Rebels Edge · Thu, Jun 25, 2026

Micron Ignites an AI Rally… Then Apple Changes Everything

Summary

John and Pete Najarian discuss a volatile market session in which strong Micron results initially lifted stocks before Apple's comments about rising costs triggered a reversal and subsequent rebound. They also cover cryptocurrency weakness, AI infrastructure demand, a reported Merck acquisition, and Qualcomm's outlook before turning to sports.

The hosts attribute the initial rally to Micron's earnings and guidance, highlighting strong data-center memory demand.
Apple's comments about passing higher costs to customers reportedly sparked broad selling before stocks recovered.
The VIX traded roughly between 18 and 20 despite sharp intraday market swings.
Bitcoin and Ethereum remained weak; the hosts discussed bearish Ethereum prediction-market positioning.
In their Z squared spotlight, the hosts highlighted a proposed power-related acquisition and disclosed that they are paid advisers with an investment interest.
The hosts discussed a reported Merck acquisition of Bio-Techne and its potential benefits for investment-banking activity.
Qualcomm's revenue opportunities reinforced their constructive AI outlook, while power availability and permitting remained key data-center constraints.
The sports discussion focused on tight-end compensation and baseball's payroll and television-revenue disparities.

MU AAPL HOOD MRK TECH QCOM

Full transcript

Welcome back to the final Rebels Edge of the Week. I'm John Nagarian. My brother Pete joining shortly and we're going to be talking about whether or not Micron was able to lift the entire market. And we have the answer and it is yes. But there is uh a little comma and then a
couple dot dot dots. And we're going to fill in those dots for you on today's Rebels Edge.
>> [music] [music] >> Bang. How are you doing, Pete?
>> I'm doing good. How is the uh I imagine you're getting closer to the end of the uh the boat cruise or whatever.
[laughter] >> Yeah. And uh my liver is thanking me for that [laughter] because it's having to process an awful lot of chateau to pop beats. [laughter] >> Say that three times fast. Chateau nuof to pop Pete. [laughter] >> Not gonna not gonna happen for me. It's
going to go somewhere bad.
>> It probably won't happen for me after about nine o'clock tonight either.
[laughter] But uh well, let's dive right into macro. Pete, as you know folks, we only do the show Monday, Tuesday, Wednesday, and Thursday.
>> Although Pete, we might actually have a couple sponsors, eight sponsors lining up for the uh TV version of the Rebels Edge.
>> So, we hope to bring you more news on that next week.
>> But in the meantime, uh big reversal today, Pete. Uh Micron did indeed do what we thought it could do which was they reported fantastic earnings. U and once again if the demand is higher and
the supply is the same prices are going up and that was great news for about an hour and a half [laughter] and then uh Apple all of a sudden says yeah well the fact the fact that uh prices are going up is great for them.
it ain't great for us and we're pass on the uh uh cost to our customers. And as soon [clears throat] as Apple said that, Pete, everybody went hands out for anything that wasn't just one of those chips that was making the memory and they sold the NASDAQ from a 1% gain to a
3% drop, but then it came roaring right back. How do you figure, Pete?
>> I'll tell you what, John. I've not seen the markets make the kind of moves that it made uh like it did today early on specifically. Um I can't remember ever seeing anything quite like that. I It was absolutely all over the place, right? I mean, the selloff looked legit.
It looked like, okay, well, great numbers for Micron, not for everybody else. And now move to the downside. But that didn't last very long. As a matter of fact, it didn't last very long at all. The next thing you know, they start buying again, right? we we get the the Dow starts to move back up into, you
know, positive territory in a big way and the NASDAQ starts to actually eat up a little bit of, you know, the the sell-off that it was making, which was pretty substantial. So, amazing, yes, volatile, yes. I mean, you know, you know, check just about every box, but I I think you you uh explained it very
very well. I think Micron was certainly the catalyst and that catalyst when it starts rubbing up against something like an apple that uh that does change things a little bit just about everywhere. So yeah, very very interesting start to the day and um things are starting to calm down a little bit now, John. I I think
but uh you know you never know as the day goes on suddenly there somebody might say something that that triggers another something in this whole world that we're looking at. So interesting for sure and a crazy start for the day.
>> Yep. Well, the uh trillion dollar club, which has four members, Micron is one of them, folks.
>> Um that trillion dollar club uh pushed the market to the upside and then when Apple, also a member of the trillion dollar club, fell, >> it really triggered a lot of uh selling, Pete, across the board, just like you're saying. So, we'll keep our eye on exactly what's going on and see whether
or not >> we can uh find some great opportunities because sometimes when they sell it that fast, it creates an opportunity and I wish I would have bought on that drop today, Pete, but I didn't.
>> All right. What happened with the VIX with all that up and down and up in the market?
>> Well, you know, it's interesting, John.
Um, pretty calm relatively speaking. I mean, you're you're looking at it and we've been so volatile of late and a little bit wider and wider and wider range. So, I would say really wasn't crazy, but at the you know, it started off a little hoham. Here we were, the VIX was trading around 18. Next thing you know, all of a sudden, we get this
big spike and then next thing you know, it pulls back again. So, interesting to watch how the volatility index itself was moving around. Um, for all the right reasons, by the way, because the S&P was really flying around just like the rest of the market. You know, it got hit pretty hard, but then it started to make a nice move to the upside. I think that
because of that, there's a little extra something in the VIX today that's holding it up where it is right now, John. But understandably so, basically, right? I mean, but the range, call it 18 to 20. Um, still a decent range, but interesting because at any moment, at any moment, I think we could see this
thing spike right back up to 20 or start to maybe get easing back towards 18 because of the fact that we're getting close to the weekend, right? It's Thursday and uh, you know, we got one more trading day. So, interesting is probably the best way to describe what this market has looked like in the first
couple of hours of the day.
Well, uh let's talk a little bit about the month of June and Ethereum peep because what price will Ethereum hit in June? Um we saw a big jump as Ethereum fell today among other days. It's been
weak. Uh but basically the heavy money is on the basically under 1500. Uh but it's still there at the 1400 level too as you guys can see on your screen.
about 20% of the bets right now are coming in uh that it'll be under 1,400.
That's about a $400,000 bet. The uh 1,500, in other words, 1,400 to about 1,500 um is where the majority of the money is right now. But uh man, these cryptos, Pete, have been weak and weak and weak.
Well, and we established today today um with Bitcoin, John down there all the way down at 58,121.
I mean, so uh it's just something that's that's remarkable. And it, you know, one of the stocks that used to follow this pretty closely. I think it probably still is to some degree, but uh Robin Hood has been one of those names where, you know, and you take a look at the charts of Robin Hood, you see that thing, the way it's move, it moved up in a big way when we had some some great
numbers that were going on. And you know, obviously the the 52- week range was a lot closer to the high end of things, but u that movement has been absolutely incredible. And there's there's quite a few different stocks that seem to follow pretty closely along with that. So, you know, looking at at at some of those things that you're talking about there with uh Ethereum,
interesting, and looking at what's going on with Bitcoin. I mean, Bitcoin under underneath 60,000. I'm not really hearing anybody on TV talking much about that either. I, you know, they talk about this, talk about that, which I understand. Micron big story, Apple big story. You know, the markets themselves, but I don't hear people talking as much about what's going on in that world,
John, the Bitcoin and Ethereum and so forth. So, um it would be interesting to hear what some of the the folks want to say about that right now because I'll tell you what, um Bitcoin's in a bit of a freeall right now and it and it's going to be interesting to see when does that actually finally turn because maybe
maybe it continues down and establishes even lower numbers for the 52- week. So, interesting to see where we are right now.
>> It could absolutely do that. Pete. Well, let's uh let's talk a little bit about small cap spotlight. And this is a a part of the show where we get to tell you about what's going on in some small cap stocks. In some cases, this happens to be one of them. Pete and I are
definitely involved with this stock. I believe we're both adviserss to the board, paid adviserss. Um but ZSQR Pete um they entered into a binding letter of intent to acquire a majority
membership in an interest of Paradox Data LLC. And uh the deal is basically $5 million. It's going to be a convertible preferred stock. And the reason that we think you guys should know about it is it's uh basically uh
about megawws of power that they can deliver and that they need as a data center. And so when you look at what they're doing, Z squed folks, it used to be um a minor. Um what they use uh that compute for these days is they're an
infrastructure company that offers uh basically uh their compute to the AI infrastructure, meaning that they're a data center player. And as soon as they said that, the stock started to get giddy, Pete, and [music] getting more power, which is something that they
need, of course, uh, every data center does. But the reason that these guys, I think, are so successful right now, is number one, they've already got the permits, they've already got the acreage, they've already got the power, and now this deal with Paradox gives them even more power, which means, of
course, that they can run more compute.
So, um, basically they're going to be able to support in excess of 150 megawws of on-site power generation. And that's important. Um, when you talk about, you know, Colossus with Elon Musk, you know, that's the biggest that there's ever
been as far as a data center. But people like Kevin Olirri and other folks are trying to make competing really big data centers. But what they don't have in many cases are the permits, the fact that it's going to take you years to get that permitting through and then you need the power. Well, these guys just
locked up some more power, Pete. So, that's why it's so positive. Um, I know you and I um this is all public knowledge, folks. This came out in the uh disclosure um early this morning or late last night. And that's why Pete and I were kind of smiling because one of our friends who's with the company, Jim,
I'll spare his last name, but Jim was saying, "Did you guys see what just happened?" And we [laughter] said, "Yep, we did." And we're going to cover it on the small cap spotlight. Yeah.
>> So, once again, you guys should know that uh we are paid uh consultants to the board. Uh we love the company and uh always do your own work. Don't just buy it because Pete and John are in it, but um I think it's a great company with a lot of upside here, Pete. And I know you feel the same.
>> Yeah, no doubt about it. U they it's just really wellrun. Um and I think that they understand as much as anybody out there on where this could go into the future. So yeah, uh I think this one's very interesting and u and we're just, you know, we're we're fortunate enough to to be those the folks that are a part
of this whole thing. And you know what?
It's going to be a a big deal, I think, and it's becoming a bigger deal all the time for so many, John, in this world.
We talk about data centers all the time.
You hear it on TV all the time. U these guys are right there in the thick of things.
>> Yep. Yep. On the East Coast and Carolina and so forth. Pete's even already been down there to visit them. Um I haven't been there yet, Pete, but I'm going to.
So, uh, anyway, that's our small cap spotlight for ZSQR, which is known as Z squared.
>> All right, Pete, let's talk about Micron. Yesterday, you said, "I think they're going to beat. I think they're going to um give some positive guidance." They did both and uh they said they expect adjusted earnings
between 30 and 32 a share. uh well above the 27 or rather the 2572 level that people were estimating. So this is pretty much a blowout quarter for them.
They were up as much as 20% Pete. They pulled back a little but still this is you know sales to data centers just what we were talking about except these guys don't provide the power they help provide the compute for data centers.
>> Yeah absolutely John I mean they couldn't have crushed it any better than they did. I mean, absolutely incredible.
You look at what happened in Q3 and also what the expectations are for Q4.
They're looking at 30 to 32 bucks. It was estimated at about $25 uh or more.
25 and a quarter and three/4ers, I should say. Um it's just an amazing quarter. Now, that's amazing for Micron.
It's probably a little bit fearful for some of the others and I know we're going to talk about that as well, but the expectations were extreme and yet they still managed to get over the top of that. So, uh, Micron is really flying pretty well. You saw that chart. The chart itself speaks for itself. I mean, this is a stock that was up what, uh,
14, 16, 18%, whatever it was, John, and then pulled back a little bit. Now it's kind of somewhere between, call it 10 and 14% maybe. It's a pretty nice little range that it's in. but nonetheless higher. And this is really really impressive to see what they're holding on to right now.
>> Yep, it surely is. And uh um I know we've had in the past, Pete, strong buying activity, but folks, believe it or not, that buying activity was at 300, at 400, and so forth. Um, the stock's now over $1,100,
$1195 a share, and that's this year. In April, you could have been buying it with a 300 handle, and now it's $11.95.
Just an amazing move. All right, let's talk about Merc Pete and what they're doing with this biotechne.
Um, because they're going to buy them.
Apparently, this tee is the symbol for biotechnne. And they're going to pay, I guess, 73 bucks a share, Pete, or about $11 billion. Just another deal that's going by. And I know what Pete's going to say. He's going to say something about those investment banks that are going to be behind this deal, right,
Pete?
>> Well, you know what, John? We talk about this all the time. I mean, think about this. an 11 billion dollar deal and you've obviously going to have investment banks being a part of this thing, doing all the, you know, the pushing of the paper and everything else that they do. But, um, absolutely incredible. It just feeds right in. And
by the way, we are just weeks away from kicking off the next quarter of earnings, starting off with the financials. So, we're going to know a lot more. We're going to know a lot more about how strong things were. We already know this, but SpaceX and how things look with with something like this. It's a it's a really really interesting move
by Merc. And by the way, the way Merc is trading post this 11 billion deal that they're doing, John, which is, you know, a premium of about 36%. What really is impressive to me is Merc's up. Last I looked, Merc was up about 3%. So, when you're making that type of a big buy
bite into something and you're buying this company, um, that tells me that they're doing something very very right and and people are pretty excited about what they're doing and it just adds to to what they've got. It broadens their life, broadens their life sciences and so forth. This is really great for Merc on top of the fact that obviously, you
know, biotechny's probably feeling pretty good about the numbers that they hit.
Well, I'll tell you who's not feeling so good, Pete. That's Apple. Um, and anybody who wanted to buy a new Mac, like the MacBook Neo, for instance. Um, they say there's an unprecedented, that's the word they used, unprecedented shortage in memory. And that's why
Micron's doing so well. That's why Seagate is doing so well. That's why Western Digital is doing so well. all these companies that provide um memory which has to go into the computer of course and helps it work faster. Well, a lot of those stocks are really happy.
The companies that have to buy the memory in order to place it into a MacBook Neo or whatever it might be, MacBook Pro, any of those things, um they're going to have to raise prices.
And that when they said that, Pete, that market turned on a dime on that. Just like we said top of the show. So everything Apple makes has that kind of memory in it. Some of it they can design and make themselves. They've been talking about it and doing it now for
years. But they also need other stuff, Pete. And the other stuff is more expensive. So they got to either pass it along or eat it. And they said, "Let's pass it along." >> Yeah. Yeah, they did. That's exactly what they did. They're passing it along.
John, I was looking at, you know, all the different things from the iPad to the iPad Air and all the rest of it, it's they're up anywhere from a hundred bucks or more um for the charge there.
The interesting thing that's going to happen, I think in the fall, and I think you covered it pretty well already, John, but in the fall, what happens?
Well, that's when Apple brings out the the latest and greatest in the iPhone world, too, right? I mean, and all that type of thing.
>> And what will that look like? Are they going to change the prices there? um you know that that could be pretty interesting and it could be impactful on Apple in an in a potentially negative way. So, we'll see how things really play out. I mean, it it's something that maybe their numbers are so good in that
particular category where they can uh maybe eat it a little bit themselves, but um I kind of doubt that. I kind of have a funny feeling, John, that some of those some of those phones and so forth, those numbers are going to start kind of creeping up just a little bit. We'll see. It's down five or six% today based upon, you know, some of those numbers.
So, we'll see when it comes to fall, which is not that far away. I'm not trying to get rid of summer, which we're just kicking off, but, you know, September is not that far away and that's when we're going to start hearing more and more from Apple and about what what everything looks like and will they raise prices for the phone. That's going
to be very, very interesting.
>> Yep. And Apple's down about 5% today, folks, on this news. And like Pete said, God knows how many handsets they'll sell, also known as iPhones. But, uh, could that be crimped, that number?
Could it be coming in lower than people expected because of perhaps, even though they didn't announce a price hike yet for the iPhone? Aren't they probably going to have to for that? And my answer is yes.
>> Yes, [laughter] >> they're gonna have to. All right, Pete, what about Qualcomm? Qualcomm um surged.
The company basically revealed updated revenue targets uh stemming from what else? Data centers. It seems like that's all we talk about today. We talked about Z squared data centers. We talk about Micron data centers. We're talking about Qualcomm data centers. I mean all of
this is centered around data centers.
And there's a reason why Anthropic and Open AI are going to be two of the big hot IPOs this year behind SpaceX. And uh guess what? They need data centers.
[laughter] >> Yeah. No, you're exactly right, John. We we they talked about revenue and the targets they've got and they're talking about obviously the data centers and so forth. And you know, it's interesting.
They also have some pretty strong revenue in other areas as well. And specifically, I would say maybe automobiles or something like that if you want to pull something out. But the total addressable market is uh amazingly strong and increasing. So when they've talked about their earnings and expectations uh are still looking pretty
strong. It seems like people jumped on that this uh the news of this story, John, and they liked it pretty good.
Last I looked, Qualcomm was up, I think, as much as 10%. So having a pretty solid day, I would say a You know what? You've got Micron having what's now looks like a pretty dangon good day and Qualcomm as well. But you know there are some losers in this thing just like you and I just talked about with Apple. So it's not
everything is a bed of roses but u certainly in the memory space and and and some of the other spaces there's still a lot John that people are pretty excited about. And you know what? For all those who kept saying about AI being dead last year, last year, not like like earlier this year or whatever, but a
year ago, telling everybody, "Oh god, oh Jesus, the AI thing is ready to collapse." Well, if you did that, you've missed a pretty good hell of a run now.
[laughter] So, it'll be interesting to see where a lot of those folks go to now as we're seeing all of this come out and the numbers that we're seeing. It just continues to be a pretty strong AI world that we're living in, John. And so until we see some of those some something that tells us anything different. Um I think
it's still okay to be long.
>> Yep. I would say I would say you're right, Pete. And in particular, um again, where is the demand? Data centers. Yeah. Um, you got to understand folks that permitting and tying up an energy contract to provide the energy for the compute, those are two critical
things and both of them take a while >> to work out. Um because a lot of communities don't want the data centers if it's going to cause the community to have to pay 30%, 40%, 50% more for their electricity to cool their home or to
heat their home or whatever it might be.
So anyway, we'll keep keep making sure that you guys know uh that this is a a very many inputs into it from compute to
energy um and so forth. So anyway, Pete, I know it's World Cup time and uh I I I have seen some fantastic plays. We showed you guys Messi's hat-tick last week. I want you to watch this crazy dude because Pete, everything from
roundhouse kicks to everything else. I mean, watch this guy. [laughter] That didn't look good. But look at how high he is up in the air when he's making these kicks. Or this header here.
I mean, just amazing. This This guy is a heck of an athlete. And watch this one, Pete.
>> Yep. I mean, >> it's like Ted Lasso.
>> Fires a laser. Yep. [laughter] fires a laser into the corner of the goal and so forth.
>> These guys are amazing athletes. You know, even a a guy like me doesn't appreciate it enough, right? I I don't watch enough soccer to appreciate it uh what these guys look like. But when you see some of these highlights, it's like, holy crap, these guys have the athleticism to do a heck of a lot of other things, you know? And I'm not just
talking about going to the NFL and being a kicker. I'm talking about what these guys look like when they're on their own field and doing their thing. And that guy, he looked big enough, John. I I'll tell you what, I'd have that guy somewhere. I've, you know, if you could talk him into, you know, coming over into the NFL if he there's probably a space for him somewhere because look at
the athleticism of that guy. It's unbelievable.
>> Oh, yeah. Just amazing. [laughter] >> But good luck trying to get that guy. I think that guy's a little pricey.
>> Yeah, they're probably get You know what? these guys get huge, you know, the numbers there around the rest of the world with the TV and then obviously in front of people and everything else.
It's amazing. You know, we just we're still kind of grasping this whole thing, I think, in the United States. I mean, yes, people go to the soccer. I get it.
But compared to the NFL, John, uh, nope.
[laughter] But that's why these guys are brilliant because they're making huge money, right? I mean, some of these guys, it's it's ridiculous money what they're making just like it's ridiculous in the NFL. But if you've got any kind of ratings on TV and you're getting people there in person, uh, pretty damn nice.
Not so bad. Hey, I'm ready to jump into the NFL for us now, John, if we want.
>> And I'm going to say this. Um, tight ends deserve to get paid. And they're starting to get paid in a big way. And I and and I'll I'll throw something out there at you and I'll see what you think about it in a second, but here's here's who the the the top five tight ends in
the NFL with Price and everything else right now as we speak. And and I'm talking about how great they are along with the numbers. Brock Bowers, Raiders, Trey McBride, Cardinals, George KD 49ers, Travis Kelce, Chiefs. That's starting to drop a little bit though.
And and Jonno Smith for Miami. And the one thing that that slid into there this past year, 2025 season, Leaporta Leaporta got in there. Jonno Smith is out. Travis Kelce dropped down. But here's the thing. You've got 20 wide receivers who got more than a thousand yards last year. How many receivers do
you really need? Do you need receiver?
You know, like I I look at it, John, like there's an abundance of wide receivers, I think. So, if I were a GM of a team, of course, I want to have some of the best receivers that I can get, but are they that different? Number one versus number 20 or number five versus number 15 and all the rest of that, you know, going through that and
maybe even going lower than that. I think the tight end, and you and I were linebackers in the NFL. So, what do they tell you in the NFL about tight ends?
Two, still to this day, by the way, don't worry about the tight end. get back a little bit deeper to try to protect against the receiver. And so these tight ends, they can now run like wide receivers. A lot of them are are big beyond words, but they can run like a wide receiver. They can run the same routes. And I'll tell you what, I think
people are are missing the boat on this whole thing that the tight end is a bigger and bigger and bigger part of the NFL every single year. And so I look at this and I look at the Atlanta Falcons and they decided to give Kyle Pittz a three-year 54 million contract. He's making $18 million bucks a year. Sounds
huge, but next to the some of these wide receivers that are out there, it's really a long shot away. So I I just think and I'm curious if you agree. Do you think that they ought to just say, you know what, I'll take a number 20, number 25 type wide receiver. I'll put together three or four or five of those
guys. You know what? Maybe I get one or two tight ends out there that can run run around out there and catch enough balls as well because these guys, some of the numbers, John, are just literally off the charts how much they how well these this kid McBride from the Cardinals. I mean, he's up there with the wide receivers for the number of catches, the number of yards, and
everything else. I'll tell you what, I would build the team. I'd start with the running backs, but I'd go over to wide receivers and I'd say, "Well, I can get, you know, a number of guys for the for a lot less money and let me get a couple of more tight ends on the team." I mean, it it seems like the NFL is starting to move there more and more. What do you
think of that idea?
>> I like it. I like it a lot, Pete. I mean, you said McBride, he's 19 mil, >> and that was a new what, $76 million four-year contract, 43 mil guaranteed.
Um, KD still the number one.
>> Um, just slightly more than that.
>> Um, but only 35 million of his was guaranteed. Um, but Pete, your guy Hawinson, >> yeah, >> for the Vikings that you guys got out of a was it out of a trade, I think, right?
Detroit.
>> Got TJ Hawinson. Was he with Seattle, Pete, or where was he?
>> I thought he was either Detroit or Green Bay. I think it was Detroit.
>> Oh, well, he's getting 16 and a half mil.
>> And you know, these guys, uh, if you use them correctly, like obviously Tom Brady did. Um, you can get a heck of a lot of production out of these guys. Pete said Terry McBride has wide receiver kind of numbers. He's absolutely right. 1,200
plus yards last year. Um they targeted him 169 times and they hit him 126. And now that quarterback is on your team, Pete.
>> Now that quarterback is on the Vikings team. Yeah.
>> Um so, you know, and he's got another good tight end like we just said, Hawinson. So, I think this is uh an overlooked area all the time in college and pro sports uh for football. That is that the tight ends should be um your
your go-to folk, your your your go-to guys most of the time. And as soon as you get the linebacker covering the tight end, it keeps that hook wide open in the middle of the field. Pete, >> absolutely. Yep. Spoken like two linebackers. Hey, um, Major League Baseball, we'll just hit it real quick,
John. The New York Mets, they got a $380 million payroll, okay? They stink. They are as bad as it can get. And so then you start looking around a little bit and who's sitting there at number two.
You know, it's it's really actually not the Yankees. Take a look at the Milwaukee Brewers. Now, you know what theirs is, John? 126 million. So they're 126 million. They've another 300 or 240 million and they can get up there where the Mets are paying right now. The payroll for the Dodgers is a little bit
different. They're getting their money's worth there. Those guys actually they packed the stadium. They're paying, you know, big money to have their guys. The Yankees pay big money, but they get it back. But, you know, you just wonder. I sit there and I look at the Milwaukee Brewers and you and I have talked about this uh pitcher that's unbelievable,
right? He's throwing the ball 104, 105 miles an hour and all the rest of it and he's amazing. And how long can they, you know, hold on to him? Well, I don't know. But again, I find it really, really interesting. If you're paying the kind of money the New York Mets are paying, at what point in time is is the
owner, and you and I both know who the owner is. There's a whole program, billions about him. It's pretty damned interesting, right, that they're paying that much and they stink so bad and then all of a sudden you look over at Milwaukee, John, and they've built a a really solid franchise in in Major
League Baseball. So, I you know, somebody needs to I'll tell you what, if you're at the Mets, whoever is choosing these players might need to start really thinking this thing over pretty good because if I'm the owner, these guys are gone, you know. But what do you think?
Well, like you and I always say, Pete, about baseball, that is, >> they don't share TV money. The only time they do is World Series andor the Sunday Night Baseball. I think that's the only time they share. So, if you're the Yes Network and you're the Yankees andor the
Mets or if you're the, you know, Dodgers, you're making money that Milwaukee cannot make, right? they can't make that money because there aren't enough people that care about Milwaukee Brewers baseball um in in uh the state of Wisconsin or even dipping down into
Illinois or up into Minnesota, there aren't enough people >> um to attract the kind of TV audience that can make you the kind of money the Yankees, the Mets, and the Dodgers can get. And so the fact that they're able
to put up 97 wins um for instance on a $122 million payroll last year, that's amazing. And this year might be even more so be. Yeah.
>> So uh yeah, whether it's Moneyball, you know, that uh famously was the Oakland Athletics, soon to be the Vegas Athletics or I don't know, maybe they're going to change their name. Pete, you and I are going to be out there for the sack summit in a couple weeks. We'll have to see whether or not they're going to change their name uh when they But that stadium's under construction right
now.
>> Yeah.
>> Um and I think again, they've got a much bigger metro uh than the Brewers do. So, how are the Brewers going to keep compete uh over and over and over again if they just don't have that TV money?
You can't lock up the guys long term.
But maybe that's the key. Maybe you don't want to lock up a guy for, you know, a hundred $150 million and have it blow up your whole uh uh your whole payroll. Yeah, >> we'll have to keep an eye on it.
>> Yeah, I I totally agree. It's going to be interesting to see. And I'll tell you what, if if I'm uh Mr. Cohen and I own the Mets, I probably would go over to Milwaukee and go, "What's it going to take for you, the GM or whoever, you know, what's it going to take for you to move to New York?" because you know what
uh it ain't working what he's doing right now there John in New York and and Milwaukee you know like you said with that payroll and they can't really get any higher than that because of all those reasons and everything else makes it kind of interesting that they're doing as well as they are. I mean it says a lot about what their ability is to find the right players to be out
there Major League Baseball. So interesting for sure and maybe uh at some point we might see some real dollars go in that direction, right?
maybe poaching.
>> Well, and it's amazing. And right now, you'd have to eat it for a few years while you wait for perhaps perhaps >> somebody to come up with a fair sharing arrangement for the TV revenue because right now >> without that sharing agreement, folks, this is a real problem for all the
smaller market teams like Milwaukee, Cincinnati, the Twins, all of those teams. You know, you really wonder how long they can compete without uh a share of that TV revenue.
>> Yeah.
>> All right. Well, great stuff, Pete. Um I know we don't do the show on Friday because we travel. In my case, I'll be floating. [laughter] >> Still traveling. Still traveling.
>> And I'm right here in Chateau Deop territory in France. Loving it. And uh >> we're going to be back Monday, I guess, Pete. and uh leading into a holiday weekend. In fact, >> so holiday weekend, folks, means that
we're not going to have uh the uh uh once we get to uh the end of the week, it's going to be a holiday shortened week next week. Not this week, next week. But we'll fill you in on that Monday at what time do we do that, Pete?
>> We're going to be doing it 1 pm Eastern time, John. We're going to get these guys going and uh yeah, it's another vacation week, so it's kind of fun. 1:00 Eastern time.
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