joining me now, head of internet research, mark mahaney. a long time. you've got an outperform rating and a $710 price target, it's at $649.if 20 the right now. will season two be as a big as a season one? >> well, i guess i don't know, but i am struck by thinking about the stock. you know, when you looked at a the stock price chart, the peak of netflix was i think 678 in no of 2021 because of squid game. so, you know, it's reasonable to assume that the market's going to anticipate it's going to be as big. i don't know whether it will be or not. that sometimes happens with the sequels. i think it's also just a remind her of the hit factory or the hit power of netflix. nobody knew about a squid games when it came out, neither did they know about birdbox before there or you had a couple of other very popular shows. and then, of course, you mentioned@coming the out the day after christmas, and christmas is going to be something of a blow blowout for netflix because 30 million of us are probably going to be watching our nfl games on netflix tha

mark mahaney joins us this morning. first of all, mark, i'd like you to look at amazon. went wrong? 9%. i think you're still recommending it as a buy. >> i still am, $225 the is the price target. let's see, two things went wrong. one is margins didn't rise. the profit levels weren't as high as people wanted, and secondly, the retail revenue growth came in a little bit weaker than expected. the company called out some consumer softness. their point is that consumers remain what what soft for the last year. it didn't get more soft, it was just people are more value conscious. those are the two incremental surprise, and the bar was high here on amazon. that's all right. i still like the stock. we had acceleration in the cloud revenue growth at aws, margins did rise on a year-over-year basis is ors just not as much as people wanted, but i think they're going to continue to rise. i think three months from now the narrative will change and poem will become more positive. anyway, we're sticking with it. stuart: okay. the big story of the morning to my mind in finance is sharply

mark mahaney, thanks very much, indeed. s it is precisely 9:9 30 eastern time. k and away we go. trading has a begun. we're expecting a move to the upside for the dow industrials, we're up 178 in the very early going, and the vast majority of all the dow 30 stocks, they are in the green. it's a rally for the dow in the very early going. the s&p 500 also on the upside to the tune of .6%. not a bad gain, 34 points higher. as for the nasdaq, i'm looking for a strong gain there as well, up .88%, 17,773 on the nasdaq composite. you've got to show me big tech. i presume they're all higher this morning. yes, they are. alphabet, amazon, meta, apple, microsoft all on the upside. let's go to nvidia. the ceo has been selling $14 million worth of stock every day for the last few months. why east he doing that? lauren: not sure. stuart: he's got it, he can do it. lauren: it add as up to more than a quarter billion dollars. it's all perfectly legal, it is the all december closed. jensen huang is worth $11 1 1111 being, so what's -- 111 billion, so what do you know about nvidi

thanks very much, mark mahaney, on a friday morning. we'll see you again real soon, i cohope.on here. we had a huge rally yesterday. are we just going to go down again this morning just as we have for the past week, up and down and up and down? if is that going to happen again? we're off and running. they press the button, and we start with a loss for the dow industrials down about 30 points. that's hardly a loss, that's flat to slightly lower, call it that. but there are more sellers than buyers for the cow 30. most of the -- dow 30. most of the stocks are in the red. that's the s&p 500, please, where's that going this morning? i know it's down but by how much? if a fraction lower, .11. the nasdaq composite, down how much? down .11. that is not much of a selloff after yesterday's 3% gain. we'll watch this throughout the day. have a look at big tech. a mixed picture as we start out this morning. amazon and microsoft are up, meta, apple, alphabet down. we better take a look at nvidia. i believe it's moving up again this morning. let's see, have a look at it, just a little bit.

for more, i'm joined by mark mahaney, senior managing director and head of internet research at evercoresn't it? i think one of the steepest sale of with earnings and because of their outfit. you mentioned there may be a second, which they talked about that relies on marketing spend. under pressure, but they indicated especially with the paris olympics inaudible three months ago and now they are saying it will silence make a turn interaction for wall street to the negative stocks.- interaction for wall street to the negative stocks. which is an interesting _ the negative stocks. which is an interesting outlook - the negative stocks. which is an interesting outlook and i the negative stocks. which is an interesting outlook and a l an interesting outlook and a worrying outflow given the week we have had forfinancial markets where that was partly fuelled by earnings from other companies warning about the rest of this year in the us. i think it is a very mixed bag. early in the days you had uber report numbers and they have a pretty large foot print in terms of ability and delivery. they had

let's bring in mark mahaney from evercore, has a buy rating on meta, amazon, and alphabet. have been doing this a long time. you know, weeks like this, they come and go, but i'm always curious to what kind of questions you're getting, particularly we're after earnings season for all these big names from your clients. what's the conversation been like this week if there's any one or two key questions? what have they been, and what's your answer been? >> well, which of these stocks is most dislocated, and which stock has the biggest, most interesting catalyst up ahead of it? those are the two biggest questions. i continue to like all three of these names. i don't want to be overly bullish, and i look to see which is most dislocated and in my mind, that's probably amazon and then google. meta had phenomenal results, stock traded up, nothing to worry about there, which means it's probably less interesting, compelling, whereas with amazon, there was a fair amount of debate, what happened to our margin expansion and why were retail sales a little bit soft and why didn't advertisi

mark mahaney is with us this morning. you moved some stocks into your top picks list.u see them going to 225? >> yeah. we bumped up amazon to our top pick. this stock sold off on the last quarter, expectations have, therefore, come down a little bit. some concerns over margins and revenue growth strength and advertising revenue growth strength, and we think those fears are probably a little bit overstated, misplaced. so, yeah, amazon, one of the highest quality names we cover, and when we get those dislocation understoods, they generally rise in our hit list. stuart: i always think of amazon as a retailer. are they getting a bit of a bump-up because the classic retailers, walmart, a target, they're doing so well? >> well, i think walmart gave us a pretty good data point yesterday. it's not like the u.s. consumer is swimming, but the u.s. consumer is trending pretty well. i'm not sure i get that analogy right, stu, but the read-through from one of the largest retailers, and look at amazon's results as well. they've talked about a softness with the american consumer, but

internet stock guru mark mahaney aveva core isi is going to teach us how to calculate our oai return on a.i. investments. in a huge weakened retail earnings, home depot before the bell, walmart thursday, sw retail advisor stacey widlitz knows all about these names, she's getting give us her topics in the area. we're coming right back, the dow down 180-point, we will see you in just a minute. ...to free birds. vanguard personal advisor can help you prepare for every chapter. we got this. that's the value of ownership. maya knows how quality care can bring out a smile. but it's been a few dog years since she was able to enjoy a smile of her own. good thing aspen dental offers affordable, complete care all in one place. with flexible hours and weekend appointments. plus 20% off treatment plans for everyone. loving our patients unconditionally. it's one more way aspen dental is in your corner. there are many ways to deliver a shipment. at old dominion freight line, we deliver them this way. this way uses technology and goes the extra mile to do things the right way. the delivering promis

joining us now with more, mark mahaney, head of internet research. of the second quarter. i guess the first thing we can say is the internet is more important than a fax machine. what year was that? i don't remember what year that was. >> i don't remember either, but that sounds like an actual true statement. >> after this earnings report, i think we can put that to bed once and for all. it has been a big trend, the internet in all of our lives. you are making some moves. is there some overall change in your view on the whole sector after the second quarter results? >> yeah, let me try this. i had two takeaways. the more is do we get more soft or hard landing data points, and looking at the whole swath of names in there, and i think they more guided you towards a soft landing than hard landing and there were issues in some of the travel names in particular, and most had fundamentals that materially improved like netflix and spotify. i thought the takeaway was more soft landing than hard landing. and the second point is anybody showing a return on the