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This is how you roll when you're a gentleman on a certain agent on Wall Street Friday, blue jeans, popper shirt, blue blazer, solid I love it. And this guy comes in and blows up the entire studio. I mean, there were clashing in so many different directions. I don't even know where to go. But Dan Ives is here. He does all the tech stuff for wet Bush Securities. Dan, you've been busy this week. We've had a ton of tech earnings. I just want to start with Apple last night.
The iPhone seventeen is a thing, isn't it.
Look it's a surprise upgrade cycle. I mean that's the reality. And for so long we've always talked about, you know, these upgrade cycles, a potential supercycle, and this is a surprise upgrade cycle. And I think especially what we're seeing in China, well, China was a decliner. Now you start to see that increasing year of a year. That's something
streets coming up in terms of numbers. The New York City cab driver's embarrassment Apple six to nine months, So that's this is a bullish scenario, especially leading into what I believe now will be the year of AI. Ultimately Google partnership for Apple seventy five hundred dollars.
Let's go back to that. What is Apple's AI strategy going to be or should be?
Do you think today it's invisible? Right today? In the AI party that started at nine pm, it's now ten thirty pm. That party goes to four am, cook an Apple. They're on the outside, looking behind the velvet ropes. They're looking through the party through the window. But what I believe they're going to do now once Google won that DOJ suit, that clears the road for them to do a significant Gemini partnership where ultimately the consumer AI revolution goes through Cooper Tino.
Well, look, we're talking AI spend. We've got to talk Meta because they're the complete opposite of Apple. Right, they're just throwing the kitchen sink at AI right now? But Wall Street are they approving of the spending Meta is doing in that space?
Look, in my opinion, it's a table pounder when that stocks sold off. Yes, because my whole view is this is an AI arms race. You want companies to spend now, Look, free cash for earnings obviously gets hit. But the reality is is that this is a fourth Industrial Revolution. And you want all these coming from Microsoft to Google to Meta to what we see with Amazon. But guess what they're fueling the AI revolution. That's obviously bullish for Nvidia,
AMD and others. I love what Meta's doing. I think it's a four digit stock, and I think what you're seeing now it's spreading. Look at Amazon. Finally, Jassey saying, don't forget about us. It just shows in street continues to underestimate the scope and scale of this fourth Industrial Revolution.
So and Alexa saw yesterday Meta the stock did sell off. They went out and I sold thirty billion dollars worth of bonds, had one hundred and twenty five billion dollars demand what I was doing? That business a five or ten billion dollar deals were monster?
Right?
Thirty billion and I bet you had made five phone calls last night and sold that deal.
I bent you.
That's what happened. Dan, Talk to us about Amazon. Boy, that stock's up twelve percent pre market trading. Here. Talk to us about where they are with their cloud business Visa v Microsoft, Visa v.
Google.
Where's the cloud horizon for Amazon.
For the last few years? Right, if you look at the top of that mountain, it's Microsoft and Theadela and then of course Google what they've been done with GCP, and that's been huge, the rerating that we've seen with Google. But if you look at Amazon outside, looking at right, I mean Jase, even though he's in AWSK, I really anthropics been the opportunity underwhelming last night. I think it's an inflection point quarter for Amazon. I think this now is going to change the view of Amazon when it
comes to the cloud. Pyes, school some of the parts. That's how you get the three forty three and fifty dollars stock And this is a very very important quarter for the two mag seventy. If you think about Apple and Amazon both sort of like they're sitting at the table by the kitchen, like at the wedding, like with the random friends they get at that random table. They want to be at the cool table. Now they're there.
Look, there's so much to talk about with Dan ives right, because you just I just I want to tick through some of these things we have you here in studio Tesla. Are these shareholders going to vote for this huge compensation package November six or Elon.
Musk there's a better chance to me not eating chocolate sour patch kids tonight. Then this thing actually getting voted down. I mean, the point is this thing is getting one hundred percent getting voted for. The reality is that Musk is Tesla. Tesla is Musk. He's a wartime CEO. Right now, you need him in this Ai chapter. And then also I think they'll they're going to vote for the XAI ownership piece, which speaks to Tesla isn't a on it. It is an autonomous and robotics play. It is not
about deliveries. In my opinion, I think that's why this is so important for shareholders when it comes to Musk.
All Right, we got it before, we let you go Happy Valley. Turbulent times in Happy Valley, Penn State we have we don't have a coach, but boy is at a good seat. What do you think Penn State's going to do in terms of hiring it.
Look, in my opinion, it's the number And obviously you can say bias, I think, especially after the LSU governors think, I think it's the number one coaching spin in all of college football above Florida. To me, you know, Paccraft, there's no better athletic director. I think right now in the world than him, and I think they're gonna go for Elka at Texas and m I think you go for Clark Lee at Vanderbilt, manny Da Potenti, Sha Brahm
and others there. Look, this is it's obviously been a very very you know, disaster year, but it's our view we need the right person to ultimately take us to the next level.
There you go, Dan I very he's a proud Penn State alum, very involved in the athletic department there at Penn State. And I think he also does some tech research on it.
And he looks like Florida, the state of Florida walking badly badly.
It's a total side there. Guys like Sweeney, they're the ones that give out the full chocolate bar for Halloween. So that remember that continues to be you know, obviously someone that many none of the many can you can't do you can't do many.
Thanks so much for joining us. We really appreciate it. Dan I's global head of Tech Research and Web Bush Securities