WEBVTT - Single Best Idea with Tom Keene: Ed Yardeni & Dan Ives

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<v Speaker 1>Bloomberg Audio Studios, Podcasts, radio news.

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<v Speaker 2>Single best Idea, Two tidbits of an eventful Friday.

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<v Speaker 1>Here.

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<v Speaker 2>I'm Bloomberg Surveillance, Inside Baseball on some history as well.

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<v Speaker 2>Most of this process that we do it for three

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<v Speaker 2>hours was invented years ago. I'm actually sitting in the

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<v Speaker 2>room where it was invented here at our world headquarters

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<v Speaker 2>by Emily. Emily went and said, okay, we got to

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<v Speaker 2>do this. We have a staff of twenty, I have

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<v Speaker 2>three interns. All the rest of it great, but the overload,

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<v Speaker 2>the bearing of getting all these guests in all these voices.

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<v Speaker 2>You can imagine trying to do it for one day,

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<v Speaker 2>for five days, or to do it across a twenty

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<v Speaker 2>day month. This Friday was an example of a spectacular

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<v Speaker 2>guest list. We could have done two here, two here,

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<v Speaker 2>two here. I could have done a three hour podcast

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<v Speaker 2>of surveillance single best idea. But instead we have to

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<v Speaker 2>choose and choose rapidly, and we do that because the

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<v Speaker 2>staff really controls the show. I can't say enough how

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<v Speaker 2>I'm not involved in picking the guests. We go over

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<v Speaker 2>them and all that. This one was good, this one

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<v Speaker 2>was bad, and that, But what a joy to walk

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<v Speaker 2>into the world headquarters today of Bloomberg and see the

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<v Speaker 2>quality of our guests. Dan iives will join us in

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<v Speaker 2>a moment, no doubt on Apple. But Ediar Denny is here,

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<v Speaker 2>and he is identified with the bull market, not lest October,

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<v Speaker 2>but the two October is now on, and it's beginning

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<v Speaker 2>to be a great bull market. There's another bullmarket. It's

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<v Speaker 2>out there in bitcoin. I mean, come on, you got

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<v Speaker 2>to ask you Edjo Denny about bitdog.

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<v Speaker 1>Well, this will probably get a lot of people mad

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<v Speaker 1>at me, but I mean, well, and that is I

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<v Speaker 1>view I view bitcoin as a digital tulips. In other words,

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<v Speaker 1>it is kind of like what happened in Holland with

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<v Speaker 1>the bubble in tulips. But there's a huge difference here

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<v Speaker 1>which really presents the possibility of much higher upside which

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<v Speaker 1>we've already seen. And that is the notion that it's

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<v Speaker 1>a global market and it's open twenty four by seven,

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<v Speaker 1>and we're talking about tens of thousands, hundreds of thousands,

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<v Speaker 1>millions of people playing in the bitcoin marketplace. So I

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<v Speaker 1>have no idea how high I could go. I have

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<v Speaker 1>no idea how low it can go.

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<v Speaker 2>Ed Yard Denny. There's Scarlett fu sitting in for Paul

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<v Speaker 2>swhen he fell off for chair. When he said digital tulips,

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<v Speaker 2>I thought that was absolutely perfect. Mister Yardanny very importantly

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<v Speaker 2>reconfirming his optimism to fifty four hundred. This year he

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<v Speaker 2>remodeled out six thousand, and he did not model sixty

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<v Speaker 2>five hundred out to twenty twenty six. I don't want

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<v Speaker 2>to put words in his mouth, but doctor Yardenny made

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<v Speaker 2>very clear that the trends in place can stay in place,

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<v Speaker 2>and that's how you begin to imagine sixty five hundred SPX.

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<v Speaker 2>I'm going in my head say that's now forty eight thousand,

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<v Speaker 2>fifty thousand out there somewhere. We will see as we go.

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<v Speaker 2>He is, with a question, the hardest traveling securities analyst

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<v Speaker 2>on the street. Why because people insist on listening to Daneyes,

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<v Speaker 2>he's at Wedbush and if you just follow him on

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<v Speaker 2>social the airplane schedule is absolutely brutal. We were talking

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<v Speaker 2>about the nice that hees, say of Singapore airlines or

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<v Speaker 2>you know, the domestic airlines as he does where he

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<v Speaker 2>goes twenty days a month. I would say on a

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<v Speaker 2>global basis, he thinks nothing of flying to Australia for

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<v Speaker 2>seventy two hours, and of course all of that and

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<v Speaker 2>of course a huge cost in doing that. For webbush

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<v Speaker 2>is made up by people that demand to hear from

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<v Speaker 2>this opinionated technology analyst. Dan Eyes is so good that

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<v Speaker 2>even if you totally disagree with him, you want to

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<v Speaker 2>hear is thinking. It's not that he's been wrong on Apples.

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<v Speaker 2>Apple's been sort of resilient. I'll say he's been off

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<v Speaker 2>the mark on Tesla, and there's been a couple other doozies,

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<v Speaker 2>but on Apple he was brilliant today. Just as one

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<v Speaker 2>quick tidbit modeling out late in the conversation that the

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<v Speaker 2>services segment of Apple at two ninety nine U spend

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<v Speaker 2>for the Bob Bragg's story, you know, the movie that's

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<v Speaker 2>out on Apple right now, those services fees is a

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<v Speaker 2>one point five trillion dollar business. Just one tidbit from

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<v Speaker 2>Dan ives today. But far more importantly it's about the

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<v Speaker 2>view forward for Coopertino.

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<v Speaker 3>And that's what it's all about right now for Apple

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<v Speaker 3>I CA. You just keep going back to two point

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<v Speaker 3>two billion iOS devices, D'STI and saw base. You have

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<v Speaker 3>two in seventy five million iPhones that have been upgrade

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<v Speaker 3>four plus years. Now you have AI coming to it.

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<v Speaker 3>But I believe a new app store, an AI coming

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<v Speaker 3>to iPhone sixteen with them owning their own chips. That's

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<v Speaker 3>that's why I believe a year from now, this is

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<v Speaker 3>a comment's going toward four trillion, not going lower in

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<v Speaker 3>terms of the sentiment.

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<v Speaker 2>Dana ives resilient on Apple and making clear off of

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<v Speaker 2>I believe it's a May second earnings report. You know what,

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<v Speaker 2>it may take a little longer to see the future

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<v Speaker 2>of the dan and ives optimism with Apple. We did

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<v Speaker 2>talk about the eighteen chip as well. Look to Mark

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<v Speaker 2>German and his must read power on all things Apple

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<v Speaker 2>and Frankly German going out to a little bit other

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<v Speaker 2>technology as well. It's real simple. This is a growing project.

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<v Speaker 2>As I say, it's a work in progress. Thank you

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<v Speaker 2>so much for your support, particularly thinking Apple for best practices.

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<v Speaker 2>On podcasts, the show is on Apple car Play. It's free.

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<v Speaker 2>You download the Bloomberg app. Scarlet Foo has it. If

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<v Speaker 2>Scarlet Foo has Apple CarPlay, YouTube can have Apple car

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<v Speaker 2>Play and on Android at Google a play on YouTube.

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<v Speaker 2>You go in, you search Bloomberg podcasts and it's a growing,

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<v Speaker 2>growing effort. And yes, are very aware of some of

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<v Speaker 2>the things you've requested on YouTube, and we're working in

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<v Speaker 2>them right now. This is Bloomberg's surveillance