still being strong. it has nothing to do at the moment with a.i. >> well, wealth, well, you are starting to see more implementation of certain types of technology. >> for the moment. >> yeah. but in the meantime this all kind of takes us back to the argument for no landing and maybe no fed cuts this year. we'll have to see. that's going to do it for us here. >> have a good weekend. "fast money" begins right now. ♪ the nasdaq kicking off march with a new intraday high topping the previous best level set no november 2021. we are coming to you live with the action from the heart of new york city's time square. on top tonight, bruised apple as markets hit one record after another, thelong-time biggest company in the world is not coming along for the ride. what does it mean for the tech giant and strength of the rally? owl dell, new tricks. the legacy company sworn to all-time highs after the latest report showed surging demand for a.i. servers. how it could shake up

competition in the space. a weight loss drug promising competition for big players. could it mean an acquisition is in the future. we will dive into it. i'm melissa. tim see more, courtney garcia and guy awe daumie. the nasdaq jumping more than a percent, notching the first record intraday high since before thanksgiving 2021. the tech-heavy index closing below 16,300. the s&p also marking all-time highs putting in its 15th record close since january 1st, but there have been one notable name sitting out of the market rally. apple posting another loss today and is now down nearly 10% since hitting its record in mid-december. whatever happened to that old idea that we like to say, bandy around here, that markets could not go higher without apple? what does it mean for the rally? is this actually good news for the market, guys? >> i'm one who adhered to that.

again we play the game often. guy, if i told you that apple would be -- >> hold on. is that a third person reference? >> not the way i could have. >> not the way i would say. >> it was uncomfortably close to a third person reference. >> we are very uncomfortable at times here, but you know what? we'll bring it back a little bit. apple is below 180. where is the s&p 500? i don't know, it has to be down a few hundred points from the all-time high. it is not. apple has not traded well since december. what has happened here? well, maybe it has become a source of funds. maybe people see that growth isn't there, the valuation is extended and it is not justified where other companies at least have the growth that maybe you could wrap your head around. i think that's what is going on. to answer your original question, absolutely not that i think apple would be under pressure and the broader market would be making all-time highs. >> the context is that the max seven no longer traileds as a monolith. tesla dropped out, apple dropping out, maybe it is good that maybe some money is being transferred to other areas. >> i think that's what you want to see, right? we don't want five companies

leading the market rally higher. we want the entire broad markets rally and you are starting to see that. the market is broadening more than people realize. things like health care and industrials are also hitting on the all-time highs in the last week and even things like financials are starting to get up to those evels, too. i think that's what we need, is a broad market rally. that's what we're seeing. that is more indicative this has more room to continue to run. these all-new highs are from two years. markets went nowhere in the last two years. we have a ways to go here. >> i think apple is the number two in the nasdaq 100. number one is microsoft. both are about 8% or so. so tim always points this out, that apple has been under performing for quite sometime in the overall market. so i don't think this is anything necessarily new, but how does the market perform when we all start to look at it? >> that makes sense. we haven't acknowledged the fact it has been under performing until -- >> it has been under performing but because we haven't talked about it, it is not happening? >> if a tree falls in the

forest. >> exactly. >> did it ever fall? >> you know, right now it has been going on for quite sometime and the market has been performing just fine. >> now that we know it is happening, now that we -- >> steven has outed apple here. >> people might start to use it as a source of funds. >> increasingly, the selling pressure increases here? >> i think it could. i think you could see sell pressure in microsoft because of everything going on with elon musk and openai. so if you start to see the top two holdings of nasdaq under pressure, microsoft means a lot more to the overall market than apple does. >> i use my decoder ring. >> let me lend some sanity here. i think -- >> oh! >> i think it is all about semiconductors. we don't need apple because we have semis. semis outperformed the s&p by 20% since january 4th. the entire s&p that everybody thinks is having a great year, and it is having a great year, semiconductors, until they stop showing leadership we are fine. not only that, they set the stage for the market for the

last year and a half. again, it is semis are out performing nasdaq or qqqs, smh over qs equals s&p higher. until it starts happening we don't care about apple. what happened today to semiconductors that the sox, the philly, whatever you want to look at, the smh was up over 4% when in fact we rallied. it is a 20% move in the semiconductor index, in other words it has moved 20% higher in a month. this is coming -- yes, we have nvidia's earnings, we know what is happening, we are getting positives out of amd and where they maybe ready to compete, we heard from dell. everybody that may have a real ability to throw their hand into the ring, that's important. courtney talked about market broadening. i think this week was all about that. as much as it was about semis in today's 4% move is extraordinary, it is really a breakout in health care, wealie a breakout in retail. energy is catching fire here. all of these sectors, and this tells me we are getting allocation and tells me that

people are allocating. it is not the other, you know, the seven, not even what happened to the other 493. they're playing ball and i think they're going to continue to play ball. >> quick math you did. did you see it, 7, 4, 93. the whole thing worked. >> he's clever like that. >> i like that. >> amd, we were -- we were together, we were at the fontainebleau hotel, which sounds odd but we were there for work, sitting by the pool doing our show. the fourth quarter was okay. the first quarter guide was not great in the semi stocks were going ballistic. the stock added 25% since then, maybe some news. you know, amd all of a sudden has got itself extraordinarily expensive where it was an extraordinarily cheap stock two-and-a-half, three quarters ago. that fast you can go from valuation you can get your head around to valuations that don't make sense at all. >> we said we don't need apple because we had semis.

you really mean a.i. >> yeah. >> is that really what you mean to say? >> i think it is because if apple's growth was more about reaffirmation of the consumer in a services business and multiple expansion, multiple expansion in a.i. is we'll ask questions later and we'll price nvidia on a 25, you know, eps multiple north of $25 which makes it, by the way, not an expensive stock. so, yes, that's exactly what is going on. and whether that's right or wrong and we are now questioning how big this pie really is for everything, i mean i understand that nvidia is a winner but i'm not sure if we have a bigger pie to draw from and yet we're pricing everything higher. >> and without a.i. you get commodity pricing. you get boom/bust. right now it has extended the cycle for chips where normally chips would run in the cycles with the economy. now they're running into a different cycle where a.i. -- >> a super cycle? >> i don't know if you could call it a super cycle because that makes me think you should short it.

>> the secular growth story. i'm trying to think of the buzz stories. willy-nilly, it doesn't pan out. >> think about pixie dust, right? we were all talking about pixie dust and nvidia proved they could make billions off something that was tangible. now we're starting to see who can actually make revenue on pixie dust that's no longer pixie dust. we saw that salesforce can't do it as of yet, right? so amd can do it. nvidia can do it. the chips can do it. the rest remains to be seen. >> look at broadcom, a name we've done a decent job with. it looks expensive because it is a $1,400 stock but you do the math and say, wait a second, it only trades at 25 times next year's numbers. i got to tell you something, that's more than reasonable in this environment. i think they report next thursday. you know, there are stocks in a secular shift that make sense. to me other stocks have just gotten way ahead of themselves. >> here is the question at this point. if you had a dollar, $10, whatever amount of new money right now uninvested on the sidelines, where would you put it to one of these sectors like

a health care or retail that are showing signs of breaking out, catching up with the reps of the market, or would you put it in the a.i. trade? >> i mean i think you need both, right. i think with new money i'm absolutely leaning towards health care. >> by the way, she didn't answer the question but that's fine. >> don't worry. it is in my head, in my notebook. >> reminds me of buy -- >> anyway. >> there's a feeding frenzy when it comes to a.i. companies are realizing if they're not getting into it they will fall behind. everybody is trying to find a way to be profitable in it. there's a lot of case of not business use for it but it is creating a frenzy where they're getting more chips and arguably it is making a double ordering issue, whether it is getting more chips than they needed. down the line you may see a glut because of that. i think you are seeing that going into the share prices and it is becoming a high valuation and everyone says, oh, it is keep going, probably will for a little while as people chase it but longer term i would look at things like a health care that i think will continue to be profitable in the under rally compared to this item. >> same question, grasso.

>> i would go biotech. >> over a.i.? >> over right now -- so i agree -- >> answer the question, by the way. >> i always bring everything back to, would you rather but you don't like that either. so for me i would go biotech and i think you have to go with the smaller cap, the more equal weight as carter worth would talk about versus the ibb. go xbi and i think you have more bang for your buck there. tech is only up in xlk terms about 9.5% year-to-date. xpi is up 13.5%. >> i know it runs counter to the growth, but i love utilities here and i love mlps. utilities have so underperformed, you know, there was a question last year whether they really coexist so to speak with the higher energy cost, the higher yield cost. a lot of the infrastructure build out but a lot of utilities were under a whole lot of pressure. mlps, what we've proven is that a lot of these -- call it, you know, mid tier companies are actually making money and they're much more capex

defensive. i think there are places in the market that continue to look good. it is not necessarily that the equal weight s&p is outperforming. it is all the sectors that have under performed that are rally weightings in the s&p. utilities are not a massive weighting but 3%. energy is 4.5%, energy is starting to break out. i think they're places to play. >> energy. i like being the last because i can listen to the other answers and have time to think about it because it takes me time. >> and that's the best you came up with? >> well, it is. again, look at crude oil. stealth rally no one is talking about, number one. look at these names, all making all-time hice. you know what? xle is quietly getting off the mat. i think people are not paying enough attention to energy. >> we thought it would be a good time to look at market technicals. chart master carter braxton worth joins us to dive into the charts. what are you looking at? >> let's look at major averages

and indices and where they are now in relation to former highs of late 2021, early 2022. put up the first table. all three of these well-known, of course, s&p 500, the dow and the nasdaq composite, are all above their former high. so two years later, s&p up 6.6, industrial is up 5.7, and as you just mentioned the nasdaq composite making a slight new high. now then, of course, we have those that haven't quite recouped their losses. so the s&p 500 equal weight is not quite back. the mid cap index not quite back, but close. russell 2000 nowhere near close to recovering the loss. the dow jones transportation average is still down 13-plus percent from the former all-time high. let's look at a chart or two of some of these and we can go from there. the question is do we chase -- do we chase the winners, right,

or do we maybe play the liar. here is the s&p. again, you are up 6% but you will note the s&p consolidated for one full month, actually five weeks before it broke out, right. it got to the formerhigh, consolidated and then exceeded the high. now let's look at the next and the next, and you will see that the equal weight has just now returned to that level. the presumption is that it too as the s&p did will back end fill at a minimum, meaning before you exceed a high typically you contend with it. look at the nasdaq composite as well and you will see the same circumstance. so were these two that are catching up to the s&p do what the s&p did? one can anticipate backing and filling or backing away before going higher. and then finally, relative performance is everything. so let's look at a ratio chart. this is the nasdaq composite divided by the s&p which gives you a relative strength line. what we know is the nat dak composite's relative performance peaked in 2021 and still way,

way behind the s&p. and then finally, of course, the nasdaq composite overall, its relative performance to the nasdaq 100 is making new 20 and 30-year lows as we speak. >> that's a very interesting chart, carter. i want to pose a question to you that i posed to the folks here on the desk tonight, and that is if you had to put fresh money to work today, where would it go? would it go in the so-called winners, the mag five or however many you want to call it or semis, or would you go to the sectors that show signs of life now and are catching up like a biotech, a health care, retail, et cetera? >> sure. i mean i think it really gets down to large versus small cap to some extent, and so i would answer it by saying i would rather have an overweight in russell 2000, iwm and spy, but i like the energy theme you all were batting around on the desk. i think it is a good play here. >> all right. carter, good to see you. carter braxton worth of worth charting.

iwm closes up 205. we have been pointing out that's resistance, a very good sign so he's on to something there. that's a two-year resistance level we are through. we will see if that plays out. what's that holiday on the 4th of july? >> 4th of july? >> that's the one. >> that's so weird. >> odd, right? how long have we been doing this show? 17 years. >> 17. >> so it is the same day of the week, right? >> i want to show carter braxton, that cat signed the declaration of independence. >> not the one just on. >> that would make him very old, but it is ancestry. so it is incredible. i like him even more now. >> he is like american royalty. >> sure, he is. >> speaking of him, back then we obviously became our own and we pulled away from our friends in britain. if you look at britain and if you look at germany and you look at japan, the international markets are outperforming the s&p. >> quite a segue. >> that's what i do here. it is a case where when the s&p is working historically we have seen international under perform and there's been reasons for it.

places where they don't have a whole lot of high tech and a lot of a.i. i think are responding. this is the whole thing about the real economy outperforming and i think it is going to continueand these are long cycles. this is ten years of under performance for the euro stocks 50. i think it is a trade you can stay in. >> you like international, right? >> absolutely. we have been talking about that because tech has been outperforming. there's a lot less tech as was alluded to in the foreign markets than in the u.s. and the valuations are so much lower. again, you want to pony both but with new money, things like health care, energy, and absolutely international you want to allocate your assets to. >> if we look at international making new highs to tim's point, you have germany, franks, japan making new highs. the domestic market here seems as though it is on fire and i want to be cautious of it. we are due for some sort of a pull back. i'm not calling for a bear market but we have to take a little bit of a speed bump. but other than that i think the u.s. markets will continue to lead.

>> all right. coming up, it is a bird, it is a plane? no, it is spirit air systems soaring on news boeing is in talks to buy back the company. we will weigh the pros and cons of this potential mega merger next. plus, a casino crap out. malco hitting the lowest levels in over a year after a disappointing report. now is the time to buy this macau macao trade. >> this is "fast money" with melissa lee here on cnbc. [sfx: wind, rain and rolling thunder] [music up and under] ♪♪ crowd: get in! [crowd cheers] american announcer: justin rose has done it. british announcer: he's a 17—year old phenom. nobody's born with grit. british announcer: this is hard to watch. it's something you build over time. american announcer: that's 21 missed cuts in a row. [car trunk slammed shut] ♪♪ but creating a future only you can see,

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welcome back to "fast money." boeing and spirit air systems confirming after the bell that the two companies have held talks to recombine. reports the discussion sent shares of spirit soaring during the regular session. bont companies saying there's no guarantee a deal will happen. it comes less than two months after the door of a boeing 737 blew out mid flight. it has been a bumpy ride since spirit spun off from boeing in 2005. the stock saw the best day since october. boeing is down almost 2% on this news. a lot of analysts say it would be good for spirit and long term

possibly good for boeing, too. >> we talked about this actually for years. obviously it is coming to fruition now. we talked about it when spirit was trading higher than it currently is now. i do think something has to be done here. get it back underneath boeing's umbrella and figure things out. spirit should go significantly higher from current prices, but once again boeing at this $200 level, not because it is a round number, because actually it is technical support, this is where it has held a couple of times and where it needs to hold now. >> yeah, they also say boeing could possibly pay all cash for this effectively and use their credit facility, because they just paid down $4 billion worth of debt recently. so their balance sheet is fairly good for this. >> yeah, there's a price for everything and i think it is what this comes down to, and also at a time when there's so much pressure and focus on boeing who outsourced so much to so many other companies and this is obviously the biggest outsource and that's the problem here. there's a lot of people that have to see some kind of major change at boeing. the faa is going to continue to at least go out of their way to be vociferous on certain things have to change. this is the kind of thing about

bringing a lot of the stuff back under their own roof again over the last 15, 20 years boeing has done a lot of outsourcing with a high correlation of what is going wrong. >> if that's the case you would think boeing shares would be higher, if the vision is claw back some of the operations, put it under one roof and have more control over it and get the operations in order, maybe it could be a turn point. >> i absolutely agree with that, but i wonder to a certain extent if you are getting the boy who cried wolf where boeing, we keep thinking they will turn things around, we thought it for several years but they keep seeing issues. i think the rumors of this happening will not be enough for investors to jump in here but absolutely i think it would be a good thing for boeing. they need to get some of the quality control and give the investors the optimism that they have turned things around. i don't think these rumors are enough of that clearly but you have to see them follow through. >> boeing is a duopoly. the reason the stock didn't cave further, if it was any other stock if you would have found

out the headline before and see what the price action is, boeing should be much lower than where it is now. spirit needs boeing, boeing doesn't necessarily need spirit, but the fact that they're hanging in around $200 is surprising for me. i think the stock should be much lower but it can't go that much lower being a duopoly. >> to me it just depends on what they pay for it because spirit actually will be created on a free cash flow basis. they have a higher free cash flow yield. one of the things i love about boeing historically is it is a company that generates a lot of free cash flow. i think it is a company that will again. if you have the right time horizon i think you will be happy with a boeing investment here. it is not turning over overnight. a lot more "fast money" to come. here is what is coming up next. is today's casino crap out your ticket to crash in? we will test the odds on rebound rowlett next. plus, more lehigh valley for eli lilly, is mna the secret for

more gains in the stock? we will take a deep dive into the options market to find out. you are watching "fast money" live from the nasdaq market site in times square. we are back right after this. fresh, warm hot dogs! when i'm not selling hot dogs, i invest in a fund that advances innovations like robotics. fresh, warm hot dogs, straight out of my torso! one for you, one for you. oh, you're a messy one. cool, right? so cool. anyone can become an agent of innovation with invesco qqq, a fund that gives you access to nasdaq-100 innovations. hot dogs! fresh, warm hot dogs! before investing carefully read and consider fund investment objectives, risks, charges, expenses and more in prospectus at invesco.com.

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♪ ♪ welcome back to "fast money." we have a news alert on the newest entrance to the s&p 500. pippa stevens has thissa, superr and deckers outdoor are set to join the s&p 500. they are replacing whirlpool and bancorp. they will go into effect on monday, march 18th, to coincide with the quarterly rebalance. the super micro feels like a sign of the times here. back to you. >> yes, it does. thank you very much, pippa stevens. not too long ago super micro wouldn't have been a candidate to be added to the s&p 500. whirlpool going out, that's been one of yours in the past. >> yeah, it has. it has not been for a while. i would say i'm neutral on the stock. we have seen it getting kicked out of the down as being a bottom for a lot of stocks. look what it did for exxon, different circumstances. but for whirlpool coming out of

covid where there was supply constrain at a time with demand, ran into margin pressure on supply constraints, a lot has eased. there are challenges ahead on margin but i think the stock is interesting, and i think at this point it has gotten more expensive as the earnings have deteriorated a bit. but i think it is an interesting spot, and this might be that moment for the bottom. >> decker has put up a huge quarter on february 1st. i mean -- >> does that pain you to admit it was a huge quarter for deckers? >> no, i mean should it? >> let me ask you a question, would you rather, hugs or crocs, what would you do? >> you know. >> what would you do? >> i'm allowing it. >> since you brought it up and i have to pick, uggs. crocs to me, you have given them life -- >> uggs hide the toes. >> so the ones with no back you can slide in with some fur? >> well, you would need the fur. >> anyway. >> i didn't do that. you're getting mad at me and he did it. >> i'm not mad. >> it does not exercise me as much as some other things because the quarter was -- in the old days that quarter should

announce to the upside because it was ridiculous. a lot of upgrades on the back. look at decker's chart over the last two months. you talk about parabolic, this is it. looking for a sign of short-term top made add it. meantime, casino stocks crapping out. shares in the hong kong based operator dropping 8%, hitting the lowest level since 2022. tim, you added to your position here? >> i did. these numbers were not bad but they seem to be under performing peers in macao. the good news is macau is starting to take off. if you look at the gross gaming revenue for macau for last month it is 22% comparative time pre-covid before everything locked down. patience is a virtue. i think across the casinos, especially those with asia, especially macau exposure, also the case with las vegas sands which pulled back but i like the story in melco. it is not terribly expensive.

i think they have cover relative to foreign players in terms of licensing and some of the concerns are left there. i think be patient in macau. i do like this trade long term. >> you are watching casinos today? >> yeah, and las vegas i'm long it and i'm long a little bit -- from a little lower than where it is now. it is basically a technical play for me where i thought most of the damage was done in casinos for all of the macau headwinds that we were talking about. i think it is a good entry point. this has been either las vegas or you go wynn or you go mgm, and it depends on where you want to play. i'm choosing las vegas. a lot more levers there. >> you're trying to create a would you rather here, and i'm going to take the other one. i'm going with mgm because i like the macau play a lot but i want to take something with a little bit more of a diverse -- >> are you saying that you're not playing? >> i'm saying it is interesting what she did. she acted like she was blaming me and then she went ahead and did it. i never saw it done before and it is really good. >> like a jedi mind game.

>> yeah, yeah. >> anyway, you mentioned the three. but, yes, i would look at something with a more diverse portfolio here because i like the optimism of macau but you want to make sure you have u.s. and online gaming. i think there's a lot that will be going forward there. coming up, more love for lilly. bank of america seeing healthier returns ahead of the pharma giant. we will dive in to the call and scour the market for take outtargets in the biotech space and specifically in obesity space. investors take a shine to gold this week. we will dig into the top names and help you mine for profits. more "fast money" right after this.

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welcome back to "fast money." stocks closing out yet another record week today. the nasdaq hitting all-time intraday high, finally surpassing 2021's previous record. set a record close for second day in a row. the s&p 500 closing above 5100 for first time jumping nearly 1%. u.s. crude oil on the rise, briefly jumping above $80 a barrel for first time since

november as opec plus gets set to decide whether it will roll production cuts through the second quarter and possibly through the end of 2024. meantime, a call of the day, big lilly love on wall street, bechk hiking the price target on the pharma stock to $1,000 a share up from $800, 30% upside from today's close. analysts citing upside on glp1s. those sales could surpass $60 presidential by 2030. they're seeing other indications sleep apnea, fatty liver, all of those are under appreciated in terms of current valuation of the stock. >> well, it is really easy to take an addressable market and go bananas with it. i'm not -- you know, we had a great conversation with dr. patel last night about the platform effect of what is going on at lilly. you know, it is hard to argue with that. i mean there's no question they're going to be able to not only have the headline but able to drill in on some of the --

call it the ancillary dynamics including in muscle loss while you are going through the weight loss process. so i just think we are over doing the addressable market. i think it is so easy to paint a picture of not only the kind of pure medical dynamic but then the elective dynamic of weight loss. i think you have to be careful. >> i wonder if you calculated the medical, the total of addressable market in terms of how many people can actually afford it or have insurance coverage of it, how much that would go down, how much smaller that total addressable market would be. i would imagine much smaller. >> i don't need to get into the results of this, but i had a -- you know, as we get older we have fiscals, right. i went and see my doctor -- >> why are you looking at me? you looked straight at me when you said that. >> i was looking for affirmation. i was talking about myself. >> are you all right, jim? >> everything is time. i went to see my doctor and asked her, look, considering we are in an area of new york and i think the demos are something, i'm curious what percentage of your patients are electively asking for glp1s.

she said probably 25% to 30%. >> that's a lot. >> which is crazy. it is absolutely a lot. it is a demographic dynamic i don't think is anywhere near as high in other parts of, you know, the city, the country. >> like which parts of the country? >> and people that are geared a particular way and are looking for, you know, those kinds of results. >> 10:00 p.m. last night i watched a documentary. outstanding. if you haven't, you should. price ranges now range from 540 to 1,000. i think morgan stanley was first to put $1,000 price target on lilly for the reasons we talk about. tim talks about competition. you watch your doc, it is absolutely coming. it is a two-horse race but competition is coming. when examination comes, what happens? margins decrease and obviously prices start to come in and your earnings theoretically should come in as well. we talked the other night with jared about this. you have to talk about a company that is currently doing $50 billion in revenue. you to almost triple that to justify the valuations you are

seeing right now. >> let me put this out. >> throw it out. >> what is competition is like a viking therapeutic which may not necessarily have the cash to bring it all the way through the manufacturing process, and even if it does. let's say it does and goes with it as an independent standalone company, it will be years. if this analyst at bank of america is right, from 2024 to 2030 the sales are ramping. if they're still the two-horse race can we still see multiple expansion? i mean for right now that's the question, right? i mean can this stock go higher even if the other companies are in parallel working on competitors that may take some of that market share but much later down the road? >> back to bank of america's note when they put the 30% upside on it, at that level it is over a trillion dollar company. >> staggering, isn't it? >> it was $125 billion company pre-covid. so i don't know, maybe. >> lilly is the nvidia in this space. it is theirs to lose. when you talk about competition, you look at an amgen that was

$320. i was long and sold out. it traded below $280, so they've gobbled up a lot of their competition. they're the elephant in the room and one of these smaller players makes a mark, they could gobble them up without even burping. it is still lilly's to lose. >> i think that's actually wise as an investor, it might be worth while to look at aya. lilly is one of the largest holdings there. there will be a lot of m&a in the space. it will be hard to choose who has the growth potential and maybe they are tapped out to that point. i'm not negative to lilly but on the other side of the port feel it is probably a good play here. >> steve mentioned burping, maybe it is -- >> gas ftrointestinal related issues. >> yes. >> imagine what it would do to me. it is not getting into. >> those are a problem for you. >> i'm already a problem anyway. >> people are laughing in the back. it is not even friday night and

they're laughing. >> it is a family show. speaking of competition, shares of viking their peteings continuing to soar. a big move higher has option traders stepping on the scales. mike, what do you see? >> yeah, this one already has seen a big uptick in options and it traded more than two times the average daily call volume again today. a big concentration of that flow took place on the april 125 strike calls. that's $40 higher than where the stock closed today. that included a sale of 2,000 of those for basically a million bucks, $5.10 a share. i think that's against a long stock position. so if you owned it at 20, which is where the stock was trading not that long ago, you just offset 25% of your purchase price by selling calls and you still have a lot of upside. by the way it is a strategy a lot of folks in the risk guard space like to do. if you were trying to bet on potential upside, maybe a take

out, buy the stock and sell the upside calls for extra juice. >> mike, thanks. mike khouw. dr. patel was saying you're pfizer, you should buy it, tim. >> savvy investors. savvy investors, savvy drug companies like pfizer would be wise to go make a move here. that would be great. >> all right. why are you just chuck willing? >> it is friday. i'm in a really good move. >> i know. >> you know, i'm just saying. do not miss an encore presentation of my new documentary "big shot: the ozempic revolution." it is airing again tonight on nbc's news now platform, 9:00 p.m. eastern time. coming up, getting resourceful. gold materials, minors all up as the resource trade gets a boost. the names to watch, next. looks like you could teach an old dog new tricks. the name when "fast money" returns.

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because in the clam acronym and i actually was calm to start. >> and you flipped it. >> kpflipped it, yeah. >> oh. >> martin marietta is m. martin is the mine. i hate to say things categorically. gold is going higher. it hung in there like a champ. ten years, went from 1080 to 340. ten year yields off today. the dollar showing signs of topping out. i think gold goes higher from here. >> you look at gdx versus gld, gld grossly outperformed in this. it is a wonder. usually you get the out sized beta play with gdx. it is not happening. they're not moving in the same direction. i wonder how much is digital gold because we've seen bitcoin really have a day or have a month or a couple of months since the etf and we are seeing grayscale ethereum as well picking up, up over 300% in the

last year. i think a lot of that is muddying the watersaround gold. >> have you put any clients into bitcoin etf so far? >> not by our recommendation. i have had people who have gone against it and are getting in it but we do not recommend bitcoin. i think with gold too, the trouble is there's been so many reasons gold should go higher. people thought, okay, if we have a large u.s. deficit, which we have, it will go higher. if we have a default, it will go higher. there are so many reasons gold should go higher around it has not been able to break out in the last four years, in the same range. if all of these things that should be a reason to go higher haven't brought it there, i don't know what will bring it there. i like commodities, look more in the space of copper used in electric vehicle engines, some of these things that have a more use case than specifically gold. >> i believe in long tail and long cycle investing especially in the commodity world. looking at a 20-year chart on gold i think you will think it might be the best chart you have seen. i think gold is going higher for the reason it bitcoin is going higher.

i understand the sexiness of bitcoin and why there's a faster move. but the gold miners is frustrating. i think it is due to the operational dynamics of gold miners. we question whether miners are throwing money out the window. i think it is a great opportunity in gdx. coming up, is what is old now new? an old tech name could be the winning text in the a.i. trade. we'll reveal the stock next and here is a sneak peek at the cramer cam. catch the full interview at the top of the hour with "mad money." more "fast money", too.

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the stock. ben, welcome back. there's a lot to unpack in this dell report including the read through to an amd and nvidia. first with dell, does the momentum continue in your view? >> yeah, i just upgraded the target today without a buy for a while. the momentum likely does continue. i mean they are dem -- they did $2.20 in the quarter, probably do $2.50 quarter coming up. you can get a mid teens multiple on something like that which is $10 run rate in earnings and it can go higher. dell used to get like 27 times earnings when i broke into the hardware space over 20 years ago regularly. people forget those days. when you are secularly right you can get a real multiple. >> we sort of teased this segment, saying could this be the a.i. catch-up trade. do you think it could be? >> it was a big trade today, huh? >> yeah. >> 32%. i have never seen dell -- i think they've never done that. this is like old school 1993 days or something.

it will catch up. i think that dell is on the right track. i think michael dell showed that dell is getting the gpus while some others aren't. i think that they are doing a great job how they're laying out the nvidia line-up and they have an edge because of their brand, and also hpe may be distracted this year because they're doing a big merger. so dell has got a lot of wind at its back. i think it goes higher. >> this screams about a market that's caught off guard. you normally look for short interest in a name like this to see where everyone was on the right or wrong side. i don't think that's the aspect that happened here. i think it was just everyone has forgotten about dell. so along with the a.i. where melissa says it could just be the catch-up trade, there are other things that they're doing well, as well, correct? because if it is just the a.i. that caught everyone off guard, the stock seems to have the ability to retrace. are there other stuff that's in

the pipe that makes you more optimistic, not just a.i.? >> well, they're executing really well. the quarter they actually crushed the storage number. everybody beat their storage in the fourth quarter, especially dell. maybe people are getting their data ready for a.i. and loading up on their disks and flash and we're starting to see some of that. so they're in the cat bird seat there but they're executing really well. their financial acumen is very impressive. the pc market is a little paused right now and their margins are still really solid, and then that should pick up later this year and they're in the cat bird seat and it is good for their cash flow. >> november 20th, buy dell as an a.i. hardware play. $68 stock i think at the time. it has doubled. that was you. >> yeah. >> so when you see the stock go up 50% in two weeks or less, i mean at some point market forces sort of take over and you got to get some back-end fill we call it in our world. do you waste time thinking about that or do you say, you know

what? yeah, it could go down $10, $150 f -- $15 bru it is all systems go? >> i think we're in it. i'm so happy i'm covering these a.i. stocks at this time. it feels like the second time i'm in it, we all talk about the '90s, but i'm jazzed. i feel like we're in the beginning of it, i don't know what inning, everybody thinks they're an expert. but we don't have the applications humming yet and they're getting into enterprise. i feel like we're in the beginning here. i'm not sure where it goes. got $152 target. i didn't know it would go up 32% today and it did. so i think we're in good. but watch other ones. you know, intel has been forgotten. maybe it is one of the next ones. they don't actually have the a.i. chip that the other guys do, but they're going to get some pcs and some good old traditional server love. there could be some more catch ups. >> to reference pearl jam tens, why go? don't leave, don't go anywhere, stay here. my question really though is --

i was just -- >> gratuitous use. >> gratuitous use, we were talking about it, which is helping ratings right now. >> ratings gold. >> this is a trading show as well as an investment show and semiconductors were up 4% today. why? >> i get what they've been doing for the last three months, six months, nine months. i don't believe there were headlines today. you talk to investors all the time. do you have any sense of where people are under invested, where they have missed a lot of this trade, any sense just that the investor dynamic is going on right now? >> well, there's a lot of dynamics. i mean on dell a lot of the view was pcs aren't so great, so we got to be short something or we got to be underweight something and it was like, oh, my god, they're crushing. and that was one of the best conference calls dell has ever had, like going way back. so people were caught off side. but i think people need to realize there's an a.i. halo effect that's going to take place if this is real, and we

wrote about that when we initiated coverage several months ago now, and it is going to touch a lot of things. you are going to need a good network connection eventually, but you need strong processors, regular old processors, gpus. you will need consulting and a lot of things here. so we're feeling pretty good. all right. good for you. thank you, have a good weekend. >> thank you. >> would you buy dell here, courtney? >> i think for all of the reasons he said here, which are good points, you are going to see a return to hardware. i think dell, which is interesting, they have a lot more towards businesses than individual pcs. i think we will probably see businesses start to catch on to the trend sooner or put the money there sooner. i think it will be a benefit there. i think it is something you want in your portfolio. up next, "final trade." 's r! hi! this listing sounds incredible. let's check it out. says here it gets plenty of light. and this must be the ocean view? of aruba? huh. this listing is misleading. well, when at&t says we give businesses get our best deal, on the iphone 15 pro made with titanium.

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>> dell. >> sky. >> a lot of money in garbage. check out the rsg chart. unbelievable. >> thank you for watching "fast money." have a my mission is simple, to make you money. i'm here to level the playing field for all investors. there is always -- and i promise to help you find it mad money starts now. >> pay, i'm cramer. welcome to america. i'm trying to make you money. my job is to entertain and educate. so call me at tony sarsam three or tweet me at @jimcramer. i'm wondering,