Chips. And, Microsoft OnlineGame Services hitby by an outage. Dropping amid a tuesday. N big tech the ecommerce giant amazon facing an antitrust complaint from the eu abigail, walk us through the factors dragging stocks down today. Abigail another mix today. Another down day for tech and the nasdaq 100 in particular having the worst two days and months. On the others, other sex is and indexes doing well such as the russell 2000 and other cyclically minded sectors. 4 . Worst slide, down about investors want out of this years stayathome trade. Investors charging forward into the reopening trade. Inout, inout. As for what was dragging on technology, you were talking about amazon. , in a, now down that youn, the eu talk were mentioning. This was the ultimate stayathome stock. If the economy is going to reopen, recover a little bit sooner than expected. Even as the virus numbers are worsening right now. Investors one out of amazon, one out of microsoft. Zoom, these stocks up so much on the year. A specter of inflation on the screen. As for what is happening after has reported that the stock is all over the map in the after hours. Revenues beat. Revenues last year growing 60 . Down 20 but still better than expected. Still, lots of uncertain. That is good enough right now for the stock to be higher. Emily bloombergs abigail doolittle. Big tech will look like. Interesting to watch the moves we have seen in tech stocks over the last few days. Your views over the past few that the Obama Administration had quite a cozy relationship with Silicon Valley back in the day. Goldilocks sort of a scenario for tech stocks. Specifically two areas. Antitrust, one for legislative changes. I think that is a huge positive. Second at i think most importantly is on china. , a significant ratcheting down, a much softer tone that biden will take. Semi conductor stocks, you are seeing a rotation into chips. Bullish names like apple and cisco as well. Emily we are looking at a video macs,les newly released designed with fully apple designed chips. This is a huge transition for apple away from intel. 1820 hours of battery life for these new computers. What is your outlook . Dan this is a major step for apple. Really 1520 years in the making. The cupertino ecosystem. What you see they have done here on the mac side, i think it is a first step. There is more integration between software and hardware. Taking a step back to the biggest product cycle apple has had in a decade. Emily this is obviously not good for intel. Intel out with a statement, having its own chips providing the best and most open experiences. They have been working for more than a decade to get these chips and laptops ready for prime time. Talk to us about what this means given that now the entire family of apple products will be on the same architecture. Eye for inteblack l, especially with apple saying chip. Ill come out with a Machine Learning significantly higher than they have before. I think what you are seeing apple do is vertically have more control over the ecosystem. Tos is really only drumroll 5g. Now, apple is not just a customer, they are a chipmaker. Really monumental move today in terms of cutting the ribbon on m1. Emily what do you think this means for the Holiday Season . Obviously, we are all stuck at home but we are also in the middle of a recession. We do have a president elect, whether or not President Trump wants to or does hand over the keys. Holiday meanles for you . I think despite the noise, it is viewed as a nerve on a situation, the biden president situation, ana biden presidency and a red senate. Air pods, 90 Million Units per year. Uptake will be key for Holiday Season. I think the iphone many as well as other versions of iphone 12 will be significant Holiday Gifts going into year end. When you look at apple and of course amazon. I think this will be a rally where we will see anticipation of a very strong december quarter even though you are seeing what i view as a shortterm rotation for value. Emily dan ives, thank you so much for sharing your view. Always good to have you. On saturday, joe became president elect of the United States. But, since President Trump has not conceded, nor has the General Services administration has acknowledged a transition of power, things are getting murky in washington. Lets get more from our white house reporter. Secretary pompeo earlier today joking about a second trump administration. At one point do we need to be concerned that President Trump is not going to hand over the keys . Former Vice President biden, now president elect biden, tried to give a calming effect to the nation today when he spoke, saying that President Trump will no longer be president on january 20 and that he is forging ahead with his transition. Democrats are concerned about some of the signals coming from the trump camp. The escalating legal effort ongoing. Now, attorney general bill barr is involved. He did away with a Justice Department rule, saying they are not supposed to go ahead with vote irregularity investigations while the vote count is ongoing. Federal prosecutors do have permission to go ahead with those in addition to all the legal actions that the Trump Campaign is taking. Democrats, supporters of president elect biden, are very alarmed. Emily President Trump still tweeting that he is going to win, that these legal challenges are going to prevail. Talk about the mechanics of this. There are organizations within the white house that need to start handing things over. Right now, that is not happening. That is right. The general that oversees real estate basically the General Services administration basically is supposed to open up Office Buildings for the Biden Administration to move into. Thereve been key agencies like the director of National Intelligence who say they will not share intelligence reports with the biden camp until that certification is made. A lot of the actions you see at this point normally are not taking place because of President Trumps refusal to concede the election. Certainl emily emily certainly an evolving situation. Coming up, the u. S. And europe continue to get hit with devastating surges of covid19 with some places see and record high numbers of cases. We will hear from the ceo of an upandcoming Health Care Provider about what they are doing to tackle the mounting covid challenge. This is bloomberg. Starting in late august, covid was essentially a rural problem. Now, it is back in American Cities where dense populations spread the virus at alarming speed. New york and boston are seeing comebacks as the entire u. S. Posted a record 143,000 new cases yesterday. One Health Care Company looking to scale up its work in testing health. N joining us, the founder and ceo. With this new money, you are planning to open 100 popup clinics across 20 different markets by the end of winter. You are going to communities that need it most. Where are those communities and what are they experiencing . Four counties in the United States is what they call a health care desert. Those places will certainly be priorities for the popup clinic location. In terms of the popups, health is going through a massive growth phase right now. Seven clinic last year to now 30 clinics. By next year, we will have 150 locations across nine or 10 locations in the country. Our plan is to reach 1500 locations by 2025. I dont think the Health Industry has ever seen the type of growth in location Access Points that we are going for. Emily in many ways, you are using technology to scale up health care. Of activityhat kind levels we are seeing as far as that is that simply the way that health care is going . We are significantly in significant seeing an increase in telehealth visits. But tremendous growth in both sides. We now have i think seven times more patients than one year ago. Everything has really grown by roughly eight times in the last 12 months. Telemedicine has been an important part of that. Patients will expect Health Care Providers, whether it is video visits, clinic visits, maybe a testing,ace for quick may be monitoring and home testing, we think that patients dont want their health care to fragment. A multiple format exactly in the future. Offer variouso covid testing kits. You have a program called covid positive care for folks who have tested positive. The covid positive program is the most recent program. As we know, there are 10 million cases who tested positive but we still have not seen anybody build a solution. Started on boarding the first couple hundred people in the first pilot. Testing has been an area that was actively participated in. Tests across every modality you can imagine. Really focusing our energy on responding to this pandemic in every way we can. That weyou can argue have taken the pandemic more seriously than the u. S. Government. Emily how concerned are you about continuing issues amidst the good news about the Pfizer Vaccine . You are still seeing a lot of sick people. The Pfizer Vaccine is amazing news. The data is very good. There is a lot to be optimistic about. It is not easy to manufacture, distribute, administer vaccines. It is a significant and logistical undertaking. Mile,ally in the last Health Care Points would be a big part of that. Vaccinateder hundreds of millions of people. It has been putting up these containers,opups, so that we can distribute and administer it as fast as humanly possible. They i imagine going into holidays, there will be a lot of demand for tests as cases continue to search going into winter. What are your biggest concerns over the next two months in terms of meeting that demand . Seen 40 moreeady demand in january compared to september. We definitely expected an increase in cases around the flu season which is starting. Surgewe expect another when schools reopen and another one when people go back to offices. The problem has not been resolved and at every step, there will be another surge. Hopefully, when enough people get administered, we can go back to our normal lives. Emily cofounder and ceo of carbon health, thank you for joining us. Moreg up big tech facing global scrutiny with the eu and china going after powerful company. This is bloomberg. Many retailers have to invest heavily to identify products of interest and bring them to consumers, taking risks when they invest in new products and when choosing a specific price level. Our concern is that amazon can avoid some of these risks when using the data that we have access to. Emily that was the European Commission evp. Europess become latest big techtarget as investigators look into the use of rivals data and whether amazon continues to favor its own products. I am curious what you are complaintsthese new being leveled by the eu. They say they are not worried about amazons size. So what are they worried about . They are sharpening their concerns about amazon. They are saying, we are concerned about your business youtices, certain things are doing. In this case, the clip you played was they are highlighting their use of thirdparty merchant data. More than half the goods sold on amazon come from thirdparty merchants. The eu is saying, you could be taking advantage of this insight to create and develop your own products that then compete with these people that could stifle competition. Emily how does the eu investigation compared to the antitrust investigation they are facing in the United States . It seems that they started from the same place in terms of their concern for size. The eu appears to be ahead of the u. S. In terms of sharpening and narrowing the focus of these specific practices. They have this one here on the thirdparty urgent data. Even if amazon has hundreds of millions of products, what really matters is what people really see. When they go to amazon to buy something. Is amazon using its ability to make things more visible and them in front of you as opposed to other products that might be on the site. The eu is a little bit ahead. Report. Had a 450 page highlighting concerns about amazon, apple, google. It is hard to see what the regulators have zeroed in on. We are getting a clear picture of that in the eu. Aily is this leading to possible breakup or is that unlikely . Amazon want to have a uniform platform. They want the same rules everywhere. That makes their platform easier to use. Expense ofes their operating it. It is really designed to be around automation and simplicity. Any difference in the rules of the game here, there, and everywhere, something that they want toid for avoid. Emily all right. Thanks so much, spencer, for that update. Consoles, the new xbox are out after a year of unprecedented hurdles. Will xbox deliver on expectations . We will speak to the head of Microsofts Xbox next. This is bloomberg. When you switch to xfinity mobile, youre choosing to get connected to the most Reliable Network nationwide, now with 5g included. Discover how to save up to 400 a year with shared data starting at 15 a month, or get the lowest price for one line of unlimited. Come into your local xfinity store to make the most of your mobile experience. You can shop the latest phones, bring your own device, or trade in for extra savings. Thats simple, easy, awesome. Visit your local xfinity store today to ask, shop, discover the latest on xfinity mobile. Emily this is bloomberg technology. Much t is out with as with its much xbox series. The Microsoft Team and its Development Partners have gone to extraordinary lengths to build their games remotely. Microsoft has delayed halo infinite. There is not a single major exclusive this year. The Online Game Services experienced an outage this morning, preventing some customers from signing in to xbox live. Joining us now to discuss how the new products welfare, phil spencer, head of xbox. Great to have you back. I asked if you will deliver on High Expectations gamers have this year. Will you . Phil absolutely. I feel really good about the products, the consoles we are shipping. Demand is incredibly high. My guess disappointment is demand is higher than our supply. Building consoles as fast as we can. Feel really good about our products and the acceptance we are seeing from gamers worldwide. You expect to be affected by the supply issue and when do you think those will ease up . How many people who want an xbox will not be able to get one right away . Phil we did our preorder a little over a month ago. That was done in a couple hours. Today, we have launched reports of outages at retailers. We are out of consoles. Every week, we will have new consoles coming in. I think we are going to be in this state for a couple months. The pandemic has we have seen a surge in gaming activity. People staying at home and playing games with her friends and family with their friends and family online. We are building them as fast as we can. There is a lot of demand. Emily i know the outage was fixed in a little over an hour, but what exactly happened . Phil we had a little bit of a sign in issue. It impacted about 10 of our base that was trying to log in. Working with our networking team, we worked through it quickly. It was a number of things. It was not just an xbox issue. There was a microsoft account issue. It was rectified pretty quickly. We get reports of a lot of people having a great time setting up their councils today. There consoles today. Emily talk to us about the herculean efforts to get the consoles in the content ready in the middle of a pandemic. My colleague hyson excellent piece out talking about engineers shoving large pieces of equipment into cars so they can do what they needed to do to build from home. Clearly nothing you ever planned on. Phil it was a good piece. I thought she did a nice job on that. It is true. Videogames today some people probably do not know this, hundreds of people come together to build these videogames. In the beginning of march of this year, everybody go home but continue to build the consoles in the operating system and the games to get ready. There is no playbook for us in how to get this done. The incredibly proud of dedication of the teams, to get the games that are available. Foras a new way of working us. Frankly, we are still working this way. The fact we were able to launch this holiday and have somebody happy customers is a testament to the commitment of the team should emily lets talk about the delays of the game. How long do you expect that to continue . Phil we have to put the safety and security of our teams first and foremost. It is not lost on me we are building videogames. We are not frontline workers. It is not an essential service we are providing. When we look at tradeoffs between the quality of the game, the safety of our team, we are going to focus on quality and safety first. That is what we are working through now and a lot of teams are. Us. S not just an issue for. We are going to work through it diligently to make sure we are building games in a safe way and we are making the right progress. We are learning everyday. It is a long process. I know microsoft is taking a different approach to other game makers, but you have folks out there saying without halo, playstations initial lineup is better. How concerned are you about that . Phil we are selling every console we can build right now so we feel good about the demand for xbox. Like you said, we are taking a different approach. This is the generation of the player, not the