facebook, mondalez and eileen at goldman anticipates investor day we'll interview david solomon on "closing bell" at 3:30 p.m. eastern time don't miss it. >> he is going to be the reaction panel. >> yes to the fed decision as well. >> yeah, powell. >> that does it for "closing bell" today. >> "fast money" begins right now. live from the nasdaq market site as always over looking times square this is "fast money. i'm brian sullivan in for melissa. the trade ertz tonight are tim seymour karen finerman and guy adami. and chris ver own as strategy as research partners. it's an earnings bonasa. apple, starbucks, amd, ebay. alaska aaron the move after reporting results. we'll break down the numbers, headlines, everything that matters to you and your money. plus, more today's big moves higher stock rebound after the sell i don't have yesterday

the s&p posting of the best day since pocket what drove the turn around we get answers later can you name the mystery chart? a hint the stock has been on a tare heading into earnings. there is the chart we send you the guesses. beginning with this, the biggest ka hundreda of all, apple, to its core crushed the quarter a huge beat on the stock responding to the upside earnings per share coming in at 499, 60 cents better than expected sales 5.5 billion. better than consensus and you heard from apple ceo tim cook because we spoke with josh lipton who joins us live outside of hq's -- apple hq in cupertino. i got to imagine there is a lot of smiles on the faces because the quarter looked good on nearly every metric. >> yeah, brian, you mentioned being on the top and bottom there. lets go to iphone revenue up 8%

to $56 billion apple ceo tim cook telling me it was the 11 that was the best sell in quarter. services revenue up 17% to 12.7 billion services margin clocked in at 64.4%. the street looking for 13. billion. wearable home and accesses, 10 billion. greater china revenue up 3% and the guidance, q2 guiding for 63 and 67 billion better than the street was looking for pop analysts model closer to 62.5 billion chatted with tim cook and we discussed the coronavirus. obviously investors concerned about what it means for apple's business in china in terms of production and demand. apple ceo telling me that he has more to say on the call. but he noted as you can see from the range, there he talks about the q2 guidance, it anticipates a level of issue there otherwise we wouldn't have a $4

billion raeno noted a couple of points, though, that he made, measures he has taken in response to this virus, restricting employee travel. cutting back on retail hours and did close one store. and finally just going back quickly for the iphone number, the revenue clearly better than the street was looking for . the iphone 11. i asked tim cook why that's the most popular he pointed to battery life and design and thought he nailed the price point. $50 cheaper than the xr last cycle. >> josh lipton in california i know the conference call is beginning now. i know you're hopping on get any headlines raise your hand we'll put you back on guy adami. >> yes, sir. >> i know the iphone gets all the agency still the big dog wearables, mostly the air pod. your take on the quarter.

>> a lot of people -- i'm not one. a lot of people think the wearables are the next thing my take on the quarter, it's hard to throw cold water on the quarter. the pechlt s beat. margin and revenue beat. we are getting multiple expansion because they move to services that was true. but now service revenue as a percentage of overall revenue is 14.5%, sequentially lower than it's been. i'm not making a big deal but if the bull case is the different multiple based on the product mix, that's concerning i say this, apple traded at a discount to the broader market for many years now, with this quarter and with this price action it's trading at a significant premium to the broader market something to throw out there. >> and guy is right. and seems like universally people have had to acknowledge what's happened with the stock into this print. and this print was extraordinary on a lot of different ways first of all, think about where we were a year ago, and when

tick coma tells you he warns the most important was going to be difficult we got to a place to set the table for the stock to move two times since that moment but if you think about the multiple guy talks about, why is it trading where it is, some of it that money managers were overweight and two or three turns on the multiple you can make the argument that some of the sum of the parts you can say this is more than the sum of the parts and finally looking at the supply chain, we were not expecting based upon some of the numbers we got out of taiwan semi it wasn't a bloodbath but not extraordinary. so guy mentioned services revenue. the simple math i think is 13.8%. but they said a year ago when they had 360 subs they were moving to -- they were at 480. they're at 1.5 billion subscribers. >> lets be clear, karen. apple's wearables business, which did not exist five years ago, effectively. >> um-hum. >> now has a revenue stream that

is -- would be what, top 30 in the s&p 500. they have created an entirely new business while maintaining the iphone franchise it's truly incredible. >> it is i mean that's extraordinary. it would -- service and wearables was the 24 together i think. the gross margin that was impressive i'm not sure exactly how they got there. i don't know the source. but given the picks was better than we thought, more phones one think i wonder once you oi the phone how long does it take to gear up to the services you want. some i think are instancely. i don't know with the install base we see additional services revenue on the base. that would be good it was a very good quarter, no question it's surprising to me to see just a little bit of slowdown in services as a percentage, not as an absolute number. >> i would add here, i think tim

touches on this, remember a year ago the stock bottomed on a terrible quarter. >> and terrible guide. >> and nothing prevents the stock from topping on a great quarter here what led last year when you look at the low the late last year it was the semis that turned first. think about it the other way some of the semis are peaking here we see it with amd, amat all the china names down is sharply the last couple weeks, down 10 to 15 10% drawdown on apple gets to you 275 that's in the cards i'd be a buyer there but we have to respect that the semis started to roll and lead this stock. >> i want to come back to wearables in a second but chris staying on the technicals. i was looking at a 10-year chart come to the set. apple has never been this par above the 200-day moving average in the last decade never this far has the gap come two farp. >> looking at performance the

last 12 months it stubbled doubled. five times in history that's happened a couple times. up over -- just because it's up a lot doesn't mean the next year can't be good. and look at the leading indicators of the stock already started to roll. inches eight problem in the thereto short-term. >> lets get more reaction. join us is paul meeks abportfolio manager at independent solutions wealth management going through the numbers and listening to the commentary. we've within talking 15 years. we believe the numbers tell the story. the stock up 2%. therefore the market likes it. is there anything you could find in anything you have seen that is cause for any concern around apple? >> i think you've already hit on it the slight deceleration even though on the absolute basis it's growing robustly in services is somewhat worrisome

because if you want a software and services play you can find a pure play software and services company that's growing faster and higher profit margins. the other thing i worry about, brian is nothing today to do with what was reported today, nothing to do with what was reported today with the guidance but even after i suspect this company will earn $14 per share this year instead of 13 plus you still trade where the stock is moving after hours tonight at 23 times that's pretty rich. >> 23 times, and all lets remember that we're dealing now with a quarter where one of the biggest markets is facing the worst sort of viral outbreak in at least 15 years. with the coronavirus we don't know what this quarter or this fiscal year is going to look like. so investors -- do you think they're trading too much on what did happen rather than what might happen >> i absolutely think that's the

case and not only the coronavirus, you know, one of the real catalysts to the story, to have it re-rated higher as far as the pe ratio in the last 12 to 24 months is a hopeful less reliance on hardware, particularly the iphone. and you have a situation now where in the quarter just reported this evening iphone is up over 60% of total revenue in one sense great for the short-term in the long-term we know despite the bump which will see a greater bump in the short-term with the 5g rollout, smartphone market, not just in states but around the world, except for few emerging countries is slow-growth market it reminds of something we saw with pcs from the 80s and 90s when they grew fares fastest and once you had the pc at home in your pocket and at home and then units started to fall. remember the pack story is

smartphones are a mature business and slowing around the world and you'll really see that once he get through the 5g liftoff. which in the short-term would be great. long-term i'm worried. >> paul, tim seymour thanks for joining. and this what might happen -- or happened in the backstory and might happen in the future, the forward multiple, i want to get to this because you are someone that managed stocks through frothy times it's 23, 24 times next 12 months you talked about software companies that trade at higher multiples. that you could get more growth in but, you know, what's the multiple for this stock in a low interest rate environment? isn't that what it comes down at this point it's re-rated so much. >> i think the fair multiple is not 23 i think once you clear the 5g boost i think overtime this stock should probably trade at 16, 17, 18 times earnings. and so, yes, we'll have upside

eps. so we'll have higher eps to multiple reply with the pe ratio. but injury that's fair long-term rather than mid-to high 20s. >> all right, paul meeks we leave it there thank you very much. you know the one thing -- we're going on the fly with this here, guy. and looking at the numbers i guess we're not trying to poke holes. but if you have to find something you made and doubled money in a year, looking apple noted -- i might tweet this out. that the net sales fell fractionally from fiscal '18 to '19 because they said wearables may have taken some of the sales. you'd rather sell the $1,100 phone than the $270 air pods. >> dan talks about it all the time you had flat eps growth for some time you had multiple expansion and that's what paul was talking about now. i think for chris verrone who

has been bullish in tech and semis and apple a long time to say maybe this country shendos after this quarter you have to take notice. and 18 multiple on the injures they expect gets to you level chris talked about roughly 275, 280 i don't think that's unreasonable. >> i would add there the number people have to focus on is 304. the low yesterday when all the anxiety and stress about the virus, you start to break 304 i think it risks a deeper draw down whatever the lows were yesterday are important short term levels. >> let me ask you a broader question, karen. because a.m. as i tweeted out is 10% or more of 16 major etfs the xlk, etf. >> what do you want. >> is 71 stocks. apple is 20% of that one etf can the overall market go up if for some reason ever apple

starts to go down? >> ever? yes, i think. >> ever is a long time. >> never is a long time. >> no, i mean, apple seems to be the horse and the court. >> don't disagree. >> for a long time cisco was the proxy for the market. >> ge. >> that was a longer sfiem ago i think now apple is kind of the proxy for the market so widely held retail, institutional. i think that this is good for the mechanic no question. i think we -- to get the market to continue to go higher we need to see facebook and google and some industrials do well also. >> really quick, apple's move was 33% of the performance of the triple qs off the june low which raleddied 30 apple un86% you do the math. i think then you decide what that means for the mechanic. i don't think it's great >> okay. coming up. it's not just apple. a bunch of other big name stocks are on the move after reporting results. we talk about ebay, amd, might

even talk about alaska airlines and starbucks. later our call of dat i. what has one analyst so down on beyond meat. kind of. we'll get to bottom and you can watch or listen live on the go just download the cnbc app may on the iphone, guy adami we're back after this.

>> announcer: first word on boeing quarterly results the aerospace giant 737 max sent

turbulence through the markets what will the number by the strolle♪s ♪ i want to go, go, go where my baby is ♪ hey. hey. you must be steven's phone. now you can take control of your home wifi and get a notification the instant someone new joins your network. only with xfinity xfi. downlaod the xfi app today.

all right. welcome back to "fast money. there is more numbers. a lot of green on the screen stocks rallying today. the s&p 500. somebody goes home and says hey when is the best day since you'll say it was the best day for the s&p since october. nasdaq, best day since september. tim, we got music. what's your take on. >> coup is up. >> dog, music, what's wrote your take. >> a little hiphop you look at the bond market you had a 40 to 50 backups recovery -- a 4 point recovery in the 10-year not extraordinary when you consider yields. and look at the bounce in semiconductors, higher beta stuff, nice bounce but yes the vix was off 12 to 13% today. the things hanging over the market which are growth expectations haven't really

changed. and we have to get through extraordinary tech this week net-net, by the way, there is a fed meeting tomorrow i don't think they are going to do anything. but i think the fed needs to continue to talk about what they're going to do with the balance sheet. because we talk all the tame brian. you show great graphs on the correlation between the market and the side of the fed balance sheet. very important, not your friend. >> it's a fred day tomorrow. that's right a lot of the move was on the back of anticipation of the apple number which the market got. and the lining up ahead of the fed which god only knows what they could say but for every market in the after market we'll talk leader but you have amd down 8% and xia links down 8%. there is a lot of cross current. i don't think necessarily yesterday solved anything. and today didn't. >> if you look at the breadth maybe best market day since october but the internals were tepp i had i want to see days of five to one six to one copper soft, crude bounced tepp

i i hadly. you saw the a-shares abthe china etf ahr down on the day. you didn't get what you want off the loaf yesterday 30% of the market made a one-month low. if you look for the good tacticing buy signal get that higher to 50%. that puts the low in >> i was surprised the market did this well. there was not so great data. >> wearables weren't that great. >> i don't know if there was noise there. i'm surprised the market did this well on the heels of that >> i think we can to maybe tooth the show's horn a bit because yesterday we broached the subject about china come. >> watched you guys on the plane. >> how fantastic is that with the live "fast money" on delta airlines. >> we talk about china coming in with some sort of economic -- or monetary or fiscal stimulus lus and there was stuff going around this morning and that the china

central bank was whispering about abundant resources do you wonder if there is the backstop, that the central bank of china is not allowing the economy to recover. >> i think we have to say, hold on a minute. china was stimulating. it was rallying. china is the engine for asia and much of the trading world. emerging markets are down 7.7 from peak to trough yesterday and only recovered 36 backups today. i think there is a trading market to look at, especially a laggard and one moved three times what most moved. back to dh, i think they have a lot of bullets, in a position where they are stimulating they have thrown stimulus at the market market. the triple r cut to the extent they have more levers to pull on the planned economy they can. >> we have a news alert on facebook lets get to julia boorstin

boorstin in l.a. with that. >> the top engineering executive jay preek. announcing it a post on facebook mark zuckerberg commenting on it saying a lot of what we achieved wouldn't be possible i don't think we have a data center when we started he says it's just time for him to move on from the social media giant. facebook shares not moving on the news trading up about .5% inafter hours. >> julia thank you very much facebook's top engineer is leaving. we've got earnings on facebook tomorrow after the bell. does this change anybody's view on facebook one of the of the top engineers out? >> maybe five years that makes a big deal i'm not getting short the stock on the back of this. but on the other hand you say into earnings, apple had a big number i'm fascinated to see what happens to apple after the

market opens tomorrow. you could see a similar move in facebook tomorrow. they have the big beat, spike and see how it performs post. >> and thank you julia boorstin for bringing us that breaking news as we said it's really an earnings bonanza ebay starbucks and all to be discussed. all are in the red which we break dunn county bay down 5%. amd one of the hottest in the world down 4%. and there is the mystery chart the. >> the suffolk looks like every stock in the stp. >> pedal into the metal. and how to trade it when we return

♪ i think we need to to play a little devo because the earnings whip around. this is the busiest week ever earnings 130 plus companies reporting, a burchl of big names. we talked about apple. amd, ebay, starbucks rolled out numbers. all of thee are down after hours. the entire cnbc earnings squad is with us to break down the big numbers. we've kait rogers on starbucks kate rooney on ebay. lets kick it off with frank holland with more on amd frank. >> hey there, brian. smars of amd around 4% after record quarterly revenues beating estimatesen and beat on the bottom line. guidance mixed for the full year slightly above. process for a company with high expectations and shares sbrofgt 150% kevin wart water house found the gaming business disappointing.

he said the gaming console business was a drag. the guidance for q1 light. the gross margin better and share gains, the hope would have been better margin guidance for 2020 mart moderating price. wedbush but looked for the call starting shortly he said no surprising how the stock trades will depend on what they say about the epyc server processes. they are a structural share gainer versus intel and this result doesn't change that at all. and we will get more insight on amd and the gaming business on the call which starts at 5:30. remember, the company will provide the chips for the new x becomes and play station consoles released this holiday season kind of a big deal for investors. also ceo lisa sue joins squawk on the street at 9:00 a.m. for an exclusive interview. >> back to you. >> thank you holland squawk on the street lets trade a k. the beautiful piece of paper

with the blew highlighter. i circled here that amd was a $2 stock in 2015. not that long ago. we're seeing a market reacting it's down 4% on not terrible guidance do you think the gains have been made in amd. >> i mean this is a stock up 90% since october 3rd. it's the stock we know they are taking market share from intel i don't think there is a big revelation if you listen to cowan they upgraded from 47 to $60 a share. saying two things. first of all the pc business, the 7 nano meter to moving quick to take on intel but also the long-term addressable is giving them to the ability to outperform. you have to take a breath here this valuation why wouldn't you want intel at this level. >> i think the run that it's had and intel you're talking about amd gaining share but intel fighting back. that was an impressive your from intel and the valuation for intel is different than for amd.

it's run up so far it's not that anything is bad about the quarter. >> this is this is a great long-term chart but tactically rich process a 40 stock a month ago. and 2555 today that's the issue with the semis. the moves in the last 20, 30 days they're up 20, 30%. you can cut that in half the next month or two and it's painful. >> moving to ebay, down 5% the biggest decliner lets find out what bothered investors in the quarter get now to kate rooney. >> hey, brian, ebay shares down 5% after a sales decline in the fourth quarter results were better than analysts expected with a beat of 5 cents on earnings and beating a hair on revenue. the company announcing a $5 billion buyback. but despite that gross merchantville closely followed metric in e-commerce came up

short, below estimates at 23 about it 3 billion one factor for that miss, the ceo just mentioned on the call, implementation of the internet sales tax by the u.s. in 2019, the q 1 revenue guidance coming in below expectations and hitting the stock. you see it underperformed the s&p the past three months and throughout 2019 with big swings. town more than 5% now. back to you, brian. >> all right, kate thank you very much. karen your take. >> so last year i thought it was interesting when elliott came in and they wanted to shake things up and got on the board and did some of that they got ebay to sell subhub that was nice. the main driver is the core business while the stock is not cheap and the core business under threat the way it is it shouldn't be expensive. it should be cheap i wouldn't own it here. >> it's been a stock, again, go to the charts, chris, that's your world, hasn't made any money in two and a half years. in this market the siem same

price two and a half years ago. >> everything they can do to make a new high except this. in a bear market sibs february of 18 when it weekend. i it's weakening below the 200 day. we don't want to own. >> that what the chart tells you is a quarter ago, if the chart tells you this fell away war part on the third quarter and fourth quarter guide talking low single digits in terms of revenue and epts for a company not trading on multiples. so the gmv and the core marketplace business is that which proves me right now. and they haven't proved anything. >> guy adami, the wells fargo analyst calling ebay a melting ice cube. >> a melting i cube. >> i wouldn't imagine that's definition. >> doesn't all ice cubes melt at some point by definition standing to reason it's an interesting analysis. >> not an iceberg. now they are just a cube that's pretty disappointing.

>> and you sublime and it's all gone. >> music references from. >> how about vanilla ice. >> how about vanilla ice. >> how about $34 the line in the sandwich chris mentioned that was the december low trades there breaks next to the last year december low at 27 if you look in terms of price to earnings next year it's not ridiculously expensivive they can't get out their way. >> brian, would you rather ice tee or ice cube where do you go? >> i would have to go -- i'd go with the cube. >> really. >> ice tee has a lot. >> ice tee did have the -- i believe that -- it was called body count the punk body count. lites lets round out the trifecta that stock falling after reporting results. and making fresh comments about the coronavirus. lets get to that kate rogers at c nchbltz

hq this is a big deal. >> no one asked me i'm in the ice tee corner but star walks a q 1 revenue for 20 eps a beat come comp stores a beat. comps in china up 3% as strength continues in both of the all-important markets. the holiday season was one of the strongest in history and while starbucks maintained guidance for full year 2020 thus far they warn that it the coronavirus may impact results moving forward they closed more than half of the stores in china and while it's expected to be temporary, the financial impact can't be estimated. and disruption to business and reduced customer traffic are expected to materially affect the international segment and consolidated results for this second quarter and full-year 2020 starbucks adding that guidance will be updated once it can reasonably measure the impact of the virus. listen to ceo kevin johnson on

the call >> our immediate focus is on two key priorities in china. first, caring for the health and well being of partners and customers in our stores. second, playing a constructive role in supporting local health officials and government leaders as they work to contain the coronavirus. that said, we remain optimistic and committed to the long-term growth potential in china. a market we have been in more than 0 years. >> and you won't want to miss starbucks ceo kevin johnson live tomorrow morning on for a first on cnbc interview on sfauk squawk on the street china very important to them, their second home market they say. >> huge market and a huge interview on cnbc tomorrow thank you kate so tim seymour can you own a stock where she effectively said we don't know what's going to happen in our second largest market and for how long? >> i understand how dangerous that can sound but the answer is yes. and we're not talking about a secular problem with the

company. not talking about a structural problem with the company we are talking about a short-term cyclical which is, again, devastating right now but there is nothing in the business when i hear the mobile grew 40% in china, the loyalty business grew 40s%, continues to grow to 18.9 million on the rewards in the u.s., this is rehate etting along a tech multiple hear me in and out in terms of heit ticket sale and be more efficient that's why they are re-rating. i love it. 6% u.s., the core market is doing nothing but moving higher than expectations. i stay long. >> tim for a stock that went 50 to 100 over the last year. that has to give us some pause in this market where the big movers are getting hit the structural story's inact tact but nothing prevents it going back to 85 i think it's a better opportunity there. they talked about best holiday sail sales why is it not making

a new high. >> isn't it at the 50 day hafl. >> i'm not convinced it holds. it goes i've to $7 lower a better opportunity there. >> if it breaks through the 50-day moving average. for more on the big earnings there are more than we have time to get it head to the website. at cnbc.com. in the meantime time here it what else we have come back. >> warning, warning, warning, the u.s. yield curve briefly did the thing that investors fear so much but chris verrone says inversion may be a good thing for the banks. he tells us why. and later is beyond meat's valuation beyond belief? we break down where the stock is going in our call of the day we've got atth and a lot more, after the break. e next level. supporting innovative companies that will shape tomorrow and building workforce development and tuition-free college programs to generate the talent companies need.

with a $150 billion investment in state of the art, modern infrastructure, and a nation-leading commitment to low-cost clean energy, new york is doing more than any other state to build for the future of your business. new york state, the state of the future. learn more at esd.ny.gov.

all right. welcome back to"fast money." as stocks rose, rates round rebounded a bit today after the 10-year yield hit the lowest level since october. chris says the big move in bonds is creating real opportunities in two key parts of the market chris is at the plasma chris, what are the key parts. >> i think in markets like this

we either need to focus on things that are already wash outer or areas of the mechanic showing unusual strength we'll start with the former, i think banks are at least in the vicinity of where we want to call them wash out this is the bank index already down about 6% from the highs. and if you look internally under the surface only about 10% of banks are left above their 50-day moving average. historically when you get that flush you are in the vicinity of where in ultimately will start to bottom. i think the setup is getting more compelling here to be a buyer of some of the banks if you look at some of the candidates i think city here is interesting. you've had an % drawdown from the acceleration phase it minds us what we saw in the 2015-2016 period where you broke ut, had the big move higher, post-election. and then you had the 8%, 9%, checkback of support ultimately before the bull market resumed higher

i suspect a similar move here. you have good support near the 200-day. you get there you want to be a buyer. it'sa washout candidate. i think we are getting closer. a name at a consensus but we think getting better is deutsche bank what's interesting here is this is a stock, particularly over the last several days, despite all the anxieties around the world, has traded really well. i'm giving you the most important data point here. there are 28 analysts covering the stock. zero analyst buys. it's at a consensus. we think it's quietly getting better trading 0.2 book room for it to go up but what was also interesting on the other side, while the meanings may be washed out, the builders are showing the unusual strength this is d.r. horton the last 20 years. not getting enough attention in our work here is that d.r. is finally above the 2005 highs this is a stock that didn't peak in '07 with the market it peaked in '0 a two years

before i think we have to at least respect the economic signal that the home builders continue to ac as well as they do one of the most timely in the group go down the cap scale a bit. k.b. home, a yaes era great base that continues to take shape on the verge of breaking out. any build breakthrough out there a opportunity to get long remind build iris the bank get washed out and timely the next couple weeks but the builders send a positive signal. >> chris, why don't you come on back. >> yes. >> guy, adami. >> i don't know if i heard anybody recommend deutsche bank shares in years. we have talked about it in other programs we talked about now problematic the company was. >> it's a bold call. he makes the point no analyst has a problem. i don't think he is saying the deutsche bank problems have been solved not the case.

but it corraly on 15% or 20% on air. i think deutsche bank is ground zero for everything out in terms of the derivatives book and what can go wrong but it is rounding and corraly. >> i think you have a casewher you have all european banks break out here you have a case where actually and, jean eave from bnb. the driver for the european banks is that the ecb -- and we have made a transition that the ecb is no longer into the zurek dynamic. and he is the rest of the world is. >> zurich zero interest rate policy apple ceo tim cook made comments about the coronavirus. lets get to josh lipton outside of apple hko q, josh. >> brian, obviously investors

have a lot of interest in the coronavirus, how that impacts apple's business on the call here tim cook is fielding questions about that. he says how the virus could impact production or supply, obviously china a key link in apple splay chain. take a listen. >> the i'll talk about supply chain and demand to give you some color with respect to the supply chain, we have some suppliers in the wuhan area all of the suppliers there are alternate sources. and we are working on mitigation plans to make up expected production loss. >> so that's how cook sees the virus potentially impacting the production supply. of course it could impact demand with, sales. and cook saying they closed one retail store remember china has 42 stores in the mainland some stores remaining open on reduced hours. sales in wuhan, the epicenter of

the virus, he says are small but he says retail traffic was impacted outside the area in the last few days. again, he tried it owe to account for it in the guidance he want to touch on wear wearables too. cook made other points they're consfrand in the airpods. he says moefl the three comes into balance this quarter. doesn't have an estimate for airpods pro yet. can't predict. back to you. >> josh lipton, thank you very much again he come back to apple, guys, because the big stock -- i don't mean to harp on the point, the wearable business last year, including the watch and airpods, the wearables business last year is now bigger than starbucks in five years they built a business out of -- from zero to starbucks in five years. >> and it has a $1.3 trillion market cap that backs up

everything you're right it's amazing. >> incredible. >> but i think the market rerdwayed -- the stock -- significantly more than doubled since we saw that 140 price that chris was talking about earlier in the show. so everything you say is right but don't suggest -- i don't think you are -- that the market hasn't rewarded apple for those things we are talking about. >> you're saying you better keep the growth -- the growth rates better stay up. >> i believe so. >> yeah with the pe here expectations are high. >> too high. >> i don't know. i'm long i always say if you go home long it's like you are buying at this price. i'm nervous about that but staying long i guess that makes me a buyer at the price, which is 322, 233. >> good good discussion on apple. i'm sure im will have more on hmm at 6:00. coming up, is the rally in beyond meat well done. a wall street firm putting a fork in that we're talking about beyond meat. interesting call coming up next. >> good. >> one trader mad made a $2

million bet that this red hot suffolk is headed higher send in the guesses when "fast money" returns what do advisors look for in an etf? don't just track an index, help me meet a client's need. is the fund built to sell or built to last? etfs are only part of a portfolio. so make it easy to explain. give me a quality fund that helps me get clients closer to their goals. flexshares etfs are designed and managed around investor objectives. so you can advise with confidence. before investing, consider the fund's investment objectives, risks, charges and expenses. go to flexshares.com for a prospectus containing this information. read it carefully.

already. welcome back to "fast money.

one wall street analyst has a beef with fake meat. the call of the day. enough puns. jp morgan chase downgrading to neutral from overweight. saying it's no fairly valued following the monster run the past three weeks shares falling mores on reports that tim horton the coffee and doughnut chain in canada may be pulling beyond meat from the menu despite the losses lets not get carried away still up nearly 400% from the may ipo. by the way, that downgrade, the price target on the stock is still above, karen, where it is now. he downgraded but the price target is still i think 10 or $15 above your beyond meat is. >> not exactly spiteful call. >> i find it amusing, no longer fairly valued which makes it sound that it was. i wonder when that was from the moment it opened. >> back to the ice cube. >> i think so. >> you have to believe in the

growth estimates. >> he had overweight when the stock was 82 that's a bold call at 82 good for him. >> this stock moves whenever there is a hint of a new chain trying something out right? >> yes. >> and so everybody -- with the exception relearned of chris verrone, would like to try it. you wonder if it lasses. i sitten oh the exchange today you have to have months of data. we don't know if the who will sales are saying i want to try one. >> guy's concern is that it won't last. >> i'll tell you right now it won't last i'm letting you know without graphic detail it lasses about an hour or so. i saw on the axiom today was it the exchange talking about in. >> not worldwide, the exchange. >> there are legal issues with the former partner that that he they breached the manufacturing partner. it's not just that but the competitive landscape and the valuation zero cents. >> coming up, one last look at our mystery chart.

one options trader made a $2 million bet that that already hot stock is going to power even higher that was another clue. we're going to reveal the answer next plus are you ready for football? of course jim is he continues the big game series with stocks that he says could be total touchdowns. i loved it last night compared mahomes and garropolo to adobe and salesforce jim at the top of the hour in the meantime at the nasdaq market site and back after this. whether that's taking in every moment... or capturing a moment worth bringing back. that's room for possibility. ♪ how far we can go, oh oh ♪ high protein low sugar tastes great! high protein low sugar so good! high protein low sugar mmmm, birthday cake! and try pure protein delicious protein shakes

we are literally going to hogwarts right now. this is unexpected. ahhhh! whoaaa! [exasperated sigh] this is incredible. we just got off hagrid, and it is by far the best ride... this is universal... [visceral laugh and scream] home of tripadvisor's number one park in the world. so come join us. get our third park free and enjoy all three parks from just $53 a day. restrictions apply.

that's why xfinity mobile lets you design your own data. you can share 1, 3, or 10 gigs of data between lines, mix in lines of unlimited, and switch it up at any time. all with millions of secure wifi hotspots and the best lte everywhere else. it's a different kind of wireless network, designed to save you money. switch and save up to $400 a year on your wireless bill. and save even more when you say "bring my own phone" into your voice remote. that's simple, easy, awesome. click, call or visit a store today. which is why xfinity mobile data,is a different kindent. of wireless network that lets you design your own data. choose unlimited, shared data, or mix lines of each and switch any line, anytime.

giving you more choice and control compared to top wireless carriers. save up to $400 a year when you switch. plus, save even more with $150 off galaxy a70. click, call or visit a store today. well, welcome back to "fast money. it's time to reveal the mystery chart. one last hint, the stock doubled since the last earnings report back in october. you know it. it's tesla the auto maker reports again after the bell and one options trader made a $2 million debt that the stock could crack 800 a share. to mike khouw in san francisco with the "options action." big bold bet. >> it is it's pretty unbelievable when you consider the run that the stock has already had. but we did see calls outpacing puts by 1.5 to one into earnings right now the options market is

implying a big move of about 11%. that's larnger than the 9.5% it averaged the last eight quarters more impressive when you consider how the large company is the market capitalation of over 100 billion making it the second largest auto make ner the world by market cap after toyota motors where we saw the activity that caught my eye and probably catch most eyes is the purchase of the 900 of the june 80 oh calls bay paying just under $20 a contract for that net-net spending $1.8 million to make a bullish bet that tesla rises above the 0 oh strike price by the premium they spent, an increase of 45% as bigging a volkswagen and daimler today which have 17 times the revenue of tesla. >> mike, thank you very much t r more "options action" check outhe full show on fridays 5:30 p.m. eastern time the final trades are next. >> announcer: "options action" is sponsored by think or swim by td ameritrade.

♪ ♪

all right no final trades. news from d.c. senate majority leader saying the gop does not have the votes

to block witnesses that's according to breaking news from the witnesses. they got four republicans to come over they can vote on motions allowing them more witnesses and testimony. they want john bolton and mick mulvaney to testify. that's it for us mad with jim starts right now.>e you money. i'm here to level the playing field for all investors. there is 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" and welcome to cramerica. my job is not just to entertain but to educate and teach so call me at 800-743-cnbc or tweet me at jim cramer. there is a new dynamic, it is the fundamentals vers