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

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Speaker 2: This is how you roll when you're a gentleman on

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Speaker 2: a certain agent on Wall Street Friday, blue jeans, popper shirt,

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Speaker 2: blue blazer, solid I love it. And this guy comes

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Speaker 2: in and blows up the entire studio. I mean, there

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Speaker 2: were clashing in so many different directions. I don't even

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Speaker 2: know where to go. But Dan Ives is here. He

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Speaker 2: does all the tech stuff for wet Bush Securities. Dan,

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Speaker 2: you've been busy this week. We've had a ton of

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Speaker 2: tech earnings. I just want to start with Apple last night.

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Speaker 2: The iPhone seventeen is a thing, isn't it.

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Speaker 1: Look it's a surprise upgrade cycle. I mean that's the reality.

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Speaker 1: And for so long we've always talked about, you know,

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Speaker 1: these upgrade cycles, a potential supercycle, and this is a

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Speaker 1: surprise upgrade cycle. And I think especially what we're seeing

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Speaker 1: in China, well, China was a decliner. Now you start

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Speaker 1: to see that increasing year of a year. That's something

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Speaker 1: streets coming up in terms of numbers. The New York

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Speaker 1: City cab driver's embarrassment Apple six to nine months, So

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Speaker 1: that's this is a bullish scenario, especially leading into what

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Speaker 1: I believe now will be the year of AI. Ultimately

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Speaker 1: Google partnership for Apple seventy five hundred dollars.

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Speaker 2: Let's go back to that. What is Apple's AI strategy

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Speaker 2: going to be or should be?

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Speaker 1: Do you think today it's invisible? Right today? In the

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Speaker 1: AI party that started at nine pm, it's now ten

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Speaker 1: thirty pm. That party goes to four am, cook an Apple.

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Speaker 1: They're on the outside, looking behind the velvet ropes. They're

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Speaker 1: looking through the party through the window. But what I

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Speaker 1: believe they're going to do now once Google won that

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Speaker 1: DOJ suit, that clears the road for them to do

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Speaker 1: a significant Gemini partnership where ultimately the consumer AI revolution

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Speaker 1: goes through Cooper Tino.

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Speaker 3: Well, look, we're talking AI spend. We've got to talk

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Speaker 3: Meta because they're the complete opposite of Apple. Right, they're

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Speaker 3: just throwing the kitchen sink at AI right now? But

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Speaker 3: Wall Street are they approving of the spending Meta is

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Speaker 3: doing in that space?

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Speaker 1: Look, in my opinion, it's a table pounder when that

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Speaker 1: stocks sold off. Yes, because my whole view is this

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Speaker 1: is an AI arms race. You want companies to spend now, Look,

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Speaker 1: free cash for earnings obviously gets hit. But the reality

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Speaker 1: is is that this is a fourth Industrial Revolution. And

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Speaker 1: you want all these coming from Microsoft to Google to

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Speaker 1: Meta to what we see with Amazon. But guess what

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Speaker 1: they're fueling the AI revolution. That's obviously bullish for Nvidia,

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Speaker 1: AMD and others. I love what Meta's doing. I think

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Speaker 1: it's a four digit stock, and I think what you're

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Speaker 1: seeing now it's spreading. Look at Amazon. Finally, Jassey saying,

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Speaker 1: don't forget about us. It just shows in street continues

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Speaker 1: to underestimate the scope and scale of this fourth Industrial Revolution.

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Speaker 2: So and Alexa saw yesterday Meta the stock did sell off.

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Speaker 2: They went out and I sold thirty billion dollars worth

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Speaker 2: of bonds, had one hundred and twenty five billion dollars

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Speaker 2: demand what I was doing? That business a five or

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Speaker 2: ten billion dollar deals were monster?

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Speaker 1: Right?

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Speaker 2: Thirty billion and I bet you had made five phone

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Speaker 2: calls last night and sold that deal.

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Speaker 1: I bent you.

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Speaker 2: That's what happened. Dan, Talk to us about Amazon. Boy,

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Speaker 2: that stock's up twelve percent pre market trading. Here. Talk

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Speaker 2: to us about where they are with their cloud business

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Speaker 2: Visa v Microsoft, Visa v.

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Speaker 1: Google.

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Speaker 2: Where's the cloud horizon for Amazon.

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Speaker 1: For the last few years? Right, if you look at

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Speaker 1: the top of that mountain, it's Microsoft and Theadela and

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Speaker 1: then of course Google what they've been done with GCP,

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Speaker 1: and that's been huge, the rerating that we've seen with Google.

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Speaker 1: But if you look at Amazon outside, looking at right,

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Speaker 1: I mean Jase, even though he's in AWSK, I really

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Speaker 1: anthropics been the opportunity underwhelming last night. I think it's

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Speaker 1: an inflection point quarter for Amazon. I think this now

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Speaker 1: is going to change the view of Amazon when it

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Speaker 1: comes to the cloud. Pyes, school some of the parts.

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Speaker 1: That's how you get the three forty three and fifty

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Speaker 1: dollars stock And this is a very very important quarter

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Speaker 1: for the two mag seventy. If you think about Apple

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Speaker 1: and Amazon both sort of like they're sitting at the

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Speaker 1: table by the kitchen, like at the wedding, like with

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Speaker 1: the random friends they get at that random table. They

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Speaker 1: want to be at the cool table. Now they're there.

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Speaker 3: Look, there's so much to talk about with Dan ives right,

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Speaker 3: because you just I just I want to tick through

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Speaker 3: some of these things we have you here in studio Tesla.

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Speaker 3: Are these shareholders going to vote for this huge compensation

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Speaker 3: package November six or Elon.

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Speaker 1: Musk there's a better chance to me not eating chocolate

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Speaker 1: sour patch kids tonight. Then this thing actually getting voted down.

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Speaker 1: I mean, the point is this thing is getting one

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Speaker 1: hundred percent getting voted for. The reality is that Musk

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Speaker 1: is Tesla. Tesla is Musk. He's a wartime CEO. Right now,

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Speaker 1: you need him in this Ai chapter. And then also

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Speaker 1: I think they'll they're going to vote for the XAI

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Speaker 1: ownership piece, which speaks to Tesla isn't a on it.

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Speaker 1: It is an autonomous and robotics play. It is not

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Speaker 1: about deliveries. In my opinion, I think that's why this

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Speaker 1: is so important for shareholders when it comes to Musk.

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Speaker 2: All Right, we got it before, we let you go

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Speaker 2: Happy Valley. Turbulent times in Happy Valley, Penn State we

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Speaker 2: have we don't have a coach, but boy is at

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Speaker 2: a good seat. What do you think Penn State's going

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Speaker 2: to do in terms of hiring it.

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Speaker 1: Look, in my opinion, it's the number And obviously you

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Speaker 1: can say bias, I think, especially after the LSU governors think,

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Speaker 1: I think it's the number one coaching spin in all

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Speaker 1: of college football above Florida. To me, you know, Paccraft,

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Speaker 1: there's no better athletic director. I think right now in

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Speaker 1: the world than him, and I think they're gonna go

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Speaker 1: for Elka at Texas and m I think you go

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Speaker 1: for Clark Lee at Vanderbilt, manny Da Potenti, Sha Brahm

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Speaker 1: and others there. Look, this is it's obviously been a

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Speaker 1: very very you know, disaster year, but it's our view

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Speaker 1: we need the right person to ultimately take us to

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Speaker 1: the next level.

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Speaker 2: There you go, Dan I very he's a proud Penn

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Speaker 2: State alum, very involved in the athletic department there at

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Speaker 2: Penn State. And I think he also does some tech

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Speaker 2: research on it.

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Speaker 3: And he looks like Florida, the state of Florida walking

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Speaker 3: badly badly.

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Speaker 1: It's a total side there. Guys like Sweeney, they're the

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Speaker 1: ones that give out the full chocolate bar for Halloween.

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Speaker 1: So that remember that continues to be you know, obviously

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Speaker 1: someone that many none of the many can you can't

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Speaker 1: do you can't do many.

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Speaker 2: Thanks so much for joining us. We really appreciate it.

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Speaker 2: Dan I's global head of Tech Research and Web Bush

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Speaker 2: Securities