Huawei feels the burn of u. S. Tensions. We have an exclusive interview with the chairman in the midst of a sales lunch, whose says the company has a plan b. And the cost of being cool. A former executive testifies the Company Fired thousands of workers in recent years in an effort to compete with Companies Like google and amazon. The latest on multiple age discrimination lawsuits facing big blue. Our top story of the week, apple earnings. The tech giant forecasting revenues that topped analyst estimates, seeing a surge in services, which now contribute to a fifth of total sales. They also reported the iphone represented 48 of revenue, the first time it has made up half of sales in several years. In a way, this is progress towards apples less reliance on the flagship product and more on new lines of business. I got reaction from bloomberg businessweeks max chafkin and a Portfolio Manager, dan morgan, who manages about 240,000 shares apple stock for his clients. Dan it is an interesting
Joining us for the entire hour is tobias levkovich. Welcome. Thank you is this just a bounce from oversold conditions or would you buy into the rally i think that it is more of a bounce off oversold conditions look, things like energy, financials, have come back we were so hammered in the last couple weeks the issue that you need to resolve is earnings. That will be the more problematic phenomenon and so do you feel good about what earnings could be i think that earnings are still too high for the balance of the year and beginning of next year. I think consensus numbers for next year for example are about 10 , probably should be more like 5, maybe 6. So that is the issue so doesnt feel so good the white house pushing the message that recession fears are overblown. President trump tweeting today, our economy is very strong decembspite the lack of vision the fed but democrats are trying to will the economy be bad for purposes of the 2020 election. Very slchish before our dollar is so str
The burn of sanctions. We have an interview with the chairman who says the company has a plan b. L. The cost of being coo an executive testifies they fired workers in an effort to compete with Companies Like google and amazon. The latest on multiple age discrimination lawsuits facing big blue. Apple forecasted revenue the top analyst estimates about seeing a surge in services which contributes to a fit of total sales. They also reported the iphone revenue, the5 of first time it has made up half of sales. In a way, this is progress towards apple less on the flagship product and more on a new lines of business. Andt more from max chafkin a portfolio manager. It was interesting, if you would have told me they would have missed on those services and revenue, i would have said there was no way they would beat on top and bottom line. Wearables was a big plus. They also used about 21 billion of cash on the quarter to repurchase shares and increase the dividend. I think they kept it at . 77. T
With the chairman in the midst of a sales lunch, whose as the company has a plan b. And the cost of being cool. A former executive testifies the Company Fired thousands of workers in recent years in an effort to compete with Companies Like google and amazon. The latest on multiple age discrimination lawsuits facing big blue. Our top story of the week, apple earnings. The tech giant forecasting revenues that topped analyst estimates, and services now contribute to a fifth of total sales. They also reported the iphone represented 45 of revenue, the first time it has made up half of sales. In a way, this is progress towards apples less reliance on the flagship product and more on new lines of business. I got reaction from bloomberg businessweeks max chafkin and a Portfolio Manager, dan morgan, who manages apple stock for his clients. Dan it was interesting, if you would have told me they would have missed on both services and revenue, i would have said there was no way they would beat on
One trader says get ready to pop the pepto, serious indigestion could be on the way. Beyond meat serving up another record high. Could anything stop this sizzling stock later on, it is game on as the fortnite world cup kicks off 30 million on the line and we put tim seymour to the test with some of the worlds top players and well find out how he did. We begin with breaking news out of washington just moments ago President Trump talking everything from tariffs to apple to the dollar to fed chairman powell, just moments ago Kayla Tausche was listening in live at the white house. It was a grab bag of topics for the president just days ahead of the first round of facetoface negotiations since a truce with china at the g20 President Trumpinjected pessimism into the outcome listen china will probably say, lets wait, it is 14, 15 months until the election, lets see if one of these people that give the United States away, lets see if one of them could possibly get elected and ill tell you what