tv Fast Money Halftime Report CNBC April 8, 2021 12:00pm-1:00pm EDT
-- and unions in general. >> yes, the ryf is out with statement of being pro union is not always pro worker. and besides bull on the fed tape says that policies should not ease until the end of the pandemic comes. we will get to that going into the half. >> thank you, carl. i'm scott wapner, and is this as good as it gets or in a sweet spot for the money it is a big question and one well known bull is getting worried about the markets. we will talk about that and debate it with the investment committee. tiffany mcgee is the cio at pivotal advisers and jon najarian is with us, and so is pete. and we will get right to the headliner wharton jeffrey
seigel, and he is a noted bull, but he is worried, and so professor, any time a known bull like you says they are worried, i need to talk to you. what is up >> well, i am not worried yet, scott. i think that we are in a strong bull market, scott, but interest rates an inflation are going to rise well above what the fed has projected. we are going to have a strong inflationary year, and 4 to 5%, and the fed is going to have to hike sooner than certainly the crazy flop that it put out last month. but in the meantime, enjoy the ride, because it is going to keep on going. >> but for how long? how long does it go? >> i mean, i can see it, i could see it towards the end of the year. because even though interest rates go up, and if the inflation rate is going up more, it pays to borrow. 3% borrowing shouldn't be scary, if you have 4% inflation. so, you know, you are still
going to gain by that sort of borrowing, but eventually the fed is just going to have to step in and say, wow, you know, we are just having a little bit too much inflation, and that is the time to be cautious. i would not really be cautious right now. i think that bull market is on for 2021. >> okay. so josh, for the professor, he says that you have eight months now to let this run, and let it ride, josh brown, and then you can worry about it later, but not now, and you agree with the professor? >> man, the professor is one of my all time favorites. jeremy, so good to see you. >> thank you. >> let me throw this out, because i am curious of your thoughts. arguably, there is going to be a moment this year where the fed is going not use the word taper, but they have to state the obvious which is that there is absolutely no reason for them to be buying tens of billions of
dollars of financial instruments every month. >> agree completely. >> and we don't have any liquidity issues in the system, and none of that going to be putting the waiters back at their jobs, and i don't care how many triple-a-rated corporate bonds that you buy, it won't put people to work, and that is before we talk about the rate hikes, so the question is, if that produces a 10 or 15% tremor in the s&p, and isn't that like a classic buying opportunity isn't that what you want to have happen. >> josh, i don't think it will. i mean, really just stopping the buying, while the economy is so super strong and look at the pricing power that corporations are going to have, and people are going to say, yeah, so they stopped buying, so where am i going to put my money, and long term bonds are worse, and the cash is going to depreciate, and
you have to have real asset, and real estate or stock, because they are both real esassets and you say they are tapering, but where am i going >> and people this week have thrown out goldilocks, professor, and they are talking about the liquidity in the market, and cash on the sidelines and pent up demand, and earnings expectations which continue to go up. the fed is not doing anything any time soon, and you agree with that? k >> nothing soon. honestly, powell is playing the game with biden now, because he wants to be renominated february of next year. i think there is a game here, and that is why he is being so compliant, and i think that the fed is recognizing the danger and biden is going to reappointment, and i think that he wants that job, and once he
gets that job for another four years, he could be much tougher on inflation. >> come on, professor, you are insinuating that jay powell, the fed chair is, he wouldn't do something simply because he wants to be renominated by the president of the united states, and he won't raise rates, even if the economy says that he has to, because he wants to be renominated. come on. >> he is going to go slower. i didn't say that he would do nothing, and that is why i believe that the taper will end before the year-end. now, whether they are going to actually start raising the rates depends on the unemployment and all of the rest and the pressure that comes from it. but he is going to err on the side of, he is going to err on not taking away the punch bowl, and the old expression of the fed, because i do think that he wants a renomination. if he goes against him, and said, this is a crazy program, and you have way too
inflationary, and all that, then, why not just pick up a democrat that won't tighten. >> maybe he did learn the lesson about joining the ire of the president. >> it is going to be out of hand and i'm not calling for the double digit inflation, or the single-high inflation, and vi said it on the show many times in the past, but i think that we will have 4 or 5% inflation this year and next year. and this is what is going to happen. >> steve weiss, the bottom line from what i am taking from the from the professor is full speed ahead and nothing to worry about for eight months minimum. is that right, steve >> the way that things look right now, yes. that is right. you know, i don't think that there is anything, and i think that the professor would agree with this that he said that the market is not aware of. but i will respectfully disagree that powell is not going to do
or not do anything to get th nomination next year and we don't know that he wants it, and he won't sacrifice the economy or sacrifice inflation so that he can be reappointed to position, and i don't see that happening at all, and i will bet against that. in terms of the market, look, the good news is that we have seen with the rates and the 10-year, it is going to get us there before the fed. so when the fed comes out, we won't see the temper tantrum before that powell rose up too soon with the rates, but a nice measured response and it does not mean that you won't get a knee-jerk reaction, but the market is absorbing it. if you said close to a million jobs friday, you would expect monday as i did, a little pressure on the bonds, but you didn't so the market is already used to this 7 to 8% gdp and used to the inflation picking up, and it is used to the economy that is going to explode and the fact that the fed, yes, has to come
in and do something. but right now, you buy, and if the market corrects as josh says it may, and i think that it may knee-jerk, then you buy more and you don't shy away from it, because inflation is going to mute the return of the bonds as well. >> okay. i got you, but professor, the other debate this week as to whether this is a true sweet spot for the stocks or it is as good as it gets, and it sounds like you could have maybe a little bit of both. we have said, well, it has to be one or the other, but maybe it is both. this is truly the sweet spot for all of the reasons that i said earlier, professor seigel, but you also think that this is maybe as good as it gets, because when you start to get a rise in the inflation, the fed's hand is going to be forced and then all bets are off as to what happens with the stocks. >> then it is going to be tougher, and we have a producer price index tomorrow, and the cpi next tuesday and maybe not this march month, but i will be looking at april, may, june, and that is where you will begin to see the price increases really
come, and i do think that the bond, the 10-year is going to rise at that time. but, still, people are going to turn around and say, okay, so more inflation, and the 10-year is going to rise, and what do i want to do with my money, and i want to be out when they have more pricing power than they have had for more two decades or more no, not yet. >> and doc, the best sentiment of the week is the vix, right? >> it is going down below 20 quite decidedly, and people are saying a lot of support behind this mark. >> no question, dr. j? it is the vix barely over 17. >> and lowest since the pandemic, i believe. >> yeah, you are right, professor. jon najarian >> yeah, you are right, scott, but it got low enough today that trader known as 50 cent that comes in and buys big upside calls did exactly that oday, and he came in and bought
140,000 july 25 calls. that doesn't mean that the trader believes that we are going to explode to and through 25 to the upside very quickly. >> but how could you not buy it at 17, my god. >> exactly right. >> and we were down to 9 before the pandemic. >> yep. >> and 17 is high in a bull market. >> yeah, well, the point is well taken, and let's try not to talk over each other. jon najarian, continue. >> the overall theme is that when it is cheap, and pete and i both say that is when i want to buy the insurance. it was cheap, and it broke through 17 today, t day and i tt was down to 16 or so for the vix, and the cheapest for a year, and the fact that we got down there, and people are hedging is a good thing, scott. that shouldn't be the canary in the coal mine and run away,
because 50 cent is buying the upside calls in the, i have and inv -- and calls in the vix, and i have to buy some protection, so that is not the case, and don't disagree with the processor except for the inflation, but he has a lot more letters after his name than i do, scott, so i am deferring to him, but think a nice move out of the markets over the next few months. >> it is so relevant to the conversation having now, and the timing of sarah eisen's conversation on the imf's conversation of the global economy, and fed chair powell with her. so let's listen powell, the u.s going fast, and is the optimism of the global economy going now
thanks to three pharmaceutical companies, and the stimulus, and the great jobs report, and the stimulus number, and how strong of a rebound are we looking at for this year? >> thank you, sarah. a number of factors coming together to support a brighter outlook for the u.s. economy which is looking like faster recovery and economic recovery and job recovery, and i would look to the vaccination to add to the full recovery soon. over half of americans have had at least one vaccine and we are doing something like 3 million per day which is moving along and the monetary policy is supportive and a taste of what faster program is going to look like with the faster job report in march, and particularly adding in the revisions for january and february and we want to see a string of months like that so we can begin to show progress towards goals, but the
recovery is incomplete, and the burden is falling on the lower income workers and the bottom quartile is still 8.5 million people out of work, and the unevenness that we are talking about is a serious issue. viruss are no respect or theersf borders and until the world is vaccinated, we are all at risk of the new mutation, and we won't be able to resume the activity with confidence around the world, so it is not only the right thing to do, but it is the smart thing to do as the director general just said. >> when you think about, chair powell, the substantial progress that you said, you mentioned the economic indicators and do you pay attention to what is happening with the globe and the three other panelists were describing with the speed of vaccinations and speed of recoveries and not as much on the fiscal front as we are here in the united states, but does
it matter as far as the exit strategy and the tapering and the path to normalization? >> what we have said for better asset purchases is that they are continuing at the current pace until we see substantial progress towards goal, and that means actual progress. we are not looking at forecasts for this purpose, but actual progress towards goal. so we will be able to measure that, and that's inflation, and also the indicators of maximum employment, and i would look at global vaccination as a risk really to something to weigh in as a risk to the progress that we are making. so it is something that we track carefully of course, and call out as a risk, and by the way, there is a risk here in the united states as well. cases are moving back up here, and so i would urge that people do get vaccinated and continued socially distancdistancing, ande don't want another outbreak even though it is less economic damage and kill fewer people, it will slow down the recovery. >> managing director kristalina,
how would the banking -- we will continue with that exclusive situation which includes fed chair. and now, back to you, professor seigel, and let me bottom line it for you. and here is the fed chair, and we are not doing anything any time soon, and the recovery is so uneven, that i am worried about the recovery, and don't worry about tapering, and we are not even going to do it any time soon, and i'm not worried about inflation in any shape or form, because everything is uneven and we will deal it when we have to deal with it down the road. >> i have never heard a fed chair so dovish, and you know, i wonder sometimes why he ignored, you know, over 20% increase in the money supply and 150-year high stimulus provided in 2020 and forget what is added in
2021. as the fed chair, he is being too dovish and i gave you my theory of why, but we will see what happens on that, on that score. in time -- >> he and you maybe move the market, because that is the headline for me is that your statement, i have never heard a fed chair more dovish. >> yeah. >> well, it has been for a while on powell. given what the stimulus has been, and i mean, i'm a history of looking at monetary aggregates and all of the rest, and what i see the stimulus that is put in has caused me to say that there is a lot more inflation than what he says. >> let me hear from tiffany. and tiff, you have the benefit of hearing everybody's opinion
and the fed chair and the professor and one of the most notable bulls that i can remember saying that i have never heard a fed chair more dovish than jay powell. >> yeah, it is interesting, so, you gave us the two choices, you know, is it as good as it gets or on the sweet spot, and i would argue those are not our only two options, so i agree with the professor of course, because, you know, he is who he is. but first of all, i would not presume to know what powell is thinking abouthis position. i have no idea what he is thinking about, but i think that there is no room for worry here. so, i am not worried, excuse me about the fed activity, you know, i don't think that they will do anything any time soon, but i think it is a little bit hard as some of our, as we have said a little bit here today. i'm not worried even about the increased corporate tax rates, but i believe that we won't see
the type of returns that we have been seeing, but i also believe winners and losers going forward so i am focused on the names that i believe will do well regardless and buying the names they love on the dip. for me it is simple. >> josh brown, what do you want to buy with the most dovish fed chair of all time according to the professor? >> well, i don't know that i would like recalibrate a portfolio or a retirement portfolio of assets based on any one comment on jay powell, by i agree with what jeremy said, because it sounds about right, but i can't remember anybody out of hand outright dismissing the asset gains that we have seen. looking at home prices and any reason to think that the market
needs increased stimulus with 20% gain of a price of a median home all over the country? like any reason to think that market is under such stress that we need to make it possible for more 3% mortgages, because whatever benefit, you are getting as a home buyer in the form of a cheaper interest rate to borrow at, you are losing that and then some in the purchase price of a house. it is a knife fight in florida. so don't cheer for how cheap your mortgage is it is a knife fight and you can't buy anything. so we are at the stage where people are staying long the market, and staying bullish because of all of the dovishness, fine, but growing increasingly concerned that, hey, this is not that big of a benefit for me anymore, and it is going from being stimulative to actually being difficult. hard to run a business, and hard to find people to hire, and pay
them an appropriate way, and we are in danger of crossing over to that point where people say, hey, this is a lot of fun, and i liked to watch my portfolio double, and now, things are costing more than they should, and itis impacting the way i live my life and not saying that we are there and people are not affected, but the blunt instrument of zero percent rates is going to crossover and i think that it is going to crossover and it is going to happen. >> and so, steve, do i want to stay with this year's winners the cyclical/reopening stocks, and the one last year, and remember, i read this stat to you guys earlier in the week, the top 25 stocks in the s&p 500 last year or the bottom last year and stay with those kinds of the stocks that are working so far this year or do i want to
start rotating back to this year's laggards meaning some of those high growth tech stocks which are going to be perhaps susceptible to issues if the professor is right, and you can get more inflation than the market is counting on and the rate is going higher than the market is looking at >> you want to be more balanced and don't go to the zooms or the teledocs or the snowflakes and i am not going there now and i haven't been there, and the jig is up there. so we have seen that the studies coming out, you are better off being in the office than working from home for a bunch of reasons and the ceos are saying that we want to get them back and so you will. so you want some balance. inflation is going to pick up, and i don't know 5% or 6% and i don't believe it will, but nonetheless, you are seeing it.
so you want some stocks that have inflation attributes like lyb, and others that benefit from the construction and the stimulus play, and also in reasonable tech, and garpy tech and the ones that we have talked about and the a semis, and we have talked about for years how it is broad and going into every industry and seeing the proof of it now, so you want to be there and the stocks that will benefit from a burgeoning economy and stocks grow anywhere and a balanced portfolio is where you want to be. some of the cyclicals are too high priced though. >> and now, tiffany, i have to go to you, because steve weiss is just saying that you don't want to be in pelotons or the zooms or some of the other stocks that you are in and bought more recently, because you continue to believe in the story. >> jim, for some reason i dropped. >> we will figure out that
audio, doc, don't worry about it. >> okay. so you the take each one on a case-by-case basis. and you can't paint each one with a broad brush. so i am looking at something like a pinterest, and so pinterest is going to do well, and did well in the pandemic, and did well, and is doing well right now. of course, it had a little bit of the dip with some of the downward momentum, but it does have staying power. again, we have to look at all of these things individually. zoom, i mean, vi talked over and over again about zoom. do i like zoom still yes. am i buying it now no. so for me, it is always about rebalancing, and it is not about buying something that i love for the long term, and let it run amok. you always have to be rebalancing. so, again, i think that each of the names has, you know, has i have conviction for why i should
stay, but then, you know, it really just depends, and these are the names they bought not because i liked them in pandemic or the reopen situation, but these are names that i like long term, and whether i continue to buy more depends upon the individual name, but it just depends. >> but in fairness and part of the thesis on the show is that the world has changed and you have used the exact words. >> yes, yes. >> and the pelotons and the zooms are going to work no matter the situation, and steve weiss is saying, no, it is not true, because when we all go back to living our lives in a different way than we have been living for the last 13 months, we are not going to want to stay at home, and buy a peloton, and we are not going to want to stay at home from the office and go shake somebody's hand and give them a fist pump or whatever you want to do and work at a desk and you don't want to zoom anymore and that is the growth rate of those companies is different and the growth trajectory is different over 13 months and that is not individual case by case, but it
is a thesis problem. >> no, no, but, yes, again, i don't think that growth potential is done, but it is going to be changed. clearly the pandemic accelerated the growth, but i still think there are opportunities for zoom. there are certain things that we won't do in person anymore. i don't think that business travel is going be the exact same situation that it was before the pandemic, and now, you know, we are kind of opened up to this world where kids can see their grandparents on zoom from across the country, and i do think that there is still some opportunity here, and of course, the growth is not going if be the same way as it has been in the last 13 months. i have the peloton and i am using it, and i like it for the streaming service. that is how i am thinking about it, but i don't see the huge uptick in growth in way we have seen it in the past 13 months, but i don't think that, especially the two stocks that you named, i think that the
world has changed and people, listen, i bought a peloton and i know that people who clearly have bought the pelotons and i don't think they will get rid of them, because we can go out. >> and honestly that is not the question, but who else is going to buy it? who is going to continue to buy it. and we know that people have bought them, but it is only going to take you so much. >> and they are still paying for the streaming. >> sorry, tiff. one more word from the professor. >> go ahead. >> the cyclicals and the professor one more word. >> the cyclicals are claims on real asset s land, capital, copyright, and real assets is what you want in the economy that i foresee and inflation, and it is not until the fed really leans hard then you have to work. i mean, we could have the market go up 30% or 40% before it goes down, and that 20% when you he really has to do it. so we are not in the ninth
inning here, and we are more like in the third inning of the boom. >> the third inning. wow. you keep giving us too many headlines. professor, talk to you soon, and stay well, jeremy seigel at the wharton school. and so now one big call on a software stock that is up 45% in a year, and we will predict the runway ahead. and alsoa , reminder that you can always listen to us on cnbc on the go. the half is still ahead.
we are back. the call of the day, saless for and bank of america believes a long runway exists for 17% annual growth, and tiffany, you own it, so you have to be happy? >> yeah, absolutely. i think that salesforce is one of the names that absolutely does have staying power regardless of what the new world looks like when we get into it. you know, we have a jamie dimon coming out to saying yesterday, you know, in his annual shareholder letter that jpmorgan is going to be in the hybrid model in terms of the work and employees working solely at home, and coming into the office and everything in between, so that is the case for work right now. so i think that company like salesforce and in particular salesforce since they are a market leader is positioned well to take advantage of this, and of course, it is helping
employees, excuse me, employers and employees to manage the pipeline, and it is going to be important doing it in the hybrid model. >> steve weiss, you prefer microsoft over salesforce and you want to tell the viewers >> well, frankly, you can't compare the numbernumbers, becae frankly, the pretax numbers, 40 to 39%, and i can go on and on the an valuation is not comparable, and you have salesforce.com that sbre seen has to make more and more acquisitions to keep the growth going, so that is more of the rollup at this point, and plus we don't know if the bennbennioi going to stick around or not. so microsoft is a much better renewed business and that is the
one i would rather own. >> or you say, salesforce is just hitting the high, and microsoft is off of the high, and so you say that the professor is right, and we are in the third inning of the boom, and the market is continuing to go up for the minimum of the remainder of the year, and isn't salesforce going to be back towards the new high and if not set a new one? >> sure. you don't have to own just one, but if i had to own one, to me, it is not a tie. microsoft is clearly the one, and a even though salesforce has come down a lot and recovered somewhat, it is much more expensive. so why not own microsoft. microsoft had the salesforce valuation, and the stock would double from here. >> josh brown, you think that crowd strike is the stock to pick out of this conversation. >> yeah. so, to echo steve's point, salesforce is not exactly cheap, and i already own like one of
the most expensive stocks in this sector, and i can't own two. i can't own five of them, so, that is where i am in software and i think that crowdstrike is the most exciting idea that i am involved in, but the valuation is nosebleed, and i don't want to compound it by owning salesforce, which is ten times the sales, and i don't know. it is a great company. we are customers, and we use their wealth management cloud and the financial services cloud, and one of the first services to migrate to it. i won't leave and it is too expensive to move my data so salesforce has a client in us and millions of companies, so it is an amazing business, but i am investing elsewhere in other ideas. >> i hear you, and some notable calls on the data, and ra hhel solomon with more on that. >> analysts are pointing out
their ability to attract the millennials and new shoppers it got last year, and also the strong luxury housing market, and this is one that has riffed in the last year, and it capped at 15 billion and it is now to 14 billion, and they feel it is appropriately. and now, with the fundamentals improved for nxp semiconductor downgraded. and so you can see that the shares are up for jpmorgan adds fedex as value idea to the focus list up 1.28. >> thank you, rahel. we will see what is leading and lagging.
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welcome back to the "halftime report." i'm rahel solomon and this is the update. president biden has announced half a dozen executive actions to combat gun violence. is let me say it again, gun violence in this country is an epidemic, and it is an internationan ireland, the leaders have puts a side their differences to put an end to violence that is fueled by post brexit trade barriers. >> and covid mortality rates in hospitals and labs have looked at half a million patients and
said it peaked last april and dropped to 9% last november. you are up to date. and back to you, scott >> thank you, rahel. i wanted to update you on sarah's exclusive conversation with the fed chair and company, and jay powell saying that the upward pressure on the prices is likely temporary, and the pressure from the tight supplies is not going to repeat itself, and staying in line with the view that inflation is temporary, transitory, and whatever word you like and he has used both of them in recent weeks and continues to believe it. all right. doc, what do you have? guys were teasing me with the peloton talk minutes ago and as tiffany loves her, i bet there are some people who are thinking that it is a little highly priced and valued right here they are buying the may 100 put, scott, with the stock at 119, se
pelotons could be cut pretty substantially, and much like when boeing had the issue with the 737 max. that to drive it through 100 by may is a big drop. the second trade amrs, and this one, they are buying the june 16 calls around and the stock is about 15.52 and i liked both of them enough to jump in on both, and so i am on the short side of pel on the and long puts in may, and in this one, i'm in the june 16 calls and basically at the money call, and probably in those two months. >> thank you, good stuff. reopening in big tech and how one firm is prioritizing the trades as they forecast a digital retention resecessiressd we will tell you the names they prefer out of that list right there. and not all of them either. we are back after this we help make them healthier. we are the people of abm.
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so you're a small business, how homeowners manage comfort and costs. or a big one. you were thriving, but then... oh. ah. okay. plan, pivot. how do you bounce back? you don't, you bounce forward, with serious and reliable internet. powered by the largest gig speed network in america. but is it secure? sure it's secure. and even if the power goes down, your connection doesn't. so how do i do this? you don't do this. we do this, together. bounce forward, with comcast business. welcome back. with the economy on the road to reopening, needham's laura martin is out with a provocative new note calling what she calls the digital attention recession and a risk to some of the most widely followed tech names. this is how she plays it, josh. she like apple over amazon and
if you are pairing them up. and roku over netflix and facebook over alphabet. i should preface it with that she has a buy on apple, on amazon, on roku and on alphabet. and she is hold on facebook, and she has underperform on netflix, but pairing them off, and it is going to conversation that we were having earlier, right we are about to get on with the rest of our lives and we can't wait to do so, and so some of the bigger winners are going to be losers compared to other names like apple over amazon and what about that one specifically first, and then i want your take on facebook and alphabet, because now how much you like alphabet >> yes, i own -- i completely agree with the premise of the digital attention recession. just because, she was saying that last year the amount of time that the average adult spent consuming digital content was seven hours and 50 minutes
and the average adult is awake 10 hours and that is one-third of our time binging tv shows or digital content and it is not sustainable, so if you assume as she is, lopping off 15% of the total amount of the attention that we were giving to digital content, then you are asking, which questions benefit from us spending time doing other thing ashs an things, and that is where i have a disagreement and you can derive apple versus amazon and that premise so easily. so i get what she is saying, but where i do agree, i think that thing like netflix and disney are going to be having tougher comps in terms of how much time and attention people are devoting to that programming, so maybe a better trade to avoid the things that have gone up a lot on the digital streaming. >> sorry to interrupt, but i want to make sure that you answer this, the facebook over
the alphabet one, and to me, that is not seeming to make a lot of sense. you have positioned alphabet as one of the ultimate recovery back-to-business, and back-to-life trades. >> it is. and it has been estimated, and they don't break it out, but somewhere between 10 to 15% of google's advertising revenue comes from the travel segment, so it is hard to understand this call, and then of course, there's also the ultimate reopening play, mobility, and google's wamo in the second half of the year with the news coming out, and the way that uber and lyft are trading as the recovery is reopening, and this is all hidden inside of the value of google, and google is not getting credit for what could happen there. so, again, i agree with the premise, but i don't love the execution of doing these pair-offs of one against the other, and it is not so clean
and neat as she laid it out. >> but, steve, looking at the names, how do you view them, right, and not everything on this list may work in tandem, right? you may have some tradeoffs based on the premise that laura has put forward today in her note. what do you think about it >> well, you know, i view that the matchups as very arbi arbitraryian and dissimilar, and facebook and alphabet, and i have owned stock in facebook and google for a long time and dri ben ti ad spending that comes to them, and it is going to be continuing to grow. if spending cutsback, you are going to have an issue with both. in apple versus amazon, she has down earnings for apple next year 23 over 22, and i don't see that as being an attractive case. >> i am sorry to interrupt you, but i want to be clear, she is not negative on apple in any way or shape or form, and i don't
want people to get the wrong form, because she has a buy rating at one of the higher priced targets that we have had of late, and remember, you had katy huberty reduce her price target from mid-150s to 160, and another price target in the 150 or the 160 range as well this week, so she is buy that, and buy amazon and buy roku and netflix is the underperform, and i wanted you to make sure that you were on the same page. >> yes, and let me answer it this way, and that is a great clarification. i think that it is a good analysis. i enjoyed reading it and food for thought, but i don't think that it apply ies to the stock picking, because even if the view hours go down, they are still the best companies in what they do, so you want to own them, and frankly own all of them. i don't own netflix and roku, because i won't own them at this point, but i own the others and
i will stay with them. >> good stuff. and so "ask halftime" is coming up next and ask us on video and we will put them on e thhalf. that is coming up, and we will be back in a couple of minutes. the rx crafted by lexus. get 0.9% apr financing on the 2021 rx 350 experience amazing at your lexus dealer. we see breakthrough medicines getting to patients in record time. at emerson, our automation software is empowering
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winds grow for consumer staples. what do you think. >> we are not really in a recession. we left it back in 20 to where it belonged. we are actually in a new bull market right now do i like costco it did pull back a little bit. it is a god time the buy think about prepandemic, people were still going to costco and they will still continue to go to costco it is one of my favorites. >> josh, to you from yush, all the way from kuwait. amazing. appreciate the depth you bring in, any thoughts on s to, -- an thoughts on sown owes? >> you would say it is consumer electronics, it is going to be another fitbiter another whatever that camera company was. when you dig in, you realize this is more than a consumer electronics play the reason the stock has had
such a big year, they are targeting $2.5 billion in revenue within the next two years. 500,000 paid subscribers for their own in-house music streaming platform and they have 11 million households using their products. they want to get to 100 million. i think this is a serious comp competitor i think it will stand its own ground it's working very well with auto manufacturers now. great partnerships so as long as apple and spotify don't cut this company's throat which i don't think they can from a regulatory standpoint, i think this company can survive and innovate and do well so i do like it. and i thought i would hate it, but i didn't >> thank you for that. steve vice to you from mark in denver i bought xpo latd year at the bottom is it still a hold >> it is still a hold. probably a buy the company going to split into two and the parts are going to be worth more than the whole the business is going great for him and the economic boost will
driveaine rngs further. >> thank you for that. final trades after this quick break. - [narrator] at southern new hampshire university, we're committed to making college more affordable. that's why we're keeping our tuition the same through the year 2021. - [student] i knew snhu was the place for me when i saw how affordable it was. - [narrator] find your degree at snhu.edu.
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all right. let's do final trade tiffani, you first, you have a new buy? >> yeah. williams sonoma. rahel just mentioned that the price target was rise raised for us it is luxury at a reasonable price. we like night williams sonoma up 3.5% dr. j? >> xle, scott. down pretty hard over the last month. i think it makes a big bounc right about where it is, and then heads back towards 54 >> okay. steve weiss? >> cleveland cliffs. down 10% since they announced great numbers. it is going to go up, particularly with the professor's inflation outlook.
>> josh. >> paypal is a reopening stock when groups of friends go out to a baseball that's how they split the cost of the tickets. don't get it twisted the stock is rallying again. it's not a stay-at-home stock. pypl, my man. >> a nice day for that as well thanks, guys, talk to you soon thank for watching as well that does it for us. the exchange begins right now. >> scott, thank you very much, welcome, everybody to the exchange i'm tyler mathisen here's what's ahead. elevated euphoria, bullish sentiment among individual investors surged last week and is rivaling those 2018 highs so is this a reason to worry plus, viva las vegas as the city tries to come back from the pandemic shutdown. we will speak with the ceo of caesar's, about demand, the future, and where visitors are spending their money. and speaking of recovery, the first new airline in 15 years is getting set to take off as the company bets that travel