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tv   Mad Money  CNBC  November 16, 2021 6:00pm-7:00pm EST

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target i am going to give you merck i love the things they are doing. i think they have more to the upside >> mike? >> even with rivian, ford will get a little more volatile, but it's my mission is simple to make you money. i'm here to level the playing field for all investors. there's always a bull market somewhere and i promise to help you find it. "mad money" starts now ♪ ♪ hey, i'm cramer. welcome to a special west coast edition of "mad money. welcome to cramerica other people want to make friends. i'm just trying to help you make some money my job is not just to entertain but to teach so call me at 1-800-743-cnbc or tweet
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me @cramer hey, maybe it all depends on where you shop that's how i'm starting to feel about the supposedly raging inflation that everyone keeps harping on, including today where the dow gained 55 points nasdaq jumped 0.76%. we know that many things have gone up in price, but it is important to remember that prices can also come down. a bunch of nit wits, we're hostage to higher prices there are things you can do to offset the damage, and they're being done lately with some unreported success we almost never hear of anything that's going right when it comes to inflation if you look to most commentators, it is like everything is going wrong. think about these guys on a mission to discredit jay powell. they have turned his comments on inflation into a punch line. even though transitory doesn't necessarily mean brief
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my position on inflation is widely viewed as pie in the sky. after all, didn't i listen to the tyson foods conference call? every single line item is seeing inflation whether grain or produce or labor that call was a disaster if you are jay powell you might be thinking, maybe brainer should get the job but i think it is a mistake to read into much into tyson. they have repeated covid labor issues, at the mercy of grains and birds and cows you can't look at that and decide it's game, set and match for the whole inflation debate why? first of all, other than food and labor, most commodities have started to come down from their highs. let's take one particularly inflated section of the economy that has gotten a lot of companies in trouble chemicals. new kmoodties are more important than basic chemicals my favorite chemical analyst has walked me through this you can see clear peaks in the
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polys. these have been raging nonstop so it matters they're getting cheaper. you know why because others will follow and next month they will be talking about those. second, the persistently high price of oil is looking a lot less persistent. while there has been tremendous discipline from major american producers. we heard that have chevron yesterday, we aren't seeing the break-outs that so many predicted. some of it is because cars these days are more fuel efficient than they were ten years ago i wish i could give more credit to electric vehicles with the lucid air winning motor trend car of the year. i got to drive one earlier more on that later for the moment, they're not playing a role but oil being contained is incredibly important and it has been contained and people keep acting like it keeps going up we know the biggest shortage out there is the semishortage
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conductor where they are hell bent on making expensive high-performance shifts than quitting intel he's their ceo even though what we really need are cheaper, full featured chips that go into machines like cars. we don't have enough but last night in another piece nobody noticed, morgan stanley published a piece titled "malaysian fabs back to 100% auto chip shortage is now in the rearview mirror. okay they're not charles dig kens, but it works should both improve shortly. are we supposed to ignore this research when he said the worst of the chip shortage is over look, i know taiwan is not done. it's still got a problem and the malaysian plains can't make up for that short fall. but do you know how fast the price of used cars will plummet once the auto makers can ramp up the production of the new ones
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i strolled through a used ford lot yesterday and couldn't find anything for less than $55,000 i got a deal from my dealer offering my $6,500 for my old lexus. how about the ford situation we keep hearing that today bloomberg said they have seen a 20% decline in the number of containers sitting on the docks. decline. can you really ignore that number remember, the white house is taking all sorts of steps to sort out the port situation. i don't think they're totally futile fine we know it is more about the cost of distributing goods do we have enough labor to manufacture and transport everything are there enough people willing to work in the service industry? for this, i have two responses one is what walmart said today the largest retailer in america crushed its own stock in a self-professed effort to fight inflation. not great for investors, but it
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should be music to the ears of anyone who is worried about endless price increases. walmart. walmart is taking them on the chin and talked about how it is getting easier to hire people. walmart's ceo did shock analysts when he said that finding workers got less difficult as the stimulus dollars waned we heard that wasn't the case from a lot of other employers. we're talking about one of the largest employers in america he told us we saw people come back and in a matter of weeks we were back to being staffed is the labor shortage peaking? seems like it. but let's go back to our first question are we really hostage to higher prices if you truly believe you are facing inflation for hundreds of thousands of items of food stuffs, of things you need for your house, can i suggest you just join the legions of walmart shoppers because this company shocked the world by simply eating many of its costs rather than passing them on to you as so many other companies have
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walmart is a deflationist in an inflationist world and if you shop there, you are winning your own battle. i'm not suggesting jay powell shop at walmart. i would never say that because i have no idea where powell shops. but the masters of the financial universe don't shop there. if they did, they might start questioning how big the inflation problem is in this country. i say this retailer is the most powerful force flighting inflation today. then again, i'm in san francisco where tech is fighting inflation. we have software company after software company automating white collar jobs out of existence. the fewer workers companies will have to hire to run their enterprises. qualcomm stock soared today. and don't forget, all the artificial intelligence that we keep hearing about here in place of actual people
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and that is very good news when it comes to the labor shortage, even if it is bad news for the people who are thrown out of work sure, jay powell could cool down the housing market by making mortgages more expenses. but the hybrid created temporary demand for new housing in the suburbs or the country why crush it why? the bottom line, i don't think powell needs to slam the brakes on the economy despite what you hear from the inflation and in the media, the weight of the evidence is finally going powell's way team transitory is going to wayne. i say stop freaking about inflation. go shop at walmart if you are so worried about the price of milk. it does make a huge difference hey, you know what let's take some calls! i want to start with jonathan in pennsylvania jonathan >> caller: hey, jimmy chill. how are you man? >> chill man is fine actually a little chilly
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what's going on. >> caller: loved everything you do for us small investors, man just love it. >> thank you go lions. >> caller: hoo-yah, by the way i'm calling about partnerships to kroeger, uber trading at 16 now it's a buyback what is your thoughts on bby >> okay. the shorts are trying to keep this one down. they offer stock constantly. they're greatly mistaken mark trenton is going to turn around and bye bye baby is the reason why you need to buy bed bath and beyond jay in tennessee jay. >> caller: boo-yah, jim. as you said, what i'm calling about, jim, is coin base i picked it up when it was
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coming back after going public unfortunately i paid a price especially making some money on calls. where do you see coin base and is it a long term? short term >> it's the proxy for the group for those that don't want to own the actual i actually prefer they own square who we're talking to later on the show there is no denying that there is a clear let's just say it's the easiest path to own something that's a stock that looks like crypto. all right. i don't think pal needs to say it in the brake. the economy, that is what everybody seems to want. not this guy seem transitory is winning so please stop panicking about inflation and go shop at wa walmart. tonight, from the future payments to the latest in crypto, i'm digging into all of it with square cfo then the lucid air was named the motor trend car of the year. and i got to take one for a spin and i can barely drive
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oh, i told the ceo plus, we all know about the chip shortage we're finding out the latest from none other than intel's ceo. so stick with cramer don't miss a second of ""mad money. have a question? tweet cramer send jim an e-mail to or give us a call a 1-800-743-cnbc
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many of last year's biggest winnered scored in 2021. it's disrupting the small business landing space and maybe go into medium-sized, i think. square traded sideways from february since then, i have been silent about this one let's say they didn't live up to wall street's hype even cash app came in slightly weaker i know there are doubters. so can the stock get its groove back let's check in with the cfo of square i want to get a better read of the situation. welcome back to "mad money." >> thanks so much for having me. >> i want to go to something you are doing and i find it exciting there are 20 million teens. >> yes. >> 13 to 17 that are going to get something that i think that they deserve that my kids love
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about what your company is doing. i just want to speak to how you are changing things for younger people. >> absolutely. we opened cash app up to teens in the united states of course with parent and guardian approval. they can now use cash app to peer to peer send money to their friends, to their family members and the community. they can use their cash card with an instant rewards product, with a boost product and in the future they can do even more within cash app. this is an expansion opportunity for us as we grow our network even beyond the 40 plus million users we have to teens in the united states. >> do people understand when this happened -- wall street is shortsighted -- that these are people that will make a lot of money and have a lot of money and you have to get them now, not later. >> absolutely. these are the workers of the future, the spenders of the future, and we want to be thereto early days to help with the financial literacy and bringing these teens who today trance act with paper money into the financial ecosystem. it is part of our broader
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financial inclusion purpose. >> and i think people don't understand when you think about wanting bitcoin as a native currency for the internet once again, you have not zeitgeist that can turn into profits. i don't think people realize all new form of currency speak to what you are doing with crypto because nobody else is. >> jim, we believe the internet needs a currency if you look at the inefficiencies and the information system we call money today, whether it is cross border, extra costs on consumers, inefficient in terms of time and currency crypto currency has the potential to bring efficiencies here and bring people around the globe into the financial ecosystem. we think bitcoin is the strongest contender to be that currency of the internet bit bitcoin is resilient it's been around the longest
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it's principaled it builds off of a consensus-based developer ecosystem. has a defined supply with roles everyone knows we are experimenting here in a disciplined way. >> but you are talking about bitcoin mining that you are going to help that how? i mean, help people buy cars >> what are you doing to do? >> today bitcoin is 5% of our gross profit in our customers can buy and sell bitcoin in the future we have three emerging opportunities around bitcoin mining, a hardware wallet and enabling the exchange we will be disciplined in informsing in it. >> okay. so i want to send my theory to my bank. it is a large bank in the world. no, we're not set up to handle it i said, what should we do? leave it with this no named joker? will i be able to transfer my
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t therium to a bank somewhere? and would i do it with my kids >> that's exactly the sort of thing we need in order to make crypto currencies more mainstream that's what square wants to be a part of. >> look, i don't want to slam -- we got a gigantic business, just the regular square business, and i think that's going absolutely -- it's convoluted because of the bitcoin session >> we have been incredibly surprised and pleased to see the resilience of our sellers on our platform jim, in the third quarter, our sellers were processing at higher rates than where they were two years ago sitting here a year ago in the depths of the pandemic, no one would have seen that coming. it enables our customers to adapt through dynamic times, enable them to get a loan
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whether it's ppp or through square we think we're a key piece of helping those sellers adapt. >> i was concerned yesterday you paid a lot of money for after pay, a similar product why did you need to do that? i mean, it's getting crowded by now, pay later. >> here is where we see the potential for buy now, pay later. when you look at millennials and gen zs, they distrust traditional credit it is an open and transparent way to manage your spending. it is in its infancy it is 2% of e-commerce sales today. e-commerce is booming in terms of the sales overall we want to be a part in influencing the direction of this afterpay is a brand that speaks to gen z and millennials they have 100,000 merchants. we have millions of small and medium-sized businesses. we have 70 million on cash app on an annualized basis
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we think there is so much we can do together as we cross sell our products together. >> i want to be sure because you have a panoply that few have are people spending? >> absolutely. there is confidence in the economy, and we're excited for the momentum heading into 2022. >> let's leave it at that. i don't know why the stock sold off. to me, square is the future. but i felt that because of your predecessor who explained and read me the riot act about square that is the cfo of square, a company we have liked literally for more than 200 points "mad money" is back after the break. coming up, is the sky the ammit for this stock crer gets the electric latest with the ceo of lucid next
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racing to challenge more than just tesla. can the ev upstarts put detroit on notice? and does lucid have the engine to pull ahead of the pack? >> last week it was riveting the electric vehicle ipo that soared into the stratosphere. it's still going this week it is about lucid group, whose shares are up more than 26% in two days after winning motor trends 2022 car of the year the only time that award has ever gone to a new auto maker for its first week production. even better, last night lucid reported its first quarter as a publically traded company. we found the reservation list has gone to 17,000 just since the end of september i think it will go a heck of a lot faster so earlier today, we had a chance to speak and drive around
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with lucid's ceo and chief technology officer at his headquarters in newark, california take a look. peter, first, congratulations. motor trend car of the year. a fabulous conference call last night. what's it like to actually see that >> it's unreal this is a true accolade. it is perhaps the most prestigious industry award it is like winning an oscar. and to me, my journey of over ten years with evs toing a actually get my hands on this trophy means a whole lot but i do so recognize that i receive it on behalf of the team because this is a huge team effort, and it's the team here at lucid that's made this possible. >> i think it is important for people to understand that you are in this, actually you are in this because of the environment. that is still front and center, peter. >> absolutely. this is a mission. this is no longer a job or a company. this is about a mission to help
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the environment. we cannot go on burning fossil fuels the way we do. mankind needs to transition to sustainable mobility and the root of that is technology this is a tech brace and the technology that we create in house with this car we will use to make electric vehicles progressively more affordable and progressively more mass market and we need that with a sense of urgency. >> affordable luxury a possibility one day these go from 70,000 to 50,000. race car style, okay, but beautiful with an engine that can go how long without charging >> the car has 520 miles epa accredited range in the case of the dream edition range. 520 miles. this is the longest range ev thatthe epa has ever recorded.
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>> at the same time, what people have to understand, people keep saying, oh, it's subservice. it's valued as this or that. they're always valuing to it an automobile i value it to technology i see your team. your team is filled with people from apple, tesla. it is not filled with basic people nothing against detroit. but this is not a recreation of detroit. >> exactly we're valued as a silicon valley technology company if i was an analyst in this space, i would be asking fundamental and profound valuation questions. i would be requesting who amongst the companies actually creates all the technology it has, who manufactures it all in house. we create the entire electric design and develop it here in our headquarters here in silicon valley and not only that, we manufacture it all in our plant in arizona this is 100% in house technology
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and it's world leading now, to the best of my knowledge, there are only two companies that design, develop and manufacture all that tech in house, and those two are tesla and lucid. >> all right if i go under the hood in lieu said, which could be in the size of a suitcase, would i find the same semiconductor shortage problem? will i find the labor problem and all the things plaguing other companies? look at an apple phone and say, look, we have the technology the customers love it. let's stop worrying about things that don't mean anything. >> as a tech company, we design all of our circuit boards in house. that means that we can design for alternative sourcing a different type of chip that will reduce the risk. we have been able to mitigate that risk. that isn't to say we aren't vulnerable to today's supply
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chain shortages that the entire industry is facing in fact, many industries are facing that is something that we are challenged with and have mitigation plans for. >> but you have said, let's be clear about this, you have a lot of demand, up to 70,000. that's not a problem for you to make but you have dreams, let's hope realities of 500,000 in production. >> and more. absolutely we already have a factory scaled for 30,000 units aer yoo as soon as we can get the parts to the line, we can spoon it up. the factory is there and ready, ready for 30,000 units per annual we're building out 2.85 million square feet expansion to get ready to build 90,000 units per annum. and the site itself is with its
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phase three capable of 400,000 units per annum. and we plan to have plants in the middle east and china as well. >> now, people tell me, jim, don't get too caught up in lieu said because it is such a crowded market i look at the percentage of automobiles that are sold that are ev, and i say, well, that's really what we're talking about versus the rest. >> i couldn't agree more there isn't a market for ev. there is a market for cars, jim. >> yes. >> and the penetration of evs in that market is tiny. 2.5% to 4% i'm looking at the other 96% that's our market. >> and a 30-year-old person who has some means or can borrow, do they want an internal combustion engine or do they want this? >> they want this. they want race bred technology and performance. this is a luxury car it's a beast of a sports car as well
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it's got dual personality. >> can this go faster 0 to 60 than a muscle car. >> it makes muscle cars look silly. this is a 9.67 seconds standing quarter and dream edition. this is an extreme sports car. but, yet, it is luxurious and refined. you can have your cake and eat it, too. >> so do you think when people say there will be a big shake-out, do you have enough money to last through the shake-out? and do you have the orders to feel confident enough that this can be toe to toe with you know who, who is always talking about how much money he has and. >> we just announced we have over 17,000 rders. >> and not just idle, hey, i'm interested i ed in lieu said. >> this has grown over 30% since the end of q3 and i'm seeing it accelerating. >> now that you have won the
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award, today, every day you come into work, there are more. am i correct >> absolutely. and this is when most people have never actually sat and driven in one. many people have never heard of us yet. >> okay. where are you getting these people from? aren't people -- aren't smart people flocking to work for lucid? >> more and more it is partly my job to create lucid as this beacon of light for the smartest talents around the world. cannot work with lucid if you are a creator, science, technologist, a designer please come to lucid. >> is it too late? >> no, no. join us to save the planet. >> lucid motors. congratulations on motor trend. >> thanks. thanks so much thank you. coming up, china, chip shortages and churning competition has caused a topic for intel. cramer finds out how the silicon valley stall wart plans to crack that next. wart plans to crack
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that next.
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all right. what's it going to take to turn intel around and has it started to turn already? they have been struggling for years. but when the ceo took overnine months ago, he came out with all sorts of plans to stage a comeback they still have some execution issues but more importantly find out how much these projects will cost i'm not talking about 25, 28 in capital expenditures wall street cut the shock. it didn't help intel gave down projections for sales, gross margin and earnings and in response, the stock rolled over. i agree with pat about the need
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to spend the money i do worry it won't be enough and they're running out of time to keep up with a and d. since we're out here on the west coast, we've got to talk to pat himself. we have to hear his side of the story. welcome back to "mad money." >> always a pleasure what a great location. >> what you have in your hands >> this is almost a sacred moment right? it was 50 years ago this week that the 4004 was invented the micro processor, as you know, is the thing that enabled this computing everywhere. >> absolutely. >> the personal computer, cloud computing. all of it is based on the micro proc processor. this baby was the definition of a breakthrough that changed the world. 2,300 transistors. here we are moore's law later over a 50 year period. this is our highest end high performance computing and ai chip at 100 billion transistors.
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this is the most powerful machine that's ever been built. >> what kind of foundry capacity do need? how much money do you have to spend to make a line of those that is actually commercial? >> this is clearly -- you know, this is a big chip a lot of silicon associated with it and we're seeing overwhelming demand to bring this forward we will go into production on this in the first half of next year as we ramp this into the market to deliver these highest end machines those big new fabs and like the two i have now under construction is what we need to invest to mass produce this kind of product. >> give us some color about how large that business can be three to four years' time so we know buying the stock down here which is different than buying it at 59 makes some sense. >> we'll see a newfounder design takes a couple of years. >> yes. >> qualcomm and others come in
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to use it, they do test chips, design processes and so on, so it will be in the back end i have laid out the financial guidance for five years to the street is what we did. >> and, by the way, i thought it was rational, reasonable, no hype, which is why when my boys were asking me this morning how will i approach pat. pat with 2.75% yield and growing is very different from one where everyone has expectations too high you have ratcheted them down. >> i think they're reasonable. what we did is i felt good no ceo will ever feel good when the stock goes down 10%. but now the investment play, the street nose are in coherence with the strategy i have laid out and the execution i have laid out with that it's like, hey, all i have to say is for the next five years we set ourselves up for meet, beat, raise. just like we did at vm ware. set a clear vision and then we
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go execute against it. >>sometimes i get confused you offered what i thought was a pretty interesting proposal to make chips in china. we want the chip shortage to end. i thought it was reasonable that the administration seemed to frown on it. but why should they care where they're made as long as they're made >> there is clearly concern on, you know, where and what kind of leakage might happen associated with chip manufacturing. and what we have said is we want to build in the u.s. we want to build in europe as rapidly as possible. and we have clearly gone to congress and the chips act and here we are on the air beg. call your congressional leaders. we want to get the chips act done this year we're seeing great momentum in europe we are all in. we want to build a gee graphically balanced supply chain. we're all facing the challenges in the semiconductor industry. the sooner we can get that done, we looked around the world for any place we can see that
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capacity built out more rapidly. >> okay. so what can the u.s. government do what can you do? what should others be doing to make it so we are preeminent again and not dependent on taiwan, which as you know is a geopolitical nightmare. >> the chips act is great. what it does is it unleashes for every dollar they invest i'm obligated to invest $2 plus. and i'm ready to go bigger, faster to get more factories built on the u.s. and european soil much more rapidly than we would otherwise. when those factories get here, the supply chains start to follow it. package, assembly, test, systems as well to bring it back for a more globally balanced supply chain. we shouldn't be dependent on any one hot spot in the third. >> the president has a three-hour meeting are you worried someone will come out and say taiwan semi may be in play there were rumors you were trying to buy global founders?
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untrue, right? take it off the table. >> off the table >> there we go that's what i wanted. >> what we said is this is an expensive industry. >> yes. >> high in r&d and as we move to leading edge, right, we believe you have to move to leading edge, ten nanometers over time, it will be a consolidated industry. >> we have to acknowledge -- can we get you to acknowledge that amd has made some tremendous strides? >> absolutely. they have done well. i'd say to both, they have done a good job but we are back. we are now on course we have just launched all the way, which is clearly the best product in the industry. >> is that good for -- i mean, can you -- are you sacrificing margins back you know how wall street is? walmart sacrificed margins and they eviscerated it today. >> i set a lower margin die
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dance. i get margin guidance that we clearly believe we can beat and meet over time and that gave us enough capacity -- >> i'm going to hold you to this. >> absolutely. >> those are not the old guys. these are your numbers. >> these are my numbers, and we're committed to those we're committed to the capitol investment plan. we said we are going to grow this company this will be a growth company again. and our product machine is starting to deliver. best client in the industry are becoming hpc and graphics products clearly getting the enthusiasm of the industry. >> you didn't mention mobile. >> mobile eye. i am excited about mobile eye. >> self-driver. >> yeah. in the autonomous category they said, hey, we're going to do collision avoidance. >> right. >> and they now have very high, well over 50% market share, right? and they continue to gain market share. but from that, you know, vision leadership, now it is going into autonomous l2 and l4 are fully autonomous
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and just fabulous in that israeli team this is one of my hot growth businesses. >> i am very glad we have lowered the expectations i now feel that you are on the right course i was worried that even -- that even you felt, wow, we can just turn it around in a second it is a bit of a battleship. but now i think with these prices, i'm with you, not against you. don't let me down, though. >> jim, i'm in. >> all right ceo of intel with a very realistic, reasonable and rational approach to the next five years "mad money" is back after the next break just chill out. >> chill man is in the house he's happy. >> the lightening round is coming up when "mad money" returns.
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lightening round is sponsored by td ameritrade it is time it's time for a special west coast edition of lightening round. this is of course from beautiful san francisco. play this out and then the lightening round is over are you read start with jennie in michigan. gen >> caller: hey, jim. thanks for taking my question. and the question is: what is your opinion of casava sciences, a biotech for alzheimer's disease? >> this is not the one i don't think they have it i don't think biogen has it, even though matt here is going
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to pay for it. i think eli lily has it. and, remember, you can follow along by going and joining our investment club. can i go to joshua in pennsylvania joshua >> caller: how is it going >> all right josh how about you? >> caller: pretty good i'm calling because of root. >> roots is a really great restaurant root is a not so great insurance technology company which i think is a part of jerry. >> caller: mr. cramer, how goes it >> jimmy chill, what's going on? >> caller: first time caller and long time listener and a new member of the cnbc investor club. >> that's what i want! give me some great sounds. how about this one well, let's get a couple of them go ahead >> caller: hey, jimmy. thanks for your guidance and
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having our backs quick question, my friend. dana global, ticker symbol dta. >> so many of those. and i'm going to tell you by salesforce then we don't have to fool around don't worry about the new young ones we can go with the established ones i'd like to go to barry in massachusetts. barry! >> caller: hey, jim. i want to ask you about docsimiti. >> up and down and up and down. i remain convinced that the doctors love it. therefore, bye, bye, bye eddy in connecticut. >> caller: yes jim, how are you >> jimmy chill is doing fine how are you? >> caller: very good viacom cbs. >> i think is stock is not expensive at all that is the conclusion of the lightening round >> the lightening round is
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sponsored by td ameritrade. coming up, why is walmart positioned to help you beat inflation? cramer has got the answer next tomorrow, kick off the trading day with "squawk on the street." live from post nine to the nysc. >> go over that conference call where the cfo said, listen, one thing you want to make clear we don't need money. no no no money here. we're fine unbelievable >> it all starts at 9:00 a.m. eastern. squa
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. call me biassed. i love my walmart. why? two reasons. fresh produce and ridiculously low prices that matters when you buy a fishing pole there as i did two months ago, you end up getting two it was like buy one get one. bogo why not?
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at the time i mentioned to my stepson, how do they get away with these prices? they must be taking a beating! turning out i was right. they in this case refers to my childhood trust and all the other shareholders who own the stock of today's biggest loser walmart reported all the most important numbers were up except one, the gross margins that means how much they make on each items after you subtract the cost of goods sold we look at the noticeably shrinking margins, it is clear what i saw at my own walmart is happening at walmarts all across the country. lower prices than you could expect or reasonably justified because this company will always be america's price cutter. that's its reputation. walmart is a blessing for consumers. what about investors 149. they were buy it back and dipped to 144 today it got to 143. when you look at how the stock
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reacted to the quarter, right before the market opened and immediately in the red when we saw the gross margins, you know walmart doesn't have the profitability as other retailer stocks 6% in home depot today is there something magical about home depot that lets them make more money no right now expanding margins are the rule walmart is the exception because they're so committed to giving low prices it is a decision to make less money. fighting inflation is in walmart's dna. at somethings are pushing up prices across the board. walmart is on a mission to keep giving you incredible margins. you can see it if you shop there. i applaud that that should pay off in the long run. i wish they would buy back more stock. so far they repurchased more than $7 billion worth of shares when they have a $20 billion repurchase authorization and i wager most growth oriented
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money managers will dump the stock. maybe even more than it did today. eventually walmart will be picked up by more value-oriented managers, but they start buying substantially lower levels bigger kiss counts how long can the company maintain this policy forever. normally they would change the strategy to boost earnings but the family still owns half the shares and they're on board with the vision of every day low prices no matter what. short-term it looks like a dopey idea compared to what we saw this morning from home depot which has terrific numbers bolstered by contractors who pass that on to you for the projects they're doing but when you compare it to most other stocks long-term, walmart has been a huge winner that's why we're sticking with it for the travel trust. sold at the 149 level even as it was painful to watch home depot
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go up so much on a day when walmart stock went down. remember, it is like walmart missed the numbers this wasn't a classic beat and price quarter from a company that's gotten -- should have -- i don't know it's been doing that for a while now and nobody cared they had a huge back to school season, a gigantic halloween and they seem poised for a kol loss sal thanks giving. they have made huge strides in their digital business they have the best data and using the best software and animation. they have a digital advertising business that is growing like a weed they talk about a fly wheel effect created by adding fulfillment services and using the store's distribution centers, something amazon would kill for it is not pie in the sky it is already working. when we see it pay off, i think the stock market will reward investors. the founder was an inflation fighter from day one the tradition continues when inflation stops raging, the new
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customers will stick with walmart and the consumer as well as the stock will then be triumphant i like to say there is always a bull market summer i promise you to find it right here on "mad money." see you tomorrow the news with shepard smith starts now shocking new accusations against the mother of a 14-year-old girl who went missing. i'm shepard smith. this is the news on cnbc jury deliberation in the murder trial of kyle rittenhouse, the teenager accused of killing two protesters last year in kenosha. how the defendant himself helped select the final 12 jurors president biden hits the road, selling his bipartisan infrastructure deal. >> we will once again have the best roads, bridges, ports and airports. >> now he is showing americans how the money will be put to


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