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tv   Fast Money Halftime Report  CNBC  November 18, 2021 12:00pm-1:00pm EST

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and the online delivery firm will list on msci. get ready. a number of more indian companies coming to market thanks, seema modi interesting day. the hill now reporting that senator manchin is looking favorably at powell after a chat we'll keep our eye on that let's get to the half. >> all right lots to watch today, carl. thanks so much welcome to "the halftime report," front and center this hour nvidia joining the trillion dollar stock club. we'll debate whether it's too late and too expensive to get in our investment committee joining us is kerry firestone, steve weiss, and jon najarian co-founder of market take a look at what stocks are doing at noon in the east. the dow is down by 86. it's off the lows and s&p is a fraction higher by 11 points and
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the russell's negative the ten-year note yield 150. we do want to focus on nvidia. the big blowout there and it's the new n in faang josh brown, i know you're not surprised. i want you to listen to what you said then, and then we can talk about this quarter on the other side of that >> the market doesn't care about a lot of the ways that stocks like these have historically been valued. it's not texas instruments they're not stamping widgets it's a company that's involved literally in the transformation of the world the next phase, the fourth industrial revolution is marrying the physical world to the digital world. that's what us and our children are all about to live through. >> i mean, six days ago, point being, sell it on valuation at your peril, and today we learn
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why. >> i hate the sound -- i hate the sound of my voice. i'm so obnoxious let me try to change my tone so -- so, i mean, the growth is ludicrous. revenue growth of 50% for a company of this size year over year is crazy. data center -- >> 55% data center, 55, gaming, 42. >> then they have this thing which is the omni verse which last week they had the gtc event which is their user conference, right? and jensen wang, the ceo transformed himself into an a.i. avatar and people were able to ask him questions and he would answer the questions, but it wasn't him it was a digital rendering like a cartoon character in the omni verse of him literally with the suggestion engine and artificial intelligence and all of the
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things that nvidia does better than anyone else on the planet combined to create this amazing thing, and if you're watching this company, you see that -- what's coming next is going to be this marriage of all of their technologies from suggestion engines to augmented reality to virtual reality and of course, gpus will sit at the center to render the digital images and they told us last night on "the call" how they're going to make money from this. it's licensing they're going have the must-use platform for metaverse, omni verse, multi verse, whatever you want to call it. picture $20 million companies having to slip the switch on and utilize their tools in order to build the things that they want to build in service of marrying that digital and physical reality and this is not just about let's make a cool video game with the omni verse tool, basically a company that's
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thinking about deploying robots in the real world can create digital versions of that robot, a digital twin of what they want to actually manufacture and sell and put it in an extreme version of a 3d rendering of the real world and test it out and see what happens and automaker, too. when you think about it from that standpoint, think about the trillions of dollars over the next ten years that can be saved in developing things from the real world by first putting them in the omni verse and seeing how the elements react with each other. it's this incredible, creative, imaginative story and it's not promises and it's not pie in the sky. they're making a ton of money and i just don't see where that would stop any time soon >> it's an expensive stock you own calls, good on you, as well price target goes to 400, 335 at
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mizuho, 360 at bernstein which had some interesting commentary to go along with their bump. quote, we admit to white knuckling it here and for now, we're willing to embrace it. i don't know hold your nose and buy it? is that the same kind of thing because even though you think it's expensive, it's growing and the growth is unbelievable >> oh, yeah. growing like a weed, scott, without echoing everything josh said, focusing on the fact that the mining chips fell off the table this time. why did that happen? i imagine they couldn't deliver any of those chips to the minors >> theydon't exist >> i imagine -- what they don't exist what doesn't exist
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>> i'm saying the chips. you can't get them like, there are people paying 100% above the normal price. right. you're 100% right, jon >> yeah. i agree with josh, but in terms of delivering these, you know, whether it's sold at retail price or whether it sold at that marked up price, i think a lot of those chip, scott, will get booked this next quarter anybody that looked at this earnings call which was phenomenal and the gaming side of it josh and the cloud gaming side has over 14 million people on here. the only reason, scott, that i couldn't tie up as much money on this one is because of the price of the stock it's double the price of apple it's a $300 stock, now $320 today and a 3,000-share position cost me $3.2 million instead i own a bunch of call spreads that i've got maybe a
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tenth of that, maybe 300,000 and maybe less than that and controlling the 10,000 shares about everything i heard, just like josh said was very positive and like i say, if we're right about the booking of those chip sales going into the next quarter, well, then katie bar the door on the next quarter too, john. >> on the march to a trillion market cap company ready to join that club. it's right around 800 billion. we continue to watch that. i understand why there's so much giddiness around a name like this the stock is up 140% steve, year to date. i know we ridicule the idea as it relates to this stock, just downgrading it on valuation, but it is a fair question, is it not, to ask what you would be willing or what you should be willing to pay for a stock like this after it's gone up so much. how do we deal with that kind of
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question in this environment a great company growing by leaps and bounds, and yet the stock is up 140% year to date the market cap is close to 800 billion now. >> yeah. and that is the question i'm bitter that i sold it a while ago. i made money off the calls and i didn't have anything going into the earnings now, but even my dog knew they'd pull out this quarter. y is iso i'm surprised it is up 10%. you have monstrous growth, better than 50% growth in the core businesses and it's tough to find that in this kind of company, but i struggle with the valuation, and i've got a discipline and i just can't buy stocks as core positions i can trade them, but the volatility here was too great for me going to the earnings and that's why i didn't trade on the prints which is always good to do, but i have discipline.
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it keeps me out of trouble more than makes me money and that's why i'm unwilling to buy that, buy a company that's valued this high >> i know, but you just said -- you basically said -- >> without a doubt. >> you said you missed it and you can't buy it now because it's too rich, but if you missed it here thinking it's too rich or you won't buy it here, surely, it was still too rich back when you should have bought it because the valuation was still huge then. >> absolutely. i also missed rivian and tons ever others and i'll miss them and i'll make money in much cheaper stocks like a gso is up 80% in just the three months so, look, more power to josh, to jon. i'm happy it trade them, but i'm not trading on events like this. look, their dominance is clear, particularly in this area of
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tech doesn't last forever. >> you can take advantage and it's not by accident >> you can say -- you can look at apple and say, well, look what happened to nokia or whatever, research in motion and dominance like this doesn't last forever, but for the cream of the crop it does, right? and as i said at the top, put nvidia, netflix, with all due respect, put nvidia inwith the faang because that's the new n there. when you said and we look at the growth that you get in nvidia and 50% growth here, 48% here. 56% here it's the exact same conversation we are having after all of the big five reported their earnings and i cannot believe that these companies are reporting what they're reporting. that's why you're willing to continue to buy these stocks,
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steve. >> no, that's absolutely correct. the runway got tougher because you have so much toughness in semis and they're trying to meet demand in their core businesses so they're not out they're saying we hope we can invent a chip with nvidia and that makes the runway longer for the foreseeable future i did make calls and i bought them for what i thought were reasonable calls, 370s going out a few months so i'll make money that way, but like jon, i want to control my risk in this name. until next quarter, if the market goes up, it will go up at least as much as the market. >> it underscores, kerry, kind of where we are in the mark, does it not? as we're having a conversation and in the last hour or so, john
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malone, when he looks at the growth areas that he didn't say nvidia by name, but maybe you put in the basket of stocks and it's going up a whole heck of a lot, 140% year to date it's like the late '90s and speaking up at an event in boston fueled by the easy money policy is this stock a case in point of what they're talking about even as great as it is, is it really -- should it really be up 140% year to date? >> yeah. >> so, good question and -- by the way, i have two dogs who never give me good stock tips. so maybe steve can send me the content information for his dog at some point. >> cramer tried to do it before. he had nvidia and that has been played and by the way, played
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well >> if you would have bought nvidia when cramer first named his dog nvidia how many hundreds of a percent you'd be up right now. >> exactly so nvidia, by the way up 145% this year, and 122% last year they didn't beat by that much and companies do that for periods in which momentum is carrying them and this is a stock that all of the momentum players are buying, and it's on every reddit board you can find so much positive information about nvidia, and as josh says, it's taking over the unverse and it's going to solve everything and every company's future, but there are times and we have to remember this as professional investors for sure
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and it is taking over the world in whatever area it plays and you buy it at the top and had to explain that to your clients, institutional or individual clients after and do not have an answer to the question, why did you buy that stock other than that it was going up and it has an incredible future. that's not a good enough answer. >> i think, for example, moderna is an incredible company and the stock phenomenal, but if you paid close to 500 for it you might at this point say gosh, at 450, i should have waited before i bought the stock because you don't know when it's going turn and nvidia like tesla can go up another 50% or 100% in the next six months and then it can just turn around and go down because there aren't any more buyers and that's what you have to be worried about if you don't own
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the stock. i would apologize. i don't own the stock. we wish we did, but it's hard to make that case right now i would rather make that case if you were to fall 20% or at least then it's not 65 times forward earnings if you had to say something about valuation and i get it the that maybe you don't. >> i hear you. >> so, josh, let me ask you this it's a question i posed at the top of the show. is it too late is it too expensive to buy it today if you don't own it? is it irresponsible to suggest that you can still buy this stock today given everything that we discussed and the positives and the long runway that we see in front of us and then you back it up and look at the stock, look what it's done and look at what the valuation is today >> there's really only one good answer to that question and that is position sizing so it doesn'thave to be binary i can't buy that stock now and by the way, i never tell anybody
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what to do i tell you what i'm doing. if somebody is looking at this -- >> you wouldn't buy it here, would you? >> i don't care what size position you wouldn't buy it at 323 you said it was too expensive. >> right i don't need to buy it today i think this is important and this goes way beyond nvidia and this applies to so many stocks that i've either done well with or missed out on shopify for me is the stock i knew i was supposed to buy, and i didn't the right answer when i think back is not did i know it wasn't the top in shopify because i don't know, right? nobody actually knows. the right question was, would it have killed me to put x dollars into shopify and then get cut in half it probably wouldn't have killed me in hindsight, and i shouldn't have done it and the answer is not, try to guess the future and it's not realistic that anybody can do it consistently you might do that once, and you might do it twice and throughout
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the whole career the right answer is to say i have some exposure with nvidia probably in my 401(k) because i own the nasdaq or i own the qs in my brokerage account, and i already have some nvidia do i want more if the answer is yes, how much would i put in it knowing that this stock has a history of 20% and 30% drawdowns and getting ahead of itself and getting over its skis i can live to a 20% to 30% drawdown in x dollars and that is the right way to do this. the right way to do this is not, you know what? i'm pretty sure this is the top so i don't want any exposure at all. i don't agree with that approach i've never met somebody that can do that reliably all the time. so my way is maybe less upside, but it's probably less regret. regret minimization is what keeps you alive on wall street >> i want to use the next
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example of a stock that's going in the opposite direction. that's cisco today after reporting a revenue miss and weaker-than-expected guidance, as well. and why would you spend money in a stock like this when you can pay up probably a little more than you want for almost tried and true guaranteed growth like nvidia let's bring in jim lebenthal because he does join us now and he owns the stock. what's the answer, my man? why bother >> listen, i'll answer the question and it's the right question to ask. i'll answer it in a framework. i look at what's happening to cisco today and i ask myself is this a repeat of what happened with intel because intel had actually outperformed the s&p 500 for many years and then it had a series of operational missteps and that outperformance dwindled and there was underperformance and there was a lot of regret. i don't think that's the case
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here in cisco, and i think that's a buying opportunity and the reason why is very simple. the stock is off so much today because of the guidance going forward. the guidance going forward is about 1.5% below where consensus was on a revenue basis and it is all because of the supply chain. that is the epitome of a temporary temporary factor like intel's operational results. so i look at a company where demand is there. there's no question that the demand is there. there's reason to believe that the demand will not only be there, but expand with infrastructure and with capital expenditures that are coming because corporate profitability is high and the demand is there and they just ran into a supply chain problem and they're the latest victims of that and what you have to do is just wait this out if you're in it. this is not a time to sell it. it is a time to buy it, but to be fair and to be as honest and accurate as i am this is probably something that will be flat in the 50s for the next three to six months. >> that's optimistic for the
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people who are currently holding it like you. i mean, i just feel like i want to bundle this stock, this is where i'm going. you can put it in a basket of so much has to go right stocks for them to really perform well and that's where i feel that we're at and so much has to go right now for intel to take off and so much about ibm's strategy has to go right whereas you look at the other stocks that are really taking off, it's amd it's nvidia. it's microsoft it's apple and the other stocks like that, what do you make of that >> there are two parts to what i said one is the comparison to intel and ibm and i don't see the comparison there
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i see very long term business model problems like ibm and intel that i just don't see with cisco. i see a temporary supply chain issue with cisco, but you raise a very good point. when you compare this to amd or nvidia, obviously, it looks terrible i would submit to you that just about any stock in the world would look terrible when you compare it to nvidia and that's definitely not the metric that i would use. i have a portfolio of stocks and i have high-flying shoot the lights out stocks. qualcomm, for instance is one, but there are others that i'm looking to be my steady eddie returners. it has performed, including its dividend, just above its s&p 500. it's had some good years and bad years. as long as that demand is intact which i believe it is and there is a short-term supply chain issue which i believe it is, then it would continue to be a slight outperformance of the s&p 500. i cannot compare with nvidia and
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that's not a comparison for cisco or any other company and certainly like a day like today, it looks crumby on an absolute relative basis, but on an absolute basis -- >> just today? i can't play that game i should also remind you that nvidia ceo will be on mad money. don't miss that. he's on the mt. rushmore of ceos for jim. he's made that clear so you want to hear that interview. all right, jim i appreciate it. you're staying with it i didn't expect anything less, but it's an interesting juxtaposition, nvidia and having a conversation with kerrie is
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tom leieberman was with us yesterday and look at bitcoin under pressure, it's down 10% for the week where do you think risk sentiment currently is, kerry and where do you think we are going? do you feel like we're topping out for a near-term? >> well, it's impossible and dangerous to predict that kind of thing one is that the market has decided that it's in love with the stock, in this environment it carries it just to extraordinary heights. we are in nosebleed territory when it comes to look at the rivian example it was valued above 90% of the s&p 500, you know? what happened with tesla where we're seeing the buying in nvidia, i'm not having any quarrel with what the great companies are with and the
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buyers are rushing to what they love and they are discarding what they decided is not good enough and think, i feel it because paypal, for example, and we own some visa, but some of the stocks we own just go through the roof on a daily basis. so, yes, there's momentum with the enormous capital "m" and the rest of the word in big caps and you have to be careful about what happens when the momentum changes. the guidance that companies are giving now while it's their best effort, it's still very unclear because of supply chains who would have thought that some retailers would say we have absolutely no problem getting product. our inventories are flush and then you have other companies that have to say, hey, look, we don't have that inhave ventory,t we expect that they will and maybe something happens that changes that equation. so i believe that we have to be very careful about the extreme buying and selling that's going
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on in names. look at macy's i think that could be short covering >> hold on we have that coming up we're going to talk about macy's coming up which i know you know. >> a lot of speculation. >> a lot of speculation, and i think it's important to be aware. >> doc, i want to get your thoughts on what you think is happening with bitcoin it is down 10% in a weekand what that says about current risk sentiment because it has been on track when speculative fervor is at its purest and its highest they've rallied the most and now you have wariness and here we have bitcoin down 10% in a week how do you view it >> two things, scott number one, that fear and greed index for bitcoin reached a high, a multi-month high this past week. that doesn't mean that it's always right, but when the greed gets that strong usually we see
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a correction much like when the fear gets very low or when it spins the other way, and that's a great buying opportunity i think marathon digital this week, scott, mara, when they announced that first 500 million in dilutive offerings so that they can raise money, obviously, they ended up upsizing that to 650 million. you put a fork in it right there. not for the long term, but for the short term, like bitcoin and ethereum and the two biggest by market cap just get cracked immediately and so usually, what we see when bitcoin and ethereum are rallying, we see coinbase and even robinhood and voyager digital rallying to the upside when the coins rally, those stocks rally this time they flipped it around the stocks were all going down and going down rather fast, much
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more than bitcoin, i think marathon is down 36%, scott, since monday this week when it peaked at 76 and now it was 48 or 49 a little bit ago so that kind of flipped it on its head and that will wear off into next week, so i still am bullish on it until the end of the year. >> let me take a quick break macy's is soaring on the back of its earnings it is now up 230% this year. activists and hedge funds gettg to tininhis stock. should you, as well? we'll debate that when we come back in just two minutes
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as i observe investors balance risk and reward, i see one element securing portfolios, time after time. gold. your strategic advantage.
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powering possibilities. ♪ ♪ good day, everyone i'm tyler matheson here is our cnbc update at this hour house speaker nancy pelosi says a vote on build back better legislation being happen today she says lawmakers are waiting on the congressional budget office to report on the cost of the bill the man who fatally shot ahmaud arbery says arbery's demeanor struck him as suspicious when he approached him to ask him about a probable crime in the neighborhood he admitted he did nothing to threaten him, but he perceived him to be a potential threat
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he misspoke when talking to police in giving conflicting descriptions of what took place. on the news tonight, the danger of testifying when accused of murder and whether travis mcmichaels is helping or hurting his own case that's tonight at 7:00 eastern with shep on the news. >> russia is reporting a new record number of covid death, riding to 1251 the latest surge keeping cemeteries busy holding funeral services the price of thanksgiving dinner expected to jump 14% this year the american farm bureau says it is still under $6 a person, but it's the most expensive since the group began tracking prices back in 1986 adjusting for inflation, however, current prices are still below where they were five to ten years ago. scott, back to you >> ty, appreciate that very much you know what? control room, i'll throw a curveball and i apologize, but
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i'm seeing something that is making headlines and it is pushing apple closer towards its all-time high. can we throw up apple shares jon najarian, there is a report just crossing here that suggests and i'm pulling it up again, this is happening in real time, folks. they're accelerating work on a car and they aim for a fully autonomous vehicle that's according to a bloomberg report we have not independently verified that, but of course, we're working on that, as well and we'll bring you more information as we get it, but look at that right there that's the reaction in the stock and i wanted to bring it to your attention. 2% and the stock is trying to push back at its high. the car could be released in 2025 which is earlier than anyone would have anticipated, i think. this is, i've spoken to some executives at ford and i know
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that they think that we'll be getting into autonomous vehicles and it's all about owning the screen and apple doesn't want to miss out on that in other words, scott, the car and the experience driving the car, that's not going to be what it is in 2025 and out into the future it's going to be about the screen, the entertainment that you get when you get into that autonomous vehicle and just relax, watch and consume various entertainments and it probably won't just be sitting around on our phones tweeting and things like that. it will probably be people enjoying what's on those screens. that makes that unbelievably valuable, not the car itself, but the fact that you control what those people in the car are experiencing and that's going to be huge for everybody in the space. by the way, if i were ford and general motors, i wouldn't quit the business, but i would certainly spin off these ev divisions. i don't know why they keep them
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under those shackled, if you will. >> sure. >> -- as they are right now. rumors about an apple-related car are nothing new for the last five years we've been hearing report on speculation about and talking about the idea of an apple-related vehicle. what pushes this story forward today, again, reported by bloomberg is that apple is accelerating its car and aiming for a fully autonomous vehicle and that's pushg the stock higher by 2% and i am just told that apple is not commenting to our own josh lipton. so we'll continue to follow that josh, do you want to opine on this i know you're a shareholder, too. >> yeah. thai have $200 -- probably closer to their 230 billion in cash who else should be doing a car
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and what else should apple be doing? they're not interested in acquisitions, right? they've made a very, very small handful of notable acquisitions so they're not going to do that. there's only so much in dividends that they're going to pay out and the buyback is already huge they're spending tons of money in rnd and tons of money in capex with the headquarters and things they're building around the world and they still have too much money piling up so i do think they need to think bigger and i think shareholders have been waiting for them to do that and they have endless resources. there's literally no one else on the planet that has the resources apple does until we start talking about sovereign nations. >> i do understand all of that >> i'll buy an apple car >> i do understand that, but you do -- you do have a more competitive environment than you've had ever in that arena, don't you, josh. >> for what? for autos? >> yeah. ev >> this is what -- mira, this is
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what people don't understand about apple, they don't want -- they don't want 50% of the market, they have no interest, and they're not going to compete with ford with a ford ifiesta, and they're not going to compete on the first try make literally the best version of whatever the top 20% of -- of people in the world have the money to buy and that's where they're going to compete and they'll have the best margins and they'll have the wealthiest buyers, and then maybe they'll ratchet that down and try to compete at lower levels apple doesn't come into a market and say let's be competitive with the lowest cost operator. they have no interest in that, they've never done it. i'm bullish on everything they try right now, but they have to do more. >> that's not apple's plan to
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spend $200 billion they are a low cost manufacturer -- >> he wasn't suggesting that --? he'll argue with me no matter what i say we know what's going on. >> stop! >> i don't want to argue with you no matter what. >> stop! >> just cut the mikes. just cut the mikes i'm not dealing with this nonsense, all right? he wasn't suggesting that they're going to spend $200 billion on the car he was suggesting they've got so much money -- >> can i make my point >> no. >> it's -- kerry, i want to get kerry into the conversation and this falls into ridiculousridiculousness and i just don't want to deal with that. >> kerrie? >> yes, scott. yes, scott, yes. i want you to opine on the story. do you have a view or not? >> do i. i do have a view apple is a technology company
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and cars are becoming technology devices and to the extent that it's a huge market, think about the auto industry and it has been the greatest industry and midwest revenue-generating industry in the world, it certainly isn't now, but why wouldn't apple want to be in that business? and they're a technology driver, they're innovative they have billions of dollars of cash, so absolutely they should, but they will also number are other verticals. this isn't the only one. they've announced this, and i think it's likely that we'll see more announcements precisely because the profitability of this company is so enormous and the size of it, the revenues of apple, of one company are much larger than the entire medical device industry of the world there's a lot of health care that goes on out there and apple is bigger than all of the companies in it, so, yes, there
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should be in it and there are productivity enhancements and technology design and interesting options that they can devise for cars, definitely, yes. go for it, apple stocks should go way up. >> steve weiss, i'll come back to you here's the point, okay i think the point that josh was making is they're sitting on a mountain of investable cash, okay they don't do big acquisitions they just have not beatz is the biggest deal they've ever done and it was small relative to other, a company sitting on $250 billion in cash could possibly do. if they want to do that, why not invest some of that into a project like this? >> okay. here is the informed answer because it's not in their dna. they've tried to set up partnerships with car manufacturers, not build
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manufactured facilities. so it would be much higher business for them than it would be for the auto manufacturer and number two, it would get the cars on the road sooner and until now they've been able to form that partnership because they want too much eventually it will happen, so my point is they're not going to spend 2 hun or any part of it building out facilities because that would be a ridiculous business for them and completely out of what they've done in the past so my point is yes, they will do it and they'll do it in the most proper way possible by taking a piece as they do in their app store. >> all right let's bring in phil lebeau who stat down on the chair for us. phil, are you there? >> i am, scott how are you? enjoying the debate that you guys are having. look, i want to give you some perspective, if you look at this report and take this report and say it's accurate and we've not gotten the comment from apple and let's take the report and say it's accurate and they do plan to real out an autonomous
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vehicle by 2025. a couple of points to keep in mind if you'll have this in service and out there in 2025, you would have to start production probably by late 2024, and if you are apple and you are going to manufacture this car, one of two ways you're going to do it, three ways, one, you build the plant yourself i'm not sure you want to do that two, you go to an established automaker, hyundai kia, and we stand by the report that there were discussions between apple and hyundai kia to perhaps manufacture a vehicle at the kia plant in georgia you could go that route or you go to a third party like fox com. it now owns the auto plant that was previously lordstown motors and you have an established plant that is ready to go if you are apple and you go with a contract manufacturer and that decision would have to be made
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early '23, in that timeframe and you would have the pieces come into play over the next year that would give you a real indication about whether or not we could make this timeframe in 2025 >> there is enough speculation around it when apple hit a new 52-week high on this report. 157.87 so it's about 40 cents or so phil, while i have you, we're showing apple it's the biggest company on planet earth and it's also worth noting rivian which took a 15% dive on this news, and you know you have been astounded like everybody else has with the hyperbolic market cap that this thing's been straight up. it's been crazy. >> right i'm not surprised that it's moving lower. >> parabolic
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>> overall, people looked at this report and i talked to a number of people in the auto industry and everybody said the same thing it will fall at some point and it doesn't mean that this company doesn't have great prospects. we talked at length over the last week and a half about the prospects for rivian they still are amazing and this is a company that could grow and could some day be a serious threat and competitor to tesla it doesn't mean it will be as big as tesla don't go off and think i'm calling it the next tesla, what i'm saying is they've got some greatassets and some great management know how there that they can build on, but it's early, scott there's nobody in the auto industry who when i talked to them about this move over the last week there is no one i came across that said it made sense it is pulling back that does not mean that we're saying that rivian is not an interesting company that people should be interested in. is just means that there were so many people piling in and it was people who were buying this
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stock fearing that they were going to miss out on the next tesla, and i understand that, but he put it best he said there is nobody who is doing any kind of true analytics and saying, oh, yeah i think that these guys will grow into the valuation. >> pulling back in quotes. it's still at $105 billion market cap phil, i appreciate you jumping on that's phil lebeau >> you bet >> jon's got unusual activity and we'll be back after this ♪ ♪ this week luxury carmaker porsche unveiled two new versions of its electric car, the tycon, and is sells by 2025 and 30% by 2030. the company is also investing in sustainable, synthetic fuels to power its vehicles with combustion engines that is your esg fast fact of in sus
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>> all right unusual, dr. j, what do you have for us today >> all right
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quickly, scott lucid, lcid. next week expiration on the 26th that's black friday. obviously, we don't trade on thursday next week so time decay is an issue, but they're buying the 51 calls here i already had lucid calls. second one, igt, international game tech. this one a lot more time, april 31 calls with the stock at 29. i was in international game tech i have rolled up, scott, and i like this one all of the way out until april. >> dr. j, thank you very much. macy's is soaring to three-year highs and leslie picker is following the money with a new report she joins us in two minutes.
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last month that shares of the retailer could double if it followed a similar playbook as sachs. the owner of the luxury department store recently separated its ecommerce business reportedly planning to go public next year to $6 billion valuation. so in this morning's earnings call, macy's ceo noted the, quote, significant value that the market is assigning to pery commerce businesses. several other hedge funds have caught onto the macy's potential, and the recent 13 f's out this week. shares of macy's tripling so far this year, scott so it's definitely been on a nice run for those hedge funds
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in it. >> it was your final trade a couple days ago, too >> yeah. timing was good on that, scott this digital marketplace curated digital arketplace with miracle, this company that they're going to do that with. they predict as much as a $10 billion revenue run over there on the digital side. that would be just blowaway crazy and fantastic. i have rolled up these calls i'm still in some, scott, because i want to be in for black friday, next friday. i'll probably start lightening up after that. >> macy's ceo is on tonight with "mad money" with jim n't ssdomi that. we'll do "final trades" next
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all right, let's do "final trades." carey, you're up first >> united health care. it sells for a market -- it has above-market growth. very high cash flow. and we are having higher employment levels, and that's really what drives their business, more employees who need healthcare. >> okay, dr. jay >> ntr, scott. a big trade. it's nutrients for fertilizer, more or less, nitrogen, phosphates, things like that, big tradeout in june i bought calls >> weiss and josh, we all play on the same team here. let's never forget that. steve weiss, give me your "final trade," please >> we do, but differences of opinion are good >> and difference of opinion is important. it's the hallmark of what we do. personal arguments, we don't do
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that what's your "final trade"? >> freight fedex specifically. retail's doing great guess how they get their goods freight. >> good stuff. josh brown >> don't tell anyone, but a massive breakout in amazon is possible it's challenging that 3,700 level once again it's knocked on the door i think eventually it gets through. >> thanks guys "the exchange" is now. thank you, scott hi, everybody. i'm kelly evans. ahead today on "the exchange," a monster day for retail macy's and kohl's both surging after results. how did the market underestimate them the ceo of kohl's is about to join us. and a partnership in the metaverse, nike, a company founded to get people to go out for a run, is teaming up with roblox where people stay home and play in a virtual world. so what will you do in nike's metaverse, and how will both companies make money from that and one of the hottest recent ipo


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