exclusively, except that meta is up 14.5% apple down just over 1%. >> yeah, i mean, we had big beats across the board on top and bottom lines for all three names, but when you look under the hood, in the case of meta, which just initiated a dived dend, you can see the spike higher that's going to do it for us here at "overtime. >> "fast money" starts now live from the nasdaq market site in the heart of new york city's times square this is "fast money. here's what's on tap tonight meta's monster breakout. the stock rocketing higher as the company announces a huge buy-back and its first ever dividend. plus, apple's china challenge. the tech giant's revenue growing for the first time in a year, but a slowdown in china raising eyebrows. and later, pell on the hits the skids and touches its lowest close since going public gold shines as the mining stocks catch a bid, and an activist gets crafty on etsy. i'm melissa lee.

we start off with a huge slate of big tech earnings more than $5 trillion in market cap reporting in just the last hour kate rooney is standing by on amazon, steve kovach is digging into apple, but we start off with julia boorstin, who is diving deeper into meta's quarter. julia? >> yeah, meta's shares are soaring after the company beat expectations across the board, and reported its first ever dividend we see shares up 14.5% going to be paying a dividend of 50 cents a quarter, in addition to increasing its share buy-back now, the company is accelerating revenue growth to 25% and it has continued user growth. even adding 2 million users in the saturated u.s. and canada market, guiding to first quarter revenue in a range ahead of expectations also saying that reels is now contributing to net revenue across meta's apps ceo mark zuckerberg saying on the call that this all shows the company's investment in a.i. paying off, saying they will continue to invest, both in a.i.

and the metaverse. now, one weak point here, perhaps the only one, was meta's reality labs division had larger than expected losses of $4.6 billion. this even as the division's revenue topped $1 billion for the first time but zuckerberg saying they will continue to invest heavily in both a.i. and the metaverse and the quest 3 is off to a strong start as are their rayban meta glasses. he predicts people will want new categories of devices to engage with a.i saying that smartglasses will be a compelling form factor for this combo of a.i. and the metaverse and how the two are connected. we got some interesting details from meta's cfo just moments ago, she said they will no longer report daily and monthly active users, but instead will begin reporting year over year changes in ad impressions and also the average price per ad at the regional level, while continuing to report family daily active people.

now, after last year's year of efficiency, the company doesn't have a new tag line for this year, but they did reiterate their expense guidance in the range of $94 billion to $99 billion. and haven't heard much of that dividend yet, but we're continuing to listen melissa? >> julia, thank you. a lot of people had a sigh of relief when they reiterated that cap-x guidance for 2024. what do you make of this dividend on the one hand, you know, theoretically like the dividend, but does that signal anything about how they think their prospects for growth are >> well, i first thought that, right? that now they're sort of a mature company, and into a different phase, a $2 dividend, if it's a 50 cent run rate a quarter is really insignificant to the stock i don't know why they would do it, except maybe that, are there any kind of indices that need to be a dividend -- need the company to be a dividend payer to be included in them, that might be one reason. i'm pretty surprised, though it's a little bit of noise to me, the buy-back, which had

$30 billion left, if i read it right, this was a $50 billion increase on top of that $30 billion, so, if someone saw that and that's wrong and it's just $50 billion, please let me know, but -- so, that was very big to me, but the numbers themselves were just almost every metric, like, a reacceleration that w was -- i mean, the strength of it is pretty surprising. >> this dividend dynamic to me, i think it's kind of their apple moment, and i think of the rerating that apple got, and i realize that was also about services, but the ability of apple to be a company that continues on the capital market side to give people reason to own it longer term, we're talking about a stock in meta that doesn't trade like a growth company, right yes and no and so, of all these megacap tech stocks, it's got the lowest multiple it's the company that, if they are giving a dynamic around buy-backs and dividends, i just think this is going to be -- i think it's part of that year of efficiency, it's part of that -- this doesn't scare this guy about the growth story that i think, i mean, looked a their

advertising revenue, up 24%. very, very solid the ability of this company to at least be now spending in areas they think are the right ones and i think they're going to get rewarded for that i think the dividend was as big as anything, and i think that's part of the reason for the response >> are we going to think, that was the quarter where we did rerate meta? because of all these things that these guys said, but also, a.i., and this is what brad told us in miami, that not only is a.i., you know, a good thing for its users, but it is obviously something they're using to their own benefit, in this case, in more effective ad targeting, which we've seen in these results. >> and this is the quarter where they probably got, you know, appreciated for that focus that they've had, and, you know, i heard brad on scott's show over the last year talking very specifically, everyone was focused on nvidia as the largest benef beneficiary, brad has been talking about monetization, and that's what you're talking about, karen, what they were able to demonstrate right here but then, if you have that rerating right now, like, kind of gifts into the stock a little

bit. i do think it's interesting they're changing the reporting we've been talking about monthly and daily active users since the company went public in 2012, and that's been a key metric right now, what they're talking about, they're going to -- it speaks to what brad's been talking about. why he has such a concentrated position, so bullish the other day when i think i was fading it, the bullishness. the idea of buying that stock after where it was in 2021, where it got to in 2022, where it got all the way back to now at a trillion dollars in market cap, the fact it is up $150 billion in market cap, based on that -- again, you know, like, don't see it, but i wouldn't be buying it here, but i get why folks can now start to think about this as a longer term trend, and if the metaverse ever does work, then you have multiple -- you have the barbell approach they do find an interception at some point and that speaks to the rayban glasses, to wherables, guy, and you have all of them >> i love the wherables. at my age, you need them, i'm just saying.

listen, people that own the stock have to make the decision tomorrow on this gap higher, what do you do do you let it ride understanding you could see a pull-back, or is this the time to pull the rip cord free cash flow, that's a tim seymour thing, up 28%. year over year growth, 24.5% and arpu -- it's up from 12.8. it's really good, obviously of reality labs, which everybody knew was a disaster. on a big volume day tomorrow, on a gap like this, what are people that own the stock going to do the financials might do nothing, but the other people might see it as a time to get out. >> let's ask people who own the stock. karen? >> i think i will probably -- if i own none, that's the question, would i buy some tomorrow? yes, i would have some if i own none >> i like that call. and i like to sell them farther

out, because you have some opportunity. everybody believes these things go a whole lot higher. i'll say that facebook is now 20% through that september '21 high they are slightly ahead of microsoft, which has pushed fresh highs in the last run. waiting for amazon to do it, we're waiting for a couple others, and remember, we had carter on late last week, the argument is, do you follow some of these megacap tech stocks that haven't made new highs, and i think the answer is yes and i think amazon, who we are about to talk about, is part of that reason >> let's get to amazon it is jumping following a beat on the top and bottom lines. the company passing alphabet in market cap afterhours. kate rooney has the latest on this quarter kate >> hey, melissa. it was a beat across the board the quarter was driven by strong holiday shopping and cloud strength guidance was in line amazon met expectations on its all-important cloud business, aws grew 13% year over year, which is exactly what the street was looking for. up from 12% last quarter growth reaccelerating there.

amazon notched its highest quarterly operating income ever. operating margins were 7.8%, that was up from less than 2% about a year ago, but it was pretty enough flat for north america, margins doubled, coming in at 4.2% margins were negative there a year ago, so, costs are improving there for amazon advertising revenue was strong, growing 26%, bringing in close to $15 billion north america and international revenue both came in stronger than expected for amazon cfo saying just now on the media call that we expect aws acceleration to continue into 2024 on a.i. he says, quote, we have seen significant interest from our customers wanting to run generative a.i. applications, build large language models and foundation models with privacy, reliability, and security. he wouldn't say exactly what it meant for revenue. and costs were a big discussion. he said, we continue to be careful about what we invest i and they're trying to do more with less, as he put it. amazon, should mention,

announced a shopping assistant called rufus this afternoon ahead of earnings. >> sounds like a dog, but you know, we'll try it, i guess. kate, thank you. so, it did exactly what it had to do. >> yeah. >> in terms of reacceleration of aws growth, and it is amazing to think the ad business is this big at this point. >> yeah. and we talk about operating margins, 7.8%, the street was low sixes, up from 1.8 a year ago. good for them. now, what does this set up for that, i think, the 2021 high, i think, in august of that year, july, was about 183ish i mean, a quarter like this, given what we're seeing, should get you about right there. >> so, just one sort of read-through on that, if you look at nvidia, they're up $10 in the the aftermarket, just on the a.i. buzz, and i think tomorrow we're just going to see a race for analysts, who can be the most bullish on -- >> on nvidia >> on amazon, on cloud, on meta, on everything. >> yeah. >> yeah, listen, as far as aws,

like -- reacceleration, 12.5% to 13%, they have obviously been losing some market share they are the market share leader >> advertising, you love that. >> i do love that. that's the one thing i really liked about this story and everything that you said about the greater monetization on the meta side, okay, and how they're using generative a.i. tools, right, to get that better monetization, that will apply to amazon on a business that is growing really fast, and has become an absolute behemoth. and ultimately, this will be a story for apple at some point. they don't have the tools yet in place, but you know, advertising is becoming a big business for them, i know we're going to talk about apple, but it's not going to be a story right now. so, amazon, again, 188, guy. if it's the only one of the mag seven that has not gotten back to its all-time highs, it's going there. so, i don't know, do you chase it here? have at it. >> have at it. which means no >> yeah, so, there's some elements in here that indicates some bit of a moderating upmargin and i think dan's

right -- i don't think we're doing cart wheels here maybe on a 13% growth in aws, but it tells you how far this stock has come in terms of understanding some of the value, and maybe some of the value that wasn't given to its core retail e commerce business and some of the other pieces of the puzzle, in terms of advertising, because 13% growth would have been a disaster for this company in terms of the stock price two years ago. so, it's nice to see the increase here, it's nice to see the dynamics i think it's going to hit the all-time highs this was just good enough on a day when, yeah, i think the rest of big cap tech is pulling the whole thing forward. >> it's nice to hear that amazon is conscientious when it comes to cost and spending that's always been the issue with amazon. a lot of analysts thought they would be in harvest mode, be we have it stated by the company that they are going to be mindful, they are going to try to do more with less, so, it will continue here >> no question listen, and i think that's why you can probably, with those margins and those comments you just made, which is why you can sort of justify a valuation, it sort of gets rich at these

levels that's been a concern before founded, other times unfounded probably one of the reasons it will be unfounded this time and move to those levels tim just talked about >> is it irritating, understandable, thattal fa belt has gotten so penalized on the bath of its earnings from what we're seeing tonight >> it's understandable their growth was not bad but their cloud business is significantly smaller than aws, right? so, it was $9 billion versus, you know, much higher for -- it is a little frustrating, because they, you know, when you hear about the strength of meta on a.i., right? you would think there should be more flow-through to alphabet. >> i guess i want to broaden out a little bit there was pessimism just into this earnings period out of my mouth, when you think about just the -- like, the level of excitement, where the stocks were trading, where they had basically come off their lows just in january, and you say, well, how do you get above the bar, just based on the price of the stock? so, i say to myself, the nasdaq 100 had new all-time high. the companies, you know, the

ones that were able to demonstrate the reason why they ran into their prints, but what do you do? i mean, like, we're one month into the year here, we had the exceptional year last year, we know these top five or six names have been dominating both of the major indices, and so, i guess the better the results are, the more people pie into it, the more acute that concentration becomes, and the more risk there is to a broader problem across the market, because i don't know about you guys, some of the herbs that we saw outside of megacap tech this week weren't particularly great and there was a regional banking issue, and -- >> maybe that's why the stocks should trade at a premium. people should pile in. we are seeing qsup 1% on the back of these amazing results. they delivered why shouldn't the market run to these names when the rest of the market looks sort of crappy? >> well, particularly meta, which was not in a super inflated, right? netflix, very expensive, but they delivered one thing, it's worth noting, the ten-year has gone from 4.20, maybe, i don't know, ten days ago, to 3 -- high 3.80s now.

that's a nice move for a high multiple stock >> i think that positioning on this for the hedge fund community is different than the retail community i think there are shorts here and i think this could lead to a little more squeezy time and i think there are a lot of people that are feeling this fo fomo it's great to get a 4.5% coupon to treasuries, but when you see the market running like this and people thought they were smarter than the market in the fourth quarter and missed a big one. we can't forget about apple. dropping after weakness in china. steve kovach has the very latest >> yeah, mel, so, the headline here is, apple shows growth for the first time in a year this, of course, four straight quarters in a row of declining sales. this time, revenues came in at $119.58 billion. that's about 2% revenue growth now, there's a shorter -- there's a weak less this quarter rather than a year ago, and some other funky things comparing, but i would note that those expectations for revenue came

way down from $123 billion back on -- in november of last year still, a beat there, also a beat on the bottom line iphone revenues looked pretty good there are other numbers to talk about. $69.7 billion, that was a beat services, a new record there, showing reaccelerating growth again, up 11% to $23.1 billion but look, china, that is what's really dragging things down here sales in the greater china segment down 13% year on year to $20.82 billion and then the earnings call is just getting started, mel, but i want to say, one a.i. headline already coming out from ceo tim cook, he just said on the call that they're spending a tremendous -- this is his words, tremendous amount of time and effort on artificial intelligence and plans to have some kind of announcement later this year. this is me talking now, if i had to guess, that would be the wwdc event in june, where they talk about software, so, teasing a

big a.i. announcement there. i also did get a chance to catch up with tim cook about these results, in particular, asked him, what happened in china? and why sales were down so significantly there versus a year ago, especially as that country was largely shut down in the december quarter due to covid. here's what he told me on china, largely blaming foreign exchange here, saying, quote, the dollar is very strong versus the rmb. and so that negative 13 goes to a mid-single digit number. so, that's how we did on the phone last quarter the good news is that we're four out of the top six top selling smartphones in urban china i will note, he's citing data there that shows huawei actually took share in that same report he's talking about there, so, still top -- losing market share to the android competitors over there, but still very strong in china, according to cook also saying there's a record level of iphone installs in china, which is obviously a big opportunity for services i also asked tim cook about the

apple watch ban, that o2 sensor that causes them to sell the watch without the o2 sensor. i asked him, would you pay a licensing fee? but cook's position, i'll tell you what he said, we're focused on appeal, and there's lots of reasons to buy the watch, even without the blood oxygen sensor. saying, we're going to go through the legal process here, don't want to get into some kind of licensing fee agreement quite yet, but does believe people still want to buy the watch without that o2 sensor, mel. >> steve, thank you. so, no a.i. pixie dust, even though tim cook himself teases some sort of big announcement to come later this year >> i -- i think these numbers were pretty solid. and they were solid in the places they needed to be obviously the reacceleration in iphone sales, macbooks were better, and the services business was kind of in line, but the gross margin at 45.9 is

better, and they talked about the profitability, and it is interesting to see where some of the profit margins are with different products we knew china was weak maybe, obviously, it's been a huge and important growth market and on a day like today, you don't hear about the growth in india and all the places they're looking to find that growth, but as someone that hasn't been terribly bullish about apple, these numbers were fine, and i actually think give you a reason to kind of breathe a sigh of relief >> i thought they were kind of eh, really of the group, right? i thought that -- i'm not buying the currency thing everybody knows each day where the currency is, so, to sort of -- >> we'd be talking about that for other reasons, like capital flight to china. >> yes, they can't be the only one. i didn't really love that. i think the services miss is a little bit of a problem when you think about the multiple, if you take out the hardware, dh is a much lower multiple, of course, it leaves that higher services multiple, should get that if it's a little slower than we thought. >> tim cook sounds like a met fan.

we're the top four out of six. i mean -- >> four out of six in urban china >> although tim cook's team has been to the world series more recently than the yankees. >> fair enough that's not something you want to plant a stake in the ground. revenue beat, so, i want to be careful here, but service revenues as a percentage now is below 20%. i think that top ticked close to 25%, so, the reason hay got the premium multiple was because of the service revenues as a percentage of overall. if that's going the wrong way now, that's something you have to watch in terms of, should you be paying for this stock the multiple you're paying right now? >> yeah, that being said, that 45.87 gross margin is the highest this company has ever had. and so, if tim cook, who does not -- they do not tell you what they're going to do, just said, we are -- you know, between the lines, there's going to be some generative a.i. thing, and it's going to be built around services, and we know that this vision pro at $3,500, this is not something that's going to be mass market, but it's a bit of

an entree, how they see spatial computing, and we know our friend gene munster, this is what excites him long-term about this story you start seeing a hardware ecosystem that is just run of the mill, the stuff that we use every day, and then there's going to be all this other stuff that we're clipping on us, that is going to be part of that services ecosystem that's going to be a much higher margin that's going to draw, right, this reacceleration of growth. so, to me, i think that -- i would love to see apple get killed on china concerns, on huawei concerns, this stuff, because you're going to have a great opportunity at some point in the not so distant future to play a generative a.i. move like you've seen in a half a dozen other stocks >> you sound bullish you sound bullish on apple again, i -- >> don't hit me like that. don't do me like that. >> constructive. >> a number that i doptd spend a lot of time looking at in apple, but the fact that devices outstanding is 2.2 billion, up from 2 billion a year ago, i mean, a growth of 10% in devices

for a hardware company that we're saying is just a hardware company is something, and it gets back to that whole point that we say, it's hardware as a service. and they grew total devices on a massive base 10% year over year with higher product margins and asp, so, again, i think that's pretty bullish. coming up, we will be monitoring all the afterhours action, bring you the latest from the company conference calls. "fast money" friend gene munster is listening in. he'll bring us all the headlines. but first, a trio of big stock moves today.% p p pell on the plunges, gold up, and etsy up, as well how to trade them all when "fast money" returns of 10 of our clients are likely to recommend us. our neighbors, the garcía's, love working with you. because the advice we give is personalized, -hey, john reese, jr. -how's your father doing? to help reach your goals with confidence. my sister's told me so much about you.

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welcome back to "fast money. we are diving into a couple of the biggest movers in today's session, starts with etsy. shares rising 9% after announcing elliott management's marc steinberg will join the company's board. the stock's best day since july. the activist investor has build a 13% stake in the company shares have been cut in half in the past year. karen, you liked this. >> i did like this though i own some from higher, so, i didn't love that, but i like this, and i bought some more today on the heels of this

announcement i love elliott, i love, you know, they've done similar kinds of things in eebay, ended up selling a fair bit higher. pinterest, we saw that i like that he's on the board. i think we're going to see 13-d. we would see very soon, maybe as early as today or tomorrow, i want to see where they bought the stock, i'm sort of curious about that, what kind of discussions they've had with the company, so, i like it, and i love the asset-light model they have >> right let's get to peloton the lowest ever close after the company gave a disappointing forecast for the current quarter. the connected bike maker says sales will come in lower than expectations, and that it will lose between $20 million and $30 million compared to estimates of just a $2 million loss wow. how far the stock has fallen, guy. >> yeah, we're going to have gene on. he tweeted earlier that apple should buy peloton and it's not nearly as horrific as the market cap suggests we'll talk about that.

but this has got -- you would think, just sort of on a buy th binary this is an interesting risk reward. fortunately for tim, it wasn't the p in his bicep, he went back and forth, but now is maybe not a bad time, if you can take your current p and supplant it -- >> i was the only one that played the acronym game by the rules -- >> that's not true >> you're not the only one >> one of the few. >> we started this conversation when gene was on a few weeks ago -- >> this was his hot prediction >> and i started it saying i obviously work out a lot and i really enjoy my peloton. but when i think about this, a $3 billion enterprise value for a company that's expected to do $3 billion in sales, they look like apple's margins, okay so, think about this, about apple buying them, or a google, for the data, or a connected -- i have my youtube tv now on my pell london. i think that's pretty dope, as the kids say, mel. but this is a very cheap asset that has a lot of consumers that

really love this product. coming up, stocks climbing ahead of tomorrow's jobs report. what could tomorrow's data do to markets? that's next. and as we head to break, look at the big tech stocks on the move on the back of earnings meta still holding onto a 14% gain amazon up 8% apple is pearing its losses, down by just a tenth of a percent, and the qs are on the move on the back of these results. we're looking at a more than 1% climb afterhours in the iqqq trust. "fast money" will be right back. ♪♪ ♪♪ ♪♪

welcome back to "fast money. a rebound on wall street with major indices closing at their highs of the day the nasdaq and s&p 500 snapping a two-day losing streak. both gains more than 1% today. the dow jumping 370 points, locking in a fresh record close. the blue chip index on track for its best week since before christmas. meantime, the ten-year treasury yield falling to its lowest level in almost two months the action coming a day before the jobs report. how could this affect the markets next move? and we said the markets look like they're going to open higher on the back of some of the big tech results what do you think on jobs? >> i don't know. u.p.s. laying people off, six months after they announced that contract that's going to arch a

worker at $107,000 over the next five years it's not manifesting in the numbers, which i guess is a good thing for the overall economy, but if it starts to tick up, at 3.8 in yields, probably pricing that in, maybe bad news on the job front is bad news in the market >> for a market that's doing this, i realize, you know, whatever whistling past your graveyard cliche you want to use, but bad news is bad news, and i -- there's been no sense to me in the data we've had and even if you think about the adp numbers and some of the kind of the job switching numbers and some of those indices that shows the job market is cooling, but it's not a disaster. and i know fourth quarter gdp is not quince dent. there's nothing leaving there. but i don't like what the bond market is doing here and given the treasury refunding dynamics, that's had something to do. there's been a bit of a relief in terms of looking at the bond market, but i don't think there's anything good. it's back to, you know, megacap tech stocks this is a great, great place to be, and an eh

economy. >> i think a little bit cool is not bad news it's just a little bit cool, right? and then we did see productivity gains, so -- maybe that's part of it, as well i don't know what -- i don't know if the market is going to care tomorrow about -- >> right >> unless it's wuildly outside the band >> the fed chair yesterday, i think it's one of those situations where, i think tim is correct, i know guy has been saying this, too, this drop in yields, like, in the face of what fed chair powell just said yesterday, was it the regional banking thing, was it this funding -- i don't know, but when we can't figure some of those sorts of things out, it does, like, there are potential for, you know, some sort of, like, accidents to happen, especially when you think about the equity market, how concentrated it is, and how uni universally people feel about a handful of stocks that are 30% of the s&p 500 weight and 50% of

the nasdaq 100 weight. >> we are heading back down to after hour session lows, apple is down 3% we'll keep you posted. we want to get to shares of new york community bank. many other regional banks falling in sympathy. the chart master made a call to sell the kre in mid-december he's with us carter >> yeah, messy certainly not the happy times that we're seeing in large cap tech the issue, of course, is this, this is news-related specific to one stock now, which has then taken down the aggregation kre, but let's look at the charts and try to figure it out together. so, when we were in mid-december, at that point, from the october low, the kre was up 45% the october low s&p to mid december, 15 so, having tripled the

performance of the general market, it was overdone. now, in turn, we've given some of that back my hunch is that if and as we dip to the 100-day moving average, we'll be at a buy juncture as to the sort of the culprit nycb, the first thing to point out, where did it plunge to? it went to its april lows. and that is such a testament to t technical. it's not a price to book that it stopped today there. it's not enterprise value b ebitda it's that key levels matter. look at the last chart, a long-term chart. i mean, this stock peaked, remarkably, in q-1 of '04. that's 20 years ago at $36 it's been not working ever since. what would make it work now? stay away. >> carter, thank you carter braxton worth of worth charting some people today, you know, they've examined things, the

company's conference call, et cetera they say that maybe this is idiosyncratic, but if that's the case, do you buy the regional bank index >> i don't know why you would. and i know yesterday brought up -- because it was a jeffries note that said these are idiosyncratic, but commercial real estate isn't. and it's a lagging indicator it's just starting to show some signs. it doesn't mean they're all going through this and there are different regions and this bank is also under the bright spotlight of regs, so -- bit of both >> $3 trillion commercial loan market, $1.3 trillion, he thinks could default. that's significant stuff. coming up, we're diving back into tonight's big tech earnings we'll bring in gene munster. he'll get us all the details on the conference calls "fast money" is back in two.

welcome back to "fast money. let's get another check on tonight's big tech earnings. "fast money" friend gene munster has been listening into the conference call. has a few takeaways so far just getting sol suggestion, gene, that sales will be weaker than expected for apple. we saw the stock take a leg lower here what did you hear? >> melissa, i heard, you got to

be really astute to how luca gives this guidance. but basically, it implies that the street was a couple percent too high for the march quarter and effectively what's gone on, there's this 13 to 14 weeks, i don't know if you remember the conversation, 13 weeks this year versus 14 last year, analysts expected that the growth rate should naturally accelerate in the march quarter, given our comparisons, 13 to 13 for this march quarter. and, in fact, they're saying expect similar types of growth rates, and so, when you kind of put all that together, that was the -- the output is that there's going to be some tweaks down in estimates. in terms of, like, the pace of the business, it probably slows a little bit at december, because back on november 11th, the business was growing at, like, a 7% clip on a week over week basis, luca said, so, i think analysts are kind of filling in that gap. luca also mentioned a negative impact of 2% from fx, and so, whenever you kind of stir all

this together and you talk about growth rates that are below the street, i think that is what caused shares to drop in the afterhours >> meta and amazon, gene, were they as good as the stock pops are showing? >> meta, absolutely. what really impressed me about meta was their dau growth. they're going to stop that number 6%, a quarter of the world's population it grew at 5% in the previous two quarters, it was growing at a couple percent per year before the pandemic this is testament to how addictive meta's products are, and they are not even beginning to use a benefit from a.i., increasing engagement even further. and so, investors see this guidance up 9% higher than the street was for december, and starting to fill in the blanks and saying, you probably got to not only update the march numbers by 9%, but probably the full year by that 10% range.

as far as amazon's concerned, aws, i was -- i'm really surprised how that stock is reacting, up 8%. mill s my sense is this is all about aws. it did accelerate to 13%, still well below google cloud at 26% the other two cloud platforms accelerated by much more, and we had a 50-basis point acceleration from aws, so, i think that that piece -- that piece -- that one surprised me a little bit i want to sneak one more piece in that i would be remiss if i didn't mansion ention on apple. it's being overshadowed relative to guidance, but tim cook said the magic letters for the first time, a.i., said it's going to have a profound impact on their business he said there's a product announcement coming later this year, i believe that's a foundation model, and the stock's not showing it today, but i would officially welcome apple to the generative a.i. freight train. >> what does foundation model

mean, gene >> those are the -- that's like xat chatgpt, the core engines that are driving these generative a.i. experiences apple is going to come out with one, it sounds like. that's going to change how we use siri, make it more conversational, and give apple an opportunity to provide something that no other company can do, because of apple's position on privacy, which is create this personalized a.i i think it's a big deal. i think people are going to love it and i'm anticipating this will be announced in june >> all right, gene, thank you. we're going to let you go here keep us posted gene munster we want to bring you some news on intel, which is causing the stock to move lower in the afterhours session by just about a percent right now. dow jones is reporting that intell is going to be delaying a $20 billion ohio project, it is citing a slow chip market. so, it had initially anticipated that chipmaking would start next year at this site, but now they say that, you know, the facilities will not likely be

finished until late 2026, so that really pushes that timeframe out. goal to you, the shareholder here >> it's not great news i'm not sure anyone was pricing in that plant to be a difference-maker, so -- can i ask -- we -- >> well, my question back to -- gene was talking about the a.i. thing. and so, here's a big thought out of a small brain >> we'll be the judge of that. >> be careful now. no, but -- if everyone is now into a.i. with the same size pie, why are we paying more for all of these companies, in other words, nothing has really changed. i mean, i get that -- if every company now says it is our time for a.i. and the size of the pie, whatever pie you're talking about, it's the same pie it's the same consumer, it's the same corporate spend, the same enterprise but -- >> the pie that big? right? it's enough for all of them to gain, still, and not for that competition, sort of, to really kick in -- >> i guess is it them gaining against each

other? but again, you know, we're talking about companies that all in some way are going to be using a.i. to change how they appeal to consumers. >> or gaining people like me and maybe karen, you know, other people on this desk who have apple devices and who are not using a.i. services right now. aside from -- >> not from apple. >> not that you're paying for. >> right that's true. >> yeah. >> why you are smirking over there? >> i'm -- >> listen. >> a slow chip market? is that -- >> that's what they said citing slow chip market. not the right kinds of chips >> exactly that's intel's story in a nutshell yeah, they live in an alternate universe but there's a price, and we had this conversation when they reported, 38ish, that's a level where i think if it gets down there, you buy it with both hands. coming up, not just big tech reporting after the bell sketchers and decker moving in very different directions. more on that ahead

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welcome back to "fast money. deckers outdoor and sketchers both with big moves afterhours kate rogers is here to take us inside the numbers >> sketchers is off some of its

lows, it was down as much as 13%. the company did have an eps beat, but removes a miss versus estimates. the stock is tanking as the company lowered its full-year revenue guidance revenues how expected to be between $8.6 billion and $8.8 billion. that's lower than the $8.9 billion. one bright spot, direct to consumer sales increased more than 20% for the quarter to $168.7 million moving onto deckers outdoor. that stock moving in the opposite direction, up by more than 5%. eps and revenues both a beat hoka brand sales increased with a 21.9% jump to $429.3 million for the quarter. buff the company's ugg brand did remain the top seller. it announced some executive changes here dave powers has decided to retire as president and ceo effective august 1st of 2024 its chief commercial officer

will become president and ceo in august once that transition takes place. back over to you >> all right, kate, thank you. kate rogers. i feel like it was just yesterday we were talking about sketchers pickleball shoes i guess they didn't sell enough of those or the kinds of shoes that you slip on, you don't have to bend down and tie the laces >> can i suggest -- >> yes >> you will ask -- a would you rather for guy >> all right >> oh, sketchers pickleball shoes or just a nice pair of flury uggs -- >> you have to wear one. >> that is the stock sorry >> what are you going to do? and maybe with a pair of shorts. >> i wouldn't wear uggs. and those crocs -- just by process of elimination by the way, sketchers the stock, we can laugh all we want, it made an all-tile high the other day. i get it, but if you look, inventories are down, i think, 14.5% year over year, 15.9%, i'm telling you, the operating

margins, if they didn't get this quarter, they might get this quarter. all right, we're getting some more color out of amazon's conference call. let's get back to kate rooney with more. >> ceo andy jassy is getting into the generative a.i. conversation he didn't give an exact number, but he did say it could add tens of billions of dollars in revenue for amazon over the next couple of years here he said 2023 was a significant year of delivering customer trials for generative a.i. specifically, on this quote, he said gen a.i. will continue to be an area of pervasive focus and investment across amazon, because there are few initiatives, if any, that give us a chance to reinvent so many of our customer experiences and processes, driving tens of billions of dollars over the next several years he talked about aws growth and cost optimization, he said, continues to attenuate he talked about agreements with bmw, nvidia, and says the

pipeline is strong when it comes to aws growth, which is what investors want to hear shares up 6% afterhours. >> kate, thank you kate rooney. you mentioned nvidia, and so that's exactly what they're talking about, talking about building out the infrastructure for a.i. and here we are >> virtuous circle and some point, dan, i know -- >> i'll be right at some point is that what you're saying >> yes >> maybe coming up, we're digging in on some golden gains for the miners all profit mining today. we'll go behind the shine, right after this een a huge help. at ameriprise financial, more than 9 out of 10 of our clients are likely to recommend us. our neighbors, the garcía's, love working with you. because the advice we give is personalized, -hey, john reese, jr. -how's your father doing? to help reach your goals with confidence. my sister's told me so much about you. that's why it's more than advice worth listening to.

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welcome back to "fast money. gold miners melting up with the gdx gaining almost 4% for its best day since december 13th the group outshining the underlying commodity, which just eeked out a gain so, is this move in the miners signaling some sort of, i don't know, flight to safety, tim? >> i think it is i think gold is moving higher. i say gold is the best 20-year chart you're going to find maybe people aren't looking for 20-year charts but it tells me it's going higher and all related to the things we talk about when we do macro on the show, especially now when we talk about u.s. treasury dynamics. gold miners have underperformed. you had a beta of almost 3 to 1. you have not had that, in fact, since gold rallied 21% from, you know, mid-november of '22 to the present. gold miners are up also 21%.

i think the miners are absolutely ready to move you want them. >> is there a miner in clam? >> pardon me >> in your acronym >> yes we moved from call to clam that our agnico eagle mines. and tim is right when gold makes an all-time high, the miners will follow in a major way. >> une, natresp xtfil ad (jen) so we partner with verizon. their solution for us? a private 5g network. (ella) we now get more control of production, efficiencies, and greater agility. (marquis) with a custom private 5g network. our customers get what they want, when they want it. (jen) now we're even smarter and ready for what's next. (vo) achieve enterprise intelligence. it's your vision, it's your verizon.

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uh-huh... - hip-hop! - limping! mmhmm! medical bills! uh-huh! - pancakes! - cash! who pays you cash when you have medical bills? grrr! no idea. [tapping] gap! the gap left by health insurance? who pays cash to help close that gap? aflac! oh, aflac! get help with expenses health insurance doesn't cover at aflac.com pictionary?! one more look at the big tech afterhours movers we have meta still holding onto the massive gains of 4% right now. amazon up by 6.7%. apple is down by 3.4%. they indicated to analysts that expectations are a little bit too high for this march quarter. let's get to the final trade. tim? >> big moves in miners everywhere, but gold miners, gfi, is one of the best of the breed. >> karen >> yes, with all this qqq stuff going nuts, iwm.

>> dan >> the p in your bicep trade, peloton. >> paypal. >> well, pelopeloton. >> peloton is in carter's trade. guy? >> exxonmobil reports in the morning. i think you buy it after earnings >> thank you for watching "fast money. see you back here watching "fast money. see you back here tomorrow "mad money" starts now 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 "mad money. welcome to cramerica other people want to make friends. i'm just trying to make you some money. my job, not just to entertain but to educate and teach you so call me at 1-800-743-cnbc or tweet me @jimcramer. let's talk about the megacaps. just because we haven't seen the likes of them before doesn't make the