GOOD.
THE STOCK IS UP 32% RIGHT NOW.
>>> NOW LET’S TALK ABOUT APPLE.
THIS HAS BEEN SOMETHING ELSE.
THE BIG TECH INNOVATOR LEADING
THE DOW 30, SURPASSING THE $400
MARK FOR THE FIRST TIME EVER
AFTER REPORTING BLOWOUT EARNINGS
AND REVENUE YESTERDAY AFTER THE
BELL.
TODAY, IT BRIEFLY, BRIEFLY
OVERTOOK SAUDI ARAMCO AS THE
LARGEST PUBLICLY TRADED COMPANY
IN THE WORLD AS IT HIT NEW
RECORD HIGHS.
THIS IS INCREDIBLE TO WATCH
TODAY.
APPLE ALSO SURPRISING INVESTORS,
THEY DID A FOUR FOR ONE STOCK
SPLIT WHICH IS GOING TO HAVE
MAJOR RIPPLE EFFECTS ON THE DOW
JONES INDUSTRIAL INDEX.
IN FACT, THE DOW TODAY, IF IT
WEREN’T FOR APPLE, WOULD HAVE
160 POINTS WITHIN IT.
APPLE HAS BEEN THE DOW’S LARGEST
COMPONENT SINCE APRIL 29th, WE
SHOULD ADD.
IT’S NOW GOING TO DROP BECAUSE
OF THE SPLIT.
THE SPLIT IS SET TO GO INTO
EFFECT AT THE CLOSE OF BUSINESS
AUGUST 24th.
NOW, THE CROWN OF THE LARGEST
DOW HOLDING ONCE THE SPLIT GOES
INTO EFFECT WILL BELONG TO
UNITED HEALTH CARE.
IF I HAD A DRUM ROLL, I WOULD
HAVE ROLLED IT IN.
SUSAN LI IS IN THE FOX BUSINESS
NEWSROOM WITH MORE ON THE BIG
WEEK FOR SOME OF THE BIGGEST
NAMES IN SILICON VALLEY AND IT
WAS A BIG WEEK.
SUSAN: YEAH.
THE TAKE-AWAY IS THAT THE BIGS
KEEP ON GETTING BIGGER AND
WINNERS IN CORONAVIRUS AND
IRONICALLY, THESE BIG NUMBERS
COMING OUT JUST A DAY AFTER THE
CAPITOL HILL HEARINGS WHICH
ARGUED THEY WERE ALREADY TOO BIG
AND HAD TOO MUCH CONTROL OVER
OUR LIVES.
AS YOU MENTIONED, APPLE LOOKING
AT SESSION HIGHS HERE, NOW
OFFICIALLY THE BIGGEST COMPANY
ON PLANET EARTH, TAKING OVER
FROM SAUDI ARAMCO.
WORTH AROUND $1.7 TRILLION AND
CHANGE, ADDING ROUGHLY $100
BILLION IN ITS MARKET CAP, THINK
OF ADDING CITIGROUP OR STARBUCKS
TO ITS ALREADY LOFTY LEVELS.
RECORD JUNE QUARTER, iPHONE
SALES GROWING ONCE AGAIN WHICH
IS GOOD, AND THAT’S THANKS TO A
CHEAPER iPHONE SE THAT WAS
LAUNCHED IN THOSE THREE MONTHS
AND THE BIG ANNOUNCEMENT WITH
APPLE SPLITTING ITS STOCK FOUR
FOR ONE.
FIFTH TIME IN ITS HISTORY, FIRST
TIME IN SIX YEARS SINCE THE 2014
SEVEN FOR ONE STOCK SPLIT.
I ASKED WHY THEY ARE DOING THIS
NOW.
THEY SAID LOOK, WE WANTED TO
MAKE IT CHEAPER SO MORE PEOPLE
CAN OWN IT.
IT DOESN’T CHANGE THE VALUE OF
THE STOCK.
THE ONLY THING IT CHANGES IS THE
LOWER INFLUENCE APPLE HAS ON THE
DOW JONES INDUSTRIALS WHICH IS
SHARE PRICE WEIGHTED INSTEAD OF
MARKET CAP WEIGHTED LIKE THE S&P
500.
THE LAST STOCK SPLIT BACK IN
2014, APPLE STOCK RALLIED NEARLY
8%.
SOME PEOPLE ARE PREDICTING THAT
TO HAPPEN THIS TIME AROUND AS
WELL.
SPEAKING TO TIM COOK ON EARNINGS
YESTERDAY, HE POINTED TO THE
OPTIMISM IN THE U.S. ECONOMY,
TELLING ME THAT HE’S STILL
BULLISH BECAUSE WE WENT INTO
THIS VERY STRONG, HE SAYS, AND I
THINK MORE STIMULUS IS REQUIRED,
BUT I’M OPTIMISTIC THAT WILL
OCCUR.
YEAH, I DO THINK THAT WE CAN
HAVE A STRONG BOUNCE-BACK AS
LONG AS WE GET A BOUNCE-BACK I
THINK THAT’S BENEFICIAL TO
APPLE.
FACEBOOK HAD A BETTER QUARTER AS
WELL WITH THE BAR LOWERED OWING
TO COVID AND THE ADVERTISER
BOYCOTT.
REVENUE GROWTH SLOWEST SINCE ITS
2012 IPO, MONTHLY ACTIVE USERS
CROSSING THREE BILLION.
THAT WAS GOOD.
THEY ALSO SAID ADVERTISERS WERE
COMING BACK AFTER THAT BOYCOTT.
AT LEAST THE BOYCOTT FOR JULY.
THAT INCLUDES THE LIKES OF
HEINEKEN, PUMA AND NORTHFACE.
ZUCKERBERG MAKING NEWS AS WELL
ON THE WORK FROM HOME FRONT.
LISTEN.
>> FROM A HEALTH PERSPECTIVE,
WITH COVID GROWING QUICKLY IN
THE U.S., THERE’S CURRENTLY NO
END IN SIGHT FOR WHEN OUR TEAMS
HERE WILL BE ABLE TO RETURN TO
OUR OFFICES.
IT IS INCREDIBLY DISAPPOINTING,
BECAUSE IT SEEMS LIKE THE U.S.
COULD HAVE AVOIDED THIS CURRENT
SURGE IN CASES IF OUR GOVERNMENT
HAD HANDLED THIS BETTER.
SUSAN: AMAZON, MEANTIME, RECORD
SALES IN THE QUARTER AND PROFIT
DOUBLING TO OVER $5 BILLION,
EMPLOYING OVER ONE MILLION.
AMAZON PRIME DAY, BY THE WAY,
DELAYED UNTIL THE FOURTH
QUARTER.
FINALLY, ALPHABET, BIT
DISAPPOINTING, THE PARENT
COMPANY OF GOOGLE, WITH ITS
FIRST DROP IN AD REVENUE IN THE
COMPANY’S HISTORY.
THEY ARE BUYING BACK MORE STOCK,
$28 BILLION WORTH, IN
REPURCHASES, LOWER COSTS, CLOUD,
WERE THE BRIGHT SPOTS BUT AS I
MENTIONED TO YOU, THE BIGS KEEP
ON GETTING BIGGER AND THE CASH
PILE AT APPLE, $194 BILLION,
THAT ON ITS OWN WOULD BE THE
29th BIGGEST COMPANY IN THE S&P
500.
CHERYL: IT IS INCREDIBLE WHAT
APPLE HAS DONE.
THE CONSUMER PRODUCTS SIDE OF
THE BUSINESS REALLY STAYING
STRONG WHICH IN THIS
ENVIRONMENT, YOU HAVE TO GIVE
CREDIT TO I’M THE COOK ON THIS.
SUSAN: YEAH.
I SHOULD POINT OUT, NO GUIDANCE
AGAIN FOR THE SECOND STRAIGHT
QUARTER FOR APPLE.
CHERYL: WELL, GUIDANCE WOULD BE