19 Burst results for "Bush Securities"
Bloomberg Radio New York
"bush securities" Discussed on Bloomberg Radio New York
"The latest edition of the tape podcast, a conversation with Dan is a web bush securities. We think the video right here $500. When you start to look at where this could be 5 to 600 hours, could be fair value, based on the increment opportunity, and then you even streamlined to Microsoft Yeah. Cool keys. I mean, you could have a stock with a four in front of it because now all that incremental spend, it's going to Microsoft. It's going to Alphabet. It's going to potentially Amazon and others. In my view, to your question, I view it that now look, execution is clearly there will be issues. Now there's going to be losers. There's going to be AI roadkill as well. Yeah. But this goes back to basically a late 90s type feel in terms of trying to identify the winners. There will be losers from evaluation perspective. I think it's a goal rush because now it really changed the whole paradigm. Here's what I see, having been in this market for more than 30 years. I see the average portfolio manager anywhere in the world saying I have to have exposure to AI calls up his tech analyst, tech analyst comes back to the NVDA. That's what we're seeing here today. I don't see. I don't see a $750 billion market cap stock up 25% on anything more than just panic buying almost. But to your point, I mean you could call it foma but so many ambassadors that sit there and debt ceiling macro valuation, you miss these moves in the video in Microsoft and alphabet in terms of institutional speaking, you're trying to figure out what font to use in the resume this year. Right. And I think that's
The Breakdown
First Republic Is a Zombie Bank
"Today is a macro show because all week, people have been watching first republic and asking whether it's the next banking domino. On Monday, first republic disclosed more problems than anticipated in its quarterly report. Block works Jack Farley summed it up in a tweet. First republic banks deposits fell by 40 percent in 22 days. If not for the $30 billion rescue package from big banks, the decline would have been 50 7%. First republic reports that their outflows have stabilized, FRC also expects to reduce headcount by 20 to 25%. Keep in mind FRC is the most high profile and dramatic instance of deposit flight to occur at a bank other than the banks that got taken over by the FDIC. So let's give a few more details. First republic was one of the banks that was subjected to a severe bank run in mid March. U.S. depositors had become jittery about midsize regional banks and first republic fit the bill. One of the ways that first republic had their situation stabilized as compared to signature or SVB, was that a consortium of mega banks provided them with a deposit of $30 billion to shore up their liquidity. The deposit was placed for an initial term of 120 days. First republic's quarterly results showed that the banks deposits had plunged by 41% around $100 billion before accounting for the liquidity lifeline, which is a much worse outflow that had been forecast. The bank added that it had cut as much as a quarter of its workforce, reduced outstanding loan balances, and curbed other non-essential activities. An analyst with web bush securities said, quote, first republic is an idiosyncratic situation in terms of the magnitude of the stress that it's under.
Bloomberg Radio New York
"bush securities" Discussed on Bloomberg Radio New York
"Company news headlines. From Bloomberg world headquarters, I'm Charlie pala two 53 on Wall Street Citigroup is cutting hundreds of jobs across the company with the Wall Street giants investment banking division among those affected. Now sources say the cuts amount to less than 1% of Citigroup's 240,000 person workforce, staffers across the firm's operations and technology organization and U.S. mortgage underwriting armor also among those affected Citigroup shares now down by about 8 tenths of 1%. Tesla's much awaited investor day failed to live up to the hype. The shares of the electric vehicle maker paying the price Tesla down now by 6 and a half percent. Dan Ives is with web bush securities. He's got a $225 price target on the stock, along with an outperform rating. They lead the groundwork for what I view as a flex a muscle type of event from a scale in scope in terms of what you're doing in EVs. But you didn't have a sub 30 K vehicle introduced. I think that's still to come. But I think they read the groundwork for a stock will sell off future and now it becomes a sort of what's the next step on this road map. And right now we do have Tesla shares down 6.7% Macy's soaring after the retailer reported fourth quarter earnings that exceeded expectations thanks in part to sales growth at the Bloomingdale's and blue mercury brands, Macy's shares are rallying now by 10.6%. Salesforce.com after earnings up 12.2%. And those of the company's stories were following the Tsar, I'm Charlie pallet this is Bloomberg.
Bloomberg Radio New York
"bush securities" Discussed on Bloomberg Radio New York
"Opt to Nancy Lyon, she's Internet and no one newsroom in D.C., hey Nancy. Thanks, Carol. President Biden is outlining his plan to reduce the deficit while investing in America, things like increasing the tax on billionaires. And during an appearance in Maryland this afternoon, he called out Republicans for a plan, he says, will increase the deficit. To say you want to reduce the deficit, but their plans are going to increase the deficit by $3 trillion based on what they introduced so far. So where are they going to cut? They're going to cut Medicaid and Affordable Care Act and catch social security or Medicare, veterans benefits, aid to farmers. Just today, the congressional budget office released its estimates for the budget deficit and says it's now seen to be $426 billion worse than projected last May. It's now projected to be $1.41 trillion. A white supremacist will spend life in prison without parole for the hate motivated terror killings of ten black people in Buffalo. Inside the Erie county courthouse this morning, the sentencing hearing for the shooter at the buffalo supermarket included statements from victims families. One of them Simone crawley, the granddaughter of victim Ruth whitfield, addressed the killer directly, saying they will pity him as he spends the rest of his life behind bars. You will simply go from a name to a number. You will be herded like cattle. You won't be shut away from the world. You will not enjoy family events. You will not enjoy outings with friends. You will be nameless and faceless. The sentencing hearing was disrupted briefly after a member of the audience rushed the killer and he had to be removed from the courtroom. China warned today it will retaliate against the U.S. over violations of its sovereignty, potentially escalating a lingering dispute just as both nations foreign ministers plan to attend a security conference in Germany. China's foreign ministry spokesman claims the Chinese balloon. Was doing weather checks. Global news, 24 hours a day powered by more than 2700 journalists. Bloomberg radio on demand and in your podcast deed. On the latest edition of the tape podcast, a conversation with Dan Ives of what Bush securities. The goalposts for mosques we've seen before continue to get pushed out and I think when it comes to Twitter, you know, clearly that's been less of an overhang in the last few months. But I think investors want to see monsters weezer focused on Tessa on SpaceX and some of the any kind of focus. It doesn't have to be a laser. Just a little bit of focus on Tesla, right? And I think what we've seen the last few months, like part of why Tesla stocks don't has it, they need strategic decision in terms of the price cuts which were massive home run successes. But I think when you look at the Twitter account prices and they raise prices, what are they doing over there? Look, I think they're trying to find the equal whereby I'm on supply demand. I mean, I think in China by throwing spaghetti at the wall, I mean, come on, man. It's Tesla. Why don't you just make a decision and stick to it? There's so many questions I have. I'm so glad you came in here, Dan. And I was listening to Ross Gerber last night. He was saying, we got to reign this guy in. We got to get him back to Tesla. And we need a succession plan, right? Because if anything happens to Elon Musk, talk about key man risk. He has nobody in place. Kimball's not going to come and run it, right? The bigger thing is Ross has talked about is really more as competition grows in the U.S. and globally. You just want to make sure that strategically they're both defensive and offensively positioned. And I think from Musk, his investors, that's a huge part of the premium. We saw what happened with the Twitter situation. You know, call it from October to December, big par that was the Twitter overhang. But that's why you need sure that strategy and they must is going to talk will be there in Austin, March 1st, the big plan. So I think investors are trying to say, what is that? What does
Bloomberg Radio New York
"bush securities" Discussed on Bloomberg Radio New York
"Web bush securities. Dan, I know you've been dealing with this issue for all year. Your job over the years has been kind of in part educate your clients on the EV market on the opportunities on the investment opportunities. A lot of things have turned here in the last 12 months. Yeah, I mean, it's been a perfect storm. I mean, the first part was the must, Twitter, circus show driven. But this last part's been demand wars. And look, China is the hearts and lungs of the Tesla story. Competition clearly increasing within the country domestically. You're seeing price cuts and some cracks in the armor. And I think right now the big worry is you saw the price card today. What does that mean for demand? And especially what does that mean for margins? Look, my view is that they've actually have now the scale to expand margins. Or they have flexibility. They could cop prices, even other four to 5%. And margin still, you know, I believe could stay relatively range bound. But it's all about the fear of the unknown. You obviously have a key earnings. You key guidance coming around the corner January 25th, and Musk is the one that started the 5 alarm fire. He is the only one that takes extinguish it. Dan, if brands want to get away from the Elon Musk brand, because that's what it is, right? Do consumers want to get away from the Elon Musk brand? Well, I think brand deterioration has been issued. We've talked about it to black eye from Musk, it's a black eye for Tesla It's a fork in the road. It's a moment of truth for Musk and it all starts Jan 25th. You got to set realistic expectations to hit. And then I believe the stock starts to correct
Bloomberg Radio New York
"bush securities" Discussed on Bloomberg Radio New York
"And in your podcast feed. On the latest edition of the tape podcast, a conversation with Dan Ives of what Bush securities. Dan, I know you've been dealing with this issue for all year. It's your job over the years has been to kind of in part educate your clients on the EV market on the opportunities on the investment opportunities. A lot of things have turned here in the last 12 months. Yeah, I mean, it's been a perfect storm. I mean, the first part was the must Twitter circus show driven. But this last part's been demand wars. And look, China is the hearts and lungs of the Tesla story. Competition clearly increasing within the country domestically. You're seeing price cuts and some cracks in the armor. And I think right now the big worry is you saw the price cut today. What does that mean for demand and especially what does that mean for margins? Look, my view is that they've actually have now the scale to expand margins. So they have flexibility. They could cut prices even another four to 5%. And margin still, you know, I believe could stay relatively range bound. But it's all about the fear of the unknown. You obviously have a key earnings. The key guidance coming around the corner January 25th, and Musk is the one that started the 5 alarm fire. He is the only one that could extinguish it. Dan, if brands want to get away from the Elon Musk brand because that's what it is, right? Do consumers want to get away from the Elon Musk brand? Well, I think brand deterioration has been issued. We've talked about to black eye from Musk, it's a black eye for Tesla. It's a fork in the road. It's a moment of truth for Musk and it all starts Jan 25th. You guys set realistic expectations to hit. And then I believe the stock starts to
Bloomberg Radio New York
"bush securities" Discussed on Bloomberg Radio New York
"Exception perhaps of Apple, what happened? I mean, I feel like we got hit by a truck. It was a dark week, a hard show for large cap tech. I think the economy finally been a special and digital media on the consumer side. And even Teflon companies like an Amazon or even a Microsoft around the edges give them some of the currency issues. Apple's really only stand out from big tech. Look, I think this is just part of more maturity that we're seeing as we go through this downturn attack. And I think it's really going to be a bifurcation. You're going to have companies like meta that I think have a disaster situation, the way that their handling it, then you have to deal with where I think you're going to be seeing more and more success throughout this downturn despite what we're seeing. So what is going on with meta? I mean, I guess to put it bluntly, why is he doing this? Why is Zuckerberg doing this with meta because thus far nobody seems to be on his side? That conference call probably one of the worst comic books because I've heard in 22 years doing this. It felt like Ted Stryker in the movie airplane and turned me into darker birds and I think you're betting on metaverse at a time that it's a risky bet It's three to 5 years out. Yet social media is into the headwinds that we're seeing in its court. Platform, that's the concern right now, I think there's some dark things ahead for meta as you get through this. And I think ultimately, there's going to be more and more pressure on the board and on Zuckerberg to potentially change course here because it's a train wreck situation. And why is Apple so much in distinction to some of the other big tech companies? That's unparalleled. 1.8 billion iOS devices. And then you have a Hall of Famer CEO cook navigating with the continued product cycle with the iPhone 14 that's actually seen strong demand globally because there you need because of their consumer base and because of what they sell, even in services, profitability continues to be there. And they're the one that comes out more smell in that roses in which it's been a nightmare on Elm Street week for tech. And I wonder, Dan, how much of their revenue apple comes from advertising, as opposed to, for example, Google, or opposed to Amazon, people like that? It's spread at the restaurant. It's breadcrumbs. I mean, from an advertising perspective, that's why in this type of macro, an app is so much better well positioned in the digital media players. And that's why you come out here. I think you're going to see them gaining more and more share, especially on large cap perspective. So great to have you on Dan. Thanks so much for doing it. It's web bush securities, senior analyst for equity research Dan Ives. Coming up, former treasury secretary Larry summers weighs in on those GDP numbers. That's coming up next on balance of power. I'm Bloomberg radio. You see the value in worldwide market news. Stocks in Asia saw some heavy selling overnight. And you wanted first several fed officials beat the drum for higher interest rates. So do we. Crypto is in focus today. We're coming off another day of declines on Wall Street
Bloomberg Radio New York
"bush securities" Discussed on Bloomberg Radio New York
"And I've Denis Pellegrini in the Bloomberg newsroom. Tech stocks are feeling the love again. Amazon shares up 10% yesterday out in stronger than expected earnings. Apple up more than 3%. Dan Ives analyst with wet bush securities on the iPhone maker and CEO Tim Cook. I think it just shows that demand story holding up really globally. And that's something that's a rocket Gibraltar stock and even in these economic storm that we see. Cook when he talks everyone listens. And Ives they are on Bloomberg radio. Chinese stocks moved in the other direction yesterday. Capping a brutal month for investors, according to Bloomberg's Greg Jarrett. From signs of a renewed crackdown on the tech sector to an escalation of the crisis engulfing property developers and a rebound in COVID-19 cases, traders have had to contend with a lot of bad news in July with little sign that authorities were planning to go big on policy support doubts arising again about whether a bottom has yet been seen for the Chinese market. All right, thank you, Greg. New York representative Carol maloney, calling for the head of the Department of Homeland Security's watchdog to step away from investigating those missing Secret Service text messages. Maloney is chair of the House committee on oversight and reform. She says inspector general Joseph kovari failed to do his job. No immediate comment from the inspector general's office. Home prices in the Hamptons reaching records last quarter, but the markets pandemic boom days may be coming to an end. More on that from Bloomberg's Charlie pellet. The median sales price across the Long Island beach towns was $1.6 million an all time high and up this according to appraiser Miller Samuel and brokerage Douglas element real estate for luxury properties the top 10%, the median soared 31% to $8.5 million. At the same time, the number of closings tumbled 35%. Thank you, Charlie, and global news 24 hours a day on air and on Bloomberg quicktake powered by more than 2700 journalists and analysts in more than a 120 countries. In the newsroom I'm Denise Pellegrini. This is Bloomberg. This is masters in business with Barry riddles on Bloomberg radio. I'm Barry results, you're listening to masters and business on Bloomberg radio, my extra special guest this week is Hannah Elliot, she has been covering automobiles for the past decade and it is one of my favorite car reviewers, she covers everything from hypercars to EVs to motorcycles for Bloomberg previously she covered luxury culture and travel for Forbes, Hannah Elliott, welcome back to masters in Bloomberg. It's so good to be master's business. What am I? Welcome back to masters in whatever the heck this is. Thank you. It's great to be here. I always enjoy talking to you 'cause I'm kind of a car guy. And before we get into automobiles, let's just start a little bit with your background of your career. You are staff writer at Forbes luxury. What led you to being a writer and what led you to luxury. It's a really funny story. I always start out by saying, of course, at Bloomberg, I get to write about cars. I get to write about the fun thing. Most people here write about how to make money. I get to write about how to spend money. This was not by design this was not my plan. I did love words and books and I did study journalism in college. I went to Baylor university. Thinking of Brittany griner right now, she also went to Baylor, so shout out Brittany. But I went to Baylor, I got a journalism degree, and moved to New York. I had interned writing about politics and religion actually, but saw on Craigslist and ad to assist the automotive editor at Forbes. And I knew nothing about cars. I come from a sports family. I'm not a car. I still say I'm not actually a car person. This is my job. It's a beat. Were you a sport? Did you play sports? Yeah, I ran track. I was gonna guess volleyball because I was a basketball. No, you short for best bowl, but you could ride height for a beach volleyball I got some cousins who are very good at volleyball. They played an SMU. But I was a runner. My dad ran for Nike in the 80s. Oh, really? A marathon distance. So I come from a big running family, my brother played basketball actually in Europe professionally. So big sports family, no car. Anything. I mean, no, I mean, I did know how to drive a stick shift because my dad taught me in his old Ford when I was 16, mostly because I bug them just to do it. But I had an uncle with an Acura legend, which was probably the nicest car I was ever exposed to. Wow. And just shared an old Buick skylark with my sister in high school that I was very embarrassed by. So not understandably. Although my sister actually, I think she kind of liked it. But not interested in cars at all. But back to this Craigslist ad, I figured, well, Forbes is a good brand. It's recognizable. I know I want to do journalism. There's my foot in the door. I'll figure it out once I get in. And fast forward, you know, this was on like 2007, 2008, a lot of people got laid off in the industry, my editor who I'd been working with for a year and a half or so got laid off. He was expensive. I wasn't. Being paid. Next to nothing. So it was like, well, who can write about cars and pick this up? Because we just fired the guy who was covering him, which doesn't make sense. Right. And so, yeah, Elliot, you go. And Matthew de Paula, I will always be so grateful to him. He was the editor. At Forbes at the time who hired me and really for a year and a half took me around everywhere and just taught me the beat. And that's how I approached it. This is a beat. I'm going to approach this just like anything else. There are no wrong questions. It's just like, this is the way that I would cover anything. And then I always kind of thought, well, I'll eventually go into other things, and I did certainly do luxury and watch coverage at Forbes and celebrity coverage. You know, I got to talk to everyone from Jennifer Lopez to cover story on Elon Musk back in the day before anyone really knew about him, which is right. Crazy to think about now. So yeah, so Forbes was great and just kind of was like cars where the
Bloomberg Radio New York
"bush securities" Discussed on Bloomberg Radio New York
". President Biden is testing positive for COVID again. The White House says the president tested positive for the virus on Saturday after testing negative for several days. The president's position explained Biden has no symptoms and feels quite well. Doctor Kevin O'Connor had previously warned of the potential for a rebound in positive test results among a small percentage of cases. He added the president will self isolate according to CDC recommendations. At least 25 people are dead after historic flooding in eastern Kentucky. Governor Andy beshear confirmed the new number during a news conference this morning. The governor also clarified that four children were among the victims and asked for prayers adding there are still a lot of people unaccounted for. The Illinois lottery says a winning mega millions ticket worth over a $1 billion was sold in Illinois. Lottery officials say a ticket purchased at a speedway in displaying Illinois matched all 6 numbers in last night's drawing. That's the latest I'm Julie Ryan. And I've done this Pellegrini in the Bloomberg newsroom. Tech stocks are feeling the love again. Amazon shares up 10% yesterday. Stronger than expected earnings, apple up more than 3%. Dan Ives analyst with wet bush securities on the iPhone maker and CEO Tim Cook. I think it just shows that demand story holding up really globally and that's something that's a rocket Gibraltar stock and even in these economic storm that we see cook when he talks everyone listens. And the Ives they are on Bloomberg radio. Chinese stocks moved in the other direction yesterday. Capping a brutal month for investors, according to Bloomberg's Greg Jarrett. From signs of a renewed crackdown on the tech sector to an escalation of the crisis engulfing property developers and a rebound in COVID-19 cases, traders have had to contend with a lot of bad news in July with little sign that authorities were planning to go big on policy support doubts arising again about whether a bottom has yet been seen for the Chinese market. All right, thank you, Greg. New York representative Carol maloney, calling for the head of the Department of Homeland Security's watchdog to step away from investigating those missing Secret Service text messages. Maloney is chair of the House committee on oversight and reform. She says inspector general Joseph kafa failed to do his job. No immediate comment from the inspector general's office. Home prices in the Hamptons reaching records last quarter, but the markets pandemic boom days may be coming to an end. More on that from Bloomberg's Charlie pellet. The median sales price across the Long Island beach towns was $1.6 million an all time high and up this according to appraiser Miller Samuel and brokerage Douglas element real estate for luxury properties the top 10%, the median soared 31% to $8.5 million. At the same time, the number of closings tumbled 35%. Thank you, Charlie, and global news 24 hours a day on air and on Bloomberg quicktake powered by more than 2700 journalists and analysts in more than a 120 countries. In the newsroom I'm Denise Pellegrini. This is Bloomberg
Bloomberg Radio New York
"bush securities" Discussed on Bloomberg Radio New York
"Was elected president. I'm Brian shook. And I'm Charlie pellet. At Bloomberg world headquarters, stocks came roaring back with the best month for the S&P 500 Index since 2020. For the week, the S&P 500 Index was up by 4.3% after solid earnings from tech mega caps, beat occur as co head of investment strategies that Bernstein private wealth management. We have to remember that the market already priced in a lot of damage. And I think that's what keeps individual investors going. Really thinking about what is the equity market look like from here. Bernstein saw another up week for the S&P 500 Index to in a row, Matt Peron is managing director at Janice Anderson. You know, we look at it as somewhat of a relief rally. We wouldn't necessarily call it a dead cat balance. We think that the market will eventually find its footing. But this recent balance is probably because, hey, earnings weren't as bad as feared, right? We've been focused on inflation numbers on the multiple. And now we got to focus on earnings. People thought this would be the earnings season where we managed to have to cut and slash even their earnings estimates. And that hasn't been the case. Matt Peron of janus Anderson. Apple rallied today after earnings, Dan Ives is an analyst with web bush securities. I think China was the shocker down only 1% given the shutdowns. I mean, that was really surprising to the street. And I think it just shows that demand story holding up really globally. Dan Ives of Wedbush Apple today up 3.3% the tech stand out by far though, Amazon.com up 10.4%. S&P up 57 a gain of 1.4% that now up 315 up 1% NASDAQ up 228 up 1.9%. Global news 24 hours a day on air and on Bloomberg quicktake powered by more than 2700 journalists and analysts in more than 120 countries. I'm Charlie palette. This is Bloomberg
Bloomberg Radio New York
"bush securities" Discussed on Bloomberg Radio New York
"I'm Lisa Taylor. And I'm Charlie pellet. At Bloomberg world headquarters, stocks came roaring back with the best month for the S&P 500 Index since 2020. For the week, the S&P 500 Index was up by 4.3% after solid earnings from tech mega caps, beat occur as co head of investment strategies that Bernstein private wealth management. We have to remember that the market already priced in a lot of damage. And I think that's what keeps individual investors going. Really thinking about what is the equity market look like from here. Bernstein saw another up week for the S&P 500 Index to in a row, Matt Peron is managing director at Janice Henderson. You know, we look at it as somewhat of a relief rally. We wouldn't necessarily call it a dead cat balance. We think that the market will eventually find its footing. But this recent balance is probably because, hey, earnings weren't as bad as feared, right? We've been focused on inflation numbers on the multiple. And now we got to focus on earnings. People thought this would be the earnings season where we managed to have to cut and slash even their earnings estimates. And that hasn't been the case. Matt Peron of janus Anderson. Apple rallied today after earnings, Dan Ives is an analyst with web bush securities. Look, I think China was the shocker down only 1% given the shutdowns. I mean, that was really surprising to the street. And I think it just shows that demand story holding up really globally. Dan Ives of Wedbush Apple today up 3.3%, the tech stand out by far though, Amazon.com up 10.4%. S&P up 57 a gain of 1.4% that now up 315 up 1% NASDAQ up 228 up 1.9%. Global news 24 hours a day on air and on Bloomberg quicktake, powered by more than 2700 journalists and analysts in more than 120 countries. I'm Charlie pallet. This is Bloomberg. Bloomberg wealth is brought to you by Meryl, a Bank of America company, visit Bank of America dot com slash marrow advice. Merrill Lynch pierce fenner and Smith incorporated registered broker dealer, registered investment adviser, member SIPC, a wholly owned subsidiary of Bank of America corp
Bloomberg Radio New York
"bush securities" Discussed on Bloomberg Radio New York
"But right now the street And this is important of the open Nvidia stock When companies start to lower guidance and stocks to get the knee jerk reaction last night they start to basically treat flat up Good my experience 22 years cover intact Those are signs we're starting to get towards some bottoming process and the video being a bellwether I think right now streets already baking in these numbers into next year And so Dan I mean I got to ask you about Tesla so it's up almost 2% today down about 38% so far this year The reason for today's pop I've heard it explained that you know it's Elon Musk He's dropping his plans to fund that purchase of Twitter with a margin loan tied to Tesla to his Tesla steak Does that theory hold water with you I mean how much do you think that possibility has been weighing on Tesla stock versus just the macroeconomic environment right now Yeah it's been a massive overheard Call it anywhere between a $150 per share overhang At the end of the day there's a better chance for me playing for the warriors than 54 20 half for Twitter stock And I think you see that in terms of the stock trading where it is 38 $39 Now the question is does most try to peak ultimately what's happening here Renegotiate on the bot issue on the seek account or does you walk away for a billion and they try to fight them in court in terms of the board of Twitter And that's why the finance that we saw changes the percent that Twitter happens but it's still 50 50 And at this point I think it's really more semantics in terms of how we've navigated from a finance and perspective Dan you know you say you know you've been covering this sector a long time You said 22 years as you talk to some of your longtime tech investors out there how are they viewing this quote unquote route in tech stocks in NASDAQ in the context of what has been a 1214 year solid run here Well I think it starts to get what I'll call a rational relative to the fundamental performance you basically have to assume that we're going to have a hard landing And a very very severe recession in terms of where some of these stocks are trade And I think that's why investors are trying to navigate this because clearly work from home ecommerce names some of these straw I mean those stocks some of them could continue basically go to zero and go away But when you look at the high quality tactic enterprise focus some of the stalwarts Stocks right now are trading where numbers are going to get cut anywhere from 5 to 10% or more And I think that's what makes it that much compassion Everything's basically selling I'll put this When snap one of the lowest quality companies over the last decade becomes a market indicator You know fear is high Furious All right Dan great stuff As always Dan Ives What Bush securities and managing director there becoming the tech names for over 20 years and we always appreciate his perspective on our broad swath of tech names and today we're just talking apple must Twitter bid We got Nvidia big chip maker so it's great to get Dan's perspective Right now with our news.
Bloomberg Radio New York
"bush securities" Discussed on Bloomberg Radio New York
"Swinging All right Greg tear we are here Thanks so much for that All right it has been a rocky tech earning season I would say here for the first quarter some positive surprises but probably more negative surprises cap off just recently most recently with the lift and Uber lifts down 30% Uber off 10% here So some real challenges for some of these tech investors So when we talk tech we talked to Dan Ives he is one of our leading voices on all things technologies He's an equity researcher and also wood bush securities and managing director over there Dan thanks so much for joining us here Let's start with I go back to last Friday We had Amazon What happened there in a big sell off in that stock And then we had Lyft and Uber today As you step back down I know you have this lens and think about tech What's the market telling us here Well I think it's a have and have nots in tech I mean you look at AMD Microsoft cybersecurity Apple outside the supply chain strong You look at some of the ecommerce work from home beneficiary that's been disaster And when we look at Liv I mean they're spending money like 1980 rockstars And ultimately that's something in this environment even though for good in terms of a demand rebound to get drivers back on street any sort of issue the stocks will get crushed So I think what we're seeing is it's a 5 vacation within tech enterprise cloud cyber semis strong everything else we're seeing weakness But I think there is kind of an extremity almost to the extent that some of these stocks are getting punished I mean off Amazon earnings I think 10% decline right off the bat That isn't a normal move even off of an earnings disappointment A similar story when you're looking at lift for example we're looking at those shares down 33% almost Uber down 8.8% as well These are really extreme moves and I don't necessarily think you can blame the rates picture So why these particular stocks why such an outsized move Look I think it is as nervous as an environment I mean forget March 2020 But it's as nervous as I've seen talking attack investors institutionally I'd say an 8 9 years Maybe because of the Rubik's Cube macro fed raising rates and what we're seeing on valuations And I think any crack in the armor any softness you're seeing what either is overreaction or these tax breaks And I think it just speaks to what I view as an oversold tactic in a complex macro but I believe it sets up for what over the next three 6 9 months is going to be a significant rebound tech for the high quality caffeine You're obviously just as massive white knuckle panic I feel like it also matters who's doing the selling right I love to quote vanda track who's really made a name for themselves in terms of retail flows And they said every time they're selling the selling is coming from institutional players the buying is coming from retail players What does that tell you about the significance of tech and portfolios right now Well I think it just a massive risk off at the same time So we could say everyone owned the same names from an institutional perspective and all of a sudden you had for the elevator at the same time And it just from a volume perspective That's why we're seeing some of these moves where there's Netflix and Amazon or lift today But again doing this 22 years I've seen the cycle before and that's what happens just in a panic macro where everyone kind of becomes an economist and they're trying to one up each other on rate hikes All right Dan I am a peloton user not as much as I should be but big Jen Sherman fan over here Is there any future or what is the future for some of those classic pandemic stocks like Zoom like pelican a peloton like DocuSign How do you think about those You just have to wait till they wash out Yeah I'm a have a corporate pen but do you want to Every stock has a price I mean if you work by 5% one they will buy 20 You're going to have buyers So I do believe it's getting washed out in terms of what we're seeing You will have M and a And ultimately some of these business models are not going away They were just going to go through a massive transformation You're seeing a wash out in terms of the stock There's names like a DocuSign which we downgraded this week I think that's one It's a work from home post or child valuation still rich in our opinion which why we went to a cell So you're still going to have price discovery here but that's what you're seeing right now is that a lot of these names are being squeezed become institutional even some retail investors won't touch them And that's why they've gone from the golden child to ultimately one that no one will touch with a ten foot pole but ultimately as that price discovery takes effect you'll see M and a and ultimately I think you'll see some evaluations get overextended on the sell off All right Dan good stuff as always again kind of a little bit of a recap there on some of the big moves we've seen from these tech companies that we always like to check in with Dan ice He can give us the 30,000 foot view as well as deep dive down deep into some of the numbers Dan.
WGN Radio
"bush securities" Discussed on WGN Radio
"Certification course The city is committing more than $31 million to the pilot using federal American rescue act money After the most violent weekend of the year in Chicago with more than 40 people shot eat fatally Second ward alderman brand Hopkins says the city hasn't done enough to prepare for the warmer weather We knew the first warm weekend whether it's late April early May it's always around the same time every year We were expecting this to happen We thought we had a plan and it didn't work The plan involved police intervening when fights broke out making arrests and using surveillance video to track people carrying weapons But Atkins says and I don't know if officers who were available to actually execute the plan well Chicago city council members today questioned the city's deputy mayor the city's chief financial officer and others say the leaders on plans to build the city's first casino A special committee is expected to choose one plan from three possible options 5th word older woman Leslie Harrison had questions about the proposals on union contracts and public safety I would also like to know because you mentioned about their customer base the demographics that they use I would like to know for each of them what those customer base demographics are Some of the council members have questioned why the Sadie didn't just pick a location for the casino before deciding on a bid from a developer The other locations including the include the south loop near soldier field on the and on the near northwest side of the city Russia unleashed a string of attacks today against rail and fuel installations deep inside Ukraine Far from the front lines of Moscow's new eastern offensive as Russia stopped warned against provoking World War three he also said the threat of a nuclear conflict quote should not be underestimated Ukraine's foreign minister is also urging UN secretary general Antonio Guterres depressed Russia for an evacuation of the besieged port of Mary opal when he visits Moscow tomorrow Billionaire Allah must reach an agreement today to buy Twitter for roughly $44 billion Musk has said he wants to take Twitter private because he thinks a plant form isn't living up to its potential as a place for free speech Technology sector analysts and Ives Web bush securities says a deal is a pretty big gamble Ultimately it's really trying to shake up social media I mean he feels like it's a fragmented platform He could significantly improve it But there's growth challenges ahead Twitter has been on the performing platform for the last decade And this is definitely must bet in 20% of the net worth on Twitter Definitely a risky move We'll get to see how that growth pitcher looks Twitter will it ask cordially earnings a little bit later this week A federal judge on Louisiana is temporarily blocking the Biden ministration from ending a Trump era restriction on the U.S. Mexico border Title 42 is being used to expedite deportations due to the COVID-19 pandemic President Biden had promised they will land the last week in May Republicans have called to keep the policy in place Nearly three quarters of young Americans believe there's a mental health crisis in the country According to a steady from the institute for politics at Harvard Kennedy school the study found 52% of people ages 18 to 29 Say that they've had depressing thoughts and almost a quarter of that figure considered hurting themselves WGN sports heard it here the Blackhawks beat Philadelphia three to one.
Bloomberg Radio New York
"bush securities" Discussed on Bloomberg Radio New York
"Was the date in 1983 when the movie was released in theaters I'm Brian shook And I'm Charlie palette That Bloomberg world headquarters Elon Musk is now expressing doubt about whether he will succeed with his $43 billion offer to buy Twitter in his first public comments about the blockbuster deal The billionaire entrepreneur said at a tet event in Vancouver quote I'm not sure that I will actually be able to acquire it Earlier today must made a controversial offer to buy Twitter Dan Ives is an analyst with web bush securities This is a Game of Thrones And obviously once the situation happened with Twitter and the board and must not joining this became hostile situation Dan Ives of Wedbush and speaking of stepping it up what about the pace and size of Federal Reserve rate increases this year Danielle dimartino booth is chief strategist at quill intelligence People forget that this is a midterm election year And if there's one unwritten rule at the fed it's that you don't appear overtly political during election year Danielle dimartino booth of quill intelligence The deputy chief of the International Monetary Fund says the world needs to be preparing for downside scenarios relating to COVID-19 Gita gopinath is the IMF's first deputy managing director and she spoke with Bloomberg radio We need to prepare for that And that's the part where I think more needs to be done We need another 15 billion in grants this year to get the right amount of preparation in place and then 10 billion every year before pandemic preparedness Gita gopinath of the International Monetary Fund Stocks declined today with the S&P down 54 a drop of 1.2% for the week the S&P was down 2.4% the Dow today down 113 down three tenths NASDAQ down 292 down 2.1% Global news 24 hours a day on air and on Bloomberg quicktake powered by more than 2700 journalists and analysts in more than 120 countries I'm Charlie palette This is Bloomberg.
Bloomberg Radio New York
"bush securities" Discussed on Bloomberg Radio New York
"The northeast braces for a powerful winter storm flight aware said so far over 4100 flights are canceled in the U.S. on Saturday Blizzard warnings have been issued from Maine to Washington D.C. The U.S. defense secretary doesn't believe Russian president Vladimir Putin has made a decision on invading neighboring Ukraine Lloyd Austin said a Russian invasion of Ukraine would threaten peace and security in Eastern Europe Now the situation on Ukraine's borders changing rapidly But as we look ahead there are a couple of things that we can count on This department will continue to provide President Biden with options to defend our national security interest in response to Russian actions Mitt Romney has tested positive for COVID-19 according to Romney's office the former presidential candidate contracted a breakthrough case and is currently asymptomatic This comes after several dozen lawmakers have contracted the virus in the past few weeks I'm Brian schuck And I'm Charlie pellet Bloomberg world headquarters Stocks came roaring back with the best day since June of 2020 It was a wild week stocks rallied at the end of a week that was marked by intense gyrations David leibowitz's global market strategist at JPMorgan asset management To me fundamentally higher volatility simply represents a broader distribution of outcomes And that's what I think the market is grappling with today The potential that the distribution bow comes as far wider than people were thinking at the end of 2021 David leave of its of JPMorgan as for the market backdrop and a Han is equity strategist at Wells Fargo securities Now I'm looking forward People are being more particular It's not just equity rally becoming with all this monitoring liquidity It's sort of a reversal we saw in 2021 Now we're going to tighten monetary policy We're going to take away accommodation So you're going to see a little bit of a weaker hand as we say Anaheim of Wells Fargo Apple lured dip buyers moving higher today after earnings Dan Ives as an analyst at wet bush securities He's got a buy rating on apple a $200 price target and praise for CEO Tim Cook It comes down to cook He's a tactician him and a team in terms of navigating the supply chain and making sure that demand is ultimately met And it just happens They came out with the iPhone 13 that continues to just globally be a massive seller best holiday season ever And China despite the fears that's the linchpin of growth Dan Ives of wet bush for the week the S&P was up 8 tenths of 1% The Dow up 1.3% NASDAQ flat on the week S&P today up one O 5 up 2.4% The Dow up 564 up 1.6% NASDAQ up 417 up 3.1% Global news 24 hours a day on air and on Bloomberg quicktake powered by more than 2700 journalists and analysts in more than 120 countries I'm Charlie pellet This is Bloomberg.
Bloomberg Radio New York
"bush securities" Discussed on Bloomberg Radio New York
"Bridge in Pittsburgh collapsed And we're going to rebuild that bridge Along with thousands of other bridges in Pennsylvania across the country because it's in our interest for our own safety sake And it generates commerce speaking in the steel city today He said roughly 45,000 bridges nationwide are in poor condition He said his bill will help build a better America The east coast is bracing for a fierce winter storm blizzard warning Seth bin issued from Maine to Washington D.C. This comes as more than 2300 flights within into or out of the U.S. have been axed for tomorrow The vast majority of COVID-19 cases across the nation are classic Akron That's what doctor Anthony Fauci said noting the new Akron variant or BA .2 doesn't appear to be any more severe He added he is cautiously optimistic that the overall COVID trend is starting to come down I'm Brian schuch And I'm Charlie pellet app Bloomberg world headquarters Stocks came roaring back with the best day since June of 2020 It was a wild week stocks rallied at the end of a week that was marked by intense gyrations David leibowitz is global market strategist at JPMorgan asset management To me fundamentally higher volatility simply represents a broader distribution of outcomes And that's what I think the market is grappling with today the potential that the distribution outcomes is far wider than people were thinking at the end of 2021 David leave of its of JPMorgan as for the market backdrop and a Han is equity strategist at Wells Fargo securities Now it's looking forward People are being more particular It's not just equity rally becoming with all this monitoring liquidity It's sort of a reversal we saw in 2021 Now we're going to tighten monetary policy We're going to take away accommodation So you're going to see a little bit of a weaker hand as we say And a Han of Wells Fargo Apple lured dip buyers moving higher today after earnings Dan Ives is an analyst at wet bush securities He's got a buy rating on apple a $200 price target and praise for CEO Tim Cook It comes down to cook He's a tactician him and a team in terms of navigating the supply chain and making sure that demand is ultimately met And it just happens They came out with iPhone 13 that continues to just globally be a massive sour best holiday season ever And China despite the fears that's the linchpin of growth Dan Ives of wet bush for the week the S&P was up 8 tenths of 1% The Dow up 1.3% NASDAQ flat on the week S&P today up one O 5 up 2.4% the Dow up 564 up 1.6% NASDAQ up 417 up 3.1% Global news 24 hours a day on air and on Bloomberg quick take powered by more than 2700 journalists and analysts in more than 120 countries I'm Charlie paddock This is Bloomberg.
Bloomberg Radio New York
"bush securities" Discussed on Bloomberg Radio New York
"Miller on Bloomberg radio All right coming up in this hour We're going to take a look at the consumer We had some better consumer confidence numbers come out this morning We'll break those down with Lin franc of director of economic indicators and surveys at the conference board Plus we're going to talk to one of the biggest tech bulls on Wall Street particularly on Tesla that's Dan Ives managing director senior equity analyst at wood bush security shout out Always a good discussion But first let's go to great Jared and get a Bloomberg business flash great While stocks have set more all time highs fall European equities did approach records as well Corporate earnings did help boost sentiment lingering concerns about inflation and growth on inflation Stephen major HSBC tells Bloomberg he does not think that inflation will be around for the long haul I think it's very unlikely that the rate hike expectations are going to be delivered And I expect that some stage in the first half of 2022 that will start to see evidence that the inflation isn't as sticky as people have been fearing And maybe it starts to subside down towards the Central Bank targets towards the end of the year and into 2023 S&P is down excuse me is up 6 tenths of a percent of 30 The Dow is up four tenths of a percent up a 128 and the NASDAQ up 9 tenths of a percent of a 135 to ten year is down two 30 seconds The yield 1.63% West Texas intermediate crudes up 6 tenths of a percent of 84 26 a barrel Comics gold is down 1.1% at 1787 40 an ounce of valerian one 1423 The Euro dollar 1595 in the British pound developer 37 92 sales of new U.S. homes increased in September to the highest level in 6 months underscoring solid underlying demand and meaning that it's going to be really hard for Matt Miller to find what he's looking for That's a Bloomberg business flash Bloomberg markets continues now Paul Sweeney and the house hunting Matt Miller.
Bloomberg Markets
Apple's stock keeps rising
"Let's talk tactics and we do that we do with Dan I've seen what best of what what bush securities dance thanks so much for joining us technology again has been the big big driver of this move up in equity markets this year let's start with apple you know it's just a fantastic story up sixty five percent year to date it's just amazing the big issue I have is this company as he we've talked about before is really make that big pivot from a phone reliant company to a services company but it that's a lot of risk in that story there but it seems like the markets giving apple more than the benefit of the doubt yeah and you're not alone and I think when I look at apple is the one two punch the rock of Gibraltar continues to be I phone and I think what you're seeing here are for the weapons track in fifteen to twenty percent ahead expectations it's all about the install these and now it's about monetizing that your services and that's part of the re reading that we're seeing with apple and that's why right now the bears continue to be in hibernation mode in terms what's happened with stock okay so you see a lot more positivity ahead yet woman ever we see a trade headlined that's negative the tech stocks of the ones that sell off first what if we do not get a trade truce what how much does that affect your outlook yeah that's fifteen dollars per share in terms of right now what I you as the over all over hanging from a tree it on apple it's the poster child in terms of the US China trade war but it's about a fifteen dollar overhang right now so I think if we do not get any sort of deal that sort of how I use a race the into the stock so Dan at that's go back to the old you know tried and true phone business for apple give us a sense of how big five G. could be to apple we hear so much now across so many different technology verticals about five G. and how it's gonna be the next big thing in tact what does it mean for the likes of apple in my opinion the best five G. clay is apple because when you look inside you and how their position going the twenty twenty think about nine hundred million consumers right now in terms of the installed base we think about four hundred million of those are going to upgrade of next twelve to eighteen months the first parts can be after eleven but five G. I believe you really can be a super cycle for for apple that's what I used to use this is a stock I think it's gonna have a three in front of it going into next year did you walk through that a little bit more how five G. will sort of super charge apple shares yeah a lot of it is really the applications in the infrastructure in the five he really and for the average consumer especially within the installed base to get access to that five G. you're gonna need to get a five G. or we think next year based on our shacks throughout China and Taiwan is gonna be four five he thought referred a consumer they're gonna upgrade on five G. to apple and that would that's really feeling even in a renaissance of grown yeah that's the highway the highway to five G. is a smartphone I'm struggling to understand five G. applications is being so incredibly different I mean basically is a robot gonna get beamed into my home and and and make me breakfast I mean how how different is this going to be from foreign three G. it yeah I think it's a paradigm change in terms of five G. I think the best thing about is more smart cities autonomous capabilities I'm talking about a lot of technology that today are more on the white board over the next five ten years it's really me five G. enabled and that's why when you look at the leader in that it dapple OB the Sam some can be used to be there as well as the Chinese consumers but that's why I thought you still important in terms were apple sit in the stock okay in one part of the services story for apple that's less clear to me is there video strategy their TV strategy another yeah apple TV plus centers of some shows there but to me that's not it I mean that that's not gonna cause me to switch her to add to my Netflix and to my Disney plus what do you really think is the play for apple in the video business yeah I think the first part of the play is distribution they want to give the distribution platform for screen that's the first step and then I think if you look at it right now that's why the bundling so important terms of the new iPhone in terms on the video side right now they lack content but I do not we do that we'll do you like that in a year from now I think they're going to dedicate six billion per year and I still think they acquire more but content play in MGM Missoni aligned gate over the next year who's the big loser from five G. who's not gonna keep up well what I think in terms of the big loser right now in terms of five G. this is really going to be an apple Sam song I think if you look so far I think Sam song bumble did a bit in terms of where the war versus apple and I think it's not going to be a winner take all but I think right now stands has been a bit disappointing on that side decide and when you look at five G. I think right now it's going to be a lot of winners the question is rise in eighteen T. which benefits from five G. more and I think that's why the next six to twelve months you're really gonna determine from strategically who's best position but right now I can can you think apple was one of the reasons terms when it comes to five P. Dan I've thank you so much for being with us Dan I've director of equity right research at Wedbush