sales force has either got to acquire, match or just keep up with them. >> it's somewhere in between kind of the disrupter and the incumbent in a lot of these areas. i do think it's going to be -- you know, it's been a consolidator and it will continue to be i think basically they've got this head start in the area where the growth is. versus, you know, the real big old tech guys. >> yeah, it was still up better than 1% today, as you mentioned. that does it for "closing bell" today. "fast money" begins now. live from the nasdaq market site overlooking new york times square i'm scott wapner in tonight for melissa lee. our traders on the desk. tonight on "fast" check out shares of sales force, initially sinking after hours. now, though, trying to make a climb back the ceo just sat down with jim cramer you just heard his comments. there's something else he said that might have you giving that stock a second look. plus, it's the one stock that pete has held longer than any other in his portfolio

and he just bought more today. he's going to give us the name and, chances are, you might own it too and black rocks terry sims son said the trump trade is on, quote, life support. so what does that mean for the rally? but first, we start with what seems to be the magic words for this market, tax cuts. every time someone from the trump administration utters those words and recommits themselves to be the agenda, the market takes off after paul ryan said the party is unified on tax reform during a town hall last night the dow having its best day since april. soaring nearly 200 points. as the markets soar, the volatility index sank. the question is tonight, do you continue to buy stocks on hopes of tax reform and how much higher can this market go? guy -- >> great to have you on board. >> maybe what everybody was thinking about in the past. >> what's the question we're going to attempt to answer

my answer would be yes we've been pretty steadfast in that belief. brian kelly about a week ago at the height of the uncertainty the market was facing said this uncertainty probably helps president trump push this tax reform regulation reform through. his theory being this is a man in dire need of a win. i'm not certain it's going to happen but that appears to be what's going on. i'll say this, we've been pretty adamant about this as well we said 24.10 in the s&p has to hold we said the dax needs to hold 12,000 look where it traded down to look at the bounce there if you're a technician which i don't fashion myself to be but if you are one, this market did everything it needed to be on the downside it feels like the next leg higher is upon us. >> growing talk, the market's timed for a correction, market's tired, market needs to reset market could go down 5%, could go down 10%. all it takes is two words, "tax cuts," that's all in the past?

>> last week was a volatile week on knowledmany sides at the end of the day, investors got a little turned around here. i think today's reality, really light volume i don't think there was much other than wish tasking. a lot of this tax reform talk. at the end of the day, i don't believe whatever guy just quoted about b.q. lak. l.a. weekast we think there will be meaningful tax reform. >> even though the fundamental story's in place, you don't like -- >> well, fundamental story, i think the market's fine, okay if that's what your thing is. i don't think there's a lot built in for tax reform. i think there may be some anticipation about tax cuts or some sort of repatriation. >> the market today essentially told you -- >> even pattern -- >> all of a sudden you say that, well, it depends what you get. go back to '04, look at repatriation a few hundred million dollars were brought back. much of it went to shareholders.

which is bullish but if you're looking for a tax cut or amnesty because you think it's going to instill growth, you know what microsoft did, they actually paid a $32 billion special dividend in 2004 and initiated their first buyback ever of $30 billion. that's what a lot of other companies did. i suspect them to do that too if they get that in 2017. i do not expect any tax reform in 2017. i don't think that this thing gets through the reconciliation process it doesn't get through this narrow majority the republicans have just like health care. >> the fundamental underpins of the rally are still intact, are they not economy grow, ratings low, earnings good. >> yes. >> you know, regulatory environment that's improved. i do think today was a combination of last night being a relatively uneventful evening for the president. so that is a big uptick from prior events and then i also think some tax reform i do think, though, that the scale of it is getting smaller and smaller as the administration feels like we need a win almost at any price,

you know -- >> doesn't even matter -- >> right. >> does the size even matter >> to your point on the repatriation, i don't think they care whether the money is used for growth or they can just fill the coffers with an enormous, however much, $2 million, $3 million, of repatriated money, that's a win for them, they'll take it. >> pete, where are we? where are we now we've had these couple of days. yesterday the narrative was the market was on pace for its worst month of the year. today, a 200-point rally for the do and tax cuts. and trump agenda which was allegedly d.o.a. for 2017. >> right, and just the talk about that, and we've heard steve mnuchin, he talked about august being the time we'll see this obviously, that gets pushed out. the facts and fundamental story continues. the volatility these swings, it's amazing we get up to 16, we pull right back we were down 7.5% on the volatility index yesterday down 14% today

volatility comes out extremely fast in this situation there has been vol ooum. maybe not as much today. you look over last couple of -- call it five, six trading day, multiple days where we traded over 1 million contracts in the delive tents world so we're seeing growth there bets today, it was in semi, technology, financials across the board, a lot of different strengths. it's much more broad than i think it was painted a lot of the day. >> today, up 1%. last week, we only had our second 1% down day of the year i think a pickup on volatility on both sides is not exactly bullish when we're only 2% from the a the all-time high. a whole bunch of wish casting. these guys need to sound enth e enthusiast enthusiastic they moved the goal post on numerous occasions. >> maybe that's enough maybe moving those is just enough you can see what the market did today. >> not in 2017 -- or 2018, because then you have a very unpopular president, okay, we have a midterm election year and

they have nothing to point to with the super majority in the house and the senate and in the white house. so to me -- >> but you're blaming it all back to just political your whole thesis right now -- >> that's what we talked about. >> i don't know that we are. i think we talked about the potential for some of these tax cuts and then the actual story of what's got growth and what doesn't. >> let's see how the budget thing goes next month, okay. there's a lot of stuff that has to happen here for this thing to stay intact. what do you think the market's going to do if we have a shutdown in the government we've seen that before it may not be as bad as it was in 2011. >> just like brexit, everybody panicked the panic pushed that market down -- >> we're up 100% since the last government shutdown. 100%, okay so we're at a situation here -- >> so the people who have been bearish have missed 100% rallies? >> no one's missed it. >> really? now, that's unrealistic, i would say. >> really? okay so fangs had a nice rebound today. played maybe the largest role in

taking us to where we were a reboot for the fangs has to be positive for the overall market, no the question is, does it last? >> we talked about it last night. you were not hosting last night. it was one brian sullivan, large marngs good-looking, like yourself but one of the stocks we mentioned at the top of the show was google, now called alphabet. we said specifically alphabet traded down to a level it had previously held about a month and a half or so ago 920 being that level we talked about it on valuation being still in my opinion, i think karen and pete's as well, maybe dan, still relatively inexpensive. yes, i think they'll be a rebound there. out of all of them, netflix continues to be my favorite. >> how about the big bounce in some of the other names we don't talk about as much something like boeing today leading this market, up $4 there are so many massive moves that are outside of fang, outside of all the names >> boeing is the king of the dow. >> the absolute king even a recent rally out of home depot that was getting pushed, pushed push eed pushed, the amat and everything else.

the housing trade is not dead. >> it's interesting, the "new york times" has a story up right now that says the relationship -- this goes into our conversation about the -- how realistic tax reform, tax cuts or any sort of tax policy is the relationship between president trump and mitch mcconnell has disintegrated according to "the new york times" to the point that they're not even on speaking terms does that speak to the current political environment being difficult to the point where it's going to be hard to get things done even as politico and their story today said they were making progress would set the market off in a fast fire? >> the idea of progress -- go ahead. >> well, no, we've seen him pick people in his administration and have twitter wars with them and then it fades, they're no longer the target i would think that mcconnell will not be the target a week from now >> point is, jeff sessions -- judge you need the senate majority leader -- >> i think you do. >> he went after that -- he went after that, after him in a very mean-spirited way for weeks.

then jeff sessions all of a sudden has this press conference and then he gets on, reengages and gets on board. i think the staple thing could happen with mitch mcconnell. >> very different with a cabinet member and a guy who has a conference that is so divided. that's the biggest issue you have a republican senate that cannot agree. all the issues that killed health care are the things that are going to kill tax reform because you have this group on the right that needed to be deficit neutral. you have this moderate group in the republicans. you know, who are going to -- really can't handle the stuff that makes it deficit neutral before an election year. i don't think it's a great analogy, guys, sorry, about sessions -- >> twice tonight you've got -- >> i think ryan and mcconnell are beleaguered. >> he's a little bit feisty, boy. >> don't you think it's easier to go back to constituents with a tax cut then "i take away your insurance" >> no. >> really? >> let's look at this article. >> wrap it up. >> what they're talking about, guys, is they're talking about

taxing 401k investments. they're talking about capping your mortgage deduction. they're talking about things that are not exactly cohesive with a middle class tax cut for all intents and purposes to me it goes back to getting a tax break for these super wealthy people who fly on those fancy planes with their tom ford and all that other crap. to me, they've been sold a bill of goods, this thing is not going to happen. >> our next guest says tax reform is key but he's not betting on it any time soon. terry simpson is the multia set strategist at black rock investment you listened to the conversation just sort of lend your voice to this debate as to how the market needs this to keep going higher. >> yes, it's interesting obviously, it would be a nice bonus. i think we step back and look at the fundamentals that's kind of what's really been driving the market. when we think about the tax reform, the calculus is just so difficult. we talk a lot about basically the political fighting and the rhetoric down in washington.

but the reality is, no one has talked about it, showed a plan how they're going to raise revenue to fund this tax cut everyone loves s a tax cut. but it's difficult to think about how you actually fund it. >> how much does the market need it >> so -- >> i mean, we made the case that the fundamentals are good enough that the cake is already good,c cake today, the market suggests in order to have the next catalyst to take the leg higher, you need something concrete to come out from that side two word, tax cuts set the dow off running today. >> yes, we know we're about 8 1/2 years in the bull market we're basically trying to think about how do we propel ourselves going forward, how do we keep that stimulus. what we think about in this tax reform is about trying to shift the potential gdp of the united states economy now, u.s. gdp is only about one and a quarter.

it makes it easier for businesses to cooperate across the united states and do business than across the globe that can be actually very beneficial we could see higher gdp going forward that could go back to the companies and have some upside there. >> do you think the market needs to take a rest, the rally needs a rest or do you think it's potentially worn down and run down to the point where it gets sick and needs some sort of correction to weed a bunch of things out >> i don't think we need a correction just to weed things out. i think the fundamentals are strong enough. i think what we wit ntdzed has basically been about geopolitical unrest. obviously we have some elections coming i and the biggest issue is north korea when you think about geopolitical risk, it's not enough to shock the markets, it's about the extension of the geopolitical risk. if that persists for a long time, then we could see a pullback i would say we're looking with the rally today 1.5% off all-time highs that's not a correction people

should be getting worried about. where do you think you would want to be invested in the market >> so, we still have equities relative to fixed income we still like tech, financials and select parts of health care. we talked a little bit -- i heard you talking about repat tr repatriation if you expect that to happen, it's going to benefit technology sectors, going to benefit big pharma as well that's where a majority of the money is sitting overseas, in those sectors. >> when we talk about what's priced in for tax reform, i would say those name, microsoft, google, apple, they have over a half a trillion dollars overseas you bring that back here, you know, and so what are they going to do? make big acquisitions? probably not they probably do what we expect. i bet you see facebook -- you don't start buying back their own shares this is what apple has bought $160 billion of their own shares back so there's a lot of stuff that they're going to do that may not instill growth. >> do you think those are

one-time events people have now learned from where you have the major dividend, rather than adding to the dividend >> my point is those five nasdaq names. >> right. >> i think they are anticipating some form of tax reform whereas the rest of the market may be not. built into it. when you know apple has $260 billion in cash, net $160 billion, that gives you confidence in the name you know what, you couldn't give it away when it was below $100 trading near ten times last year but now as we have tax reform on -- you know -- >> do you think it's all tax reform, it has nothing to do with services and all the other aspects -- >> i think it has to do with a lot of things -- >> no, but you painted a picture just now -- >> why are those six stocks outperforming it so dramatically >> take a look at these various chip names those are up even greater than some of these fang names you're referring to and apple,

microsoft, some of those names huge those have had massive moves but they don't get as much attention because the market caps aren't quite as -- >> terry, last word. >> coming back to the fundamental, probably some of the market is baking in tax reform we had double digit earnings growth last quarter. it's not just financial engineering on the bottom line we also had 8% sales growth. so also on the top line. you can't discount the fact that the fundamentals are very, very strong. >> thanks for being here appreciate it. >> i don't know why we have your chair so low, sorry. >> i don't know either felt very low today. >> all right, coming up, the "l.a. times" picking media veteran ross levenson to navigate the newspaper in the new age of journalism. i spoke to him earlier today we're going to bring you his comments that had everyone talking today. plus, snap making a bit of a comeback and starting to look a bit like another social giant. facebook we have those details. and later, pete nagarian getting really for a very special fast

pitch. he'll make the case for a stock that he's owned for more than 20 years. more "fast money" after this

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money. newspaper giant tronc surging today after it named levenson to head "the new york times." newspaper stocks have been on a tear since the election, even as president trump has targeted a number of these names, calling them fake news and otherwise but mr. levenson sees a bright future for the space he joined "halftime report" earlier today. >> in the entertainment world, it should be the bible, it should be the paper, and media company of record. i actually think we have to get away from the term "newspaper. this is an incredible journalistic operation and it's an incredible media company. and i think we have to, you know, put our focus on doing great work and getting it out in an aggressive manner >> all right, new publisher and ceo of the "l.a. times" ross levenson there earlier what do you think, i mean, that stock was up 4.5% i think during our interview. >> probably rightly so it probably gets more of a multimedia feel than they currently have which is probably

extraordinarily important. you mentioned it you sort of danced around it "new york times" was, i believe, an $11 stock when president trump was president-elect trump back in november that stock recently traded north of $19 i mentioned that because all of these names have been on a roll. now you ask, is valuation starting to get in the way given their growth, at least current growth, i'd say it is. if you enjoyed this move, i think it's time to take money off the table. >> that's a great hire for trump. his name was kicked around in so many places. >> i don't know if this is the place. >> there's low expectations to turn things around you look at what he said, the success of "the new york times." to me, expectations are low and that's an interesting setup. >> knows digital media as well as anybody as he helps to make

the transformation there what do you like about the stocks >> they're not really for me the balance sheets have been dramatically improved. when carlos slim had to come in and save the day but still, i would rather be in online advertising like alphabet by a lot >> all right still ahead, check out shares of sales force tonight, lower in the after hours. the ceo just spoke to jim crame moments ago and his comments might have you buying the stock. in the meantime, here's what else is coming up. >> a million dollars isn't cool. you know what's cool >> snap shares because they're surging. and they're starting to look a lot like, well, facebook we'll explain. plus, pete is bringing the heat. pitching us on the one stock he's owned longer than any other and he just ugboht more. the name when "fast money" returns.

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welcome back to "fast money. we're live tonight at the nasdaq market site. the s&p and nasdaq rally 1% while the dow closed up more than 195 points. best day since april here's what's coming up in the second half of the show tonight. sales force down around 1% after its earnings report. cnbc's jim cramer just sat down with the ceo and he threw a little shade at a rival, cloud stock. we're going to bring you those comments plus, it is best performing dow stock this month, surging more than 7%. our very own pete is piling into the name what is it find out when he delivers his fast pitch but first, snap staging a comeback in the last week. up more than 27% from its lows just last monday now that bounce may remind you of another big ipo from years ago. at the new york stock exchange for us tonight to break it all

down, bob. >> hello, scotty i'm thinking of a social media stock that slid double digits five months out from its ipo wall street had cast aexpressions on aexpressio s aspersions on it, had cast doubts about its ceo that stock was facebook. facebook was down 50% and lost $43 billion in market cap over that period. that was more than half of its total market cap at that time. sound familiar now take a look at shares of snap the stock went public in march and five months after the ipo, the stock is down 32%. snap's lost 12 million in market cap since the close of its i po and that means roughly 2% of its total market value since it first started trading. snap and facebook have had very similar trajectories in their first five months of trading largely down the event the two stocks have in common is that lockup expiration we often talk about. face book had a lockup expiration after five months another one, by the way, after

six months snap also had a lock yup inspiration at five months sell blocks of stock on those dates. prices often decline going into those lockups. so that's not unusual. facebook was able to right the ship and surge more than 800% off those lows anytime 2012. some investors are starting to ask if a similar comeback is in the cards for snap since august 11th when snap hit an all-time low on earnings. the stock has rallied 18%. could snap finally have its moment in the sun like facebook did? maybe. by the way, there is no inexorable rule a stock should fall going into a lockup period. sometimes there's only a small amount of trading. sometimes it is arbitrage. and sometimes the company just has a better story that's exactly what happened to shake shack after a brief drop it rose going into its six month lockup period because investors liked the story and they had a great earnings report and that's the key there. >> all right, bob, thanks so

much so, is this the start of snap having a facebook moment takers dan? >> ah -- >> well, i'll take -- >> well, to me, okay, it's one data point i think to try to make the biggest, biggest difference is when facebook came out and had their troubles at the beginning, they did not have a gigantic facebook competitor that was just ready to gobble them up they didn't have that. that was different. >> the user growth -- the user growth also wasn't slowing into the ipo like snaps >> well, actually, facebook's desk top was that was the reason that caused the drop initially but here's the biggest difference when facebook went public in 2012 -- >> it's a sensitive topic. if facebook didn't have the ipo issues it had, it may not have dropped to the magnitude anywhere close to what it did. >> the year it went public had $5 billion in public and was

actually break-even on a gap basis. snap just turned on their revenue engine last year if they could ever show a path to profitability, actually monetizing the users that they have without demonstrating the sort of growth that facebook had in '12, '13, that sort of thing, then snap works. i bought some the day after it reported, a week and a half ago. i think you probably have a squeeze back over to 17 in the next couple of months. >> i think the biggest problem i'm with you, no is the answer to the initial question. when you look at the ax acceleration of instagram and look at snap, it's not even close. intergram's not facebook they own it. it took them from 100 million, it took 26 months, 23 month, something like that. now that acceleration is really starting to pick up. then it was nine months. then six months. now down to four months for the next all the way up to 700 million users. meanwhile, snap is still sort of just kind of moving along. >> you guys are telling me this

report out today that teen usage of facebook is going down -- >> they were very, very specific then to a very small group -- >> teens that's who uses snap >> right, right. >> what do you mean? that's their core audience. >> a very small subset the growth of instagram is dwarfing -- >> hold on, hold on -- >> let's say, okay -- >> that's not an opportunity for snap >> that snap also isn't facing the same head winds? >> guy, guys, guy, guys, let me just step in here for a second, straighten this out. >> i'm sure you got it covered >> last year, they started this copycat version of snapchat and had amazing growth they did halt snapchat's growth. what are some of the stories that have come out in the last weeks? discover thing these teen this is how they're getting their news you can monetize through this devi device, keep it sticky rather than just photo messaging and that sort of thing i don't think it makes a whole

lot of sense to get too in the story, instagram, instagram, instagram. i know this, teenager, they're not on facebook. they're on instagram they're using snap for different reasons. if it becomes their primary way to communicate, the primary way to get news, it's going to be something that they grow with, that they graduate with. and they may never be on facebook to me, that is a blind spot for facebook. >> all right, our next guest is not betting on a long-term turnaround for snap. he is the ceo of captivate, an analytics firm that specializes in social media, join us tonight from l.a welcome. >> thank you >> why aren't you betting on a turnaround for snap? >> i think it's very different from when you look at when facebook first went public they weren't dealing with the competitive issue. they were dealing with technology, desk top to mobile space and figure out modernization. snap, there's instagram stories that they're facing, you know, very tough competition against and i think they're, you know, with a lot of content and

content becoming more and more important. you see these content deals coming up. i think that's a step in the right direction but i think there's a lot more that needs to be built around that for them to continue to succeed. >> what of this issue today we were discussing, this new report, of teen usage of facebook trailing off a bit? isn't that an opportunity for snap even if some of that usage goes to instagram >> i definitely think it is an opportunity for snap the usage among instagram stories with that teen audience is surging even faster i think one of the areas where snap could help bolster their -- bolster their audience and user growth is by focusing on content creators if you're looking at big publishers and bringing in their content, why not look at content creators because they drive all the engagement from that teen audience that's how youtube built their community. that's how facebook and instagram have really built their tools. so, you know, going after content creators can be extremely powerful for snap.

>> so to play devil's advocate, you've seen we're through the lockup period, seemingly unscathed. is there potential, to dan's earlier point, that this stock has a meaningful rally before you see the declines i think karen and pete are looking for when i say meaningful, anywhere from 15% to 30%. >> i think there's a chance for it to rally pretty significantly. snap has built a lot of the advertising and monetization tools that they've seen. they built exactly what's worked at face book they have all the vendors in place, all the marketing programs so they have that infrastructure there. now it's a matter of making sure you continue to get renewals from these brands. and take those hundreds of millions of dollars that people are spending on snap and get them into those billions >> you mentioned content creators what you're talking about are influencers. so at some point, you know, can't this be a lever that snapchat pulls this is, you know, the exact sort of audience that, you know,

celebrities want to reach, sports stars it seems there's a lot of untapped things here for snap that will really not factor in it seems like there's overly bearish sentiment. >> incredible, right it's a huge opportunity. because these content creators yp a lot of them have been born because snapchat existed or they're famous because of snapchat if snap started to build tools that really helped these content creators manage their audience, grow their audience and, most importantly, make money, that's going to drive a tremendous amount of eyeballs outside of just that teen audience. >> it's good to have you on tonight, thank you so much >> thanks. >> joining us tonight from los angeles. >> one of points they made a couple -- >> would you rather they told me. >> would you rather. >> right here. would you rather facebook -- what are we do facebook or snap? >> who you talking to right now? >> talking to you! >> oh, talking to the guys -- >> i'm talking to the big voice

in the sky talking in my ear. >> would you rather? i would rather snap. we said this heading into earnings although the trajectory of the stock is from the upper left to the lower right, you have seen at least three significant rallies to the upside and i think we're in the midst of one now. >> i'm there in snap listen, facebook's been working. no reason to get off that train. i think snap is a good trade. >> karen >> i wouldn't short snap at all. i think the risk/reward in fab facebook is better i'm long facebook. >> the easiest thing, facebook over snap. the fickleness of the teens that you think are so attractive to them and that's why snap is so great. you talk to anybody who's a teenager and if they start seeing too many ad, they are out and they're looking for the next thing. >> yeah, it's called instagram it's called your facebook's feed snapchat it's actually very difficult to put these ads in there so they got to figure out ways to do it through discover and that sort of thing to me, i think there's a really good opportunity here. i think this is a property

company that has really only unleashed a couple little products here. >> so despite the fact that facebook has all these different levels to pull, you think snap is a better -- >> well, think of it this -- all right, think about this. we have two companies. we have google and facebook that both have about $500 billion market caps. they're the only ones on the planet that have billion user properties, okay so then we have twitter and social for instance. twitter and snapchat that have about 170 million daus there's a scarcity value in those things people just want to crap on those names but they are irreplaceable at this point. no one can get near them i think both of those properties have a lot of value. i think at so many point -- >> they have value under the right circumstances but right now i don't think they have value as they stand. >> okay, but if you own these other stocks that have performed so well and garnered this massive valuation, why wouldn't you own twitter and snap and say it's not a zero sum game i think at some point these guys are going to actually get -- there's a bigger pie that's

growing. what percentage of ad dollars are online now this is why ross levenson is going to the "l.a. times" and doing this deal. >> meanwhile, if you look at facebook, you see all the different leversen th they can l zuckerberg is moving faster and faster into video but still focusing on instagram, he's dominating the space that's just absolute no question about it. >> mind if we go now we're going to go. okay still head, sales force falling after its earnings report. the ceo just spoke to cramer moments ago. you won't believe what he just said about rival oracle. we're going to bring you those comments plus, pete at the plaza. as big as he is. >> quick >> he moves. >> guy got over quick too. >> he doubled down on the longest holding ever, calling it a must own stock for investors but can he convince the other traders? enfa meyrerns. but as you get older, it naturally begins to change,

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with couple back to "fast money. pitch us a stock they think is worth a buy and when they're done, the traders vote whether they're buying or selling the pitch. pete is stepping up with a name

he's held since the '90s back when montreal still had a baseball team. pete didn't have a ponytail, had hair >> that is so wrong. >> pete. >> i mean, it's right but it's wrong. so you want to know what my stock is my stock that -- >> that was a toss, pete. >> my stock i'm pitching tonight is apple there's multiple reasons why we're going to start at the top. as i always do with every single stock. it's the management. tim cook everybody else talks about he's taking his eye off the ball. he's not taken his eye off the ball everybody talks about, well, it's just about the iphone it's about the growth and his vision out forward talking about services we talk about it every single quarter for last two years we talk about that growth. that growth is now a $7 billion product for them and their services continue to grow at 20-plus% so that's a part of the businesspeople don't always fully recognize. it's 16% of their rev nul as well that continues to get bigger we talk about growth and categories how about the ipad

how about the various different products they've got, including the watch, which now, last quarter, that was up 50% you look at the mac, that was up 7% the mac was supposedly done. it's not done. so there's still growth across multiple different categories. then of course dan brought it up earlier in the show, the balance sheet. you talk about the cash they've got. forget about that for a moment how about the cash they generate every single quarter i mean, it's an absolute cash machine this company and they'll continue to do that. oh, by the way, i'm going to mention this last thing. the super cycle. as these things continue, i think the super cycle is for real i think you're going to see the upgrades it's been very short term. look at the chart of apple it's had pauses along the way. but look at just this incredible run. and this doesn't even include when this was sub $100 and everybody hated it, as dan mentioned earlier. this stock continues to outp outperform it's all because of tim cook and the management and strategy going forward. >> anybody have any questions?

>> peter, peter, peter okay so you own this thing since you didn't have a ponytail and you had hair at this point, obviously they had a great quarter. you talked about the super cycle a little bit to me, don't you think there's risk there we know in the next couple weeks, they should introduce this, you know, ten-year i-phone anniversary thing. what if it doesn't come? what if they don't have their announcement what if they have pushouts in some of the new product? isn't there risk in the near term you could have this thing pulled back prior to the launch? >> all these what ifs. that's a possibility, no doubt but when you talk about the cycle itself and talk about the two-year and how these cycles are starting to shrink down. i think whether they deliver exactly on time or it's delayed, the stock still goes to the upside and i think it's because of the strength of all the different categories that apple has right now. that's where i think it really comes down to. people talk about the phone and it being too expensive that will be built into what people do with their carriers as well i don't view that as big of a deal as a lot of people have

talked about on a $1,000 phone. >> karen. >> all right, so normally i don't focus on this. the history of the stock, when they go into a big launch, is it a buy the rumor sell the news kind of thing? >> normally ramps into an announcement right, and then there's a tendency to maybe sell on the news, no >> it ramp, it pulls back, and i think that gives you opportunity. every time we've seen these opportunities, it's been these pull backs where everybody all of a sudden gets negative and i don't think there's a reason just yet if something comes up that actually does make us all question it, that's a little bit of a different story this is a company and gene muster's talked about it, there are other categories they're pushing into as well this is no longer just the phone. yes, that's 60-plus percent. but there's much more coming still. >> all right, let's vote guy, you're up first >> well, some people say, they ask why. you know what i say, petey, i say why not. that's a yes >> all right

>> um, i say you wait here i mean, pete's been very right on this story. he's been right on it from an investment standpoint. i want to see that this phone gets announced i want to see how many different phones they have i want to see a new watch. i also want to see more commentary about china was down 10% in the last quarter year over year. >> that's a long lis anything else you want to see? okay, karen. >> my pen didn't work at all so then i dipped it in water for the mark, thinking that will work and then just cleaned this a little bit so nothing. doesn't say anything. >> no opinion? >> i agree with dan, i would wait i would love to buy it on the pull k pullback >> can we get a twitter pull on the rachel, she's wearing the rachel i think it's great you look hot. >> oh, that's very sweet i am not in charge of my hair for whatever that's worth. >> okay. >> nothing's awkward >> awkward. >> when you say the word awkward, it makes things awkward. >> yeah? >> it wasn't awkward until you

mentioned awkward, now it's awkward. >> america was thinking awkward. i channeled what they were thinking. >> okay, good job. >> i thought it was great. >> mixed reviews on the desk says the teleprompter but did pete's pitch for apple make you want to take a bite out of the stock? vote in our twitter poll right now as dan mentioned cnbc "fast money." we're going to reveal the results later in the show. granted, we only have ten minutes left, but we will do it later. then, sale force sinking after its earnings report. the ceo sitting down with our jim cramer he threw some shade at or call find out what he said when we come back on "fast olay eyes

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an advanced fiber-network infrustructure. new, more reliable equipment for your home. and a new culture built around customer service. it all adds up to our most reliable network ever. one that keeps you connected to what matters most. welcome back to "fast money. shares of sales force falling after its earnings report. josh lipton is in san francisco to break it all down for us tonight. >> on the call of sales force, the ceo saying sales force is the first enterprise cloud software company to reach that $10 billion run rate they're now setting their sights on $20 billion he says they're going to hit that, in his word, in fairly short order. first question on the call was why the company maintained that

operating margin forecast in 2018 executives saying listen, they're committed to growing that top line, expanding margins. they're also going to keep investing in innovation, in inf infrastructure they say that's important for long-term growth even if it does, they say, pressure near-term margins he also just talked to jim cramer where quickly the subject of an old rival came up. take a listen. >> you could see, we just pounded oracle in the quarter and you can see it in the market share numbers. sale force is considerably larger and the spread continues to go. you can see it in the top-line growth numbers look at that growth. we are forecasting now 24% growth for the year. we raised our revenue guidance by $100 million for the second quarter in a row that's incredible and i've got dreams of 25%. >> now, for that full interview,

tune in to "mad money," tonight, that of course starts at 6:00 p.m. eastern. >> thank you, on the west coast for us a little name drop from josh, right, his buddy cramer. who's he think he is, steve weiss, dropping names? my buddy, cramer, sales force. >> sales force so the growth was up 26% year over year. people say the valuation is unsustainable, all those things. this has been a pretty common refrain with sales force report earning, see a bit of a dip. stock rallies a week later i think that's what you're about to see right there. >> get in there, peter. >> you look at everybody from microsoft to oracle to adobe every one of them has been stroke, right. these guys are gaining market share. that's part of the biggest point i took away. and the growth continues to be there. plus 20% growth. i think i agree with you, guy, i think this stock will be higher in the next week i actually own calls, i bought them just before the call today.

i still think it actually goes higher. >> you're talking cloud today at noon with vmw. >> yes, yep, red hat, vmw. somebody was talking about the strength and there was an upgrade. i believe they raised the price target as well. >> best cloud stock now is what? >> best? >> best. >> if you're going straight, strictly to the cloud -- >> i hate to put you on the spot. >> no, if you're going straight to the cloud, sale force an entire company, microsoft. >> steve weiss just texted, thanks for the shout-out. >> he says hi to tesla too, i'm sure playing golf on -- >> all ight, from the outspoke ceo to another who's leaving, chevron ceo john watson has announced his departure that sent options traders into a frenzy today dan is going to break it all down for us. >> it was near term, you know, there was some option, activity. call volume was a little hot total options volume about 1:30, this was after the announcement, that the ceo was

planning to step down, there was a large buy of the september 8th weekly 105 puts paying 90 cents to open for 10,000 that's $900,000 in premium it breaks even at 104.10 the stock was trading at $106.20. so when i see that sort of activity, that's a trade they're either making a short term, bearish or possibly some protection against a long position when you look at this thing, it's actually a train wreck. it's down about 11%. it came back in. it you just look at the next chart right here, i think it's kind of interesting when you look at this support, that's down at 100 bucks so maybe this trader's looking for some protection in the nearterm for this stock possibly going back to the support of $100. >> thank you, dan. check out the full show friday 5:30 p.m. eastern time still ahead are you whiching pete's pitch for aprille adere's still time to vote he to twitter @cnbcfastmoney we'll do results when we come back i'm here at the td ameritrade trader offices.

steve, other than making me move stuff, what are you working on? let me show you. okay. our thinkorswim trading platform aggregates all the options data you need in one place and lets you visualize that information for any options series. okay, cool. hang on a second. you can even see the anticipated range of a stock expecting earnings. impressive... what's up, tim. see options data like never before. with thinkorswim only at td ameritrade.

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>> apple, going higher >> eww >> dirty dancing's the 30-year and anniversary today. snap, room to the upside >> guy. >> guy. >> put something in here >>great. tomorrow night at 5:00 "mad money" with jim cramer begins right 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 is not just to entertain but to educate and teach you so call me at 1-800-743-cnbc or tweet me @jimcramer. did today's rally mean anything yesterday i told you about the unimportance o