welcome to "power lunch," everybody. alongside contessa brewer, i'm tyle ty tyler mathisen. we're going to break down a single stock with three different schools of thought. more on that later. >> slice and dice it up. that's what we'll do. the olympic ceremonies are hitting the big screen. i'm talking a really big screen. i imax is going to show the opening ceremonies. only the recent example of

theaters branching beyond film and into events. we'll discuss that with imax's ceo. >> the three are mixed with the dow down about a half a point. the s&p 500 is flat, and then nasdaq up by .36%. the do you is still remarkably close to that 40,000 milestone. >> the components make up the majority of the moves. you had apple moving on the doj suit. as you can see today, it's up .75%. boeing's ceo, the stock up almost 3% today, and disney is having drama with its board off. >> we have a screener highlighting the dow names most likely to push us over 40,000 based on the targets. they include, interestingly, boeing, united health, nike, apple, and amazon. >> let's delve into one of those

components. the shares slightly higher paring back some of the losses after they sued apple in an antitrust case. the case may not even reach trial until the second half of 2026. chris jenkar wrote the note. he's a tv director who covers semiconductor commitment. it's good to talk to you today. why do you think that apple buys a little time just because the case gets pushed off and we may not see courtroom drama happen for another couple of years, chris? >> thanks for having me. i think that timing is based on what you've seen happen with google and microsoft and those cases. that happened to them to get all their ducks in a row before going to trial. it doesn't necessarily mean that's going to be the case, but, you know, based on prior precedents, it seemed like a likely outcome that takes a while before it goes to trial. >> do you think that -- do you

think that apple could be facing some repairs or some remediation in advance of the legal path that we see ahead that could actually eat into its bottom line? >> no, you know, like if you are talking about, like, potential hits, i would say that until the, you know, they're out to, you know, impact apple, i don't see any risk to the actual numbers per se until you start having, like, a final decision outcome, but i think the risk is overhang and there's always a slight negative to the stock you know, if many investors think this will start eating into the margin services business, it could have a slight negative impact on the multiple. i would probably say the intermediate term, i don't see the numbers actually getting impacted with the stock, but it's a different story. >> what do you think the impact on the stock is going to be? >> you know, at this point,

we've seen the stock has honestly been moving 2% or 3%, and depending on how we look ate,at it, calling it a monopoly, and if we look at the u.s., apple's revenue share was 65% of smartphones. if you look at the unit share of total units, it's about 55% to 60% probably more 70% for the premium smartphones. it depends on how you slice it and dice it, depending on how you look at it. some people are trying to digest the facts. >> what do you think are upcoming catalysts that we could see that could potentially move the stock price higher? >> you know, i think from a catalyst standpoint, obviously you're going to have people expecting some kind of product in the q2. obviously the earnings are end of april, and early may. in june, the other one for the conference, and it's definitely catalysts in terms of releases

in addition to earnings, you know, in terms of what outcomes will be, and it's hard to handicap it, and it's with apple talking openly about it, and we're still evolving and they don't comment on legal matters. >> do you think that there is a chance that regardless of what the doj does, and how that path goes about regulating its competitive mode, do you think that there is a case to be made that apple loses share because its products are super expensive? and i mean, we heard a guest on "the exchange" last hour with tyler talking about how young people don't have a lot of disposable cash, that maybe a more affordable option starts to eats into apple's considerable success? >> yeah, it's interesting. the iphone is the biggest cash driver, but it's the biggest cash job for them, and, you know, people have written about

iphone, you know, being kind of replaceable or things like that for the last seven or eight years, but it's the innovation and slowdown for iphones, but it seems like the cadence of iphone adoption is pretty strong. i think the installed base is extremely large, right? over the last four or five years, i would say that it's a very sticky install base. it's an ecosystem where it is a high asp product, and at the same time, it provides you a lot of benefits and features, and it seems like they're continuing to, you know, adopt it. this year, we'll see how the adoption continues, and it's a combination of a few other things. >> krish, it's great to see you. thanks for joining us today and giving us the deep dive on apple. appreciate that. >> let's talk about the dow's recent push to 40,000 in the state of the markets in general.

joining us is our cnbc chief market strategist at dynasty, and mike bailey. thank you to both of you. michael farr, another michael, called today's market bubbly, but not a bubble. i guess carbonated, but not overflowing. what's your view? >> i guess that's directionally correct, you know, i think we're probably closer to a bubble now than we were i would say a year ago. the question is, will it pop? we've seen a bubble pop in late '21. everything was going up and we're seeing it move, et cetera. we have to scroll and say, what's going on right now? are there real fundamental reasons driving the market? let's go to ai. let's look at nvidia. they are generating massive growth. these are real dollars. these are -- huge companies are buying these chips. there's a whole ecosystem around it so we are seeing a lot of

dramatic growth out there. yes, that is driving earnings up. it's driving stock prices up. are we in a bubble? i don't think we're quite there yet, but i think we're definitely getting closer, and i think investors really got to be very careful about what they're buying, you know, if they've got something that's really moved up. start to think about rebalancing. >> there may be, ron, portions of the market that are in bubble territory if you want to call it, but others that are not so inflated. >> we have seen a broadening of late, and, you know, areas of the market that have been underperforming, small caps and the like, and been starting to return higher. bubble's a very specific word and it implies a lot of things including heavy euphoria. we've seen a little bit of it starting to take place now. >> certainly euphoria surrounding ai and -- people go to nvidia. that's what people talk about. it's like cmgi 25 years ago. >> cmgi had zero business being a publicly traded company. >> i understand that. these were not real --

>> it actually got sold to somebody else. >> but the stock performed as though -- the stock was the darling. >> absolutely. he was a billionaire. we sat with him at a fidelity event, and we asked him what he was going to do, and he said he was going to buy a plane. bubble's inflating and we're in the infrastructure phase of the buildup. we haven't reached the i implementation phase which will come in waves and we're talking about capital, health care, services and a wide variety of businesses. i was doing an interview yesterday at an event, and even not just the news business, but the legal business and that profession. everything's going to be touched by it. the question is how do markets respond, and when do we see the type of euphoria that we saw between 1995 all the way through 1999 into early 2000? i don't think we're quite there yet. >> no. >> it's interesting because we saw at the time in the '90s, the dot com or in the early 2000s, but if you look at history,

there was a reason for that euphoria. it may have been too compressed and too focussed in that moment, but over the long run, some of those ideas and the long-term confidence that the internet was going to change the world, empower other companies was true, and that's true of ai. what's interesting though is really old-fashioned investments. for instance, you look at commodities and what we're seeing with commodities, ron. there's opportunity in the same kinds of investments our grand parents may have made. >> yeah, and we see in agricultural, and copper and corn, and energy has moved up a bit, although it's moderated lately, and like any other environment, you know, there's usually a multiple city of choices to make when you are looking at the investment environment. the difference between, you know, as you say, the similarity with the 1990s is that roger talked about thriving off of

bubbles. it's this brand-new infrastructure, and there was a period crash where in 1999, david was talking about the terminal values. did these stocks reach their peak even before they reached their profits? some went out of business. pets.com is no longer there, but chewy is. >> yeah. >> we used up all the dark fiber we thought was going to lay for decades and instead it's now -- we don't even have enough capacity to get a new building out. >> it's interesting too, mike. we talked to the global fixed income yesterday, and he was saying that he really thinks that the rate staying high is very bad for a significant portion of the economy. it's small business owners, those who rely on community banking, that if what the fed cares about is this beautiful goldilocks scenario of a soft landing, that it's really important to navigate that interest rate not for the big banks and for the big insurers and the like, but really for the engine that powers the center of

the country. what do you think of that? >> it's a very fair point. i think as the fed thinks about every part of the economy that it touches, it's got to go big and it's got to go small for sm sure, and that trickles down to community banks. they form the fabric of these small communities so they are rel relevant. i think at this point, they're still working through these high rates and they're managing through, and we've seen definitely some big hiccups with a few companies here and there that were generally doing things a little more extreme. i think at this point, based on the track record, a lot of these community banks can make it through. if we get some surprise or a policy mistake, you know, if the fed raises rates or does something crazy, that would be a big problem. i think at this point, especially for that part of financial services, we're in pretty good shape. >> you're happy in own mcd mcdonald's, and adp processing. what do those stocks have in common? >> it goes back to the comment about being in a bubble perhaps,

you know, i think we're getting closer to one, and really it should force investors to think hard about valuation. as we look at what we own, sort of owning companies across the board is good, but i think looking at companies that are a little bit cheaper is great. so taiwan semi, you could argue this is buying nvidia without the boom and the bust. we like that. look at mcdonald's trading light compared to where it normally does, but looking pretty reasonable. some people are calling it mcmacro. some issues especially in the middle east. a lot of customers out there struggling with higher prices and some of the price increases. that's an issue. i think mcdonald's works through that, and they're gaining share outside the u.s. that's interesting. adp against trading, is a little higher valuation, but at this point, very stable business. we're in pretty good shape as far as the soft landing. oh by the way, if there is a hiccup in the economy, adp has outperformed its sector into resource sessions. there's a few good companies to own here as we debate whether

we're in a bubble or not. >> thank you very much, mike. appreciate it. ron, good to have you here. >> thank you. coming up, tonight is the deadline for congress to prevent a government shutdown. the house already voted, but it still needs to get through the senate. we'll give you the latest next. ♪♪ ♪♪ ♪♪ ♪♪ ♪♪

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and have historically low risk. call today to request your free bond guide. 1-800-217-3217. that's 1-800-217-3217. welcome back. with a shutdown looming, the pressure is on. the senate to pass the funding bill, but in the meantime, a leadership challenge is emerging in the house. emily wilkins is the latest. emily, hi. >> reporter: hi, contessa. a lot going on on capitol hill. let's start with that $1.2 t $1.2 trillion funding bill. the senate is still negotiating an agreement that will allow them to get to that vote on the bill before midnight tonight. remember if it's not a debate about what's in the bill, and we know it can pass. it's a question of shortening that process, and we're going to need all 100 senators to avoid a weekend shutdown. now over in the house, members are dealing with the fallout after that spending bill just barely passed this morning.

a majority of the republican conference voted against the bill, protesting a lack of border security measures for funding for programs that facilitate and provide abortions. now all of this would impact mike johnson's speakership. just before the vote, marjorie taylor greene took the first step to oust johnson, filing a resolution to begin the process. however, she did not take the second step which would have been actually going to the house floor and announcing her intention to offer the resolution. greene told me she doesn't have a timeline for when she's going to make that next move. it could be weeks. it could be months. she told me she wants to give her colleagues time to determine who might make a better speaker. >> i don't want to drive the house into chaos. i want our committees to continue to be able to do their work, investigations to continue, and important things to happen here in congress. i also want our conference to have the time that everyone needs to think this over and have conversations over who can

be our speaker, and who is willing to lead our republican-controlled majority in the house of representatives to actually produce and bring republican bills to the floor. >> reporter: lawmakers are going to have at least two weeks to do that. they're all going to be leaving d.c. today for the easter recess. once they get back, speaker johnson has indicated he'll be taking up supplemental funding on ukraine, israel, and taiwan. that's something in the past that congressman greene has said will trigger that motion to vacate. guys? >> okay. well, then here's the question. given what the current leadership goes through, when they take over leadership roles, who would want that job? >> contessa, it's a great question, and i asked congresswoman greene, like, do you have anyone in mind? she did not give any names and it's hard to think of who it could be. we saw so many likely candidates not be able to secure enough votes at this point. it's hard to think who else

other than johnson could do the job. another thing for a lot of members, republicans through those three weeks, they weren't able to get anything done, and they weren't able to agree. that did not look good. they don't want to be there again, especially in the months running up to an election. i think there's la lot of concen right now for how this might play out, and a lot of questions to how serious congresswoman greene is to hold everyone's agenda and go back to the drawing board for an uncertain candidate. >> do you know whether she has any support for her resolution? any others have signed onto it? >> tyler, congresswoman greene said she has support. you've also seen a number of other members voice some concerns with speaker johnson with the fact he has had to rely on democrats for vote after vote after vote because he cannot get enough republican members to support things, and the road is frankly going to get more difficult for speaker johnson. we're hearing today that congressman mike gallagher has come out and announced that he will be leaving congress on april 19th, shrinking the

republicans' majority even further and making it that much harder. remember that the spending bills might be done in the house now, but there are still other must-pass pieces of legislation when it comes to security, when it comes to piza, whit comes to the supplemental. this is stuff johnson has to get done, and now he has a smaller than ever majority in which do it. >> emily, thank you very much. we appreciate it. coming up, big ai energy. the hottest topic in tech also dominating one of the world's biggest energy conferences. our pippa stephens was all over this year's week and she'll bring us the key highlights when ow lchrern "perun" tus. rylee! from rylee's realty! hi! this listing sounds incredible. let's check it out. says here it gets plenty of light.

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wild week for treasuries and rick santelli has been covering it all week. hi, rick. >> hi, tyler. indeed a wild week and much of it started on wednesday, of course, with the fed meeting and if you realize, we sat here at 4:59, and we're down 14 pbasis o points on the week. we're down ten basis points on the week. if you look at a chart of twos and tens starting on fed day, you can see we've never moved back up towards the levels we

were at right before the treasury -- or excuse me, the fed announcement and of course, the q&a. we had some data yesterday and yields moved up. they still couldn't overtake those levels, and if you are a technician, another reason besides the potential of fed helping the markets by an ease potentially in june is the double top. if you are looking at two-year, up 472, 473. if you are looking at ten-year, 432. those are giving the push. finally, whether you look at the bank of england leaning towards an ease in june. the ecb definitely looking to ease in june. the swiss already eased and the chinese economy, well, i would say it's not in terrific shape. all that is combined to really boost the dollar. one might say we're going to ease too. there is a growing sense of the data that could push eases off the table, whether that's true

or not, only time will tell, but the dollar index is fueled in part by the relationship between center central banks committed to easing and their economies being potentially slower and their inflation outlook different than the u.s. back to you and have a great weekend. >> rick santelli, thank you. you too, sir. pippa stevens was at the conference and she's back to recap it. >> this is the most important energy conference during the year. it unites all the key stakeholders, and no surprise here, but ai was top of mind in basically every single panel, every single conversation specifically around the power demand it's going to take. now remember low growth or the, you know, the growth in demand on the grid has been essentially flat for years and years, and so these utilities plan very far in the future and not only do we have electrify occasion of everything, evs, and heat pumps, but now all of a sudden, almost

out of left field, we have a huge surge in the need from data centers. that means the conversation is increasingly becoming an all of the above energy approach and kind of this understanding that we're not going to be able to get there with renewables alone, particularly for a data center. you need 24/7 baseline power. your only green option for that is nuclear. of course, we have batteries and renewables right now, but that won't get you the entire way. >> i was going to ask you. does this mean -- is this for nuclear energy? nuclear power plants take decades to permit and build. >> yeah. so we have vogel 3 and 4 in georgia come online. that's the latest reactor, full-sized reactor, but there's a lot of buzz around smrs, those small modular reactors. those are much cheaper in terms of the capital intensity, but maybe 2029, 2030 at the earliest is when those will actually come online. in the meantime, there's a disconnect between these data center announcements and what's actually feasible right now.

is that going to slow the transition? they will become more efficient, you know, the longer they're online because this tech is always evolving, but it's a massive demand on the grid. >> pippa, thank you for bringing us that. let's get to julia boorstin. >> doctors found cancer after kate middleton underwent an abdominal surgery in january. >> this, of course, came as a huge shock, and william and i have been doing everything we can to process and manage this privately for the sake of our young family. >> the princess of wales says she's undergoing preventive chemo therapy. she asked for privacy as she completes her treatment and focuses on making a full recovery. russian state media reported explosions and a shooting near moscow. reports came in around 8:00 p.m. local time claiming several people in combat fatigues let off explosives and opened pfire at the venue.

the republican -- the house republican majority is thinning again according to two nbc news sources. wisconsin representative mike gallagher will resign from congress early. he announced last month he would not run for re-election. gallagher is the chairman of the select committee investigating the chinese communist party. tyler, back over to. >> you thanks very much. julia boorstin. life is all about perspective, and the same can be said for investing. coming p, we'll break down the trade on a single stock using three different analysis tools ow lur disposal. "perunch" will be right back as we take a deep dive on very popular stuff. at pgim, finding opportunity in fixed income today, helps secure tomorrow. our time-tested fixed income suite, backed by over 145 years of risk experience, helps investors meet their goals. pgim investments. shaping tomorrow today. ♪everything i do that's for my health is an accomplishment.♪

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options. we gathered a panel of experts. george ball, dan fitzpatrick, and mike koe are all with us. so we're going to start now with the fundamentals and george, why don't you dig down on what you see in meta and what do the fundamentals tell you? >> i hate to be the weather for forecaster who says it will rain on the family picnic three days from now, but i would be a seller of meta with at least part of my position. i would not buy this stock. i think the risk to its future earnings coming from a number of governmental and executive branch investigations is dangerous to the earnings growth in the future. secondly, although it has and is setting a great deal of money on

ai, the danger to its brands, instagram, to messenger, is too great. others say in the future, ai becomes adopted by meta. >> okay, thanks. >> so let's go to the technical take now. that stock had a breakaway back in february. dan fitzpatrick, what are the charts telling you? >> hi, contessa. well, i like -- i like meta from a technical standpoint. what was really meaningful to me was it started with this last big earnings fgap. it was a breakaway gap from 390 bucks, and the fundamentals, you guys just kind of covered that and i'm just kind of looking at what the chart is telling us. we've got a really strong uptrend, if you just extend the 50-day moving average. if you look at this chart, and you extend the 50-day moving average, i can see support all the way to 500.

the best thing for this stock would be to drip sideways a bit as opposed to just keep on going, but i look at the slopes of these moving averages kind of like the goldilocks slopes. not so steep that we're going to get a big risk or big pullback, but not so shallow to where you're not making any money. i really hlike this technically and the fact that gap held speaks volumes. this is under big institutional accumulation still, and when institutions continue to buy, the stock continues to go high. we'll put it that way. >> all right. let's move onto the options play, here, mike. >> yeah. >> you see a possible big swing post-earnings for meta. how would you play it? >> we were just talking about the possible goldilocks situation here and study as she goes, and that's really what the options market is forecasting right now between now and april

19th. the option market only implying that the stock could fall within a $30 band between now and then. if you look one week further out to the 26th expiration, you're looking at a possible move of about $60 and there's a good reason for that. this is a stock that has moved double digits, 5 of the last 8 reported quarters. most of those have been higher of late. this is a stock that if you own it, you can consider selling it until that 19th expiration, but after, that i would be cautious going into earnings. >> you have a lot of expertise among you. we want to get your trades based on your own investment school of thought. so back to the fundamentals now and beyond meta. george, talk about your fundamentals pick in the housing space. >> i think that the homebuilders are very attractively positioned. new houses are very cheaped compared to used houses. there's actually a 16% greater

value if you buy a new house than an old house. the homebuilders are still cheap. t it's in the expensive stock, $81 a share, but statistically quite an expensive 16 times earnings, and for the homebuilding stocks over the next two or three years, it's really remarkably good. >> even nvr at that hefty price? >> yes. >> simple answer. >> let's move onto your technical pick. it's crypto-adjacent. >> yeah. i really like coinbase. i consider myself a late adopter for crypto, but i really like it and coinbase from a technical standpoint is really solid, like, from the get-go, from when it was initially offered. it lost 92% of its market cap. i mean, it was a huge loss right

along with the bubble popping in bitcoin, but since that time, it has reversed into a real, real clear inverse head and shoulder pattern, and that neckline was a huge breakout area, and since that time, the stock has just continued to move higher. i look at it as probably even running up to 430 bucks which was the ipo high. it's kind of like meta, a pretty good slope. here i'm showing you the weekly chart and it's the 40-week or the 200-day moving average. we can see this stock even pull back a bit. i would love it frankly if it pulled back to around 200 bucks so i could buy some more, but if you just look at the zigzags on that chart, they're higher highs, higher lows, but i would not be buying it right here. i would want to be patient and wait for a bit of a pullback. >> up 233% one year.

262%, six months. you think the momentum is built in here. >> love it. yeah, i do, and i'll tell you why. i know we're not going to get into the guts of bitcoin, but bitcoin is really approaching this having event now where the supply is really going to be constrained more just because the reward for solving these blocks and all that is going down, and so what's happening is with the advent of these bitcoin etfs, we're getting much more demand, institutional demand for bitcoin, and because of that, think about this, tyler. it's causing a feedback loop. much more demand, constrained, defined supply, unlike the dollar at $21 million, and that's creating an upward lift of bitcoin. >> mm-hmm. >> now everyone's looking for alpha. bitcoin/crypto was the top performing asset class over the last ten years, five years, three years.

you name it, and so people are getting more and more interested in this. they're going to be coming in and buying it which is also then going to cause demand to increase on a constrained supply, and so what's going to happen is at least in my view, and what the charts are telling us is, as the price goes higher, it kind of brings in a little bit of that fomo which is going to push the price even higher and that's where coinbase benefit. >> your options pick came after the fed decision this week. what is it? >> yeah. i mean, right after the fed decision, we saw options premiums which were already very low, get even lower. so i think one of the things you could definitely take a look at, the s&p is up more than 10% year to date. options are extremely cheap. you can buy a hedge against your portfolio. for example, the april 500 strike, that was about $1.50 when i was looking at it.

that's about 30 base points off the current price and that kicks in, just over 4% to the downside and it captures the next two pce releases which as we know, the thing the fed likes to look at most when they're concerned about inflation, and this could be a good way to protect the downside in case there's a disappointment. >> we have george ball and dan fitzpatrick with mike koe. appreciate all of you. coming up, talking about a big screen debut. live coverage of the olympics' opening ceremony, and it will go up on more than 150 imax screens this summer. that's a party. we'll talk to the imax ceo about that and much more when we return.

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things can transform. slipping out of balance into freefall. (the stock market is now down 23%). this is happening people. where there are so few certainties... (laughing) look around you. you deserve to know. as we navigate a future unknown. i'm glad i found stability amidst it all. gold. standing the test of time. welcome back. we're just about four months away from the start of the summer olympics in paris. thanks to imax, you'll be able to catch the opening ceremonies on all- -- july 26th in imax

theaters nationwide. it's the first time it will be presented in imax. we have the ceo of imax. so if people buy a ticket, richard, for the opening ceremonies that they could see on nbc sitting in their living rooms, they're going to buy a ticket on a friday afternoon in the summertime. what's the draw for customers? >> well, imax does an incredibly dispro disproportionate share of the domestic and international global marketplace. whether you could see it on tv or whether you could go there because the reason is the experience is so special, and the imax platform is really known as a place to go for real events and to experience things. so during the pandemic, a lot of -- a lot of films were

streamed for free in the home, but yet imax did a lot of business. people wanted to go see it. it's a culturally, larger than life, experiential medium. in the past, whether it was movies shot from outer space, or documents on mt. everest, or "oppemheimer las" last year, or "dune" this year, people gravitate to imarx, and we feel the olympics will be incredibly special. 400 boats over 4 miles going through paris on the seine. >> it's an incredibly immersive experience, and boy, who doesn't love paris, and who doesn't love imax for that matter? but i have to ask you. s. not like looking at a feature film where i can choose when i

go. if i really want to see it, i have to make an appointment to go there at 1:00 on a specified day and pay to go see an event, and that's -- that feels to me like a big ask. let me ask you -- by the way, what's the price on the tickets? >> it'll be the typical imax ticket price which is -- it depends on the market, but somewhere between $10 and $20, depending on the market. >> and will it be shot on imax cameras? because i know there's been a lot of focus on, for instance, "dune ii" being shot almost entirely in imax, when yo -- which makes a difference. will we get that for the opening ceremony? >> the tactical details are to be ironed out, but the point is it's a cultural moment and experience. yes, you could sit at home and watch it, but my answer to that would be, if you went to a

baseball game -- why go to a baseball game? you've got to schedule that. you've got to go to the game. why why would you do that? because it's a cultural moment and experience and it'll look way better in imax than it does on your computer screen or television and you'll be there with lots of other people and it's a once-in-a-lifetime unique thing and that's what imax does best and that's what people go to, and i could give you all kinds of examples. i think they're going to gravitate to it. >> can we talk a little bit about what taylor swift has done to the future of movies? i mean, with the -- i know we have been talking about it for, it feels like a year, but when you are talking about ticket prices going up, and you're talking about investment in experiences, the fact that this -- her concert movie has done so incredibly well. do you think that for imax and maybe for other movie theaters as well, but for your company, that these sort of iconic entertainment moments that

people want to be in an audience and share with other people, is that the future? >> well, it's not all of the future, but i think it could be part of the future. i think as i was saying, imax is a content platform that enables you to experience something in a way you otherwise couldn't do. even this year, we released a queen concert from 40 years ago. we remastered it and put it in imax, and we did $5 million over just a few days in re-releasing that, and as a matter of fact, we'll be announcing a couple of other things soon. i think definitely alternative content is part of the future. i mean, and the taylor swift concert wasn't only in the u.s. remember, we w're in 90 countri and i think that's part of what made it special. they couldn't go to the concert. they couldn't see her, which is by the way back to the analogy about the olympics. how many people could really go to the olympics in the united

states in paris? they can't. so yes, you could get, like, a different quality of experience at home and for most people, that'll be interesting, but if you really want to see it really special and feel like you're there, and we also did a heads recently, we did an -- but i do think it is part of it. >> there is a prospect of the sphere in las vegas, which is now taking experiences and putting it on steroids, does that up the ante for a company like imax? >> i think, in a way, it ups the ante, but in a good way. because we're so far ahead of what anyone else is doing in out of home entertainment, and you know, for example, if you look at our revenues last year, they were close to 2019, where as the movie industry in general was down about 20%. people want, and they crave something really special.

and i think the sphere is amazing. but there's only one sphere. and i went there, it cost, you know, $500 to go there, and imaxs are all over the world, so i think it will teach people to seek out better experiences, and i think imax is the one that fills that void right now. >> it is so great of you to join us and talk about the olympics coming up, and of course, our parent company, nbc universal is very instrumental in bringing that to the audience here in the united states. richard gelfont, thank you very much for joining us today. as we head to a break, we will celebrate women's heritage month. we are doing it all month long. sharing stories of cnbc change makers. here is laura, ceo and co-founder. >> in the very definition of change, it is to be different. i've embraced what it means to be a different leader, and as a female and a predominantly male

space, i've had to see that as the potential legacy that i get to leave, to change an industry and a culture. for bobbie, that means so much more than powdered milk, to fundenllchgeheamtay an t face of what it means to be a parent in the u.s. today.

time now for a quick, and i do mean power check on the positive side of the s&p, fedex beating on earnings thanks to fewer expenses, narrowing its profit forecast. on the negative side, lululemon part of yesterday's bull fight, weak guidance there, pointing to a slowdown in north america, and that, folks, sur power check. lululemon down 15%. we'll be right back on "power lunch."

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brief in federal court in massachusetts last night accusing draftkings of character assassination, and targeting hermalyn in an attempt to scare other workers considering jumping ship. they say there is a culture of retaliation. well, fanatics says since it announced in 2021 it was t-would launch a sports book, 186 draftkings employees have applied for jobs with them. the industry is competitive. gamblers are promiscuous, and they chase promotions and odds. the most lucrative players, the v.i.p.s, get special treatment because they're trying to engender royalty to the sports book. fanatics is a new comer to sports betting but backed bay customer database of 100 million people. in the industry, it is largely seen as a formidable potential competitor and draftkings is arguing in court that fanatics is just trying to clone its business, its v.i.p. business, especially which draftkings vehemently denies now. >> >> how big is fanatics as a

gambling presence? >> it has started to operate in a handle of states but they think when they get licensing, they will be able to win over the customers they already have to the sports book. >> very interesting. all right, good story. >> thanks. >> i love the word promiscuous. >> thanks, everybody, for watching "power lunch." we hope you have a good weekend. "closing bell" starts right now. of hello, i'm mike santoli in for scott wapner. stocks with a winning week this month and what would be a fifth straight monthly gain if it lasts through next week with all of the bull market drivers engaged of the s&p 500 on a flat line but that sits on a 2.4% gain week to date. big neck reasserting leadership behind nvidia. the s&p 500's largest upside contributor both today and this week, after the splashy developers conference. the stock up almost 3% today. healthy economic readings an