Without borders was leveled by attack. The airstrike blamed on Government Forces left 50 people dead. A less than welcome greeting for donald trump in burlingame, california. Protesters fought with police and knocked down barriers. Thee arrived to address state gop convention. He said his entrance was like crossing the border. In kenya, search and rescue teams are made at the site of a sixstory building collapse. Four people are hospitalized and others are trapped beneath the rubble because of the high housing, some developers bypassed building regulations to cut costs and maximize profits. Im Mark Crumpton at bloomberg World Headquarters in new york. Bloomberg west is next. Emily i am emily chang, and this is bloomberg west. It has been a dramatic week for tech stocks. Apple sending the s p 500 to its lowest drop since february with amazon checking in for its best profit yet. Plus, the app pulled off a bigtime coup today, scoring a one every kind of deal. Will snapchat revolutionized the way we watch the olympics . The onslaught of earnings continues. Well hear from the ceos of linkedin and pandora. Their vision for a pass for a path forward. We have now gotten financial updates on some of the biggest Tech Companies. For some, investors may remember this week as a Time Momentum really shifted one way or another. For facebook, earnings gave Mark Zuckerberg the chance to ask for more freedom. On the other hand, twitter Ceo Jack Dorsey is under more pressure than ever. Perhaps a better example of divergence in tech stories is apple and amazon. Apples First Sales Decline in 13 years marked an end to an unprecedented growth streak that lasted 51 straight quarters. 51 billion market cap in one hour the next day. The knockout punch, billionaire carl icahn saying there is no more money for apple stocks. Amazon posting its most profitable quarter in 20 years, giving Ceo Jeff Bezos the title of worlds fourth richest once again. For more, bloomberg Staff Reporter jeffrey c only, kathy would in new york, and jeff in san diego. What is the most significant about what we saw this week . The biggest story ended up being apple. It is down seven straight days. It lost 11 over the past five days. What happened was, after the market closed tuesday, the stock was down about 6. 3 on wednesday. It wasnt until thursday that we really saw apple hit the red and start dragging down the rest of the market. Carl icahn, had about 2 00 p. M. Eastern on tuesday, said he sold most of his apple shares, which is an aboutface for investor who, even as recently as last year, was saying the market cap could go up. It is really the Inflection Point that we saw with the s p that drag us down about 1. 5 for the week. Emily i believe icahn, at the time, spend some time with tim cook. You believe that it could be a major Inflection Point . Yes, i think so. Carl icahn is in trouble anyway, so lets take carl off the table. Specifically the decline in terms of revenues and the iphone itself, that is the end of an era. It is happening across Smart Devices and mobile phones in general. The years of hypergrowth are over. An awful lot of what has happened in technology right down to the app the economy over the last 10 years. Amazon, in late 2014, really turned a corner on amazon web services, something they have been investing in for the better part of a decade. That is now an engine of growth and profit. 60 yearoveryear growth on what will probably be a 10 billion business, according to jeff bezos. It is kind of going to turn into the kind of death star for other companies that apple was four or five years ago, sucking revenues and profits. At 5 00 p. M. , oracle and a host of others. We are seeing this kind of change of leadership. Emily kathy, you hold amazon and also apple. What is your take on this idea . Kathy we have been prepared for some weakness here as we transition from one to the next. We have a debate within our firm, but we believe that apple, our next generation web team thinks that apple could become more of a recurring revenue model if it moves to this 32 per month you pay and you get an upgrade every year. If they can do that and bring on services, which actually accelerated this last quarter, if they can get Services Going and get this idea going that apple can be a recurring revenue model and not a boombust kind of model, then we think the multiple, which is very low, could expand. They have their app store, streaming music. We think there is a little more hope there than other people believe. Emily lets talk about jack dorsey having a great week with square and a not so great week with twitter. The cofounder of twitter was on earlier this week and had this to say about how long a turnaround will take. Do you think things have gone into a some kind of time chamber with a master ceo advisor and come out 40 years . He is like super good at this now. Emily do you think it will take a decade . Biz it could take longer than six months. Give it a couple of years. I am holding on to my equity, thats for sure. Emily just ahead of that, biz said jack thinks in decades, wall street thinks in quarters. Paul it is a lovely thought but sort of a soft statement. If you really want to spend time, do it public. That is really what has to happen here. We are many years of change before we see a new twitter emerge. I think it is a very naive way of thinking about how investors look at your company. It is something i have a lot of trouble with. Emily i want to talk about facebook, which crushed it. Mark zuckerberg asked for a new class of stocks. I asked what that actually means. I think a new class is a tricky issue. When things are going well, it is a good thing. When things arent going so well, it can be a bad thing. At this particular juncture, i think he has earned the right to continue to steer the ship because he is steering in a great way. Emily what is your reaction to that . Cathie he has done such an amazing job. He has kept his eye on the ball. Engagement, artificial intelligence. They will use that to continue maximizing engagement, continue people spending time with facebook, moving from 50 minutes to, he hopes, hours. I think he has done a great job and he will make some tough moves like buying whatsapp, from time to time, but they end up being the right moves. Emily they say he will be making more bold moves in the future. Thank you all. Coming up this summer, you could be watching the olympics in snapchat. We break down the details of the companys new deal with comcast and what it says about the cable giants visions in entertainment. Emily in todays revolving door, Cypress Semiconductors ceo tj rodgers is exiting the company he founded. The changing of the guard comes with an admission from the 68yearold industry legend that he didnt want to continue being tied down with operating a 7000 employee company. Rogers says the First Quarter report, his 120th, would be his last. This summer, when the time comes to watch the olympics, you may tune in via snapchat. The social messaging app has reached a deal with comcastnbc to share highlights on a designated channel curated by buzzfeed. This will be the first time that transmission of the lipids will happen on a mobile platform. They have reached a demographic in the United States and they say snapchat is important to assemble the large audience that will show up to watch the olympics. Snapchat said users watch 10 billion videos on the app every day. Here to discuss is our Bloomberg Intelligence analyst and our media reporter, jerry smith, in new york. How unusual is it that comcast would give away olympic highlights for free to a company like snapchat . Gerry this is actually the first time that nbc has, as you said, given away programming for the olympics. They spend a lot of money getting the rights for this and they are very protective of it. I think nbc and a lot of other Media Companies are realizing that younger audiences are not really watching television the way they used to. They are doing a partnership with snapchat to sort of entice them. They are on snapchat, watching some of these user created videos, and nbc is betting that this will entice them to also tune in to watch the olympics live. Emily do you feel that they would also share advertising revenue . Gerry thats right. There is Advertising Opportunities here as well. That is a big thing that snapchat is really trying to convince Media Companies is that we have this huge audience of young people and we can also sell ads that way. Emily earlier this week, you expressed skepticism about snapchats ability to scale enough to justify a 60 billion valuation. Does this change your mind . Jitendra viacom, sharing of ad revenues with them, and now nbc. It is great that the content cycle is growing. Obviously, the younger audiences there. The problem with scaling is that you need to have this platform to be a lot more programmatic. If you look at marketer surveys, they suggest that there is more work to be done on measurement that they can derive out of these platforms. There is some risk in terms of like meeting those expectations longerterm. They should be fine with these deals on going. They need to really execute on making a platform more programmatic. Emily a partnership with snapchat will be happening via buzzfeed, which nbc is an investor in. What do you make of this sort of new Media Company that comcast is becoming relative to a company like disney . Gerry if you think of comcast, it really started as a cable company. They sold you cable tv service. That is a business that is really maturing. There is a certain amount of cord cutting going on where people cancel their tv service. They are kind of looking for growth from other divisions. They are really looking to compete with disney in animated films and theme parks. The buzzfeed deal buzzfeed is going to be working with nbc during the olympics. That is a 200 million deal that they made with buzzfeed last year. This is one of the first times where nbc is planning to use that invest the with buzzfeed to try and reach younger audiences, people on snapchat, young people online who arent watching television as much. Emily it is fascinating to watch. Thank you both. Coming up, linkedin reporting a healthy quarter, but what more can they do took salary growth . We hear from the ceo, next. Emily linkedin is getting a boost from a healthy Earnings Report wednesday. I sat down with jeff weiner earlier and asked how he handles the volatility. Jeff at the end of the day, the volatility, we will leave that to the market. They determine the daytoday price, and we determine the longterm value through execution. We are going to continue to focus on executing the business. It was a positive quarter for us. We were able to focus on fewer things done better. We saw the Consumer Engagement accelerate by virtue of a new application we launched, which also accelerated our desktop growth. We continue to focus on our core business product, such as recruiter and sponsored content. Emily why using linkedin shares have been so volatile after earnings . It seems like investors have such a strong reaction. Jeff you would have to ask the investors. I understand volatility, and at times were going to do our best try to provide as much visibility as we can into the business. As our business continues to grow, we are introducing something additional lines, and i think it takes time to have people learn those businesses and calibrate expectations. Emily you said that the Addressable Market for linkedin is 12 billion. You are penetrated about 20 there. If the market is large and penetration is low, why cant you grow that business faster, like a facebook . Jeff the objective is to grow the business faster over time. We are investing in our recruiter application. We just rolled out the next generation version of that application. It is a complete overhaul, the largest overhaul of its kind in the seven years we have been operating that product. We just rolled out to new skews, and we see a growth catalyst in our career pages. We have also been investing in our job seeker application and the active job seeker use case on linkedin. That has become one of the fastestgrowing parts of the site. All of this should help future growth. Emily that is two thirds of your business. Would you say that the business is now mature or saturated because growth is decelerating . Jeff hardly saturated. There is multibillion dollars that we believe we could further penetrate by virtue of these new products that we are rolling out and improvements to existing products. Positive growth ahead. Emily lets talk about mobile engagement that is driving the ad business. How much do you see growth accelerating in a digital ad market where facebook and google are king . Jeff we are focused on the b to b components of that. We think we bring unique data and context. Sponsored content has been our Fastest Growing scale at this time. Growth drivers continue to be acceleration of engagement, engaged sessions, which generates the inventory for our sponsored content business, were seeing increase in the number of customers who are sticking around and purchasing more. Improvements to targeting. Were going to continue to develop and improve our apis. We are starting to pile off Network Sales of sponsored content as well. All of those things could contribute to future growth in that part of the business. Emily lets talk about china. You have 20 million members now, more than the 18 million a couple of months ago. You have developed a china team. When we spoke, you said that you have hardly cracked the core cracked the code, i should say. What would it take to crack the code . Jeff were going to continue to learn the best way to meet the needs of members and customers in the market as long as we are there. We started by localizing the global platform. We have been seeing very strong growth in terms of new members. We also launched the first localized application in china and recently, we saw signups growing in parallel with the core platform, which was very encouraging. We are just going to continue to learn. We have a very talented team in place, and as we continue to grow the membership, we are now increasingly turning our attention to engagement. Once that reaches critical mass, we will focus more on modernization. Emily at what point will we see the scale contribute more meaningfully to the business . Jeff it is contributing today. It is still early days. I think everyone would like self navigator and our sales solution business to replicate the success and growth trajectory of recruiter. Our talent solution business is now well north of 2 billion. It is a hard act to follow, but we had a great team in place and i feel were off to a strong start. Emily given that linkedin is becoming more of a mature company, do you need to hire some more enterprise, sales focus people who can take the business to the next level . Jeff i definitely think we have the right team in place. It is really a portfolio of products at this point. We have high growth products, durable growth products, and were going to continue to invest in those opportunities. The areas of more durable growth, we are focused more on marginal expansion. I think we have exact team in place to make both of those things possible. Emily how would you describe the macro environment . We have seen other Tech Companies take a hit due to currency issues, for example. Jeff we havent seen any Material Impact to the business. As a matter of fact, after the First Quarter, or going into the First Quarter i should say, we talked a little bit about some challenges in the asiapacific. In india, we actually saw strength across all of our business lines. We didnt really see any impact macroeconomic forces. Emily my conversation with linkedin ceo jeff weiner. Pandora is about to get louder after losing much revenue over the past year. Mark indiana governor mike pence is endorsing ted cruz for president. Ted cruz need a victory and next weeks primary after getting swept by donald trump and five northeastern states on tuesday. My decision who i am supportive. I not against anybody but i will be voting for ted cruz in the primary. The endorsement marks a setback for mr. Trump. Loretta lynch says the Justice Department has not set a deadline for the investigation into former secretary of state Hillary Clintons use of private email to send personal and work correspondence to achieve made her comments to al hunt during an interview on charlie rose. Them to do ato thorough review. We have to be full, author of, fair and independent. And we do not make predictions because that is, that cuts off the independence. Of that. We dont predict the timing of any of our matters. Mark you can see the entire interview tonight on charlie p. M. At 7 00 amdnd 10 00 toce president is en Route Washington following talks with the italian prime minister. Italy, the United States, and other countries are struggling to deal with the instability in libya that has fueled the rise of Islamic State in the country. Mr. Biden also met with pope francis as they prepared to give separate remarks on a conference on regenerative medicine. A search operation is over following a western a helicopter crash. All 13 are in board are presumed dead. The helicopter was carrying people from an offshore oil field. The their wish and aviation authorities says it is banning all similar helicopters from flying. King harald and queen sonja are chip tong their sweden because the crash. Puerto ricos Health Secretary says it the island has recorded the first zika related death. The 70yearold man died in february. U. S. Territory has received 600 zika cases. Todayent obama announced