Look after the nearly three million refugees already there. Former republican president ial nominee mitt romney will vote for texas senator ted cruz in utahs caucuses next tuesday. Romney made the announcement in a facebook post. He said hes working to unite the Republican Party around an alternative to donald trump. And lawmakers in brazil are moving forward with proceedings to impeach the president there as a corruption crisis puts her administration in jeopardy. A federal judge has suspended an injunction that blocked her appointment of her mentor, former president , as her chief of staff. Global news 24 hours a day, powered by our 2,400 journalists in more than 150 news bureaus around the world. Bloomberg west is next. Emily im emily chang and this is bloomberg west. Coming up, apple set to unveil new products at an event on monday. Will we see an unhackable phone in the lineup in well ask the experts. Plus, its a Virtual Reality hat trick this week. I sit down with h. T. C. s head to check out their new hardware. And the show time. As the network sets out on an ambitious expansion. We catch up with the man leading the charge, the c. E. O. First, to our lead. Silicon valley gearing up for announcements from apple on monday. One day before a major ruling in the San Bernardino case, which could determine whether apple is in fact required to unlock the gunmans iphone. So, what can we expect from this event on monday . Could it have any bearing on the debate raging over encryption . For more, im join now by the Senior Editor at 9 00 to 5 00 mac. Set the stage for me. What is going to happen on monday and will this have any bearing into the hearing on tuesday . Guest its clearly going to be an event where everything tim cook says will be passed very closely. Any illusion to new security and privacy measures in the devices, people are go go going to see that as a jab at the department of justice and the f. B. I. We dont know if hes going to directly address shoot or make some sort of statement when hes got all the world, the tech media looking at him. But clearly its very close and it would be a great opportunity to do so. Emily if they bring out steve cook, that would be something. Mark, you have a network of apple sources that is unrivaled what are you expecting to be unveiled at this event, specifically, will there be a smaller phone, an iphone s. E. , and what will the features be . Guest sure. I think that this events going to focus on three product lines. The iphone, the ipad and the apple watch. In terms of the iphone, were hearing thats going to be an iphone s. E. , which will have a smaller fourpoint 4. 0inch screen which is smaller than the 4. 7 and other screens. This will really be appealing to people who had older iphone models, looking for something thats a little bit more functional and easier to hold in the hand. Emily so, you also believe theres going to be a new ipad, potentially an apple watch update. Tell us. Guest sure. So theres going to be a new version of the 9. 7inch ipad and this is the ipad screen size that first launched in 2010. The current ipad at this size is the ipad air 2. Thats going to stick around. What apples going to do is take the ipad pro, with all those features, with the physical keyboard and the stylist pencil, and theyre going to bring that to the smaller screen size. So theyre going to come out with a 600 ipad pro, with a 9. 7inch screen, which is going to appeal to education, and business customers. Sort of another higher end tablet to go after the microsoft surface. As for the apple watch, we understand that theres going to be a apple watch 2, a redesign with many new features, around september in the fall. But for now, were going to see another refresh, sort of like the one we saw last year. New colors, new bands, new Software Features. Its going to be a light event, but theres going to be some refreshes across the three major apple platforms. Emily now, with regard to the encryption part of this debate, i was speaking with michelle, cofounder of cloud flair. Take a listen to what she thinks is going to happen on monday. Another way to look at this, theres a security vulnerability on the phone. Apples going to close the security vulnerability. And theres going to be an update in the future operating system where its not possible. It might be right now, but that windows closing. And if i was a betting person, i think on monday at the apple event, the biggest announcement there is the update to their operating system. Emily so, mark, theres been talk of an unhackable phone. Is that going to happen on monday . Are we going to see a new operating system that is quoteunquote unhackable . Guest i really dont think so. I think its way too soon. In terms of apples Software Engineering infrastructure. For a new operating system and a whole new dynamic thats quoteunquote unhackable. I think were going to see a lot about security enhancements and Software Features in mid june, at the annual developers conference, and perhaps around the time of the iphone 7 launch this fall in september. As for monday, perhaps theyll highlight the security features that already exist in i. O. S. 9 or perhaps theyll highlight the secure n. F. C. Chip for apple pay and the touch i. D. Sense or maybe tim cook will have some thoughts on the whole f. B. I. Case that he wants to share publicly. But i dont think were going to see any major security announcements in terms of new features or software next week. Emily from a business perspective, this is the first year that analysts are predicting an iphone sales decline. In a decade. How important is this event to their business . Guest analysts, ive been speaking to a lot of them, the consensus is theyre going to do about 15 Million Units on this per year. Now, compare that to 231 million phones sold last year, its not a massive blip on the radar. It could help taper some of the faltering sales. The customers who had the iphone 5, maybe had them two or three years, now if they want to upgrade a phone, if they want a cheaper option right now, they probably have to go for a samsung. This kind of plugs that gap. They can keep the apple customer basically. Emily one last quick question to you, mark. Normally we see phones announced in the fall. Do you think this is going to start a new pattern where apple starts spreading out the launches over the course of the year and does that help the business ultimately . Guest absolutely. For the past few years, before last year, we saw apple move many of their product launches to the second half of the year. And the hardware launches really toward the fall, september, october, october, november. But we see theyre starting to move some launches across the year, maybe in the spring time frame like theyre doing this year and last year and in the summer as well. I think thats going to improve apples earnings and what to watch for in that regard over the next few years. As they transition away from a packed second half of the year to more of a spreadout product road map. Emily all right. Thanks so much for joining us, mark. Our very own alex, our apple reporter, youre going to be with us later in the show. I want to stay with apple, though. Taking a look at how the company has been doing in the markets. More analysts changing their calls on apple. What are you hearing from the street . Guest first up, lets take a look at whats been happening in terms of apples stock so far today. It has not changed very much today. Were up by only about. 1 today. Weve been talking about the year to date number. Lets see whats happening year to date with apple. We can see that weve seen a fall from january in that january and february route that weve seen. And we come back up to where we actually begin. Its up about. 6 , just year to date. Now, its interesting that looking ahead to the apple iphone, the new one, that analysts calls seem to be slightly positive, slightly negative. People dont seem to be exactly sure where they want to go. So, for example, ill read out a couple to you. R. B. C. Capital today just saying that the march 21 event should be a positive catalyst. As alex just said, they expect apple to sell only 10 million to maybe 15 Million Units each year. But that could boost results in the runup to the iphone 7. Oppenheimer also going the other way, saying investors are likely to be underwhelmed by the next several events. With that said, if you look at my bloomberg terminal right here, behind me, basically analysts are still very, very bullish on the stock. The green here represents the buy calls, the yellow represents the holds and the red represents the cells sells. You can see the price target here is stillwell above the actual stock price for apple. So its interesting to see that analysts, despite whats happening with apple, despite the iphone sales potentially dropping, analysts are still very, very bullish. Emily thank you so much for that update. We will of course bring you all the details from apples product event on monday with special coverage starting at 1 00 p. M. New york time, 10 00 a. M. Here in San Francisco. As the event kicks off. The Tech Industry is getting more vocal about social issues, with the c. E. O. s of intel, twitter and yelp among those calling for georgia governor to veto a controversial bill. It would allow businesses in the state to deny not only employment but also education and Charitable Service on the basis of religious beliefs. On friday, twitter c. E. O. Tweeted, twitter and square oppose discrimination in all forms. Do the right thing and veto house bill 757. Proud to be a lgbtqally. Its one of several political skirmishes playing out at the state level. Coming up, the h. T. C. Vibe hits the market hot on the trail of the oculus rift but at a staggering cost. Emily as the Game Developers conference in San Francisco comes to a close, we have final details from the big three Virtual Reality headset makers. Consumers can now decide which is worth their money. The rift hits the market first. The c. E. O. Made the case for the rift saying it has the allegiance of hard core gamers. We look at this burly first generation as something thats largely pioneered and supported by enthusiasts. And especially hard core gamers. And having they want the best. So having the best is a really good place to be. Emily next, playstation v. R. This is way cheaper than the competitors. But the down side is its not available until october. Sony expect told us why the delay isnt a big deal. As far as the v. R. Experience goes, i think were really happy were able to address over 36 million ps4s that are v. R. Ready right now. Emily then theres the h. T. C. Vive, the most expensive of them all, coming in at 800. H. T. C. s head of Virtual Reality joins me now to make the case for the highend headset. So its the most costly. Why should users buy this over ock us will, over oculus, over playstation . Guest our solution is the most complete solution. Its the best solution. Emily why . Guest its the solution that puts you at the center of the content and allows the content to be all around you and actually gets you up and moving around in your content. So you have what we call room scale. You can move around in that content and have it all around you. And then you also have controllers for the solution which are tracked in space and you can interact with your content. All of that is in the box. Emily to put it in lehmans terms, when youre wearing the headset, the vive, you can actually see whats going on outside. You have the camera guest yes. We also have a frontfacing camera. With the ability to get people up out of the chair and move around, which this solution does do seated experiences, standing experiences, and then room scale. When you move people around, you need a safety system. We have a chaperone system which keeps you safe, keeps you from bumping into walls and other people and things like that. Emily and you can make calls, you can get texts. Thank goodness. While youre wearing that headset, youre not cut off from the rest of the world. Guest thats right. We spent a lot of time in v. R. Staying connected was extremely important. Emily one of the biggest advantages you guys have is your relationship with on the software side. Tell us about that. Guest we built this in partnership with valve who also owns steam. The steam is, you know, 125 million customers, really hard core gamers. People that already have that highend p. C. That youre talking about. To use the vive without doing any kind of upgrade. So we actually have a very healthy base of customers to go work with. With our partner. And then we also developed not only the hardware and software together. Emily oculus and sony, they say theyre targeting different audiences. What audience are you targeting . Guest if you look at the types of content that we have, a lot of it is gaming content in the very beginning. Then now we also start to show where we have a wide breadth of partners. Well beyond gaming. Gaming industry is going to really start to innovate and pioneer and drive the adoption of this. But then we also have nongame partners like audi, auto desk, surgical theater, whos developing an application by doctors for other doctors. To actually take a scan of your brain and be able to walk through that instead of looking at it in a 2d format, so we have a lot of partners that are in the game and then in the nongame space. Emily weve seen the viral video of the animator doing the little mermaid, wearing the h. T. C. Take us a little deeper into some of the more practical uses of this now. Guest right. So, not only just having fun and playing games, but you look at what glen did, that was actually an art medium where he was drawing in 3d and being able to walk then through the actual art. So that was really fun. Theyre having fun with it. Theyre just Getting Started with how they can use this. Then looking at somebody like audi or some of the other partnerships that we have, theyre not just looking at it from a standpoint of getting people to, you know, look at a car in a show room. This is actual engineers that are looking at, i dont have to design a car in clay anymore. I can do it in v. R. Emily so when do you come out with a more affordable option for an everyday user . Guest quite honestly, were really proud of this price. Because its delivering not only the hardware and the product in the box, but its delivering a lot of the content. The delivering the best experience. Its delivering on what we all thought that promise of v. R. Was, of being at the center of the content, having it all around you, being able to interact with it and then delivering it through a world class partner and platform of steam. Emily when could you think do you think Virtual Reality passes the mom test or are you not going after your typical mom . Guest my mom has tried it. She loved it. Emily really, when are they not going to just try it but actually pay for it, want to use it . Is that even guest i think thats a little bit down the road. I think that your initial adopter in this first year is tech enthusiasts, a lot of gaming, and then a lot of enterprise. And professionals are going to start adopting it and using it for their applications. Presenting content, presenting different mediums and product. So i think its going to be its going to follow the developers and what the developers actually develop and have the content for, thats how the consumer adoption is going to happen. Emily all right. Thank you so much for joining us. Its the one i havent tried yet. Guest cannot wait for you to try it. Emily thank you. Speaking of v. R. , nokia has officially returned to the consumer hardware space. Not with a phone. But this time with a launch of a 60,000 Virtual Reality camera. Its called the ozo. They claim this is the first highend v. R. Camera thats ready to go out of the box. The meant to be sold or rented to pro film makers but eventually they plan to introduce cheaper versions for hobbyists. Coming up, after a week digging into the most sophisticated Virtual Reality headsets, we asked the question, is the age of v. R. Finally here . Or do we need to get back to reality . Emily a Global Real Estate engine geared for chinese buyers is seeking to go public by the end of the year. The firm is raising funds from Institutional Investors before an i. P. O. Plan in australia. The c. E. O. Declined to elaborate on specific timing for the initial offering. Chinese buyers have been stocking up on property overseas with increased wealth. Turning back to the world of Virtual Reality, we just heard from h. T. C. s head of v. R. Who made the case for the most expensive headset among the big three makers. Oculus, playstation and h. T. C. With these gadgets hitting the market so soon, we asked whether the age of v. R. Is finally here. Joining me now to bring us take us put this all into context is our Bloomberg Intelligence analyst. Youre a huge v. R. Buff. Youre probably more excited than anybody i know about Virtual Reality. But bring us back down to earth. We dont know if how big the market really is. All of these headsets are different. If there is a huge market to be had, its going take time to develop. What do you see . Guest if you look at the expectations for this year, there are about 1. 4 million headsets projected to sell. A billiondollar business. Great start, but its going to take time. Its going to take time for it to become a mainstream product. Something like what the iphone did to the smartphone industry or for it to reach those skills. The fun factor needs to become much more simpler, the Processing Power needs to go up. The bandwidth issues need to be resolved. There are a lot of things that need to take place before we hit mainstream. Whats going to happen in the next couple of years is youre going to see unique angles coming from a couple of companies. Sony is pitching it to their people. Its a fairly priced product, i guess. Plan for the holiday season. It works with them, not just from a sales perspective of the headset, but to help them take market share for from xbox one. It helps sony from that perspective. If you look at facebook, its going to target it toward p. C. Gamers in the beginning and doctors initially. But the evolution of th