Transcripts For FBC The Claman Countdown 20240712 : vimarsan

FBC The Claman Countdown July 12, 2024

Gamers on the go and a mini version of his home pod smart speakers. We are about to get you all the details, the prices and what will no longer be in the box when your new iphone order arrives . This as gadget lovers may just be bringing christmas early to amazons bottom line. Prime day in full swing at this hour. Our power panel unpacks it all in just a few minutes for you. You got to hear what they have to say about both apple and amazon. And despite titillating tech news, look on your screen. We do have a selloff. Stocks are buckling under the weight of perhaps bad news on the Covid Vaccine front. Positive earnings news unable to save the Johnson Johnson stock after the Pharma Company announced last night its been forced to pause its vaccine study. But which marketmoving force will win out in the long term . Earnings or the vaccine headlines . Our floor show traders are about to place their bets. Plus, the electric vehicle spac tidal wave just getting even bigger. We take you inside the latest power play looking to wipe out the competition. Romeo power ceo lionel sedwood is here live. But first, breaking news. Apples stock, yes, is pulling back by about 2. 5 just as the Company Announces four new 5g iphones with hollywood fanfare. Liz oh, yeah. The james bond music. Okay. So you see that . As they open up the silver briefcases, here comes the iphone mini with 5g capability unveiled, one of four new models. Now, the promise is that this suite of iphone 12s will seamlessly shift to the longpromised superfast fifth Generation Wireless Network which still is not widely available in the u. S. , although verizons ceo made a cameo appearance where he dramatically announced quote, 5g just got real. But you see, investors not entirely buying that. Verizons stock is down half a percent but visually, apple demonstrated the supersharp night video camera capabilities by heading to the chapel. They followed a couple in vegas and their chapel wedding. All of this video shot and edited on iphone 12. What about the prices and comparisons . We fly right over to apple expert and allaround cyberguy, kurt knudsen. Dont you agree with this announcement, it just ended moments ago, the production value that apple is putting on, i have been in every one of their Public Events in person. Its so much sharper. They just get right to it a lot faster. This was a very big day for them because 5g, as you know, is what we have been waiting for with the iphone. It is that promise that we have heard come out with a couple other manufacturers, Samsung Galaxy s20 has 5g but the consumer doesnt quite know if its a value to them. Today, it does make it real, just like it came out of the verizon ceos mouth as well as pricing strategies i think we will start to hear from all the wireless carriers, from at t, tmobile and verizon now turning on their nationwide coverage of 5g. They are going to want our business. They will want it because slowly, the consumers going to start to figure out what 5g means to them. I will give you a brief synopsis here. If you live where liz lives in the city, in the thick of things in major u. S. Cities, you are in really good shape. You will have the low, medium and high version of 5g. We never had that. We just had 4g lte. There was one thing to think about. Now its a little more complicated. There are three versions of 5g. When you are in a big city, you get the big daddy one which is the ultrahigh speed one. That one is about 200 times faster. The standard 4g lte phone that you have been using. Why do we care . That wakes up an entire world of faster connectivity which means when you touch something to get it, it is almost instantaneous. They call that latanclatancy. That is almost going to disappear and now you will be able to do far more things over the cloud to other devices such as editing, interacting with sports, gaming. So 5gs important. Now, nationwide if you live in the middle of nowhere, yet you are able to look up with your wireless carrier that you do have 5g, hey, maybe you want to start thinking about one of these 5g phones but do not expect that superhigh 200 times speed but it will be faster than the 4g lte you have been used to. But i just think this is a big day for apple. It may not be reflected in the stock price just yet because this was no surprise. Liz lets look at the phones themselves. There are four different ones, the mini which looks like, i dont know, the iphone 8. Its got the square edges. Then you have, by the way, thats 5. 4 inches which is about i guess the length of my hand. I have long fingers. Then youve got the iphone 12, the pro, the pro max, and that ceramic glass. Just as apple makes these announcements, you start to see other stocks move. Corning which makes gorilla glass has now made this ceramic glass they say is really really super strong but tell me what else you saw here of these features that you love or dont. You have that corning glass thats on there that is four times better performing when you drop your phone. Look for this phone to be the strongest in the market. You will have competitors trying to keep up with this one. Also, a whole new way of charging the phone. I dont know if youve had this. If you have one of those iphones you can wirelessly charge, well, you had to put it on the thing just right for it to start charging. I cant tell you how many times i woke up in the morning, like hey, this things almost dead. Thats going to go byebye. A new Technology Apple is implementing in all their phones now thats a magnet system that will go on the back and it will have a multitude of features to it. It will be a lot easier to charge, it will connect better, but also, you will start to see accessories like cases as well as max 8 wallets that snap to the back of the phone. They are magnetized to the back of the phone. They are also coming out with a duo charger that will charge your watch and your iphone at the same time. These are accessories i didnt really expect from apple but the strange thing is they are trying to get to that car bbon neutral 2030 deadline. I dont know if you call it focused on the planet or just being cheap about it, because i dont like that my phone will not come now with the charger inside, nor will it come with a headphone. So i dont know if they are being cheap or just being helpful to the planet or mixture of both but it sure would be nice to have that option. Why dont you cut back the box it comes in instead of these materials, maybe. But they have some very significant changes with that. We expected just like their competitors the prices would jump up because a 5g transmitter inside of a phone is very expensive to manufacture. So iphone, though, will maintain its pricing despite this huge upgrade in speed so it will be about the same price we have the iphone mini that will start at, what, 699 i think i have it here, and the iphone 12 with the 6. 1 inch screen is 799. The pro max, the big daddy that will come back later in november, which by the way, two of these start preorders on october 16th, and they will ship october 23rd. Apple with its new strategy where they release a couple first, wait a few weeks, then release the other two, that next date will be november 6th, including that brand new home pod mini which i think that speakers coming out because first off, the home pod was way too expensive for most consumers. Liz yeah, i know. The mini is a 99 version thats so much more accessible and its gotten a lot more intelligent with how they have worked, copying a lot of what amazon has done with echo and alexa. Liz kurt, great to see you. Theres that home pod. We will talk more about that in a minute. The cyberguy. To our expert panel on whether the new phones and home pod are sexy enough to get consumers and investors like you to buy in. We bring in rob gerber and jeremy owens. Jeremy, give me your gut response about this. Let me drill down on the promise versus the hype. Specifically when apple announced that riot games had signed on to provide for the first time its league of legends game as a mobile offering that would really require 5g power. Riot gives parent tencent stock immediately which it had opened down, turned around and popped. What does that tell you about the hype versus the reality . Well, people want to see games on these phones. They want to see what 5g is going to bring. When we got 4g we didnt have netflix streaming, we didnt have uber, lyft, and some of these other services. That ability to really work that data is what brought those services along. We will have to see what 5g brings. A lot of the cloud gaming and seeing that kind of big, you know, being out in front with that kind of game is going to help that company. Liz rob, what jumped out at you . I dont want to ignore the home pod mini but i think whats interesting about that, i think people looked at it and said okay, yeah, its small, its got mesh, it looks pretty chic. We started to watch sonnos because that stock might be in competition and initially fell, then popped back up again. What does that tell you . Well, im a big sonos fan and i think its a big mistake apple hasnt bought sonos so far, because what a great company. It perfectly integrates with apple. But apple insists on trying to do things mediocrely in markets they are not good at. This pod thing is a waste of energy. The real exciting part of today is the fact that this phone costs 1,000. I was expecting it to be probably 1200 and a real premium because of the 5g but what they really decided to do was get the phone out at a reasonable price point so that people could get on the 5g network and then they could start seeing the benefit of that, which will lead to more sales. I think its a real smart strategy to keep the phone priced in a reasonable price range. Liz yeah. What do you think about that pricing and do you expect, jeremy, to see a mass adoption here for 5g which i hate to break it to everybody, whatever verizon said, and by the way, they are definitely well ahead, thats why they got the nod from apple, i dont feel it yet. And im in new jersey. Im looking at manhattan right out of my window. So you know, what im starting to hear a lot about is mm wave, millimeter wavelength. Thats sort of that bridge that will help kind of bridge that gap between 4g and 5g at the moment, but they didnt really mention anything about mm wave which is more indoors, it cant see around buildings, et cetera, but what do you think . You heard the verizon ceo if you watched the event talk about stadiums and putting mm wave in places, you know, in city coure. Were not going to those places and most of us are on wifi all day. We arent going out and doing as many things. So the Value Proposition there may not be that great. But keeping those prices where they are usually when apple takes a big step like this, like moving to 5g, they will charge more for it. They are going to have one or two phones, you know, kind of the expectation here, but the pro phones would have all three bands of 5g, maybe you would have the not so fast bands on the cheaper one but they put all band capability for 5g on all the phones and did not increase the prices from the last round. That creates a Value Proposition and we may now see as you kind of mentioned the wireless carriers getting back into subsidies to try to draw customers again which may make it even more accessible for consumers. Liz yeah. Absolutely. Liz go ahead. Your final thought, ross, about whether any of this entices you. It really does. Going back to what you were saying, if you think about work from home, actually having a 5g phone is super efficient because we are all working on our phones and the speed is like 20 times, 100 times faster. But if you are a gamer, this is kind of a musthave. If you are a mobile gamer, the speeds will give you huge edge playing call of duty or league of legends. Theres a lot of reasons to upgrade and the only disadvantage would have been the price. They took that out of the equation. This is a huge success for apple. Great job, tim cook and the team there. Im really impressed. I think the phones will do great. Liz all right. Jeremy, ross, great to have you. Thank you so much. Yes, apple is moving lower, but if you look at exactly what apple has done right around the time of these announcements, only four times out, who knows, multiple other times have they gone higher, four or five times. Stocks caught between vaxing fears and earnings. The dow down 141. Our floor show traders are about to play referee on that push me pull you, next. Stay tuned. When i was in high school, this was the theater i came to quite often. The support weve had over the last few months has been amazing. Its not just a work environment. Everyone here is family. If you are ready to open your heart and your home, check us out. We thought for sure that we were done. And this town said not today. And if we win, we get to tell you and doug. And this town said not today. How Liberty Mutual customizes Car Insurance so you only pay for what you need. Isnt that what you just did . Service stand back, im gonna show ya how doug and limu roll, ya you know you got to live it if you wanna wi. [ music stops ] time out only pay for what you need. Liberty. Liberty. Liberty. Liberty. Liz breaking news. Eli lily Just Announced its antibody Clinical Trial for covid19 has been halted. The stock is down 3. 5 at the moment, a loss of about 5. 50 to 148. 99. Lily says the u. S. Board overseeing its trials put a pause on the drug trial because of safety concerns. This comes after Johnson Johnson last night revealed it had halted its Coronavirus Vaccine trial, its Clinical Trial, and it will have to take a few days to investigate why one of its 60,000 study participants suffered an unexplained illness. All right. So that is one sort of, you know, earnings picture, but jpmorgan is doing its best to try and lift hopes, reporting much stronger than expected results for the quarter. The stock, though, moving lower by 1. 75 to 100. 68 and Delta Airlines lower after it missed consensus estimates for revenue in the Third Quarter and posted a larger than expected pretax loss. Heres the question. As these headlines pour in, what will drive investors over the next couple of weeks . Will it be earnings news or vaccine news . To the floor show and scott bauer, jon corpina join us for that. Scott, we are getting this eli lilly breaking news it had to halt its trial. We know Johnson Johnson last night halted its trial for the moment. This is very common, i want people to know, when it comes to vaccine testing and things like that. On top of astrazeneca a couple weeks ago having to do the same, that appears to be having control of the market. Is there a chance we might see earnings overtake that sentiment . You know, unfortunately, i dont think so. We all hope earnings are great. We hope stocks show their recovery, that these companies show their recovery and more importantly, can maybe even give some guidance because going back to Second Quarter earnings, that was what really hit the market a little bit is that many of these s p 500 companies didnt give any guidance. So for me, the most important thing or the thing thats going to really direct this marketplace over the next few weeks is news coming out about vaccine or therapeutics. We obviously have Headline News every single day for earnings estimates here, but its these Vaccine Companies and it is what we see coming from a Johnson Johnson, coming from eli lilly, that you can see is really moving the marketplace. Liz yeah. It truly is. Because now the dow is down 129. I just want people to know, the low of the session was 233, at least a loss of that. S p losses, low of the session down 33 points. At the moment, as we continue to watch this living, breathing thing, Charles Payne put all the pressure on me because he said, as he tossed to me, anything could happen in this final hour and that does tend to happen, but separate that for a moment and tackle this issue of vaccine versus earnings news. Liz, i think its neither. I think we will really focus on the election now. We are 21 days from this date. We have been waiting for this for a long time. Earnings season is going to be somewhat benign. The expectations arent that high. We know we wont get really true guidance, we wont get exceptional numbers. Some of the financials will give us good trading revenue and credit risk will go down, so the cash they have to keep on the side, those balances will go lower which will be a good thing for them. Other than that, earnings season is not going to help our markets. As far as vaccinations, vaccines, we saw the report, we saw the lilly report. That should have put a lot more pressure on our markets, i think. It didnt. That eli news came out, the markets went down a few, 10 points, and the s p rallied right back up. I dont think thats really there. The expectation for that is we are not going to get a vaccine definitely not before the election, and most likely not in 2020. So as wishful and hopeful that we are with that, thats not going to be a true indicator. Politics, unfortunately, d. C. Is going to dictate our markets over the next 21 days and hopefully, well, its not going to be much longer after that. We dont want to have any issues coming out of this election. We are going to continue to talk about rallies, to talk about polls, to talk about campaign strategies. I think those headlines are really going to dictate the sentiment and what its going to do is add additional uncertainty to our market, continue to see volatility like the sessions we have seen yesterday and today, and investors will pull back out of this market, not liquidate, just pull back. Not participate as much as they normally would and hope that once we get to the middle of november, things might calm down a little bit. Liz little bit of flight to quality, too, at the moment. Go ahead, scott. If i could bring a point in here real quick. I agree on almost everything, with the exception of regardless of who wins, we probably dont see a big move in the marketplace. That has been proven. So over the next two weeks, the headline risk to me really is reopenings, shutdowns, vaccine. Liz reopenings, shutdowns, vaccines and thats why you are with the claman countdown because we will cover all of it. Scott, jon, great to see you. Thank you. I keep saying little bit of flight to quality, tenyear yie

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