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Speaker 1: Bloomberg Audio Studios, podcasts, radio news.

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Speaker 2: Single best idea and the heart and soul of what

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Speaker 2: we do is the guests and within the crushing schedule

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Speaker 2: of the guests, the technology getting in in studio, in

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Speaker 2: hotel rooms around the world, whatever they gotta want to

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Speaker 2: come on. And we are so humble that our guests

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Speaker 2: around different news events really want to come on. To

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Speaker 2: get Claudia Samon on Jobsday is a big deal. So

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Speaker 2: what do we do with technology? Back to back? Dan

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Speaker 2: Ives and Gina Munster with us. Don't forget some man

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Speaker 2: deep sing at Bloomberg Intelligence among other worthies, But today

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Speaker 2: was wonderful. Dan Eyes of web Bush Securities, Retail, Los

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Speaker 2: Mag seven institutional less.

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Speaker 3: So Retells stuck with it. Institutional they've hit the exit

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Speaker 3: and I think they got and they've got scared out.

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Speaker 3: A lot of the mags haveing a lot attack and

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Speaker 3: now guess what's gonna happen over the coming weeks. They're

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Speaker 3: gonna have to double down. And I think that's why

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Speaker 3: I think the run here that we can see intact

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Speaker 3: over the next three four weeks, especially as we go

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Speaker 3: through I think could be massive because it's under own

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Speaker 3: institutionally because of well is Paul talked about stock being

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Speaker 3: up nine. In terms of Microsoft, there was a view

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Speaker 3: that they were gonna miss azure. They absolutely I mean,

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Speaker 3: this is an Aaron Judge like performance.

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Speaker 2: Dan iives, I didn't know Aaron Judge was. I had

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Speaker 2: to ask Paul who that was. Danives there with webbush

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Speaker 2: and a better than good performance by Microsoft. And I

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Speaker 2: should mention Facebook as well. On we go to Apple

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Speaker 2: and Amazon, Gene Monster join from deep water. And you know,

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Speaker 2: every once in a while, particularly with the generous length

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Speaker 2: of time we get to speak to our guests, I

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Speaker 2: can to ask something more philosophical and to me, the

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Speaker 2: immense miss stree here, the immense mystery here of Apple

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Speaker 2: computer is people really don't know what made Tim Cook

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Speaker 2: Gene Monster on the expert on supply change Timothy Cook.

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Speaker 1: There is one hundred percent confidence in Tim Cook's ability

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Speaker 1: to make the best out of an extremely difficult situation.

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Speaker 1: But even his magical ability to increase gross margins by

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Speaker 1: using better manufacturing over the last decade, even that power

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Speaker 1: is small relative to the forces of what these tariffs

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Speaker 1: could mean. And I'll just kind of put some briefly

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Speaker 1: into context is. My sense is that these tariffs when

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Speaker 1: it comes to Apple, there's still mixed messages coming out

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Speaker 1: of the White House in terms of how Apple's going

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Speaker 1: to be impacted by that. My sense is that they're

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Speaker 1: probably going to shake out somewhere between a ten and

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Speaker 1: twenty percent tariff, And if that in fact ends up

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Speaker 1: being the case, even with Cook's masterful to the supply chain,

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Speaker 1: they're probably going to see some diminishing of gross margins

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Speaker 1: and it probably goes from call it forty percent forty

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Speaker 1: one percent. They're probably going to lose a couple percent

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Speaker 1: on that, call it thirty nine, and so that is

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Speaker 1: it's a step back. I just want to put some

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Speaker 1: context when we hear about all this, the forces that

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Speaker 1: Tim Cook, the levers that he can pull, there are

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Speaker 1: some limitations to it. And that's why I think that

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Speaker 1: I just like applaud dan Ives and him standing up

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Speaker 1: and saying like, we got to get this thing figured out,

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Speaker 1: and what figured it out means is just some clarity.

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Speaker 1: And ultimately I think that that clarity is going to

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Speaker 1: be twenty percent, and it's going to be a little

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Speaker 1: bit of an impact. Again, doesn't change the long term

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Speaker 1: trajectory of the business, but it's something that investors are focused.

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Speaker 2: Gene Monster there of deep water asset management. On the

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Speaker 2: Jobs Day tomorrow, really looking forward to the coverage a

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Speaker 2: wonderful set of worthies to help us with a mystery

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Speaker 2: of this trade war across the nation. On your commute,

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Speaker 2: major shout out to Google Alphabet and their Android Auto.

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Speaker 2: I am brief that they're coming out with all sorts

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Speaker 2: of new spectacular technology to drive that modern digital experience forward.

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Speaker 2: On our podcast, We're out on YouTube podcast single best

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Speaker 2: Idea