‘TIME TO MOVE ON’: Tim Cook’s FINAL earnings report

COALITION ASH. >> IT DOES SEEM TO BE SPREADING THOUGH, DOES IT NOT? MADISON, THANK YOU VERY MUCH. TAKE A LOOK AT YOUR MONEY AND TAKE A LOOK AT FUTURES, HAD A POSITIVE DAY OF TRADING YESTERDAY AND LOOKS LIKE WE COULD BE IN STORE FOR ANOTHER ONE ON THIS FRIDAY. KENNY POLCARI JOINS US NOW AND GREAT TO SEE YOU AS ALWAYS. LET'S BEGIN WITH APPLE. A LOT OF PEOPLE TALKING ABOUT THIS. TIM COOK SAYS THE COMPANY DELIVERED THE STRONGEST JUNE QUARTER EVER. DOUBLE DIGIT GROWTH ACROSS iPHONE AND MAC SERVICES. THE GUIDANCE WAS SO WEAK, WHAT'S GOING ON? >> THE GUIDANCE WAS WEAK BECAUSE THIS IS A SUPPLY PROBLEM, NOT A DEMAND PROBLEM. ASHLEY, IF YOU LISTEN TO WHAT MU SAYS, THEY'RE IN THE MEMORY BUSINESS, TIM COOK SATISFIES THEY'RE SAYS THEY'RE MISSING THE MEMORY PART OF IT. I THINK THE GUIDANCE IS RIGHT,S' HONEST. WE CAN'T KEEP UP WITH DEMAND. IT DOESN'T MEAN THERE'S NO DEMAND. THERE'S A TON OF DEMAND, THE POSITIVE SIDE OF THE STORY. FOR ANYONE SELLING THE STOCK, OKAY, GREAT. I'M NOT SELLER OF IT AT ALL. LOOK, CLOSER TO THE HIGHS FOR SURE, I'M NOT BUYING IT RIGHT NOW, BUT I'M CERTAINLY NOT SELLING MY APPLE ON THAT HEADLINE. >> ALL RIGHT, DOWN 7.6% IN THE PREMARKET. WE'LL SEE WHAT HAPPENS AND BY THE WAY, KENNY, THIS WAS COOK'S LAST EARNINGS REPORT. LET ME ASK YOU THIS, ARE YOU HAPPY OR SAD TO SEE HIM GO? >> YOU KNOW, I LIKE TIM COOK. I THOUGHT HE DID A GREAT JOB. I THOUGHT THAT, YOU KNOW, AT THE TIME THEY NEEDED HIM, HE STEPPED IN AND DID A GREAT JOB AND I ALWAYS THOUGHT HE WAS LEVELHEADED AND METHODICAL. I DON'T KNOW MUCH ABOUT THE NEW CEO. WE'LL FIND OUT AS WE GO THROUGH IT. I'M SURE THE MARKET WILL WANT TO TEST HIM LIKE THE MARKET TESTS EVERYBODY SO WE'LL SEE, BUT I THOUGHT THAT TIM COOK WAS GREAT, BUT I GUESS IT'S TIME TO MOVE ON. >> TALKING OF MOVING ON. LOOK AT AMAZON RAISING CAPEX SPENDING, AND THE CLOUD REVENUE SOARED ALMOST BY 37% IN THE COMPANY'S STRONGEST EXPANSION GOING BACK TO 2021. I GUESS THEIR MASSIVE A.I. SPENDING IS CERTAINLY PAYING OFF RIGHT? >> AND THAT'S EXACTLY THE TRUTH. AND LOOK, IT'S JUST LIKE WHAT MICROSOFT SAID, THEY PUT MICROSOFT UNDER PRESSURE FOR A LONG TIME BECAUSE OF THE SPENDING. NOW THE SPENDING CAME BACK AND THEY'RE MONETIZING IT. AMAZON IS DOING THE SAME THING, LOOK WHAT HAPPENED AT AWS, MASSIVE GROWTH THERE. AMAZON HAS PROVEN THAT ALL THE MONEY THEY'VE SPENT IS STARTING TO PAY DIVIDENDS SO THAT'S THE REASON THAT IT'S, AGAIN, WE OWN IT, I'M NOT GOING TO BUY IT ON THE RALLY. IF IT PULLED BACK I'D BUY SOME, BUT-- >> AS ALWAYS, THANK YO