Bloomberg Audio Studios, podcasts, radio news, single best idea on a Friday. We're supposed to slide into the holiday weekend. No we didn't. Michael Barr couldn't focus because of Bills Lions this weekend big football game. I'm rooting for the Bills and mister Barr of course with the Lions. But far more than that was a hugely anticipated conversation with Dan Ives and Gene Munster about what we're all living, which is this Mag seven juggernaut. We opened it with
all sorts of people to talk about MAG seven. Away from Ives and Munster, here is Michael Purvis of tallbacking on institutional ownership of the Mag seven. They're not.
No, I don't think they're under owned in any any significant way. Of that said, you know, if you look at a lot of different valuation metrics relative to their growth rates, you know they're a little bit more easier to own right now than I think the Russell two thousand, for example, which has been you know, everyone's favorite rotation trade, but it's simply not. It doesn't have the fundamental underpinnings there.
And I think the other thing that you have to think about as you're talking about twenty twenty five, is that there simply is sort of a higher political risk premium if you will, that's going to bleed into some of the economic forces that underscore those earnings and some of the more smaller domestic companies. So I think that that begs for the question about whether there is sort of a political risk premium, if you will, on some
of those more domestic shares. The other path of that question is is what's going to sort of, you know, blaze the path forwards next year. I'm going to be boring Tom and say it's going to be those magnificent six or seven synocks there.
Michael Purvis getting a set for the conversation with Dan Ives of Webbush Gene Monster of deep Water. Dan Ives on the path for Apple to four trillion.
It's like with Apple originally, and Jean's talking about it as well. You just looked at Apple as a hardware player smartphone. But what's been the key to the evaluation why it's gonna be the first one the four trillion dollar mark club. It's because of services. It's because so when you think about Tesla, I would compare autonomous the software FSD to Apple Services relative to that cup of
Tino story. That's why it's so important seven million vehicles out that you have ten million vehicles over next year or two. And even when you look at Waimo, which is a Google play, tho's a two hundred thousand hours.
Paul Sweeney and I look at the ceiling, going wait, the dees screen has Tesla with a one hundred and seventy two price to earnings ratio. We get a DAN. I mean we understand it as well. And of course the emotion that we see on Bloomberg surveillance sometimes I'm overwhelmed to tears gene monster on daan.
Iives it's gonna say one thing about Dan for a second before I answer that no one illustrates as a better language of kind of illustrating what goes on than DAN. So I just appreciate that at the party because that's exactly what's going on in terms of Google. Basically, the pressure point on this is I don't think it's around regulation.
I don't think anything's gonna happen there. I think it's really what happens with search, and coming back to what happened in the September quarter, I think was the most important number, that search number that Google has had in the last decade. Specifically is that they saw on acceleration in the US after one full quarter of these AI overviews. And so what that meant is by them injecting a at the top of the search results, that they were
still getting more search revenue. And that's kind of the keeps what has been keeping investors up at night. The other beautiful part about the Google story is, you know they have these other bets. I think what happened related to, you know, their quantum computing that at two hundred and fifty billion in market cap this week, that was probably a little bit of a stretch. But what they have around Weymo we can talk about in the next segment what's going on there. And re loved to to Tesla.
But I just think Google's in a great position for this AI party.
Gene Monster and Dana ives there on Technology, thank you for the huge response, particularly on YouTube nationwide and indeed worldwide today, big big international audience. Good morning to all of you on your commute. We're on Apple CarPlay, Android Auto, ninety nine one FM in Washington, ninety two nine FM in Boston. It's great to talk about the mill Hill Club today that was a few years back, and Bloomberg eleven three to zero AM in New York City as
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