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Speaker 1: News when you want it With Bloomberg News Now, I'm

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Speaker 1: Doug Chrisner. We begin with earnings after the bell. Apple

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Speaker 1: reported revenue in Greater China fell well short of analyst

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Speaker 1: estimates in the latest quarter, a drop of three point

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Speaker 1: six percent to fourteen and a half billion dollars. Now,

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Speaker 1: Apple has been facing increased competition from local smartphone providers

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Speaker 1: in China, and the company has also struggled to offer

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Speaker 1: AI features in the country. Even with the disappointing sales

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Speaker 1: in China, Apple's overall revenue growth was eight percent in

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Speaker 1: the latest quarter, and we got reaction from Giluria, head

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Speaker 1: of Technology research at DA Davidson.

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Speaker 2: If we can count on anything China to contribute to Apple,

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Speaker 2: it's volatility the quarter to quarter results. They're very so

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Speaker 2: widely and often the checks that we hear ahead of

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Speaker 2: a quarter are directionally wrong or completely wrong, as is

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Speaker 2: the case this time. Some of that has to do

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Speaker 2: with some selling upfront last quarter. They had better activity

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Speaker 2: last quarter. They probably sold into the channel more than

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Speaker 2: the market required, which is why we're seeing it down

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Speaker 2: this quarter.

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Speaker 1: Gai Luria there from DA Davidson. Now, Apple also gave

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Speaker 1: an upbeat forecast for the holiday season, saying revenue will

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Speaker 1: rise between ten and twelve percent in the current quarter.

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Speaker 1: Shares and Apple were up more than four percent in

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Speaker 1: late US trading. We also heard from Amazon the company's

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Speaker 1: cloud unit posted its strongest growth rate in nearly three years.

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Speaker 1: Amazon Web Services had revenue in the latest quarter of

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Speaker 1: thirty three billion dollars. That's an increase of twenty percent

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Speaker 1: from the prior year. We got reaction from Scott Debit,

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Speaker 1: equity research analyst at Webbush Securities.

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Speaker 3: The AWS numbers in the overall numbers for Amazon here,

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Speaker 3: this is the cleanest quarter this company's had in some time.

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Speaker 3: There's a few normalizations in the quarter relating to the

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Speaker 3: operating in company that were one tine items, so when

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Speaker 3: you adjust for that, they actually beat on operating income.

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Speaker 3: They moderately beat on revenue. But the most important and

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Speaker 3: was the twenty percent AWS growth because now you're going

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Speaker 3: to start getting a bigger contribution from Anthropic in the

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Speaker 3: ABS business as well, So there's kind of an upport

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Speaker 3: trajectory in terms of growth rate going into twenty twenty six.

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Speaker 1: That is Scott Devitt from Webbush Security. Shares and Amazon

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Speaker 1: are up fourteen percent in late US trading. Netflix is

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Speaker 1: reportedly exploring a bid for Warner Brothers Discovery studio and

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Speaker 1: streaming business. Reuters is reporting that Netflix has been granted

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Speaker 1: access to the so called data room that contains the

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Speaker 1: financial details necessary to make an offer for the company.

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Speaker 1: It's day thirty of the government shutdown, and congressional lawmakers

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Speaker 1: are no closer to negotiating a bill to reopen the government.

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Speaker 1: Funding for food assistance programs is set to expire this week. Meantime,

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Speaker 1: Democrats say they want to have conversations about extending Affordable

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Speaker 1: Care Act subsidies. Republicans say they won't have those conversations

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Speaker 1: until the government is reopened. Now, the shutdown has forced

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Speaker 1: air traffic controllers and TSA agents to work without pay,

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Speaker 1: and that has led to staff shortages and flight disruptions.

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Speaker 1: Here is Vice President JD. Vance.

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Speaker 4: All we need to end the craziness, to pay the

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Speaker 4: air traffic controllers, to pay the TSA agents, to pay

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Speaker 4: the pilots, to make sure that food stamp benefits continue

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Speaker 4: to go out to the American people who need them.

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Speaker 4: All we need is five reasonable Democrats to join three

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Speaker 4: moderate Democrats and fifty two Republicans to reopen the government.

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Speaker 1: Vice President JD Vance there the US and China have

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Speaker 1: reached a one year truce in their trade war. The

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Speaker 1: US has cut the fentanyl tariff and extended the existing

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Speaker 1: truthces on reciprocal tariffs from the China side. The country

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Speaker 1: has started buying US soybeans again. Treasury Secretary Scott Bessant

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Speaker 1: weighed in on the US China trade relationship.

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Speaker 5: My guess is a year from now will be back

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Speaker 5: to the table and we'll get another delay, another role

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Speaker 5: because whatever no one misses is the Chinese have rarers,

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Speaker 5: but we have President Trump threat on tariffs.

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Speaker 1: US Treasury Secretary Scott besson speaking earlier to Fox News,

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Speaker 1: he went on to say the US has a chance

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Speaker 1: to build up its rare earth industry. Goldman Sachs CEO

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Speaker 1: David Solomon says the level of US debt risk a

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Speaker 1: reckoning for the American economy if the pace of growth

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Speaker 1: does not improve. Even so, Solomon does not see the

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Speaker 1: US moving into a recession.

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Speaker 6: We've got a big, diverse economy. It's in pretty good

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Speaker 6: shape at the moment. There are things we can't see

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Speaker 6: that could set it off. But I think the chance

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Speaker 6: of a recession and the near term is low. But

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Speaker 6: that's one of the things about sentiment shifts and changes

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Speaker 6: and surprises.

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Speaker 2: You generally don't see.

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Speaker 6: Them until they're right in front of you, and I

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Speaker 6: certainly think we're late cycle.

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Speaker 1: Goldman Sachs CEO David Solomon, speaking on the David Rubinstein

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Speaker 1: Show Peer to Peer Conversations hosted by the Economic Club

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Speaker 1: of Washington. The Department of Justice his investigating whether leaders

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Speaker 1: in the Black Lives Matter movement defrauded donors they contributed

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Speaker 1: tens of millions of dollars during racial justice protest back

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Speaker 1: in twenty twenty. Now, federal law enforcement officials have issued

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Speaker 1: subpoenas and served at least one search warrant as part

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Speaker 1: of an investigation into the Black Lives Matter Global Network

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Speaker 1: Foundation and other black led organizations. Passengers on a Jet

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Speaker 1: Blue flight from Mexico to Newark, New Jersey, were taken

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Speaker 1: to a hospital after an emergency landing in Florida. Jet

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Speaker 1: Blue said during the flight, the aircraft's altitude fell and

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Speaker 1: it was diverted to the Tampa International Airport. Here is

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Speaker 1: audio of one of the Jet Blue pilots telling the

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Speaker 1: tower the flight was experiencing both a technical and a

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Speaker 1: medical issue. It's both issues because of a black patrolitionary

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Speaker 1: cost of Metropolis. The FAA said it's investigating this incident,

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Speaker 1: and that is news when you wanted with Bloomberg News.

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Speaker 1: Now I'm Doug prisoner and this is Bloomberg

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Speaker 5: M