Speaker 1: From Mahart.
Speaker 2: We're Innovation, Money and Power Collie in Silicon Valley, NBN.
Speaker 2: This is Bloomberg Technology with Caroline Hyde and Ed Ludlow.
Speaker 3: I'm Caroline Heidel, Bloomberg's Well's I caught us in New
Speaker 3: York and Amed Ludlow here in Cupertino, Apple Campus the
Speaker 3: Steve Jobs Theater behind me.
Speaker 4: This carr is a special Bloomberg Technology and everything iPhone
Speaker 4: at Apple's wonder last event and.
Speaker 3: Everything change of cords and everything focus on AirPods on
Speaker 3: the watch as well. We have got so much to
Speaker 3: drive forward as well as some of those headwinds when
Speaker 3: it comes to China, when it comes to supply chain,
Speaker 3: when it comes to those all important chips that I
Speaker 3: know you love so much. And we've got the perfect
Speaker 3: person to be setting us up into all of this.
Speaker 3: Bloomberg's Tom Charles joins us for really ready what we
Speaker 3: anticipate Margham and just comes out with really a fully
Speaker 3: fledged view of what we're going to be delivered. The
Speaker 3: point is how much importance this is to an investor
Speaker 3: based Tom.
Speaker 5: Yeah, this is a huge moment for Apple, this company.
Speaker 5: There's been a lot of anticipation for this event. But
Speaker 5: this year it's particularly high, and that's for a couple
Speaker 5: of reasons. One, we expect this to be a major
Speaker 5: upgrade in a lot of areas, camera chip. This is
Speaker 5: Apple's most important device, and they are going for the
Speaker 5: gusto here.
Speaker 2: There is a lot of upgrades, there's a lot of changes.
Speaker 2: This is a major one.
Speaker 5: This is not incremental. So in that regard, this is
Speaker 5: hugely important. And remember the backdrop here is a decline
Speaker 5: in global smartphone demand and that's something that Apple is
Speaker 5: really having to fight against.
Speaker 3: I think we're having a few technical issues at the moment, Tom,
Speaker 3: but I just want to drive it home with you
Speaker 3: a little bit more in terms of what we understand
Speaker 3: the power of the iPhone. We understand the two hundred
Speaker 3: billion dollars it brings in terms of revenue per year.
Speaker 3: I'm interested in, ultimately, with a price point that may
Speaker 3: well rise, how much can they really ensure a consumer
Speaker 3: will go there? Tom Ah, I think we've lost Tom
Speaker 3: Giles unfortunately. But Ed, I think at the moment in Kubatino,
Speaker 3: there's going to be a lot of excitement, a lot
Speaker 3: of people waiting with baited breath for the upgrades, and
Speaker 3: we've got a perfect guest to be sort of driving
Speaker 3: that conversation forward.
Speaker 4: Yeah, and hey, I'll remind our audience there's a reason
Speaker 4: Apple pre records this presentation and then plays it out
Speaker 4: later to get rid of those technical issues. Absolutely delighted
Speaker 4: to be joined here at Apple campus by a net
Speaker 4: Zimmerman Gartner analyst. And you know, atte we've gone through
Speaker 4: all the specs we're expecting, lots of focus on the
Speaker 4: higher end pro and promacs, updated silicon, updated camera.
Speaker 6: For you, what is most important to return Apple to growth?
Speaker 1: Yeah, So I mean at the moment, of course, is
Speaker 1: still a little bit of speculation what we will see.
Speaker 1: And I think there's going to be some kind of
Speaker 1: feature that we haven't heard about yet because it's called wonderlust, right,
Speaker 1: so that the event so wonder or emerging in the
Speaker 1: word wonder with wanderlust, which means literally translated to be
Speaker 1: the desire to travel. And I think we all have
Speaker 1: this desire to travel since the pandemic, and that we
Speaker 1: have most of it behind us. So I think there's
Speaker 1: going to be something around, you know, certain sensors that
Speaker 1: will make workout and traveling and just moving around even
Speaker 1: more precise and more accurate and more yeah, engaging basically,
Speaker 1: So I think there's there's going to be a lot
Speaker 1: of around new precise sensors and these kind of things.
Speaker 4: The event is underway and in the early stages they're
Speaker 4: sharing video with people using older generation of iPhone, older
Speaker 4: generation of the watch.
Speaker 6: In the real world, the iPhone seems to be everything.
Speaker 4: Just explain to or alreadience how important the refresh cycle
Speaker 4: is for Apple every new generation of iPhone that they release.
Speaker 1: Yeah, So Apple targets obviously different user groups. So one
Speaker 1: user group is the early adopters that usually upgrade their
Speaker 1: phone maybe every two years and sometimes even every year.
Speaker 1: So that is usually the group that they target with
Speaker 1: their very high end devices. But then you also have
Speaker 1: a very loyal user group that is more in the
Speaker 1: mid range and maybe more on the budget side that
Speaker 1: sometimes you know, they upgrade only after five years, you know,
Speaker 1: as long as the you know, you can upgrade the
Speaker 1: operating system and and I think especially it's gonna be
Speaker 1: or this event is usually around the higher end in
Speaker 1: the mid range type of devices and the users and
Speaker 1: for for those users that maybe wait a little bit
Speaker 1: longer for for upgrading. Apple also has some some interesting
Speaker 1: price offers, usually with with those you know that's come
Speaker 1: or that have been introduced earlier in the year so
Speaker 1: or last year maybe even so all of this will
Speaker 1: be important. It's the whole thing about Apple targeting these
Speaker 1: different user groups, but also really paying attention to these
Speaker 1: different segments and try to make them happy.
Speaker 4: Yes, you are watching Bloomberg Technology special coverage of Apple's
Speaker 4: wonder last event. We're expecting iPhone fifteen and net zimmermun
Speaker 4: Gardner analyst with me and in the early stages the
Speaker 4: presentation started a couple of minutes in. They've been talking
Speaker 4: about how Apple devices help consumers and users in medical
Speaker 4: emergency situations. At the beginning of our conversation you mentioned
Speaker 4: censor technology. We know that there are some updates to
Speaker 4: watch coming, but talk about that healthcare segment and indeed
Speaker 4: the emergency case scenario with Apple.
Speaker 2: Yeah.
Speaker 1: So at WWDC we saw some really interesting developments with
Speaker 1: iOS and and the ability to you know, there to
Speaker 1: to support people with their physical health but also with
Speaker 1: their mental health. Right and and so we're we're seeing
Speaker 1: Apple expanding significantly into different areas. So it's yeah, it's
Speaker 1: it's about our behavior, our health, our mental health or
Speaker 1: physical health. That will I think, you know, as part
Speaker 1: of our everyday life and we need to embrace it
Speaker 1: and we need to or we can use specifically the
Speaker 1: Apple devices to support us in our journey for health.
Speaker 4: I can confirm that Tim Cook is now speaking on
Speaker 4: stage and he said that he's going to be talking
Speaker 4: about Apple Watch and iPhone not really surprising. One thing
Speaker 4: that's going to impact consumers everywhere is the move to USBC.
Speaker 4: It's a European Union mandate deadline end of twenty twenty four.
Speaker 4: What effect will the hat for Apple switching to USBC.
Speaker 6: It has a big.
Speaker 1: Effect on Apple because they obviously had to make technical
Speaker 1: and physical changes to the design and to you know,
Speaker 1: basically to the entire roadmap of devices that will be coming.
Speaker 1: And there will be more on top of that will
Speaker 1: be made or changes will be made because the use
Speaker 1: also looking for better repair ability of devices, so on
Speaker 1: Apple has to invest in new designs to make those
Speaker 1: devices more repair able and also make mix spare parts available,
Speaker 1: make it affordable available to users so you can do
Speaker 1: your do your own repair if you want these kind
Speaker 1: of things. And but that impacts Apple and the entire
Speaker 1: industry really Tim Cook is.
Speaker 4: Using these early stages to talk about WWDC Dune, the
Speaker 4: M two chip Ultra chip that went into the fifteen
Speaker 4: inch MacBook Air, Mac Studio Mac Pro, basically saying the
Speaker 4: feedback in response has been fantastic. We will see if
Speaker 4: the feedback or response is as good for this next
Speaker 4: generation of.
Speaker 6: iPhone, which is what we will.
Speaker 4: Focus on most net Zimmermum Gartner. And it's so good
Speaker 4: to have you here in real time during this Apple
Speaker 4: Wonderlust event.
Speaker 6: Caroline back to you in New York.
Speaker 3: I know, so great to have the on the feeling
Speaker 3: sense of this moment. And actually we're hearing from Tim
Speaker 3: Cook as well, saying, look, Apple is still on track
Speaker 3: to ship its Vision Pro in early twenty twenty four.
Speaker 3: Now we are still anticipating the announcements regarding the Watch,
Speaker 3: the AirPods, the new ways in which are going to
Speaker 3: be charging them through the USB, and indeed what we're
Speaker 3: waiting on the iPhone fifteen range. But let's go back
Speaker 3: to Tom Giles, of course, and Tom, this is about
Speaker 3: consumer or, but it's also about investor reality, and at
Speaker 3: this moment they've got plenty of headwinds. We're worried about
Speaker 3: Chinese consumer, we're worried about supply chain as well. How
Speaker 3: do you think they managed to tackle or offset that
Speaker 3: narrative at this moment.
Speaker 5: Yeah, and don't forget they've also got Huawei in the mix,
Speaker 5: Juahwei out with a new phone with a new operating
Speaker 5: system and gathering a lot of momentum behind. So there's
Speaker 5: a lot that they have to do here today to
Speaker 5: prove that this is a really special upgrade. As we
Speaker 5: were talking about earlier, this isn't your average instance where
Speaker 5: they're adding a few things. They're iterating around the edges.
Speaker 5: There are some substantial changes. If you talk to Mark German,
Speaker 5: he will tell you that this is a major set
Speaker 5: of upgrades, and that's what Apple is doing to really
Speaker 5: take the attention off the competitive threat, the pressure from
Speaker 5: the Chinese government on using the iPhone in that country,
Speaker 5: the pressure from.
Speaker 2: Huawei, all of it.
Speaker 5: This is Tim Cook's moment to take your attention off
Speaker 5: of that and show once again that we're adding really
Speaker 5: special features to the iPhone. The faster chip again, this
Speaker 5: telephoto lens with the camera that's letting you take these
Speaker 5: up close, these up close photos.
Speaker 2: With the iPhone, things you can't do with other devices.
Speaker 5: This is his moment to remind people we're doing things
Speaker 5: that are really special with this camera, and it's.
Speaker 2: Really important because it makes up half of the company's revenue.
Speaker 3: And to be fair like, analysts still seem convinced by
Speaker 3: all of that. At the moment, Tom I'm looking at
Speaker 3: thirty five by ratings. That's two thirds of all the
Speaker 3: ans out there rate this stock a buy. And in fact,
Speaker 3: there's still about fifteen percent upside potential if you're looking
Speaker 3: at a price target consensus of two hundred and four.
Speaker 2: But we have had this sort of knock.
Speaker 3: To the overall market capitalization of Apple over the last
Speaker 3: few training days. And ultimately, how important is the fact
Speaker 3: that they can nudge us up on a price point.
Speaker 2: How resilient does the US.
Speaker 3: Consumer need to be at this moment?
Speaker 2: Yeah, definitely.
Speaker 5: I mean Apple has to walk a really fine line
Speaker 5: right with the way they price this device. And that's
Speaker 5: why they've got multiple devices that are going to be
Speaker 5: getting upgrades today. And exactly where are they going to
Speaker 5: tinker with pricing? How much do they add those high
Speaker 5: end features.
Speaker 2: To the lower end devices? All of those things.
Speaker 5: This is the kind of thing that Apple spends a
Speaker 5: lot of time thinking about very strategically, and they do.
Speaker 5: They tend to be very smart about it, not loading
Speaker 5: too much into the lower end devices so that they
Speaker 5: can still sell them at a little bit of a
Speaker 5: discount to the higher end devices. How do they keep
Speaker 5: those margins going in the right direction, and if you
Speaker 5: look at their gross margins, they're going in the right direction.
Speaker 5: So how does Apple do this, particularly at a time
Speaker 5: when you're seeing overall demand for smartphones globally dropping off.
Speaker 5: Q two was a really tough quarter, both for the
Speaker 5: iOS that's Apple and Android that's the Google operating system
Speaker 5: that's in so many global devices. But something that Apple
Speaker 5: did in the second quarter was they weathered the storm
Speaker 5: better than Android. And that's what Tim Cook really wants
Speaker 5: to see Apple continue to do going forward.
Speaker 3: Well, we'll have so much more from Tim Cook, from you, Tom,
Speaker 3: We thank you so much all regarding this big unveil
Speaker 3: where we understand that it is official. The S nine
Speaker 3: of the watch has arrived, and indeed it's got an
Speaker 3: S nine chips, so we're going to have some they
Speaker 3: call major performance improvements overall. We understand that the CEO,
Speaker 3: Jeff Williams is on the stage at the moment, introducing
Speaker 3: this next generation of the Apple Watch, and it's scouting
Speaker 3: an improved performance overall, including the new chip and calling
Speaker 3: it the most powerful Apple Watch chip to date. Now
Speaker 3: we're going to be talking so much about the intricacies
Speaker 3: of this announcement with Ray Wang. He's a CEO and
Speaker 3: principle analyst of Constellation Research. His take what is being
Speaker 3: announced at the Apple event is over in Kubertino. That's
Speaker 3: where r Ed Ludlow is too. This is Blue meg technology,
Speaker 3: all right.
Speaker 4: The latest headlines coming out of this Apple Wonderlust event
Speaker 4: center on the next generation Apple Watch, the S nine
Speaker 4: or nine series, with an updated piece of Silicon S
Speaker 4: nine chip, thirty percent more powerful GPU CARO. In terms
Speaker 4: of some of the things that this manifests itself with
Speaker 4: dictation twenty five percent more accurate, eighteen hours of battery life,
Speaker 4: two ways of looking at it. That's all day battery life,
Speaker 4: although Mark German posting in the Bloomberg Top Live blog
Speaker 4: that is basically the same as prior generations. Also, the
Speaker 4: ability to engage with Siri directly to the watch without
Speaker 4: latency in a more secure method.
Speaker 6: That's what they're leaning on with this latest watch.
Speaker 3: Yeah, more effective use and point. Also, integration with a
Speaker 3: home pod is an interesting one as well. But overall
Speaker 3: new gesture control being integrated, they've got to be pushing
Speaker 3: really the way in which they're standing out from a
Speaker 3: crowded space when it comes to connected devices, the way
Speaker 3: in which we measure our healthhead because well many have
Speaker 3: been getting into the rings the watches of other variations too.
Speaker 4: Yeah, something really cool they've just announced with this latest
Speaker 4: generation Watch series nine has gesture control, So with a
Speaker 4: one handed gesture you can engage with the watch called
Speaker 4: it's called double tap.
Speaker 6: So I don't know how needle.
Speaker 4: Moving that is, right, the ability to waive at one's
Speaker 4: wrists and watch, but we will find out because there
Speaker 4: is somebody who definitely has a stronger perspective on this
Speaker 4: than Ui, and that is Ray Wang, Consolation CEO and
Speaker 4: principal analysts.
Speaker 6: Good to see you here in Cupatino.
Speaker 4: Based on what I've just reported for you on the
Speaker 4: Apple Watch Series nine, what do you make of that?
Speaker 6: As quick reaction, Yeah, welcome to the hometown.
Speaker 7: Like corup Patino, I think the really important thing that's
Speaker 7: going on here is the important piece that they're going
Speaker 7: from silicon to chip, and they're using their silicon to
Speaker 7: manage the batter life, using the silicon to handle the
Speaker 7: AI capabilities, and all those are really important, especially when
Speaker 7: you think about what Apple's known for. They have full
Speaker 7: control of their ecosystem and that starts with the silicon,
Speaker 7: and so they're showcasing that on the watch, and of
Speaker 7: course I think we're all waiting to see if there
Speaker 7: are other things that are going to be monitored, right,
Speaker 7: other health indicators that I think would drive other people
Speaker 7: to go to the Ultra and of course to the
Speaker 7: Series nine watch.
Speaker 4: Yeah, the expectation is that we would have two size
Speaker 4: variants of Series nine, one new variant of the Ultra.
Speaker 4: These are the early exchanges of this event. Apple Wonderlus
Speaker 4: is underway behind us in the Steve Jobs Theater, and
Speaker 4: you're right, we're waiting for four variants of the iPhone fifteen.
Speaker 4: How important is it that the hardware upgrades on the
Speaker 4: pro side are substantive to drive an upgrade cycle.
Speaker 7: Well, when we look at the entire upgrade cycle, we're
Speaker 7: talking about a billion iPhones that need to get five
Speaker 7: G right, and it's been happening over the next three years,
Speaker 7: and so as we're moving those in that supercycle. The
Speaker 7: big piece is really is a tolefootal lens potentially enough
Speaker 7: to get you there. The USBC got to do it
Speaker 7: because there's a regulatory requirement. Is it also going to
Speaker 7: be something around? Is it a battery life?
Speaker 2: Is this a feature?
Speaker 7: Is it a service that's going to take people to
Speaker 7: that next level of using the iPhone? But the chips
Speaker 7: make a big difference. The battery life makes a big difference,
Speaker 7: and potentially a forty eight megapixel camera may make that difference.
Speaker 4: I want to go back to the watch for just
Speaker 4: a second. Some other information. Is the series nine, let's
Speaker 4: call it the base model has double the brightness two
Speaker 4: thousand nits. That goes back to the last generation of Ultra.
Speaker 4: What is the strategy do you see there from Apple?
Speaker 4: They're basically taking last year's tech and putting it into
Speaker 4: this year's base models.
Speaker 6: Yeah, we're seeing things.
Speaker 7: If you want the Pro or the Ultra, you want
Speaker 7: the top level, you'll pay a little bit more for
Speaker 7: the new chip, and then you're going to see that
Speaker 7: gradation come into different markets. Let's take India for example,
Speaker 7: right the big talk about India. You might have different
Speaker 7: price points given where the demographics and the socioeconomics are,
Speaker 7: you'll have a different price point in the UK, of course,
Speaker 7: and you have a different price point if you're in
Speaker 7: the Middle East.
Speaker 1: Right.
Speaker 7: Remember, Apple is at the heart a luxury brand, and
Speaker 7: because it's a luxury brand, that's what's driving that capability.
Speaker 4: Right now, onstage Apple, we're talking about their environmental goals
Speaker 4: and the progress they've made and sustainability and materials.
Speaker 6: Is that an important factor for you?
Speaker 2: It's important for.
Speaker 7: Me, especially when we think about circular economy and we
Speaker 7: think about how much energy is required to create a device,
Speaker 7: how you bring that back into it. Apple's been a leader,
Speaker 7: especially in sustainability and some of those ESJ goles, and
Speaker 7: it goes from not not just you know, the battery,
Speaker 7: but it's also the materials and the recycling process. I've
Speaker 7: probably turned in and maybe you as well turned in
Speaker 7: a couple of phones in the fact.
Speaker 1: To do that.
Speaker 4: So Okay, forget what we've reported and what we think
Speaker 4: is coming. What do you want to see in these
Speaker 4: higher end iPhone fifteen Pro and promacs.
Speaker 7: Yeah, I think people are looking for better features, They're
Speaker 7: looking for experiences. For example, the ability to tie these
Speaker 7: to more devices. They're looking for the eventual integration between
Speaker 7: mac os iOS and watch os and then of course
Speaker 7: you know they're trying to figure out, hey, maybe there's
Speaker 7: a sneak peek into vision Pro and what's going to
Speaker 7: take us into Vision Pro as the replacement for the
Speaker 7: Mac Like that integration has always been an Apple fans dream,
Speaker 7: right to be able to bring all those things together.
Speaker 4: Ray Wang, Constellation Research CEO and principle analyst, joining us
Speaker 4: in real time Caroline here in Kubatino.
Speaker 6: The Apple event is underway and.
Speaker 3: Is underway, and there's a focus on the environment, on sustainability,
Speaker 3: and we understand the latest headline is it's going to
Speaker 3: be phasing out its lever from its iPhone cases and
Speaker 3: many had taken that queue from well moves over at
Speaker 3: ames of Late. Coming up, we're going to have so
Speaker 3: much more coming for you the analysis from Apple. Thomas
Speaker 3: and he's vice president in principal analyst over at Forester
Speaker 3: Research is going to be joining the show live from
Speaker 3: Cupertino from New York.
Speaker 6: We've got it all covered.
Speaker 3: This is blue bag technology, and so we have the
Speaker 3: news coming from the Apple event in Coupatino. Thick and fast.
Speaker 3: Of course, I Watch Series nine going to be more powerful, swifter,
Speaker 3: We're going to be having the ability to well hand gesture,
Speaker 3: to be able to waveh fingers at it. Double tap
Speaker 3: is what it's called intraoperability with your home pod as well.
Speaker 3: Really this is about being faster and more powerful. We're
Speaker 3: also seeing some more nuanced announcements around perhaps the wind
Speaker 3: down of any leather at the moment when it comes
Speaker 3: to being used in iPhone cases, So a push on sustainability.
Speaker 3: But we all await the iPhone fifteen and the array
Speaker 3: that we get there Forester Research Vice president of principal
Speaker 3: anistad analyst Thomas Fusson is with us and Thomas, you
Speaker 3: were expecting perhaps an ultra version of the Watch. What
Speaker 3: more do you anticipate from the phone lineup and is
Speaker 3: it going to be enough?
Speaker 8: Well, I'd expect significant incremental innovation and improvement on the
Speaker 8: lineup of the especially on the iPhone and the iPhone pros.
Speaker 8: We've heard right now about some of the sustainability efforts.
Speaker 8: I think what would be very disruptive is to hear
Speaker 8: more of a device as a service offering where you
Speaker 8: have a bundle of rware content and some circularity services recurability.
Speaker 8: That would be a great step. I'm not sure we're
Speaker 8: going to hear that tonight and forratunity, so is it
Speaker 8: going to be enough? I think Apple will maintain its
Speaker 8: leadership when it comes to smartphone innovation. The bigger question,
Speaker 8: I think, given the economy context and we don't know yet,
Speaker 8: is going to be around.
Speaker 3: Pricing precisely, and many anticipating that prices will rise, We're
Speaker 3: going to boost the average selling price. We're still focusing
Speaker 3: at the moment in ten on the environmental impact. Lisa Jackson,
Speaker 3: the EPA chief, saying about how by twenty thirty, Apple
Speaker 3: devices will be net zero in impact. That was a
Speaker 3: Tim Cook ad as well. I'm interested in really the
Speaker 3: Huawei and Chinese perspective here as well, because there's been
Speaker 3: a lot of headwinds on Apple stock of late. Do
Speaker 3: you think that the innovation is enough for Apple to
Speaker 3: fight off the homegrown innovation of a Huawei.
Speaker 6: Well, I think so.
Speaker 8: From a pure innovation standpoint. I think the bigger question
Speaker 8: is about the geopolitical context in China and the fact
Speaker 8: that the iPhone has been banned to potentially dozens of
Speaker 8: millions of employees working in public, state employees or for
Speaker 8: the government in China. What will be the consumer sentiment
Speaker 8: of Chinese consumers is a very big unknown, given the
Speaker 8: fact that the Greater China represents about a fifth of
Speaker 8: Apple's revenue, so that might be another reason for a
Speaker 8: potential price up tag.
Speaker 6: In other use, we keep.
Speaker 3: An eye on the price point and indeed, what we're
Speaker 3: going to hear when it comes to the new phones
Speaker 3: for us to research Vice president and principle analyst Thomas
Speaker 3: Housson joining us on what we've so far been digesting,
Speaker 3: and it is a focus on the environment. Lisa Jackson
Speaker 3: I misspoke earlier, of course, was a former EPA chief
Speaker 3: ed Apple's head of environment now really outlining the efforts
Speaker 3: and Tim cook saying by twenty thirty Apple devices will
Speaker 3: be and having a net zero impact. But give us
Speaker 3: the nitty gritty on what we got from at least
Speaker 3: connected devices and watches in particular, because many a broceed
Speaker 3: for more.
Speaker 6: Yeah.
Speaker 4: Look, I think we've probably got a more substantive upgrade
Speaker 4: to the Series nine watch, the lower base model than
Speaker 4: we thought we'd get. New Silicon S nine chip thirty
Speaker 4: percent breaded performance on the GPU side, but You're right though,
Speaker 4: that real focus on the environmental side of this story.
Speaker 4: If you take Series nine is an example, north of
Speaker 4: eighty percent of it is made of recycled materials. That
Speaker 4: includes some of the core metals like tungsten and copper,
Speaker 4: you know, and the pledge from Tim Kok is that
Speaker 4: by twenty thirty all devices will have net zero.
Speaker 6: So it's a commitment.
Speaker 4: But as our guests have made the point this whole show,
Speaker 4: it's about the supply chain and how they're adjusting to that.
Speaker 3: Well, we'll see how that titanium comes into the mix
Speaker 3: in a moment. That's what for sorts anticipated the lineup
Speaker 3: of phones that does have this special edition of Bloueberg
Speaker 3: Technology Live from Coopertino and from New York.
Speaker 2: This is Bloomberg