WHEN: TODAY: MONDAY, NOVEMBER 14, 2011
WHERE: CNBC'S "FAST MONEY HALFTIME REPORT"
Following is an unofficial transcript of a CNBC EXCLUSIVE interview with Steve Wozniak on CNBC's "Fast Money Halftime Report" today, Monday, November 14, 2011.
All references must be sourced to CNBC.
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SCOTT WAPNER: ONE OF THE WORLD'S GREATEST INNOVATORS STEVE WOZNIAK IS CO-FOUNDER OF APPLE OBVIOUSLY AND CHIEF SCIENTIST AT FUSION-IO HE JOINS US NOW FROM RUTGERS UNIVERSITY WHERE HE IS SPEAKING ON THE IMPORTANCE OF ENTREPRENEURSHIP AND THE AMERICAN ECONOMY STEVE ITS GREAT TO HAVE YOU ON THE SHOW TODAY
STEVE WOZNIAK: SUPER TO BE HERE
WAPNER: BASED ON WHAT YOU ARE TALKING ABOUT TODAY AT RUTGERS ENTREPRENEURSHIP YOU KNOW BETTER THAN MOST WHAT THATS ALL ABOUT LETS ASSUME THAT THE NEXT GREAT ENTREPRENEURS ARE GOING TO COME IN THE TECHNOLOGY SPACE WHATS THE NEXT BIG IDEA AS YOU SEE IT GOING TO BE?
WOZNIAK: WELL I THINK WE NEED ENTREPRENEURS DESPERATELY IN THESE TIMES OF I DONT KNOW FINANCIAL UPHEAVAL WORLDWIDE CAUSE THATS WHERE THE WEALTH CREATION IS WHATS THE NEXT STEP? I THINK ITS STILL IN THE COMPUTER AREA AND ITS COMPUTERS BECOMING MORE AND MORE LIKE REAL PEOPLE AND ONE OF THE CURRENT THINGS GOING ON OF COURSE IS TALKING TO YOUR VARIOUS MOBILE PHONES AND ASKING NORMAL QUESTIONS THAT YOU MIGHT ASK A SMART PERSON GETTING THE ANSWERS IN VOICE AND THATS WHERE WE SEE -- TRANSFORM THROUGH THE INTERNET BUT YOU KNOW WHAT SOMETIMES WITH THE INTERNET I GO SEARCH FOR SOMETHING ON GOOGLE AND I GET BACK A BUNCH OF LINKS TO ARTICLES THAT MIGHT LEAD ME TO AN ANSWER. NO SOMETIMES I JUST WANT THE ANSWER. WHAT ARE THE FIVE LARGEST LAKES IN CALIFORNIA AND WE'RE GETTING THAT THROUGH THE ANSWER ENGINES LIKE ALPHA
WAPNER: BUT THATS NOT A BACKDOOR PLUG OF SIRI OVER AT APPLE WOULD IT BE?
WOZNIAK: WELL IT TURNS OUT THAT YOU CAN GET SOME THINGS DONE BY VOICE EVEN ON NON APPLE PHONES BUT SIRI IS THE FINEST I'VE FOUND SIRI'S BEEN OUT FOR A YEAR. I HAVE BEEN HYPING SIRI FOR THE YEAR AS THE BEST FUTURE OF COMPUTERS AND I DIDNT EVEN REALIZE APPLE WAS GOING TO JUMP IN TO IT SO STRONGLY BUT THEY HAVE DONE AN EXCELLENT JOB I AM SO HAPPY WITH IT. I NOT ONLY HAVE A LOT OF FUN BUT I ACTUALLY GET A LOT OF USEFUL ANSWERS.
WAPNER: I WANT TO ASK YOU A LITTLE BIT MORE...
WOZNIAK: AND I CAN DO THINGS LIKE SET UP MY CALENDAR. REMIND ME TO CALL MY WIFE WHEN I GET HOME. I LOVE TO DO THESE THINGS.
WAPNER: I WANT TO ASK YOU MORE ABOUT APPLE CLEARLY BUT I ALSO WANT TO ASK YOU ABOUT FUSION IO BECAUSE THAT STOCK OBVIOUSLY HAS HAD A CLEARLY GOOD RUN SINCE IT WENT PUBLIC IN THE SUMMER YOURE THE CHIEF SCIENTIST THERE CAN YOU EXPLAIN WHAT MAKES THAT TECHNOLOGY SO GOOD? IS IT THE FACT IT'S THIS HIGH SPEED FLASH MEMORY THAT MAKES THINGS SO MUCH MORE EFFICIENT FOR BIG CUSTOMERS WHETHER IT'S AN APPLE, A FACEBOOK, AN IBM WHO ARE ALL CUSTOMERS OF FUSION-IO?
WOZNIAK: IT'S A COMBINATION OF HIGH SPEED FLASH MEMORY BEING BETTER THAN HARD DISKS IN SOME A LOT OF PERFORMANCE AREAS IT'S A MATTER OF FUSION IO HAVING FOUND THE RIGHT FORMULA TO APPLY IT. THREE YEARS AGO, PEOPLE WERE SAYING WE WERE DOING IT THE WRONG WAY AND NOW THEYRE ALL JOINING BOAT. AND IT'S A MATTER OF INDUSTRY THAT IS SO UNBELIEVABLE HUGE. THE INTERNET IS SO MUCH A PART OF OUR LIFE AND PEOPLE DON'T SEE THESE BIG DATA CENTERS, SERVER FARMS, HOW MUCH MONEY IS INVOLVED THERE.ITS HUGE. FUSION IO HAS GROWN AS FAST AS APPLE SO FAR.
WAPNER: IS THE COMPANY AS A RESULT OF THAT AND THE PROJECTED GROWTH A TAKEOVER TARGET? ONE OF THE REASONS WHY BARRENS AND OTHERS HAVE NAMED IT A TOP PICK FOR 2012 IN TERMS OF STOCKS AND COMPANIES THAT CAN OUT PERFORM?
WOZNIAK: I'M NOT AN EXPERT ON TAKEOVERS OF ANY DIRECTION AND RIGHT NOW, WE'VE GOT SUCH SMART PEOPLE, WE REALLY WANT TO BE IN CONTROL. ALMOST ANY COMPANY IN THIS POSITION WANTS TO BE IN CONTROL OF ITS FUTURE AND DEVELOPING THE FUTURE ITSELF AND BEING TAKEN OVER IS ALMOST A SELLOUT.
WAPNER: LET ME ASK YOU ABOUT APPLE. THERE'S OBVIOUSLY A LOT OF CONVERSATION IN THE MARKETPLACE NOW ABOUT WHAT THE STOCK ITSELF IS DOING. IT'S DOWN AS WE SAID EARLIER IN THE PROGRAM TODAY, 5% OR SO OVER THE LAST WEEK. SOME PEOPLE DEBATING YOU'RE LOOKING AT THE CHARTS, THAT THE STOCK HAS HAD A TECHNICAL BREAKDOWN THAT ITS POISED TO GO LOWER. LET ME FIRST ASK YOU YOU STILL OWN APPLE SHARES I WOULD ASSUME?
WOZNIAK: SURE. APPLE AND FUSION-IO.
WAPNER: SO, WHAT'S THE STORY AS YOU SEE IT WITH APPLE? SHOULD THERE BE DOUBTS ABOUT TIM COOK'S LEADERSHIP NOW IN THE FACE OF MR. JOBS, YOUR GOOD FRIEND AND COFOUNDER OF THE COMPANY, NOT BEING WITH APPLE ANY LONGER?
WOZNIAK: OH, I NEVER THINK ABOUT THAT. WHAT I THINK ABOUT IS ARE THE CUSTOMERS BEING SUPPLIED WITH GREAT PRODUCTS AND ARE THE CUSTOMERS SO INTENT THAT THEY'RE NOT GOING TO ACCEPT RUN OF THE MILL, THEYRE NOT GOING TO ACCEPT LESS QUALITY THAN WHAT THEY'RE USED TO. AND THAT'S JUST AS STRONG AS EVER. I GUARANTEE YOU EVERY SINGLE DAY OF THE YEAR OF EVERY SINGLE YEAR, THE STOCK'S EITHER GOING TO GO UP OR DOWN, WHETHER IT'S A PENNY OR FIVE BUCKS OR WHATEVER.
WAPNER: HAVE YOU BEEN ASKED TO JOIN THE APPLE BOARD?
WOZNIAK: OH, NO, I'VE NEVER BEEN ASKED TO JOIN THE BOARD AND I DON'T THINK OF MYSELF AS A BOARD TYPE PERSON. MORE A SCIENCE PERSON SCIENTIST.
WAPNER: BUT YOU DON'T THINK IT WOULD BE PERHAPS BENEFICIAL FOR THE COMPANY, WHICH DOES BY NOTE HAVE A MUCH SMALLER BOARD I THINK ONLY 7 MEMBERS OR SO THAN YOUR TYPICAL CORPORATE BOARD MAY HAVE. YOU DON'T THINK IT WOULD BE A SMART MOVE FOR APPLE TO MAYBE HAVE A CONNECTION TO THE PAST, A CONNECTION TO STEVE JOBS, IF YOU WILL, SOMEONE WHO KNOWS HIS VISION FOR THE COMPANY BETTER THAN MOST TO HAVE SOMEONE LIKE YOU ON THAT BOARD?
WOZNIAK: I'VE GOT TO BE HONEST. I DON'T KNOW THE MAJOR ISSUES BEFORE APPLE'S BOARD AT THIS TIME. I DON'T KNOW IF THERE'S A ROLE WHERE I COULD HELP THE COMPANY. I WOULD ONLY WANT TO DO SOMETHINGIC LIKE THAT IF I FELT I COULD REALLY HELP THE COMPANY. I CANT SAY MUCH MORE THAN THAT. ITS NOT SOMETHING IM PURSUING.
WAPNER: YOU'RE OBVIOUSLY A SHAREHOLDER, SO YOU HAVE A GOOD DEAL OF INTEREST IN WHAT THE STOCK DOES. DO YOU THINK APPLE WILL GET TO A POINT WHERE IT PAYS A DIVIDEND?
WOZNIAK: THERE ARE ACTUALLY PEOPLE IN THE WORLD THAT HAVE SUCH A GOOD LIFE AND THEY DON'T REALLY WATCH THE STOCK MARKET. I NEVER ONCE CHECKED THE PRICES OF THAT OR FUSION IO STOCKS. IM JUST NOT ONE OF THOSE PEOPLE. I DON'T READ THE FINANCIAL PAGES BELIEVE IT OR NOT. I JUST LOOK FOR WHATS GOING TO MAKE THE NEXT GREAT PRODUCTS.
STEVE WEISS: HI STEVE. IT'S STEVE WEISS. JUST A QUESTION FOR YOU IN TERMS OF WHAT IS THE BIGGEST OPPORTUNITY FOR APPLE GOING FORWARD? IS IT THE ENTERPRISE AREA? AND WHAT WOULD YOU THINK IS THE BIGGEST COMPETITIVE THREAT AGAINST APPLE IF ONE'S OUT THERE?
WOZNIAK: APPLE SO FAR HAS FIGURED OUT THE FORMULAS FOR CONSUMERS SO WELL THAT I JUST THINK THAT THAT'S SORT OF THE DIRECTION. THAT'S THE PATH AND IT'S NOT GOING TO BE RADICALLY DISTURBED. APPLE HAS TRIED TO MOVE INTO THE ENTERPRISE MARKET IN THE EARLY DAYS OF COMPUTERS WHEN WE HAD THE APPLE 2 IBM HAD A MUCH GREATER PRESENCE, MARKETING AND WITH REPS SELLING STUFF INTO ALL THE BIG COMPANIES AND WE LOST A LOT OF MARKET SHARE DUE TO THAT. APPLE HAD ITS SERVERS THE X SERVE AND HAS NOW DROPPED IT AS I RECALL AND WASN'T INCREDIBLY SUCCESSFUL.
STEVE GRASSO: HEY STEVE LET ME JUST JUMP IN REALLY QUICK. LAKE TAHOE WAS THE ANSWER TO YOUR QUESTION EARLIER.DO YOU HAVE ANY OTHER QUESTIONS? I DONT WANT YOU ASKING YOUR PHONE ANYMORE LOOKS A LITTLE WEIRD
WAPNER: STEVE BEFORE I LET YOU GO --
WOZNIAK: LAKE TAHOE WAS NOT NUMBER ONE. I SAID -- HOW LARGE WAS LAKE TAHOE AND IT WAS NUMBER THREE.
GRASSO: HANG ON A SECOND. I'M GOING TO ASK MY PHONE AGAIN.
WAPNER: MR. WOZNIAK, LET ME ASK YOU QUICKLY. I KNOW YOU SAY FIRST OF ALL YOU DON'T WATCH WHAT THE STOCKS GENERALLY DO, BUT I CAN TELL YOU THAT FUSION IO IS MOVING SHARPLY HIGHER AS YOU'RE APPEARING ON OUR PROGRAM TODAY. YOU CAN UNEQUIVOCALLY SAY THAT YOU HAVE AS MUCH FAITH AND CONFIDENCE IN A GUY LIKE TIM COOK GOING FORWARD HERE?
WOZNIAK: YOU KNOW, FROM WHAT I'VE SEEN OF TIM COOK, I LIKE HIM A LOT. AS MUCH STEVE JOBS. HE GIVES WONDERFUL INTERVIEWS. HAS A GOOD HEAD, KNOWLEDGEABLE ON THE PRODUCTS. BUT YOU KNOW TIM COOK HAS BOSSES. YOU CAN SAY WELL THE BOSS IS THE BOARD OF DIRECTORS. THE BOSS IS REALLY THE CUSTOMERS OF APPLE PRODUCTS.
WAPNER: RIGHT. STEVE WOZNIAK, GREAT TO HAVE YOU TODAY.
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