidays something apple, it may not be there, so then you may substitute you have to hope those people then come back i am not going to call it a back quarter there's some analysts who don't line -- >> we're going to talk to him later this morning. >> he has every right to say what he wants but i do know he said there's issues of demand. i have to just point-blank i don't see those issues it was one of those conversation s, that i know was, like, i wanted to hear that there was a way to get these chips but it's the same problem everybody else hat. >> you thought they were going to, because they had. >> the chip companies just can't keep up. now the ppg, earlier this week here's what happens. listen, we have all 420, except for one that's what's happening. >> kind of like when the car -- to jim's joint -- take a listen. >> for this quarter we think the primary cau

this is tim cook's strategy of being aggressive on vertical integration and slowly taking more and more control over the supply chain yes, these are outsourced to taiwan semi conductor manufacturing company, but highly exclusive deal and leverage over their suppliers and this is where i think investors really need to look at which companies have shown this ability to vertically integrate their supply chains because in an era of supply chain disruption, it's those companies that are going and the ones whether it's their manufacturing, operations, logistics and the relationships with their customers they're going to definitely fair better than the companies that have outsourced everything >> i was going to say, what kinds of names would you actually worry about companies that have, who have outsourced to a degree where they said, look, this is super efficient and we don't have to worry about this stuff and now it might be coming back to bite them >> i think it's not necessarily a category or sector issue but let's look at two different companies within the same sector if you take carmaker

. >> let's get back to josh lipton who got off the phone with apple's tim cook what did he say? >> first and foremost he talked about the supply chain challenges that his company is dealing with right now cook told me they had a better performance which we estimate to be around $6 billion driven by the industry-wide chip shortages and covid-related manufacturing disruptions in southeast asia. cook told me that has improved greatly, but on the chip shortages, i asked him when he thought it could ease. he told me the chip shortages linger on. it's unclear how long it will last it's complex you have to know how the economy is going go in 2022. you have to know everybody else's demand. we're all competing for chips. as i mentioned, apple did not offer formal guidance, so i asked him for some commentary on it cook telling me we expect solid year over year revenue growth and we expect it to be greater than the september quarter greater than the $6 billion. despite that, we're projecting very solid year over year revenue growth to an all-time record quarter back to you all. >> josh, th

apple ceo tim cook is partnered with retired nba all star dwayne wade to help provide homes for lgbtq youth could tweeted this photo today with some of the young people involved in the group and circle. cook and wade, along with others helped raise $8 million for encircle, which will go toward building homes in arizona, idaho, nevada and utah. i'm just angry. i'm more angry than anything and i'm determined to get these people caught. coming up on ktvu news at 6 30, a heartbroken mother makes an appeal for information after her teenage daughter is shot and killed in an apparent road rage shooting. also still ahead. raiders owner mark davis has little to say about jon gruden, but its general manager does that story later in sports, and if you receive a social security check, you're about to see more money coming up. details on the biggest cost of living adjustment for social security recipients in almost 40 years. ♪ i see trees of green ♪ ♪ red roses too ♪ ♪ i see them bloom for me and you ♪ (music) ♪ so i think to myself ♪ ♪ oh what a wonderful world ♪ emergency pla

tim cook showed off new items during an online event today. new 14 and 16 inch mac book pros among the headliners. smaller laptop starts at $2,000, bigger screen at 2500. the revamped mac books have the m 1 chips in them that are faster than laptops with intel chips. >>> covid-19 cases are dropping, but not in every community across the country. a new docu series explores why some tounls are struggling to contain the virus and battle against covid-19 misinformation. >> live your life. whatever is going to happen is going to happen. >> i didn't know there was a last time i was going to see my dad, you know. >> he's unresponsive, intubated. she's pleading with him to fight. i can't say anything. that's sad. >> our priests were worn out with all of the funerals. >> people believing they're the main character in their story, that they're infallible, nothing can happen to them. why would anything happen to the main character? >> that was just a portion of the four part docu-series dying to be wrong, the price of misinformation. watch the first epis

ceo tim cook says supply chain crunch is costing the company $6 billion. first, it was the facebook and now it's meta. facebook is rebranding as it looks to identify with more than just the social media website and possibly detach itself from recent reports about role spreading misinformation. the new corporate name comes with a new logo, infinity sign replaces the thumbs up. a ford engineer putting skills to work on a halloween costume. he made a seven and a half foot kids version of cruella deville's phantom car. the girl has a medical condition that leaves her unable to walk. in past years -- that's your cbs money watch report. for more head to cbs moneywatch.com. i am elise preston. >>> time for a quick check on our weather and traffic. >> tgif. we made it to the weekend. >>> it's going to be beautiful today, 60s and 70s with a few clouds streaming in but a nice end to our work week. you can see the temperatures out there. we are in the 50s as we kick off our friday, 54 concord, oakland 58, 52 livermore, 59 san francisco, 57 san jose, santa rosa 52. we

tim cook showed off the new items. new 14 and 16-inch mac book pros are among the headliners. the smaller laptop starts at $2,000 while the bigger one starts at $2,500. they have apple's own m-1 chips inside which are faster than laptops that use the traditional intel chips. >> the response has been off the charts. m-1 has propelled mac growth, outpacing the industry with the mac having its best year ever. and today i'm thrilled that we're bringing apple silicon to even more symptoms. >> you see them there. all of the new airpods have features that used to be exclusive to the more expensive pro model. the new airpods start at $179. >>> the rover sending back pictures of mars. nasa is also focusing on jupiter. they launched their newest asteroid probe named lucy. she'll travel 4 billion miles to study two clusters of asteroids. they'll travel with jupiter around the sun and could give us vital information about the birth of our planet. lucy's first asteroid fly-by will be in 2024, so we'll have to wait a few years so be patient. >>> up next here at 6:00, a warning for stanford

cook, nba legend dwyane wade they helped announce a non-profit encircle surpass its fundraising goal of 8 million. it will go to funding eight new homes that provide services for lbgtq youth in the west. they will be located in idaho, nevada andmpgn in february and l those do nations from apple as > still torly today" we're in holiday mode, black friday deals, shoppers can score as early as next week. >> all right if you are looking to get into the halloween spirit this weekend. mike only meyers is back mike only meyers is back >> good morning! maria! getting that fiber in. nice! ah, the miller's. rising and shining! that's a bright idea. with high fiber and plump juicy raisins kellogg's raisin bran gives any day a sunny start. think wearing less makeup means no need for a wipe? think again. neutrogena® makeup remover wipes remove the 30%f makeup ordinary cleansers can leave behind. your skin will thank you. neutrogena®. for people with skin. feeling sluggish or weighed down? it could be a sign that your digestive system isn't working at it's best taking metamucil everyday can help

cook where every one's going into this new world whether saying first of all, it was lot easier to send people home than to bring them back to work there's a premium on getting it right. what we're seeing is organizations mess up in a couple different ways to start there is they're trying to guess where people are at in the journey on wanting to come back. where they are in their vaccine decision making and reality is that guess work doesn't need to exist. you can measure, gauge the experience and understand as a leader, a leadership teams how to bring people back based on the information you have and predict what's going to happen when you do that getting people back into the building or developing work, whatever that is is just the first step most of the time in product and innovation people get it wrong it's really important that we're measuring and we're understanding the impact of the decisions we make of pulling people back into this new future because there's not a company that's been through this before so the data doesn't exist. i've always said if the data exists, you google i

tim cook referenced it was a shortage of semiconductors that led to a $6 billion miss on revenue. total revenue for apple coming in at $83 billion, below expectations. in terms of products, wearables, below expectations. services at record revenue, trying to gain more revenue from subscription services. iphone shipments reached 50 million, which means apple is the world's second largest smartphone maker, but when the markets open later today, apple could lose its crown as the world's most valuable company to microsoft because of these concerns. we take a look at what we saw from amazon, similarly supply chain concerns, net sales coming below expectations of $110 billion. this shows comparisons between the estimates and how the results came in quarter on quarter. one upside was amazon web services from which it derives most of its profits, coming in at 39%. it was wages, labor shortages, and making an impact on amazon. anna: the cost of wages, warehousing and the logistics that go with that. let's stick with technology, facebook, this immersive technology to come, the meta-verse --

tim cook talking about how the supply chain crunch is impacting business. >> for this quarter, we think the primary cause of supply chain related shortages will be the chip shortage. it will affect, it is affecting pretty much most of our products currently. ♪ emily: let's get back to facebook's name change to meta. ed ludlow with the new sign right over his shoulder. what has been the reaction? ed: it took seconds for them to reveal the new logo after mark zuckerberg made the announcement. hundreds of employees have come out to take selfies. we know they have been ramping up investment. they made this big announcement this week that they will ramp up capex to up to $34 billion next year. they are putting their money where their mouth is. what's interesting is the reaction on social media. some people believe it's not real. zuckerberg was candid about how distant this is from being a mainstream thing. at the end of the decade, it could touch a billion people what we are only talking hundreds of millions of dollars of transactions in the metaverse. emily: $10 billion investment. how is

tim cook announcing the long-awaited redesign of the mac pro with its in-house chip. we are also going to talk about covid booster shots. the ceo from the johns hopkins center for health security is going to talk about the tragic breakthrough case that killed colin powell. amanda: spotify reacting on an intraday basis the word that apple is doubling down in the music space. overall a positive session and you are seeing the tech heavy consumer discretionary and tech. we are seeing oil trading at multiyear highs today. a very high level. good for those looking at oil prices coming up. bad for all the businesses for whom that is an input cost. there is your 10-year just below that level where we seem to have settled in post that roadmap from the federal reserve on tapering. bitcoin is gaining today. you might expect that on a day when there's a fair amount of news in the bitcoin space. this comes as asset manager proshares is poised to launch the first bitcoin futures etf. it will invest primarily in coin futures contracts, not primarily in bitcoin. that is because for a

tim cook is saying we don't want to do this anymore we don't want to be a vehicle -- he actually is -- customer goes first. we all feel when we talk and it hears what we're saying and it produces that, we're done with it we don't want that >> anybody who has an apple phone is probably had a click allow or not any number of times for the websites that -- >> he's offering -- >> they need that information to enhance their advertising and know what's going on. >> it's apple versus facebook. >> yeah. >> right >> listen, probably not great for pinterest. there are -- >> collateral damage. >> yes. >> when two elephants fight, you don't want to be the grass it gets pounded. >> i like that i think tim cook has the upper hand because we love our phones and i believe that phone sales are going to be very, very strong there's -- i just wish that -- we have netflix doing great and we have -- by the way, i think amazon is going to do very, very well i think apple is doing much better than expected. >> alphabet also may do well and, in fact, may be a beneficiary of -- the search may be a beneficiary

back to you all. >> we have to get you doing an apple out in that field that tim cook's in some point. >> i'll put in a call and see what i can make it work. >> great backdrop for that thank you so much. for that information let's discuss and bring in an analyst from evercore isi. how significant is this? are there big surprises? >> i think from the product base is kind of what folks expected for the moe part the things that surprised me is the price increases. you saw across the board new airpods at $179. that's 13% more than the one out there now. the books are 5% more than the exp expensive before and this is notable. should provide a nice revenue growth over time secondly, what's aggressive is the processors massive advantage compared to what the traditional processor cpu is doing this is the high end today but in two, three, four years i think it could lay the ground work to drive a healthy amount of share gain. >> do those processors apparent from more power help them on the margins? because thankey're internal dri? >> absolutely right. in the past buying this processor from int

. >> absolutely, unless apple backs down, but i don't expect that tim cook takes privacy so seriously. that's a headwind for the entire group for sure >> jared, always great to get your perspective karen, how do you think of this reset as jared put it. >> one thing he talked about, which i think others have as well, is the ability of facebook and google to navigate this maybe better than snap and some others that will be interesting to see. however, i'm optimistic they will be able to do it. i don't know,even if they are able to do it, if it still hangs over the stocks and puts a ceiling on them. it is not making me a seller of alphabet or facebook i saw it down 3 or so percent. i am not a seller. i think they will navigate better than most >> we were talking about some of the biggest names getting whacked in the after hour session and the impact tomorrow has to be a negative one on the broader markets. guy? >> when you can see stocks of this magnitude, facebook, when you see 2, 3, 4% move, it makes you wonder if it happens to individual names, what could happen to the broader market

with apple, on the earnings call, tim cook saying it was the reason for a $6 billion head on revenue. total revenue coming in at $83 billion, below the street expectation. products including iphones, wearables, and mac underperformed. services revenue came in at a record for apple. apple is trying to pivot away from a products only-based model. services currently account for 22% of total revenue. in terms of iphone shipments, that was at 50 million. apple is the world's second-largest smartphone maker. no supply chain bottlenecks for amazon. it was a labor shortage, higher freight costs, meant net sales underperformed. one darling for amazon is amazon web services, the cloud product year on year revenue for aws was up 39%. for facebook, meta, virtual-reality, facebook will officially be called meta -platform. it is about the tradition -- transition to virtual-reality. we learned that virtual-reality labs will be reported separately from the traditional family of applications. the oculus gaming headset, the smart glasses collaboration with ray-ban. i'm sure one of those products might

tim cook did not provide any sort of engine site for some of the supply chain challenges that have been bothering not only apple but others in the sector and amazon equally pointed to seeing real challenges in q4 but didn't point to improvements in 2022 or going forward. so i'm cautious on this. when i think about investing in apple and amazon i'm looking on the services side than i am in the asset intense areas so i think ultimately their business models are interesting in return. >> in amazon how concerned are you about margin compression long term and maybe what it says about margin compression across industry. >> i think amazon is a little unique here. we looked at google, and microsoft, we saw them delivering margin expansion. microsoft at 46% google delivered 1500 bases points of operating leverage since 2020 it depends what business you're in, obviously amazon feels it differently because they are more subject to the shipping and trucking costs and the increasing pressures there more subject, obviously, to inventories, concerns and labor prices rising as well. so amazon is going

since 2016 revenue coming up shy, the first time that's missed expectations since 2016 apple's ceo tim cook citing supply chain disruptions and chip shortages amazon, third quarter earnings and revenue both fell short of forecast and the company's guidance on fourth quarter sales is below street estimates. they expect to incur billions of dollars in extra costs due to labor shortages, supply chain issues and rising shipping costs. let's get more from joel thanks for joining us. let's start with apple the good news is perhaps it's not a demand problem with apple. many of us are still clamoring after those apple devices and services, it's really a supply issue. >> exactly and obviously any time you see a $6 billion hole coming out of any print your eyes are popping out of your head a little bit but that is a reality right now with apple we've been here before and at the end of the day, if there's any company on planet earth that can get through these supply chain bottlenecks, headwinds, bottlenecks whatever you want to call them, it is apple margins held up well dealing with a company li

tim cook shared this message on twitter today, with a quote from jobs. people with passion can change the world for the better. he ends the tweet saying, hard to believe it has been 10 years. celebrating you today and always. jobs' friend and collaborator johnny -- jonny ive said, perhaps it is a comment on the daily roar of opinion in the ugly rush to judge, but above all else i miss his singular and beautiful clarity, beyond his ideas and vision, i miss his insight that brought order to chaos. how one man was able to bring so much change to the world. dan: he changed everything in many profound ways. he could be a difficult diffi personality from what we gather, but he was driven. he was a visionary, and he changed how we use technology and interact with the world in ways that are incalculable, really. kristen: the way we live, really. dan: cooler weather today and the trend will continue over the next few days. how fast temperatures are dropping. spencer has his update in a mome - i'm norm. - i'm szasz. [norm] and we live in columbia, missouri. we do

ceo tim cook says supply chain crunch is costing the company $6 billion. >> thanks so much. >>> limited work on a fix for san francisco's millennium tower has restarted but a structural engineer is casting doubt on whether the whole project is safe. in 2017, concerned unit owners hired david williams as consultant after learning the building sunk more than a foot and was leaning to the northwest. he said the floor of the basement exposed what appeared to be a serious problem. it was dipping in the middle, something referred to as dishing. >> dishing of the floor which is the dishing of the mat, ten foot thick mat, was significant, clearly it had been distressed when they start jacking. then they're doing a load redistribution and are really dependent on the integrity of the existing structure. >> williams says current perimeter pile upgrade may run into trouble when new piles anchored to bedroom rowling connected to the building's weakened foundation. he hopes foundation issues will be discussed when supervisors hold hearings ortiz project next week. we have been digging into problems a

it's important not to forget that's where tim cook's dna was, he came from that role to become ceo. i think that apple is better placed than most it has the scale customers want to serve them so they get prioritized over rivals. but it is biting and we've seen speculation that there's been challenges with the supply for the iphone 13, also the apple watch series 7 in particular seems to be very constrained. but i would say apple is in better shape than some rives. >> i have to say i can't stop looking at that massive cell phone in the back of your shop what is that made out of >> that model there you can see on the screen is a -- it was a model that was used in retail to promote the old motorolla phone in the 1990s it's part of the mobile phone museum or mobilephonemuseum.com. it's a charity looking to safeguard old mobile phones and education. it makes a fabulous backdrop, though >> it does ben, thank you for taking time to speak with us this morning. >>> let's check on wall street how u.s. futures are shaping up, red across the board dow jones set to open 80 points level as invest

you hear that that many management a lot tim cook, steve jobs and michael dell's secret weapon, susan. >> i think of him and bill gates. we're so associated with their companies and to watch them both grow over the years. they've been around in the spotlight a long time. he seems so much more relaxed and aimable today, not that he wasn't aimable, but less tense i mean, it's all good. and same with gates. he's a much more comfortable dude today than he was 20 years ago. >> well, this book play nice is a victory lap. because michael dell has been under the microscope for a long time even before icahn came in. the pc business wasn't doing well and a lot of people thought this just in time, manufacturing process, dell was a one trick pony turns out dell had a lot more tricks and they made this transition to cloud. oh my goodness, when we talk about turn arounds, we talk about apple. microsoft wasn't really that doubted. it was just a question of whether it could really shine again. dell was in the dumps and under activist pressure and he not only managed to get it out, but to get emc and

. >>> and later big promises from tim cook and company as it revamps the premium macbook pro but can it overcome supply chains and deliver a busy hour stl eawh orwide exchange" returns so, salesforce customer 360 unites your marketing, sales, commerce, service, and it teams around her. so they can deliver a great experience from anywhere. ♪ (whistle) ♪ it's another day. so they can deliver a great and anything could happen. it could be the day you welcome 1,200 guests and all their devices. or it could be the day there's a cyberthreat. only comcast business' secure network solutions give you the power of sd-wan and advanced security integrated on our activecore platform so you can control your network from anywhere, anytime. it's network management redefined. every day in business is a big day. we'll keep you ready for what's next. comcast business powering possibilities. it's moving day. and while her friends are doing the heavy lifting, jess is busy moving her xfinity internet and tv services. it only takes about a minute. wait, a minute? but what have you been doing for the la

tim cook said it is helping to fuel the mac growth. two sizes for the new machines unveiled a 16 inch version for 2499, and a 16 inch version for 1999 order today, available next week apple says users are going to feel the different they claimed amazing battery life, updated the displace the machines are quieter better cameras and mics. we know the mac has been a winner for apple people need those machines as they work from home during the pandemic the question is can apple keep the momentum going on the course ahead. also announcing new third generation airpods with new design, wireless charging for $179 entry level airpods now cost 129. airpods part of the faster growing wearables division along with the watch >> so they must be confident that their supply chain is going to hold up and they are going to be able to deliver in a timely way all the machines that they expect customers are going the demand as we head into christmas? >> i think they must feel like they have to have an event like this because they have to keep showing off t

cook takes the stage. >> i just bought a new macbook pro. they better not have an upgrade already, josh lipton thank you. back to our conversation, apple shares trading a touch lower again, most at risk headed into earnings and i don't want you to say mark bahamian is with amazon, however, he says as it relates to amazon's earnings and steph, i'm going to go to you on this, he says the street's revenue growth assumptions are aggressive and the operating income assumptions are, quote, very aggressive and given the margin headwinds and wage increases and innotventory tradeoff you are one of the few people i know who has come on and said i'm underweight amazon and it's a source of funds for you. so how do you bridge all of this, okay it's most at risk, but it's still one of my best picks, he says >> you can have a long-term view and a short-term view. the long-term view is compelling with retail e-commerce growing to 7 trillion and total addressable market by 2026 and cloud on fire, only 15% of the workloads are in the clouds. so there's certai

ceo tim cook says supply chain crunch is costing the company $6 billion. you can soon be ordering your favorite mcdonald's meal from a robot. the fast food giant is working with ibm to develop artificial intelligence for drive thrus. this announcement comes after mcdonalds began testing the technology earlier this year. a study shows workers ditching jobs that can't be done remotely. job searches in childcare, food service, home health have dropped nearly 8% in the last few months. on the flip side, searches for higher paying remote jobs in i.t. and help desk roles have surged. this comes as weekly unemployment filings dip to a new pandemic low last week. >> i can see a lot of people got a taste of that working from home during the pandemic and don't want to let those benefits go. >> yeah. >>> we are hearing that a ford engineer is putting skills to work on a halloween costume, a very special one. what's up with that? >>> i absolutely love this story. he made a 7.5-foot kids version of cruella deville's phantom car for the 6-year-old. she has a medical con

cook is calling for companies like his to not be lumped in with those types of firms speaking in utah, cook weighed in on the growing calls for big -- for regulating big tech stressing a one size fits all approach won't work. >> the industry isn't monolithic there are very different segments and very different markets. you know, we're not in the social media business. as an example. and so i think you have to kind of take each one and make sure whatever regulation comes addresses whatever issue that you think exists and not write regulation that is so sweeping that it not only gets the target, but gets everybody else at the same time. >> and the senate's top democrat in charge of bank oversight is calling on fed chairman jay powell to halt any financial deregulation senator sherrod brown calling on powell to stop any rollbacks until president biden nominates new members to the central bank. it comes as fed vice chair for super vision time as a top bank regulator ends wednesday while powell's term ends next year brian? >> silvana, thank you very much. >> sure thing, brian. >>> it is a

cook and team he has built. so i don't believe that there will be an issue for shortages in apple products. i believe this will ablowout quarter for apple led by strong iphone sales. however i get worried in the long term as we get competition from companies like facebook. liz: well, sure and there is a lot of facebook metaverse news today. daniel, we're looking at the app store may be in focus. granded they were pretty much unscathed by the judge's ruling last month, but some of the apps, the epic games battle, some of the apps the developers will not have to worry about looking elsewhere for revenue, going outside of the apple system but you tell me what you think will happen here, whether you buy in the last two minutes what we have before the closing bell rings? >> liz, i think the app store remains healthy. i think the overall services business is continuing to expand and it is creating a lot of value for its users, ultimately key to driving growth for apple in the longer term. more and more of innovation c

tim cook told us as much last night, but if you're bullish the stock and you saw the stock moving towards its high and you personally still have a view that it's going to be around 160 or so or north of that by the end of the year you just got a 4% gift to buy the stock why didn't you jump on that? okay when you talk about me, specifically, remember that in february and march i was loading up on a trading batch of shares in the low 120s. that's up about 20% and my chech thesis on that is i'll be out of that by the end of the year above 160 and you will reach a new high and come back to that in a second. if you don't already have that trading share lot on your core position, today is the day to buy it as for me, i already have it, scott. the stock is up 5%, 6% from the all-time high. >> forgive me for interrupting you. i want you to explain to viewers what you're talking about and you're talking about a trading lot and an investment lot. i mean -- give me more specifics on that, please. >> yeah. this is -- so we can make money on all of them. >> jimmy cramer has the same thought on this. >

i think they lose that argument with tim cook now. i didn't want them tracking me before i certainly don't want them tracking me or my kids now and i feel fine about that >> yeah, i hear you. i agree completely look, on some level i do think that there is something almost superstitious about some of our fears with regard to how these companies are using our data, right. not so much concrete harms as we're just worried about what might happen or how it might affect us in ways that we don't totally understand apple has a much clearer value opposition, pay money for a phone and buy services from me and we'll keep way less data about you. >> casey, i know you have written about this episode being slightly different in that it is being originated by former insiders how significant that is and also the oversight board, at what point does that lose its usefulness for the company to say they are really monitoring themselves >> so, start with the oversight board. there was this sort of honestly funny moment in one of the first wall street jour

the ceo tim cook warns it could be even worse during the holidays. now you're taking a live look at the new york stock exchange as trading is underway this morning. we are up about 32 points. julian: for the first time in 20 years, bart is bringing back bathroom access at underground stations as part of a larger effort to get riders back on trains. the plan is to reopen the underground restrooms in stages over five years. they will look much like the ones at the del norte station. the first two are set to open in february next year and are already in the process of being remodeled at oakland the passionist 19th street station and powell street in san francisco. >> i cannot hide my excitement about this. it has taken years and years to get to this point. >> this will not be visit to see our restrooms, but we are doing the right thing. julian: these restrooms have been closed for 20 years after the 9/11 terror attacks. as shown in the bart photos, the sinks will be outside the main bathroom and to enhance security and cleanliness for the first three mo

tim cook emphasized that apple is focusing on music and mac, and it was very well choreograph ed he came to us from the middle of a field and told us all about these new things but let's get into it. that revamped mac book pro that you mentioned is what has consumers buzzing the most on social media. so let's start there. we've got a 14-inch and a 16.2- inch display that this comes in, it's ranging from $1,099 to $2,499 so a bit pricey as you said but that new 14-inch mac book promises serious power with the announcement of those two new chips so the m 1 pro and the m 1 mac. the m 1 pro offers a major speed boost over their previous m 1, a lot of folks were saying they were dissing their own chips but of course this new one is supposed to be exciting and it's especially in terms of that graphics performance. it's going to deliver long battery life. other highlights on that include the mini led display, mag safe charging and hdmi and sd card ports which everyone is really excited about bringing back those ports. also has a 80 pixel camera so let's move on to the air pods though. they also

. >> reporter: kelly, the event is just getting under way, the ceo tim cook addressing the audience virtually there. what will be the big highlight of the show? reports suggest the company will introduce new high-end macbook pros running on apple's own chips instead of intel's processors the new models apparently include a new design, charger and displays in 14 inch and 16-inch sizes. the mac has been a winner for apple. more people look to the machines as they learned and worked from home during the pandemic the question is whether apple can keep the momentum going in quarters ahead reports indicate apple has been hard at work on the next generation of the lower end air pods, too, so we're waiting to see if they make an official debut as well. kelly, back to you >> josh, we will see you again soon hopefully our josh lipton. >>> the next guest says apple and other faang names is leading to transition in leadership in tech and other sectors, especially with bond yields doing what they are today. should investors resist the temptation let's welcome in the chief investment officer at the bonson

i had tim cook on talking about all things, including the app store. that's the big issue there. i think probably not a enough scrutiny is on youtube. mark gets a lot of scrutiny and this is the biggest and why people are paying attention to it and it's the most impactful but i think youtube and stuff going on there should probably be looked at in a stronger way, in conjunction with facebook, because they're very similar sets of issues. i think obviously you have to look at amazon and marketplace issues. overall you have to look at the data issues and privacy issues. we don't have a privacy bill in this country that's national. we have them in certain states. there are all kinds of things, transparency. there was just a story yesterday in "the post" about how much facebook knew about anti-vax stuff, that kind of stuff. >> a lot of it is quite scary. are you dressling up for halloween, kara, maybe be mark zuckerberg? >> no, i don't. i dress up as a broadcaster. >> scarier at your mic. thank you very much for coming on. >>> next, we go back to my home state of maryland. they're loo

she is talking to apple at the same time, tim cooks of the world, hey, what do you think about the legislation we're punting around as far as regulating the industry? there is a clear conflict of interest here. you don't hear the mainstream media talking about it very much, well it is nancy pelosi. she is protected. elizabeth: important point you make. there is like a turnstile, right, between the lobbyists and the congressional offices and then the dog whistles. yeah you can adhere to the stock act, about transparency. make all the ethical disclosures. you're giving a head fake, nod of the head on legislation coming as antitrust has been for the big tech and nancy pelosi's district covers these powerful tech titans, that is the question. pelosi's husband got caught, not caught, making stock trades with call options on google stock. a democrat said everybody should put their money and their spouse's money in a blind trust. only 15 sponsors for that. nobody wants it. you make a good point about athletes and congress. you make a good point. nobody will go along with it in congress. >> particular