more than 70% of votes were in favor of amazon. how much should we read into this employees recognize that, hey, compensation and benefits are actually pretty good at amazon, relative to the rest of the sector >> yeah, we should read a lot into this. it does feel that amazon is indestructible right now i mean, find me a company that handled a union drive worse than amazon did over the past few months they had employees, you know, basically sending photos of them peing in bottles on the job. the workers have come out and provided that proof. and yet they crushed the union in this effort it really just goes to show you that the state of american labor right now is pretty weak and amazon -- that was the biggest challenge to them. were they going to change the way that these fulfillment centers work and it doesn't seem like that's going to be the case anytime soon if you're amazon, you're in a pretty entrenched position right now. >> yeah, i mean, you have a point. there was peegate, traffic lightgate, mailboxgate, so many pr missteps.

looks like amazon came away the winner. >> what do you make of the fact amazon is a company, they have recently increased the minimum wage and their side of the campaign is we provide good jobs we plorovide good wages. why pay union dues if you have this is it likely there are other companies that could be vulnerable if they didn't have that side of the argument to really push here >> yeah, leslie, when you think about amazon, you have to see what we're looking at is we saw that employers and workers were not happy in some cases. elderly folks worked there and mentioned things that could have been changed but we're seeing management is actually realizing this we see from jeff bezos, they are hearing the issues but we saw jeff bezos spoke out about admini administration's policy. so management is realizing this is a real issue they want to get a foothold in front of now that's aside from the investor standpoint if you're an investor, we're happy and especially younger people are looking at it this is somethingyou want to take a strong look at and for management, they are doing that but

big, big numbers for amazon. the stock jumping to a record high as sales hit $108 billion a full rundown is straight ahead. >>> twitter shares crushed despite better than expected results. we'll show you how the company performed in the quarter mostly devoid of some guy named trump of his tweets. >>> another big day for earnings we hear from chevron and exxon and bring you the first interviews with executives from both it is friday, april 30th this is it you know what's next sell on main go away. "squawk box" begins right now. >>> good morning welcome to "squawk box" here on cnbc

amazon has a -- alabama has a right to work state. we did see house democrats last month pass the pro act and elements of that pro act that are embedded into this infrastructure proposal from the biden administration, as well. part of that process actually i think would move to strip the right to work provisions away. are we gearing up for a bigger, broader, more federal level push to see more unions or to see the ability of more workers to create more unions right now >> i think there is a push towards getting an elagantarian set-up the act was created to level the playing field, to give equal opportunity for workers to have a free choice in the selection of their representative. when franklin dell nor roosevelt pushed for the nation allay boar relations act the idea was since corporations are free to structure their corporation and select their officers and managers, workers should have the same ability to do the same thing. the election process as it has evolved involves now a lot of employer interference. president biden stated th

amazon, everything seems on trend. how does it filter into the investment case from here, and i ask because just today the stock nosed above where it traded on september second it's been swais. it doubled in the year before that what now valuation-wise gets you excited based on the numbers >> yeah. like you said, they crushed the first quarter numbers. and everyone was concerned about the q-2 guide. that was better than expected. q-2 is the first quarter of a lapping the pandemic search from last year. revenue guide was strong 28 % growth at the high end. that was above us and the street at high teens growth and then the op income guide was huge at the high end, 20% above the street so we did raise estimates price target from 4400 m implies 30% up from here i think we need to continue to sustain growth i think it should get the stock moving the stock has been inching up the last couple weeks. we have a lot of up side for the price target, and we expect it to be a strong year for the company. >> and aws, again, it was s

think that amazon is not expensive, i tend to lean value. you know, 16, 17 times ebitad next year by a handful of folks on the street not relative to its history. i know you want to see growth out of aws but that number had to come down the e commerce here and profitability in that are incredible and i think it's time for next move higher. >> it's a value stock relative to itself on ebidat basis. >> yes. >> let's get to twitter. >> watching that stock drop after reporting. julia boorstin with the details. >> twitter share down nearly 10% by couple factors user growth of 7 million fell one million short of expectation and revenue guidance lighter than analyst anticipated though did -- double revenue by 2023 ceo told me the guidance does incorporate the new operating system to enable people to opt out of ad targeting. he said the impact will be modest and measurameasurable couple points where it is trend, brand advertising got off to a slow start with a strong march direct response advertising, a newer business for twitter was strong all quart

>> i'm not worried about amazon. it doesn't affect anything i do on a daily basis or the investments we make -- >> what about -- >> sorry go ahead. >> what about the tax base, i know you have investments there, building a quiet presence in financial services, payment technology on the cutting edge, about to roll out new technology to whole foods stores, potentially license it out, whether just walk out or palm technology that doesn't make you think twice? >> no. paypal is still doing well, square, stripe is doing well, affirm doing quite well and these are the companies that i'm invested in. >> okay. then keith, is there anything about any of the big tech companies that you think that they could go into some of them are trying to get deeper into the health care space. i mentioned payments do you think new businesses will be difficult for them to make strides given sort of the antitrust issue as well. >> one of the reasons i'm not worried about large tech companies, they don't hire the right people that can create new

the ballots are being counted at the historic amazon union vote amazon has a commanding lead, the final tally due soon deidre bosa joins us this morning with more on all of it deidre >> reporter: andrew, indeed. half the more than 3200 ballots have been counted and the tally continues later today at 9:30 a.m. eastern as you mentioned, so far votes against unionization have a 2-1 advantage over those in favor. that's based on an unofficial count of the live broadcast which we have been monitoring and will continue to do so on zoom if amazon can stay ahead, it will be a major step in defeating the most big challenge in labor hundreds of challenge votes could be in the balance. the outcome could be decided in a federal hearing. the losing side is also expected to appeal. meantime, the union has criticized behavior by amazon that they say has discouraged attempts by employees at the b bessemer warehouse they pressed the postal service for a mailbox outside the facility amazon says the mailbox was a simple, secure, completely optional way for employees to vote no more and no less. the latest

all eyes on amazon and twitter amazon is up 0.4% as we approach the close. those numbers due any minute after the bell s&p 500 up two-thirds of 1%, the dow up a little more than that, z 0.7%. it's a little off its session highs which were hit about half an hour ago. it was up 260, 270 at its highs. the nasdaq up 0.2% and the russell down 0.4%. we do have bitcoin below 53k and the 10-year yield pushing up to 1.64 at the close. at the close, sara, we are up two-thirds of 1% on the s&p, zmt 7% on the dow and 0.2% on the nasdaq >>> record closing high there for the s&p 500. another strong day on wall street welcome back, everyone, to "closing bell. i'm sara eisen along with wilfred frost and mike santoli take a look at how we finished up the day on wall street. the dow gaining 242 points, near the highs of the session had a nice final hour of trade there. for the week we're pretty much flat week to date. keep in mind we're going in one last trading day of the month of april. we are set for the strongest month for stocks since back in november s&p 500 closes up a

other issues for amazon. never a rue unionization and now has one. that could change the cost structure of the business. i don't think it changes investment pieces but could ding margins 100 bits or something like that over time. a potential one. some of the other issues on the name and whether forced to spin off the first-person retail from third-party retail end of day, ask, is this a monopoly on online retail. sorry. amazon accounts for 30%to 40% of total online retail sales therefore accounts for mid-single percent of total retail sales hard to make the argument monopolistic market share. >> when it comes to those labor issues you mentioned, you said you don't think it's going to affect margins in the short term what about the long term how closely are you watching this union vote? talk about it in the sense it could threaten that incredible efficiency that amazon is known for. how do you judge the handling of the recent few weeks, these labor issues, by amazon? feels like they're antagonizing lawmakers, their own warehouse workers and delivery d

amazon is more permanent amazon reacted they were aggressive with investments last year. added 400,000 new employees. they spent a lot of time building new distribution centers and tapped into areas of spend they didn't really have a great presence before like groceries. that is what has allowed them to enjoy the permanent pull forward of demand. >> in terms of the retail business versus the aws business how do you see that playing itself out >> the advantage that amazon has is they are in the retail category which is modestly penetrated on at 15% to 20%. there is a lot of growth under way for them the interesting thing is what they have done the build out of one-day delivery they announced this two years ago before covid covid allowed them to accelerate that ability they are getting quicker and faster and closer to go from order to one day and then to same day that locks in consumers. it is enticing >> what do you make of the shift? it sounds like they shift prime day which is a huge sales day for them >> yeah. it usually adds 3% or 4% to the growth that helped with the

at amazon headquarter in seattle, washington 11:00 a.m. on wall street and "squawk alley" is live ♪ ♪ if it's all right ♪ ♪ talk to you all night ♪ ♪ all night ♪ ♪ have a good time ♪ ♪ don't worry it's all right ♪ ♪ all right ♪ ♪ all night all night all night baby ♪ ♪ don't be shy baby ♪ ♪ don't worry it's all right ♪ >>> good wednesday morning welcome to "squawk alley". ahead this hour amazon's jeff bezos voicing support to raise the corporate tax rate and how jimmy dimon views that threat but we'll start with apple. laying out the details behind its new tracking apartment out, julie boorstin has the latest. we've been talking about this forever. what are the details >> reporter: apple preparing for its new operating system launch in just a few weeks is now explaining the new privacy measures, the ability to opt-out of ad tracking that the new ios will offer users this is a feature that facebook has been attacking for months. mark zucczuckerberg it will hur. here's what the prompts are going to look l

the highest target right now on amazon on the street is not 4,600 as i said. it is 5,500. 5,500 at susquehanna, steve weiss. $2,000 higher than where the stock is trading now are we getting out of our minds? i men $5,500 for these stocks? >> well, clearly that analyst is looking for attention, and that's one of the old wall street tricks, is that you have the highest or the lowest price target out there so you get the phone calls that say, hey, why are you so much above everybody else look, to me analyst price targets are directional. i think it is lunacy to have that i hope they get there because i own it, but i'm not banking on it. >> but we're not -- >> i would like a nice march upwards. >> sure. but what we're essentially saying is we're trying to get where the direction of the narrative is, if you will, right? >> right. >> you take them collectively and you say, i have 22 new price target bumps from amazon today, so collectively that says something about where the narrative is, and i venture to guess if i looked at what the most recent target bumps were f

amazon won >> is this -- it was an intimidation or is amazon that great of an employer >> i think you could argue it both ways. what's interesting is the union coming out and saying that amazon gas lit its employees you have to wonder how much intimidation factored into it and if employees were scared to vote and say they did want to unionize as this gets contested and we find out what more went on with that campaign, i think we'll continue to hear from workers about how they felt about it you have to wonder how much that really factored into them maybe being intimidated to sigh they wanted to unionize i agree with steve the way the campaign was going over the last few weeks this is a surprising outcome >> tim, i have to say, i don't understand this whole thing. only 55% of the employees even participated voting one way or the other. >> i think the vote here is something that we're going to debate for a long time i think the sentiment against amazon, let me talk the stock quickly. you done nothing in the stock as the commerce trends continue to get better the invest they made means as

. >> tom, let me ask you specifically about amazon. of course, we are all awaiting results from that union vote in alabama. there's an interesting article this morning suggesting that a successful unionization could, even though a small very tiny percentage of amazon's workforce tshs could shift the balance from capital to labor and eventually lead to wage inflation. however, the numerous amazon notes i looked through, i rarely see this labor battle mentioned. do you think investors are complacent on this front, or do you think that we're over-hyping it perhaps it won't, even if a win at the unionization fight happens, it won't affect the long-term story? >> well, all ight. i definitely think unionization is an existential threat nfor amazon and we knew it coming into 2021 with president biden who wanted to be the most pro-union president ever a small labor force in germany is already unionized look at company in general and their ability to generate incremental profits from third-party selling instead of first-party selling, advertisi

kelly, keep it on amazon and twitter. i think they are part of the stock draft, are they not. >> i think they are. >>> fed chair powell continues to signal rates will be low for a very long time at his news conference yesterday he said it is too early to support policies rolling back monetary support >> we said we would tell you when we would do it well in advance. and we will do so. in the meantime we will be monitoring our metrics >> mike, it is great to see you again. this is a tough call you don't want to fight the fed. what makes you so confident that they are going to be forced to start tapering pretty soon here? >> thank for having me on again, kelly. i think it is going to be just how powerful this labor market rebound is as we move into the spring and summer months and into the fall. we already saw a very strong jobs report for february i think we are going to get another one as we move into next week n. terms of, you know, moving into the summer i think we are going to be putting up well over a million jobs each

amazon employees at the warehouse voted not to unionize. that means amazon avoided the possibility of its first workers union in america the national labor relations board needs to certify the results. the president of the union plans to challenge the results and file charges against amazon. here is the statement. amazon interfered with the rights of its employees to vote in a free and fair election. amazon rejects the allegations adding in the statement that the employees made the choice to vote against joining the union what's the beef here >> there's a lot beef. it's heating up. the union organizers will appeal the election if they are successful, it could lead the labor board to tossou the results and set off the process all over again the organizers can pursue legal challenges in courts that could drag on for weeks, months. the battle continues to draw national attention this afternoon, senator sannders saying he is disappointed but not surprised. he said workers should not be intimidate order badgered by a company and suggested illega

so number one is amazon. explain to me how amazon is a ben fish when people are cooped up and also when people are able to go out. if they got even an incremental sale because people had to buy online don't they lose some of that sale when people are free to go out? >> i think on amazon it's a situation where the market in our view is overestimating the extent to which u.s. consumer expenditure on amazon is going to decelerate as the world reopens. the way we think about this is amazon in many ways is the in business of behavior modification prime is really behavior modification 101 you added a record number of prime subs last year we think. to the extent you admore and more prime subs to the base, they earn across more categories, they shop across fewer incremental websites and we think share wallet actually grows. will people spend less in some categories as the world reopens and they start traveling yes. but don't underestimate the stickiness of the prime ecosystem, what that means for amazon's forward top

apple just one impressive quarter in what's a series of long results for big tech this week amazon ahead tonight bar is high, i guess, but quell coming up in a few minutes as well qualcomm charl talking for weeks and months about a chip shortage qualcomm, apple, so many others, interesting who's managed to work around that or be so premium, high-end in offerings they're at the front of the line in terms who gets the chips and who gets the profits in the earnings season just reported? >> yep also helps when your ceo, in the case of apple, d, literally made his career around supply chain logistics and comes in handy and paid off in a quarter they really didn't have a material shortage the way a lot of their peers have. >> yeah. good point, carl very, very well taken. jon, what do you even call this? an "everything supercycle" the street as usual looking for iphones and services growth instead what we got mac and ipad stealing the show. a lot have to do with that m-1 chip you've talked about seems to be a game chinger >> it's only started, carl, to, i think, make its presence known in apple

amazon you buy stuff. they deliver it to you they have a cloud business and phone business that's not so much amazon numbers are out tonight expectations were high, joel given what we have seen from apple and facebook and google, does amazon need to destroy estimates for the stock to move? >> i don't think destroy it is funny. you look at large cap growth other than alphabet, these stocks were stuck in a range. it is bumping up against the top end today into the print what i look for is aws clearly azure is putting up good numbers for microsoft. aws put up 28% growth last quarter. consensus is 22.5% buy side is ahead of that. if we could see high 20s to 30% aws growth, that could be the catalyst to get the stock higher with covid restrictions -- sorry, covid fades and vaccinations rise and we return to normalcy, the larger profile for amazon is with investors do don't. t tonight. that could punch above the $3,500 number tonight. >> joel kolina, thank you. i know you have a busy one. >> thank you >>> you're

amazon is after the bell tonight. apple not reacting well. at least the stock hasn't been thus far if we can get it maybe not. there it is. that does it for us. "the exchange" is now. >> thank you, scott, hi, everybody. i'mcaly evans in here's what's ahead this hour. the consensus is no fed taper this will. but the man who called the v shaped recovery tells you they will taper by year ends and what that means for the markets it is draft day. a preview of some of the best names to own between now and the super bowl we start with today's record highs. dom chu is

what happens with amazon can they be a permanent pull forward or will they face a reset? >> i thaought his face was still i think it's frozen. robert, i'll give you that question and we'll move along. >> look, the 175 million subscribers is amazing there's a lot more competition if you look at the number of markets that amazon went into just in the quarter, it was global payments. it was global procurement. it was the nfl it was teaming up with the yankees. just the businesses that they launched in the quarter, alone, would each be yun kunicorns andt ipos on their own. streaming faces competition. the markets they are going into and will just dominate because they enter them is just staggering every single quarter. >> all right tim, since you're back let me ask you, would you rather talk amazon or apple, my friend >> okay. let's talk apple european regulators say apple abused its position as gate keeper of its app store claiming it has a monopoly. they opened an investigation into a app store last year aing denies the ability to offer consumers other ways to sign up. appl

a glance into amazon's plans for primetime. spending $11 billion that race is getting massive. >>> next, breaking down ibm's quarter. you can listen to us on the go download, subscribe and enjoy the "techcheck" podcast available wherever you get your podcasts we are back in just two minutes. everyone wakes up every morning to a world that must keep turning. the world can't stop, so neither can we. because the things we make, help make the world go round. they make it cleaner, healthier, and more connected. it's what we build that keeps things moving forward. so with every turn, we'll keep building a world that works. >>> a good idea after record quarter company beating on top and bottom lines reporting highest quarterly sales growth in more than two years boosted by bets on cloud computing, hybrids specifically ceo now almost exactly a year and now going to see more focus on the spinoff of an infrastructure into a services company. calling it kindrell. software growth, system z kicked in a good amount of the quarter. good signa

the technology debuted in september at about a dozen amazon stores. it allows shoppers to pay for items placing their palm over a scanning device. the first time a shopper uses the kiosk they have to insert a credit card with a link -- and link it to their palm print. amazon hopes to sell the palm scanning technology to other companies, including retailers, stadiums and office buildings. carl, don't count out amazon as a major player in payments either is my takeaway here >> yeah. i think, you know, it's sort of reminds me, jon, people have wondered whether or not the level of synergy between amazon and whole foods has lived up to the hype on that day when that deal was first announced. >> yeah. i just wonder if they're going to sell me gloves once they have my palm. i'm not sure i'm going to give it to them, carl. >> yeah. >> sand down your fingerprints the spac slump is not just impacting stock prices the raw is not jus impacting the numbers. the raw number is massively lower compared to march. we have gone even to above 100 to 10 month to date, lea

it's pretty clear amazon isn't the worst place to work. if you need to have a warehouse entry level jobs, there's worse places to work than amazon good on them they are moving the needled and let's hope they drag along a certain amount of that part of the economy with them. but is it enough i'm still not convinced. >> we'll find out. very provocative notions about aws and we'll see how the labor structure evolves over time.

and it's ability to full some of the profitability levers, i love amazon here. look, the comment on the big tech recovery it's that mark twain quote about the reports of death being greatly exaggerated. we have had four of these rotation cycles since mid-may almost a year ago, eleven months ago, that great rotation was beginning that was going to leave tech behind, come on since march 8th, you pointed out the last month you have semis up 18%. triple q's up 11 outperforming the s&p by 4.5%. the last eight days it's been even more pronounced with actually a 8% move in tech, triple q's, whatever you're following. so i just think this is a constant series of rotations i think, if you're over thinking it you are focused on fundamentals, on bottom-up valuations how long have we been talking about the valuation in google being ridiculously cheap relative to the group and size where you can put capacity work, big funds, passive money can flow so i think that's what's going on here, the fed with reaffirmation, but some sense the market is saying we want higher yields on

it's just the late zest speed bump for the video game division it's not like amazon lacks money. they're making a "lord of the rings" tv show the latest price tag, $465 million just for the first season for context, that's $100 million more than a marvel "avengers" movie, and those are not cheap. >>> the awho is the next ideal for gamestop one answer we've seen all over the feed roaring kitty. the youtuber bringses his total stake to $30 million, so if someone would know about the company, it might be him cat writing in her choice, the former t mobile ceo. >>> guys, let's get to the half. >>> all right. carl, thanks so much front and center this hour, it is the biggest debate in the market right now -- whether it is time to be cautious or bullish? and why one of wall street's most prominent fund managers is making a new call on stocks. and well will debate his view, joining me for the hour today is req we site, james lebenthal, jo

into the motive of two mass shootings less than 24 hours apart the hard-fought battle to unionize an amazon facility is over >>> an important moment for working people >> tonight, the vote count and what it means for american labor. >>> battling covid, the virus and the misinformation social media flooded with lies about the vaccine's impact on fertility. >>> plus, prince philip dead at 99 volcano eruption prompts island evacuation and the mars helicopter poised to make history. >> announcer: live from cnbc, the facts, the truth, "the news with shepard smith." >>> good evening he performed the autopsy of george floyd and ruled his death a homicide today, the medical examiner took the stand in derek chauvin's murder trial he testified that chauvin's knee on george floyd's neck and officers pinning him to the asphalt was the direct cause of death, even if fentanyl and severe heart disease played an underlying role. >> the law officer's subdual and heart conditions were more than he could take. the other things played a role in the death, but didn't directly cause the death >> his use of fenta

the funny thing, amazon is running a software company, massive cloud services company amazon services right next to a large consumer retailer. they actually have to think about integrating those cultures in a thoughtful way and the transition to jassy is part of recognition, cloud services and software company that amazon is building will take the foreground frankly, also it's imprissant acknowledgement of the fact labor is so, so important to the future of this company. kany great to see you thank you, kanyi maqubela. >>> asking you to participate on the heels of coinbase's public debut, interested. what would it take for you to invest part of your retirement savings in bitcoin or, you know, maybe eherethereal >> tell us if you have already. >>> and where in the world is jack ma? breaking down the latest on china's now rue collusive billionaire. >>> and next, mclovin' nope app lovin' the ceo of that company joins us next we are just getting started here on "techcheck." >>> time for a gut check on virgin galactic. shares lower after news richard branson, sir richard branson, sold abou

amazon helping that surge. industrials also having a very good day and the nasdaq with a 3% up week gaining half a percent today, thanks in part to the strength in technology which was back this week. apple one of the biggest winners in the qqq the russell 2000 index of small caps lagging, closing flattish and has been an underperformer so far chipotle a big winner on wall street as restaurant stocks rally amid the economic reopening. coming up, the company's cfo on the outlook for the restaurant industry as well as its brand new plan to offer employees free college degrees. >>> first off let's talk about this market, jason snipe is still with us. barry bannister from stifel joins the conversation mike, stocks had a pretty strong week >> i don't think it was a reaction very much in theway o headlines. i think it was basically an atmospheric move it's piling on to the upside cliche has become a cliche for a reason because they often are true never short a dull market, don't fight the fed, don't fight the tape al

honestly, i went down the list of the amazon employee benefits today. and i can tell you as a professor at colombia journalism school, there are a lot of university professors who would kill for those benefits. so it's a pretty good package they're getting there. >> yeah. well, they manage to add half a million employees last year, jim. an astounding number 1.3 million total employees, i believe, at amazon roughly now i want to move onto taxes. one of your favorite subjects and one i always like to ask you about. it's david, i'm sure you picked that up too. >> yes, i know >> jim, let's start with the corporate tax rate increase proposed by the biden administration to help pay for some of the infrastructure plan. what are your thoughts >> well, i have to say i am disappointed that there is no more -- there isn't more reform in this package, both of the individual tack code which for some reason seems to have been pushed on to the back burner and in the corporate tax area. i think i get why they're going there. i mean, corporate taxes are much less contro

what amazon's ceo jeff bezos is telling the white house about its proposed tax hike. >>> two weeks early, the uk begins to roll out its third covid vaccine for the first time today. and a chip surge, private bidding war sending one chinese maker surging in the trade and getting out ahead. what sources close to cnbc said morgan stanley did in the leadup to that archegos capital trading scandal. it's wednesday, april 7th, 2021. and you're watching "worldwide exchange" right here on cnbc ♪ >>> good morning to you. i'm dominic chu in for brian sullivan this morning. here's how stock futures are looking on this wednesday morning. you can see here, we're indicated just slightly here about 32 points higher for the dow jones implied. s&p up higher, 3 points and the nasdaq, 14 stable moves overnight stocks upping off a mostly lower session just yesterday the russell 2000 small cap, snapping a four-day winning streak, the s&p 500 snapping a three-day streak >>> in asia, hong kong finally open for trade after an extended holiday weekend in most asian markets, especially china, hang seng down 1% s

i think amazon is going to be huge i think amazon is going to be one of those absolute crush numbers like apple and google. i don't think the pandemics are going to change people's habits. they're going to see growth in aws. hiring more workers to keep up with demand. i think that stock absolutely crushes it so remain absolutely bullish there. twitter too, i think they lost users last quarter i think they'll pick up on some of that after the privacy efforts and hopefully monetize on some advertising there. i like both of those names going into earnings. >> thanks for the quick analysis, sylvia, sarat sethi. thank you both andrew. >>> coming up when we return, mow dern ma saying its vaccine can be stored at rriraefgeted temperatures for longer. the ceo will join us next on cnbc ♪ i wish that i knew what i know now ♪ ♪ when i was younger ♪ you need a financial plan that fits the way you want to live in retirement. a plan that can help grow and protect your money. now or in the future. with an annuity in your plan to help cover essential expenses, you can live the retirement you

apple, alphabet, amazon, microsoft, facebook, and many more kari, i come to you first because you are all over this. you own microsoft, you own apple, you own amazon, you own facebook fr frankly, maybe the question we started the show with and talked about almost every day this week, this debateover bullish or cautious is answered with these reports coming next week because based on how they do is likely going to dictate how the market trades given the size of these stocks. >> yeah, right they are enormous market caps and so it matters tremendously to the market as a whole and to each of them individually. each of them has their own specific issues to deal with you talk about apple and their operating system, facebook and privacy, but, remember, they underperformed from september until march. now we are starting to see in the case of google and facebook a recognition that these are the biggest advertising names in the world now. they get tremendous benefit from consumer spending from reopening, from the economy being so strong. that is going to play very well for them if they talk abo

what amazon is doing to tilt the scales in its favor. that's coming up next. >> announcer: today's big number 458% that's the jump in robinhood users that traded cryptocurrency during the first quarter compared to q 4. 9.5 million people traded cryptocurrency on robinhood at the end of march ♪ ♪ we know it's going to take many forms of energy to meet the world's needs while creating a cleaner future for all. at chevron, we're lowering the carbon emissions intensity of our operations, investing in lower-carbon technologies, and exploring renewable fuels of the future. we work hard to care for the homes we love. but it's only human... to protect the one we share. ♪♪ (car horn) ♪♪ (splash) ♪♪ turn today's dreams into tomorrow's trips... with millions of flexible booking options. all in one place. expedia. does your vitamin c last twenty-four hours? only nature's bounty does. new immune twenty-four hour plus has longer lasting vitamin c. plus, herbal and other immune superstars. only from nature's bounty. i really hope that t

i had to buy new macs, ipads, iphones as well as you're buying everything online through amazon amazon and apple ready led that group. if if you look at this year, however, the group instead of being up 55% last year is actually lagging the s&p 500 by 1% or 2% apple and amazon are down slightly for the year. the laggers from last year, facebook and google that rely on advertising and advertising not advertising if people can't travel anywhere or get on airplanes, et cetera, that dropped a lot. those two are the laggers last year as you right ploly pointed out, they're lagging this year. so i think that's where you want to be in tech in general is in the reopening plays. last year, you wanted to be in the pandemic beneficiaries >> you written recently that tech stocks are overvalued like they've never been overvalued before what metric are you basing that on >> sure. what you're referring to as we put out something on dan niles.com that has a lot of charts around what we're talking about. but if you look at one of my favorite measures which is you take the market capitalization of the e

i feel like every two weeks amazon a opening a hair salon. this is a legitimate innovation we'll be using and have to pay attention to >> it goes pack to the bezos philosophy, it's always day one. always be innovating some hit the mark. some don't the hair salon, i have my doubts on amazon is major player in payments i think that could be something. we know they have been making moves in the space in terms of payment with their walk out technology will they license it it out. in today's press release amazon said that they were looking at putting this in places like stadiums and could be another major money maker, revenue stream for amazon. never count them out even the hair salon. >> i think that this is slightly less scary to me than what we all do on the iphones is face scan and kind of a little more open to the hand scanned i get it fingerprints are important but not a face scan or an eye scan and i think if it speeds it up and well protected by a company unlikely to get hacked with the necessary protections i'm kind of okay with it. not e

still nighttime in seattle here is the top five at 5:00 amazon firing on all cylinders and then some. cloud and lineup streaming. surging. why is your guest throwing cold water on the report? >>> tech on a hot streak nasdaq on pace to do something it has not done in a couple of years. more tech's remarkable run ahead. >>> bidding wars all cash deals and race to build more the red-hot housing market getting even hotter. we will speak with

we see apple and amazon doing more of this apple making its own m-1 chips for macs and ipad. pros, amazon, making more of its own chips for the cloud that can drive both profit growth and efficiency that allows you to get more market share. then m&a, you alluded that to microsoft, they bought nuance, we had satya nadella on cnbc on the day "techcheck" launched talk about that. not everybody can do m&a because they're so big and eyes are on them, but which of those top-line vertical integration or m&a do you think is going to be most effective going forward >> i think m&a in a normal time or at least in a pre-current doj and antitrust environment time, would be the most important thing and i think that's why microsoft is taking advantage of the fact that they're still considered a friendly company. i think maybe it's because their products are more enterprise and the average consumer doesn't feel that kind of ire we do towards facebook or alphabet or youtube, they're taking advantage of it. they bought the company that owns a video game franchise on the gaming side, nuance, th

other than amazon is growing into better operating margins. look, google's numbers tell you this company is beginning to rerate a bit more. facebook has been very cheap, maybe cheap for a reason the strength in the ad growth and again their pricing they were able to passion pass were able to pass on 30% price increase and all of this was a bad week for netflix considering the amazon video prime numbers and what google told you and strength of youtube that's maybe for another show those are the two most defendable, the two with the big week, those two yes reversed off the highs but still the stock is higher and those are the ones you stay with. >> nadine, i'm curious if you think today's action was sort of a tell in that, were you surprised tech stocks didn't do better especially with decent earnings like amazon given the ten-year yield ten-year yield went down to 1.62 thought we'd have a bit of a bid there. >> in terms of rates last two shows i've been on we've been shorting tlt, shorting treasuries, we saw xls and financials and xle, energy,

you've been an amazon holder forever. what do you think happens as the rally goes on if short selling is becoming unprofitable or maybe they have been betting on the wrong sectors. >> short selling is always a tough thing because the market goes up about 70% of the time. 70% of the year, 70% of months and if you're short and it goes against you then it becomes a bigger problem and if you're long and you're wrong, it's smaller part of your portfolio it's mathematically difficult. >> wa names are you interested in now are you looking sort of through the lens of the post-pandemic period, are there any emerging technologies or growth companies that you city are attractive we have been in a lull for the last few months. >> there market is physical therapily valued now those names have corrected they are still expensive on a short term basis but we're not in them for the short term i think in the spac area which i think the game is largely winding down now and many of the spacs that came public came extraordinary expensive valu

look today we are talking about amazon and apple. yes, amazon is down from its september high, apple is down from its january high. but guess what facebook, microsoft, alphabet, they're all making all-time highs today in the midst of it so i like that balanced approach, and as flat as the new up over the next couple of months, i'm fine with that. >> let's talk about some moves you are making i mentioned jim with qualcomm and apple and adding to those positions. steve weiss, you bought theal timtheal -- the altimetre growth and viacom cbs steve, why don't you have farmer jim run your portfolio he tells you to get into gm, you get into gm. you tells you to get into vike au c viacom viacom cbs and you get into it >> well, look -- i like adding some humility to my portfolio which is why i include some of jim's names. viacom, i waited until jim bought it. of course, i'm buying it lower than he bought it. look, to me it is a trade and it is a grade trade over a billion shares traded since we had the unwinding of a family office. there's on

you also own amazon and we can get josh in to back you up. >> sure. there are opportunities still in retail if you look at tjx, it hasn't fully participated with the market they've been suffering from store closures in europe, but i think it is temporary. as we start to see reopen happening more meaningfully, it is a place where i think people who love to shop will gravitate to they should have exceptional inventory quality this time around given there's been so many disruptions so that's the type of name that we think will continue to work and continues to represent an opportunity. we also think that amazon represents an opportunity here it also has not participated this year in the market rally. we continue to think that they are going to gain market share across the board they're really not specific in one particular area of the retail market, but just will rise as they continue to gain market share to online so that's another area that we think is interesting. >> all right that moves right into josh who wanted to talk about this. josh. >> yeah, i

dish network is also higher after reaching a deal with amazon will use amazon's aws cloud services but amazon is not making an investment in dish dish still up 12%. amazon up fractionally. >> >>>ocugen is soaring after a vaccine in india their shares are up about 10%. >>> with most of the world stuck inside last year because of the pandemic, grocery sales surged you may well know that the global grocery sector grew a record 10% but we sort of knew that was happening why what's interesting is what we have been buying it's growth in home cooking. powered by sales of canned meat. oh, you -- oh! now that's cooking. >> desperate at home but not -- other than tuna. >> is canned meat cooking? meat okay sugar. i got that get that baking banana breads. >> coffee. >> herbs or herbs as you prefer and alcohol sales surging in western europe there sales increased by 25% there was a lot of baking going on last spring. >> the herbs and seasonings one makes me laugh i bought more spice canisters. usually like once a year i feel like every two months i'm getting paprika. i didn't know what it was five

. >>> and the big rumor that sent amazon shares rallies today. we'll take a trip to the options pits to find out what's with really going on. >>> shares on the move after the beat on the top and the bottom lines. phil lebeau's got all the details. >> this was a substantial beat on the bottom line with tesla earnings $0.93 a share versus the estimate on the street of earning $0.79 a share. top line coming in better than expected at 10.39 billion versus the estimate of 10.29 billion. let's look at the numbers behind the numbers. in other words, as you look at the first quarter, what are some of the key metrics people will be focused on. automotive gross marge getting a lot of attention coming in at 26.5%, nearly 100 basis points better than expected free cash flow, 293 million, capex and this has to do with the gigafactorys being built in germany and texas coming in at $1.35 billion. the number that everybody wanted but they didn't get, at least in the earnings report, maybe that will change during the conference calm, del, deliveries year, no new

succeeds, the more people will be desperate for an alternative to amazon. i think no one is better positioned than etsy to be that alternative. >> are you watching this alabama union vote for amazon, josh, and wondering if it could have implications for the rest of e-commerce players like yourself would you be vulnerable to that sort of thing happening with sellers? >> you know, i think the whole world is watching that vote for a wide range of reasons. our sellers are each extremely independent actors so i don't think it has any correlation to the relationship with our sellers. our sellers wake up every day with a broad range of choices for where they can sell online they're deciding what they want to make, how they want to price it, how they want to present it. so i really don't think that there's an application relative to our sellers. >> what about the infrastructure plan and higher corporate taxes. jeff bezos just made kind of an unusual statement, coming out saying that he is supportive of both are you? >> you know, i am certainly supportive of investi

illegally interfered, it can order a new vote that would have been the first of any amazon factory in the united states, but about 70% of workers voted no >>> millions are ready to hit the road fully vaccinated, but they may be in for a shock at the pump prices are rising. some stations may not even have enough gas to go around. here is nbc's tom costello. >> reporter: as american families pile into their cars and head out onto the highway this summer, finding a place to fill up might be tougher than usual. >> there's enough gasoline it's just a question of getting it to the station as quickly as consumers are filling up. >> reporter: all because there's not enough certified tanker drivers to deliver what may be needed they were facing a shortage before the pandemic, according to the carriers organization last last year with fuel prices dropping, many drivers we are laid off. >> enter 2021, things have rebounded. demand for gasoline is up. >> reporter: fuel tankers require more certifications and training, but many driving schools were shut down, so hiring new drivers may take some ti

coming up, jon has unusual activity, plus we will get you ready for amazon's earnings. they are tomorrow. a reminder, you can always watch or listen to us live on the go on the cnbc app. we are back on "the half" after this break tailor made or one size fits all? made to order or ready to go? with a hybrid, you don't have to choose. that's why insurers are going hybrid with ibm. with watson on a hybrid cloud they can use ai to help predict client needs and get the data they need to quickly design coverage for each one. businesses that want personalization and speed are going with a smarter hybrid cloud using the technology and expertise of ibm. nice bumping into you. did you know that petco, is now a health and wellness company? i adore their groomers and their vets our physical, social, and mental health cared for in one place. ♪ petco. the health and wellness company. i love two things, eating high quality cat food from petco, and the box it's delivered in. same day. petco. the health and wellness company. >>> dr. jay, unusual what do you have for us? >> pitney bowe

>> look, the big thing for amazon is -- amazon is everything what we saw you over the pandemic is amazon takes over the entire retail industry they are into just about everything not an issue out there that amazon is not going to have a view on by and large a lot around tax that is the big ones we look at facebook and alphabet and microsoft. what you are talking about is regulation around the question of liability on the internet are the internet service companies, social media companies, in particular, responsible for the content they put up through us users who are putting stuff on their sites is that a liability for the companies? the law says no and had said no for 20 years there is a move to change that we will see if they can push that back. there is conservatives and liberals gravitating to that idea and the social media companies don't like it. >> that law was written when we were dialing up to our aol account and dialing up $20 million a year. >> i remember. >> let's not forget, lobbyists are the ones that write the bills that congress then -- congress members are not writing th