The coronavirus takes a toll with tech leading losses. Earlier, apple cut its revenue guidance for the march quarter with the outbreak continuing to impact the iphone maker supply and demand. The coronavirus is impactful, but not permanently impactful. In other words, it is a temporary blip. On the demand side longer term for apple, i dont see any issues so that gives me a lot of confidence we will see a nice rebound when this is over. The bad news is, apple made a big bet on china. 20 of revenue, a huge part of the supply chain. If the virus isnt contained, this will continue to be a problem. In longerterm, it china and the was a u. S. Are likely to be at loggerheads. I think the virus could be a problem longer market thing. There is no better ceo to handle the current challenges then tim cook and while it is currently concerning, having him at the helm is very reassuring. It is quite hard to shift production in a number of weeks. Emily we got more reaction from the Senior Research an
Billionaires adding more than a trillion dollars to their wealth this year. Lets get straight to the burning issues. With me is jason kelly, sonali basak, and Patrick Connor clark. The Public Markets have been shrinking. Give us a sense of how much we have seen the public world contract. Jason its dramatic. Obviously, im here in the heart of it in San Francisco, where Companies Stay private for longer. What that has meant is, over the last two decades, about half of the Public Companies have gone away, they are not publicly traded anymore, and that has been a boon here, Companies Stay in private for longer, but it has life implications for investors. A sense of whyt so Many Companies are deciding against going public, why they are sticking with private financing . The moneynly because is absolutely available. Here in silicon valley, we talk about venture capital, but private equity, we are talking about 4 trillion plus under management when you talk about private equity writ large, inc
This years no different while the averages got hit and dow dipped 120, and the nasdaq only slipping three basis points, in fact, the nasdaq, though, is up more than a percent for the year while the other averages are barely positive and the tech part of the index which is what im focusing on tonight is pretty much on fire yep, today we saw remarkable moves and all sorts of tech stocks after analyst after analyst issued bullish recommendations that reverberated throughout the whole sector pit action this is a special time when the analysts survey their universe and make predictions so far the predictions have been positive as they pretty much are every year but why not theres plenty to like better than expected quarter from a company that you probably never heard of called microchip bolsters a host of semiconductor stock, Analog Devices with a big upgrade. Both of those companies are seeing Strong Demand you always have to buy these stocks coming off the bottom thats what ive been telli
Happy tuesday. These are your markets. A lot of the focus this week will be on earnings. We have a lot in the u. S. And europe. Of days awayle from the signing of that phase one trade deal between the u. S. And china. We are still trying to figure out what happens between the u. K. And the eu. There is a lot of speculation. While Bank Earnings c,itif with j. P. Morgan and wells fargo will follow after. We will focus on what blackrock Just Announced moments ago to focus on more sustainability. Lets get to the bloomberg first word news. The Worlds Largest asset manager is upping its push to a greener future. Blackrock will put Climate Change at the top of the investment strategy. Inwill avoid investing companies with sustainability risk. The u. K. Is likely to secure a trade deal with the eu, according to Boris Johnson. He said he is very, very, very confident. The transition phase is currently scheduled to end on december 31. Iraqi leaders privately want u. S. Troops to stay in the coun
Alphabet. We will have details. Wework went from one of the most anticipated ipos to a floundering Coworking Company just trying to survive. We will look at what it faces in the new year. But first, our top story. Bloomberg was the first to report the iphone maker has a secret team working on a satellite technology, striving to find new ways to beam data directly to its devices. This is all according to people familiar with the matter. The company has about a dozen engineers from the aerospace satellite, and antenna Design Industries working on the project with the goal of deploying their results within five years. For more, i want to bring in bloomberg technologys mark gurman. What do we know so far . It is topsecret. It is operating like a startup in apple. It has the right funding. It has the ear of tim cook. It has a bunch of Aerospace Engineers and executives working on a plan to let iphones and other apple devices receive their data directly from apple developed antenna towers, s