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FNC’s Clayton Morris on the recent pullback in Apple’s stock and whether the company is still the coolest thing in technology.
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But let's get -- apple and Clayton -- -- Apple's walk opened higher today.
Please -- -- is taking a big drop.
705 out of 505.
Some say it's -- do within total market factors like selling ahead of the big tax increase on stock profits is coming next year.
That is also that report out of China.
Apple is only sixth in the Smartphone market over that so is the question is the Michael is apple still cool.
Clayton Morris -- cool.
Korea if -- -- -- believe -- -- put up if you Sokol got I think when you walk into an Apple Store it's hard to answer that as a metric but when you see and an Apple Store three people deep waiting in line to get their hands on the new iPad -- And win.
You have the consumer report's numbers this past few weeks ago saying that the number one requested item among teens this holiday season is an iPad.
And you still have no other player in the MP3 space and apple still coming out with great new iPods.
No one else makes.
No one no one else thinks MP3 players -- kids well.
Okay let I'm Jill -- why is apple the iPhone number six in the fastest growing and probably the biggest market in the -- that will be China.
Well I think apple hasn't.
Is it into ratings fast so we're seeing Samsung phones come out once a week -- -- -- -- Samsung phone like once every week every shot size shape and color.
You've got so you've got a lot of competition in that space but remember.
Apple wasn't doing anything in China just a few short years ago and the fact that now you have a lot of people going to the iPhone and -- -- -- -- -- -- -- is that he's not comfortable it -- two -- you've got competition now from Samsung you've got competition in the mobile space but they still are the gold standard when it comes to tablet computing.
So you have I think this is great for apple because it forces -- to make interest in decisions and to be more competitive -- And I think once a year for a phone I think we may start to see apple shift.
In this idea of coming -- and iPhone once a year when Samsung coming out with a new phone every week.
On that notion that if forces apple lose them the sort of shake up by the status quo.
You think -- all that cash is sitting on that they might be just marked the start making some acquisitions out there -- broadening you know that they're debates of offerings rather than -- to -- announce.
I think one of the things you're seeing is a competition with Google and I think that they really need to start hiring some talent that -- -- with Google's pace of innovation for cloud services.
And not necessarily in a hardware space -- -- -- of the world makes better hardware and apple.
It industrial design is top not so they don't need that engineering they need software engineering to keep up with the pace of Google.
To -- cloud services.
Work let me throw this action this this news today.
Apple's gonna spend a hundred million dollars.
Bringing some mass production right to the United States are gonna build these things in America and Obama beautiful when -- haven't done in my twenty year and I think that's good and I know that apple has been wanting to do this because this has been a thorn in the side of the capitol -- while reasons -- It's for political reasons shirts for PR reasons but it's also a thorn in the side of Tim Cook who has to go over these Foxconn -- on a regular basis to deal with worker and you know no -- no you can't -- -- to tell that this chief executive says on time they get -- planning going to I don't know but it -- about media I don't know that he -- we're getting on the plane he's tired of the negative.
Out of -- point I mean a hundred billion -- to drop in the bucket this is all simply to -- the PR war by the way you -- something very -- -- He said I'm not obligated to create a certain kind of job I'm obligated to create jobs we say -- paid you guys wanted to bring these 45 Alan Howard -- back to America it -- keep the press off my back.
I'll do it and operate these jobs that this is the job you want -- create them right you know we spent a couple of billion dollars a hundred million is -- It is a drop in the bucket and we also the we're about regulation in California gonna -- this plant in California what kind of regulations as apple -- have to deal with think no one born every good yes I mean when I'm formally Golden State's right California.
So bottom line.
Apple is still cool when you see all the teens only caring -- -- phone it's hard to argue with that all right I don't know cool as well as the teens when they're all -- -- -- -- -- -- case they're getting free iPhone four -- it's hard to compete with and they drop in the stock -- -- related -- -- selling not a lack of -- -- -- right channels.
I think that's what fact I think have been effective be quite honest with his Wall Street doesn't have the faith and Tim Cook that they had he wants ten seconds roll this video tape back in the new year this will be Apple's most profitable quarter ever blow right here on saint capitalistic back make fun of me later on saying there will never make volumes -- us of an outlook I don't know about the next -- -- you.
At that out -- -- -- yeah like thanks a lot expect the crises in.
