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Ed google ceo blasting the failure of the gemini image generation feature is the Company Looks to remedy the situation. The Company Reports earnings going public. New ai products. All that and so much more prayed lets check in on these markets because there was Economic Data not much to catch the attention today. Currently off about 4 10 of 1 on the nasdaq really caring about the pce number. Inflation data by the Federal Reserve which comes out tomorrow. We see a little bit of a selloff ahead. This is the u. S. Trade inversion down 1. 5 so really some weakness coming over a pretty ugly day in china trading. Nothing really moving just about one basis point. Where there is action to him on the macro perspective looking at one particular asset choice. One 7. 7 higher. ....
Comparable store sales. Sales guidance did come inabove consensus. Ai, of course, also in focus, as it always is. Sergei brint speaking out saying the company definitely messed up its gemini image generation launch. Apple down in the premarket, again, following the report that iphone sales plunged 24 in china yearonyear for the first six weeks of 2024, face competition from local smart phone firms like huawei. This is boutique data, but they are on track for five days of losses. Trying to get a confirmation. A lot of these Different Services you have to take with a grain of salt. I would say, if you take china itself and look what theyre buying, theyre all trading down. Theres a lot of things wrong with china. I told club members yesterday, it could go to 160 without really a problem. You have one of the great ef performers of all time, caught in mid cycle. David, we dont know if theyre going to have the samsung like ai in the ....
The biggie, jim, is apple. Its been hanging around right at that line but did dip below as i look at it in real time. Were right there at 170. Its a heavy tape this is what a heavy tape looks like. A heavy stock and a good tape. Thats the problem. That is the problem. Sales are worse than expected. Anybody who is fundamental on the stock looking at china as an area that is gangbusters because of what the economy is doing. At the end of the day this is still apple. The Services Business is fabulous. Im not particularly very bullish on the eye wear theyve come out with. This is a mid20s multiple. Im comfortable with my ownership in it. Ive had about half the market weight in it. You say, gee, i wish i didnt own any of it. This stock will find its level. I suspect its around 160 but, honestly, folks, you have to just let it find its level. When it does, when it bottoms out, i will be adding to it. There is no fatal flaw here. Josh ....
Now looking at none to one. This is bloomberg surveillance with jonathan ferro, Lisa Abramowicz, and annmarie hordern. Jonathan live from new york city, good morning, good morning. For our audience worldwide, this is bloomberg surveillance with Lisa Abramowicz and annmarie hordern, i am jonathan ferro. We got to begin with this name. Apple. The latest reporting from our colleagues at bloomberg. Apple canceling a decadelong effort to build an electric car. Lisa a decade ago it was building a car would be the next vr headset, the next artificial realitytype of experience. It turns out it is a bad business to build cars. Its a Good Business to say we have something with ai in whatever form it is and it will transform your life. That will gain more traction. Jonathan there is information what theyre moving away from, moving ....